Tuktu Resources Ltd. Announces A Brokered Private Placement TUKTU RESOURCES LTD. ANNOUNCES A BROKERED PRIVATE PLACEMENT OF $1.5 MILLION OF UNITS NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN UNITED STATES. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF SECURITIES LAWS. CALGARY, ALBERTA December 13, 2023 - Tuktu Resources Ltd. ("Tuktu" or the "Company") (TSXV: TUK) announces a brokered private placement of up to 30,000,000 units of the Company (the "Units") at a price of $0.05 per Unit (the "Issue Price") for gross proceeds of up to $1,500,000 (the "Offering"). The Offering is being conducted by Research Capital Corporation as the sole agent and sole bookrunner (the “Agent”). Each Unit shall be comprised of one common share in the capital of the Company (a "Common Share") and one Common Share purchase warrant of the Company (a "Warrant"). Each Warrant shall entitle the holder thereof to purchase one Common Share at an exercise price of $0.075 for a period of 36 months from closing of the Offering. The Company has granted the Agent an option (the "Agent’s Option") to offer for sale up to an additional 15% of the number of Units sold in the Offering, which Agent’s Option is exercisable, in whole or in part, at any time up to 48 hours prior to the closing of the Offering. The net proceeds of the Offering are expected to be used to fund the interim purchase price for the previously announced asset purchase described in the Company’s October 18, 2023 press release (the "Acquisition") and, to the extent there are remaining net proceeds after the payment of the interim purchase price, the Company may use such proceeds to fund development projects on its existing properties and the assets and may reallocate certain funds, from time to time, to working capital purposes (which may include legal fees, customary Alberta Energy Regulator deposit fees and other fees and expenses related to the Acquisition), as the Company deems necessary or appropriate. In the event that the Acquisition does not close, the Company will use the net proceeds from the Offering to fund development projects on its existing properties, for working capital purposes and to finance any future property acquisitions. The completion of the Offering is not conditional on the completion of the Acquisition. Units issuable in the Offering will be subject to the standard statutory four-month plus one day hold period. It is expected that the closing of the Offering will occur on or about December 21, 2023, or such other date as mutually agreed to by the Agent and the Company, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange (the "TSXV") and any applicable security regulatory authorities. In connection with the Offering, the Company will pay the Agent a commission (the "Commission") equal to 8.0% of the gross proceeds of the Offering, other than in respect of proceeds from the sale of Units to certain "president's list" purchasers identified by the Company (the "President's List Purchasers"), for which a 4.0% commission will be payable. In addition, the Agent will receive such number of broker warrants (the "Broker Warrants") as is equal to 8.0% of the number of Units sold under the Offering, other than in respect of the Units sold to the President's List Purchasers, for which the Agent shall receive Broker Warrants equal to 4.0% of the number of such Units. Each Broker Warrant shall entitle the holder thereof to purchase one Unit at an exercise price equal to $0.05 for a period of 36 months following the closing of the Offering. About Tuktu Resources Ltd. Tuktu is a publicly traded junior oil and gas development company headquartered in Calgary, Alberta with producing oil and gas properties in southern Alberta. For additional information about Tuktu please contact: Tuktu Resources Ltd. 501, 888 – 4th Avenue S.W. Calgary, Alberta T2P 0V2