EARTHWORKS FINANCING - CORTINA UPDATE

TSX-V: EWK
OTCQB: EAATF

VANCOUVER, BC , April 1, 2025 /CNW/ - Earthworks Industries, Inc. (the "Company") has initiated a non-brokered private placement sale of 7,500,000 units at $0.05 per unit to provide the Company with gross proceeds of $375,000. Each unit will consist of one common share of the Company and one share purchase warrant. Each warrant will be exercisable to purchase one additional share of the Company at $0.10 for a period of two years with a forced exercise should the Company's share price close at or above $0.20 for 20 consecutive trading days. The Company anticipates paying commissions with respect to some of the placements.

Proceeds from the placements will be used to pay the costs of the Company's annual audit, sustaining fees for both the TSXV and U.S. OTCQB, environmental insurance for Cortina, overhead, current expenses and on-going legal costs for defending the legal status and enforceability of the Cortina lease.

The Company's wholly owned U.S. subsidiary, Cortina Integrated Waste Management Inc., (CIWM) continues to move forward in the U.S District Court for the Eastern District of California, challenging the Order of the U.S. Department of the Interior's, Interior Board of Indian Appeals (IBIA), which purports to cancel the federally approved lease between CIWM and the Kletsel Dehe Wintun Nation of the Cortina Rancheria, California.

Management also wishes to take this opportunity to comment on the Annual Audited Financial Statements that were recently filed.

International Financial Reporting Standards (IFRS) require that assets must be shown on the Balance Sheet at their carrying value. Circumstances can occur where the underlying value is affected or impaired by events. The recent purported cancellation of CIWM's lease by the Interior Board of Indian Affairs was one such event. In the past, CIWM has appealed such terminations, which maintained the lease in good standing. Because CIWM chose to elevate the current termination to federal district court instead of filing for reconsideration by the IBIA, which keeps the lease in good standing pending final decision by IBIA, the lease is not in good standing at this time. This circumstance triggered accounting rules on impairment of assets and an impairment had to be taken to comply with IFRS rules. This however, in no way changes management's confidence and determination, and we continue to look forward to achieving successful resolution, either through settlement, or through the Court's granting our motion, thereby restoring our lease.

Our Cortina project is intended to be the blueprint for future opportunities in the waste handling and recycling space and the Company will continue to pursue future developments on both tribal and private land with the highest environmental standards in the industry.

Forward Looking Statements:

This news release contains "forward-looking information" and "forward-looking statements" (collectively 'forward-looking statements") within the meaning of the applicable Canadian securities regulations. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as of the date of this news release. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objective assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company or CIWM to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the "Risks and Uncertainties Statement" attached to this news release. Forward- looking statements contained herein are made as of the date of this News Release. The Company will update these forward-looking statement and Risks and Uncertainties as required to reflect new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on our forward-looking statements.

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 News Release.

SOURCE Earthworks Industries Inc.

For further information, contact: Earthworks Industries Inc., David Atkinson, President/CEO, 604-669-3143