Vancouver, British Columbia – TheNewswire - December 30, 2022 — MUZHU MINING LTD. (CSE:MUZU) (the "Company"), a reporting issuer, today, announces that it is changing its financial year-end from December 31 to March 31.

The change in financial year-end has been made to align with and improve financial and operational efficiencies.

Further details regarding the change in financial year end, including the Company’s the length and ending dates of the Company’s financial reporting periods, its interim and annual financial statements to be filed for the Company's transition year and its new financial year, will be available in the Company’s Notice of Change in Year-End prepared in accordance with Section 4.8 of National Instrument 51-102, and filed on the Company’s SEDAR profile, available at www.sedar.com.  

ON BEHALF OF THE BOARD OF DIRECTORS

James Tong,

Interim Chief Executive Officer

Muzhu Mining Ltd.

Phone: 1-226-455-5644

Email: info@muzhumining.ca

Website: muzhumining.ca

Muzhu Mining Ltd. is a Canadian publicly traded exploration company with a portfolio of highly prospective projects at various stages of development. Muzhu currently holds 100% interest in the Sleeping Giant South Project, located in the Abitibi Greenstone Belt, approximately 75km South of Matagami, Quebec. As well, Muzhu has executed an option agreement to acquire up to 80% of the Silver, Zinc, Lead XWG Property in the Luoning County, Henan Province located in China.

Neither the Canadian Securities Exchange (the “CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements:

This news release contains certain forward-looking statements; Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. The Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

Neither the Canadian Securities Exchange (the "CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

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