File: '\\swfile\EmailIn\20260729 082918 Attachment news release 2026.07.29.docx'

Archon Minerals Limited

#506 - 889 West Pender Street

Vancouver, BC, V6C 3B2

Tel: 604-682-3303

ARCHON REPORTS RECEIVERSHIP OF EKATI MINE

July 29, 2026 - Vancouver, British Columbia TSX.V: ACS

Archon Minerals Limited ("Archon" or the "Company") reports that on July 14, 2026, the Supreme Court of British Columbia granted an order appointing PricewaterhouseCoopers Inc. as receiver of the assets at the Ekati diamond mine. The receivership order was made on the application of the Government of the Northwest Territories, which had indicated that it intends to shut down operations at the mine and transition it to reclamation.

The Company holds a 2.3% gross production royalty over the Buffer Zone of the Ekati mine, and a joint venture interest in the Monument Project. In light of the recent receivership and the general state of the diamond industry, the Company will be reviewing strategic options going forward.

Masoud Saidi has resigned from Archon's board of directors, as of today's date. The board thanks Dr. Saidi for his contributions to the Company and wishes him success in his future endeavors.

For more information, please contact:

Stewart Blusson, President and CEO

Tel: 604-682-3303

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. This news release may contain "forward-looking statements", which are statements about the future based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law.