TORONTO, May 16, 2023 - ‎Orefinders Resources Inc. ‎(TSXV: ORX) (the “Company”) ‎is pleased to announce that the Company will change its name to “Orecap Invest Corp.” effective May 18, 2023. Subject to final approval of the TSX Venture Exchange, it is anticipated that the common shares of the Company will commence trading under the new name on the TSX Venture Exchange with the new trading symbol “OCI” at market open on May 18, 2023. There is no consolidation or change in the share capital. The new name and branding are appropriate for the future direction of the Company after updating its listing status from a mining issuer to an investment and mining issuer pursuant to the policies of the TSX Venture Exchange.

The name change was approved by the board of directors of the Company in accordance with the Company's governing corporate legislation, the Business Corporations Act (British Columbia), and the Company's constating documents. In connection with the name change, the following new CUSIP (685787103) and ISIN (CA6857871033) numbers have been assigned to the common shares of the Company.

Common share certificates bearing the previous company name “Orefinders Resources Inc.”, continue to be valid in the settlement of trades and will only be replaced with certificates bearing the new name upon transfer. The Company is not requesting, and shareholders are not required to, exchange their existing share certificates for new certificates bearing the new company name.

Additional information on Orecap Invest Corp. will be made available shortly.

For further information

Orefinders Resources Inc.

Stephen Stewart, Chief Executive Officer

Phone: 416.644.1567‎

Email: sstewart@oregroup.ca ‎

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

Forward Looking Statements

Certain information set forth in this news release contains forward-looking statements or information ("forward-‎looking statements)", including details about the business of the Company. All statements in this news ‎release, other than statements of historical facts, that address events or developments that the Company ‎expects to occur, are forward-looking statements, including, but not limited to, the receipt by the Company of the approval of the TSX Venture Exchange for the name change. By their nature, forward-looking statements ‎are subject to numerous risks and uncertainties, some of which are beyond the Company’s control, including ‎the impact of general economic conditions, industry conditions, volatility of commodity prices, currency ‎fluctuations, environmental risks, operational risks, competition from other industry participants, stock market ‎volatility. Although the Company believes that the expectations in its forward-looking statements are ‎reasonable, its forward-looking statements have been based on factors and assumptions concerning future ‎events which may prove to be inaccurate. Those factors and assumptions are based upon currently available ‎information. Such statements are subject to known and unknown risks, uncertainties and other factors that ‎could influence actual results or events and cause actual results or events to differ materially from those ‎stated, anticipated or implied in the forward-looking statements. Accordingly, readers are cautioned not to ‎place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, ‎levels of activity or achievements. Risks, uncertainties, material assumptions and other factors that could ‎affect actual results are discussed in the Company’s public disclosure documents available at  ‎www.sedar.com.. Furthermore, the forward-looking statements contained in this document are made as of the ‎date of this document and, except as required by applicable law, the Company does not undertake any ‎obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of ‎new information, future events or otherwise. The forward-looking statements contained in this document are ‎expressly qualified by this cautionary statement.‎