Mr. Alex Norton reports

ALAROS EXPLORATION INC. SIGNS LETTER OF INTENT TO ACQUIRE TUNGSTEN PROPERTIES IN NEVADA

Alaros Exploration Inc. entered into a letter of intent with 1001528518 Ontario Inc. on April 23, 2026, to acquire certain exploration leases for tungsten properties located in the state of Nevada. The company intends to acquire the properties by acquiring the target, which is the lessee of the properties.

Pursuant to definitive documentation to be entered into, the company will issue an aggregate of 10.5 million common shares, at a deemed issuance price of five cents per share, to the shareholders of the target in exchange for all of the issued and outstanding shares of the target. The company currently has 15,391,557 common shares issued and outstanding. The transaction values the target at $525,000.

The properties comprise the Toy property, consisting of five claims located in Churchill county, Nevada, and the Nightingale property, consisting of approximately 223 acres in the Nightingale district within Pershing county, Nevada. The Nightingale district has a rich mining history dating back to the 1920s, when several small but high-grade tungsten mines operated along the eight-mile mineralized trend. Both properties have excellent year-round access via state and secondary roads, and close infrastructures within the Churchill and Pershing counties of Nevada.

The target holds exploration leases (with options to purchase) with Blacklight Holdings LLC of Nevada, the owner of the properties. Pursuant to such agreements, the target is required to make annual leasing payments of $50,000 (U.S.) over six years, and at any time during the term of the lease can purchase the properties for $1.4-million.

The target and the company are arm's length to one another. Completion of the transaction will not result in the creation of any new "control person," as such term is defined under the policies of the Canadian Securities Exchange. No finders' fees are payable in connection with the transaction.

Upon completion of the transaction, David Benavides, president of the target, will join the company's board of directors. Mr. Benavides is the founder of Montana Strategic Resources, a company focused on structuring and advancing mining projects for Canadian capital markets. He has cross-border experience in the development and structuring of resource projects, and holds a degree in international business from the British Columbia Institute of Technology.

Completion of the transaction is subject to a number of closing conditions, including due diligence, the entering into of mutually acceptable definitive documentation and regulatory and (if applicable) shareholder approval. There can be no assurance that definitive documentation will be successfully negotiated or entered into, or that the transaction will be completed.

About Alaros Exploration Inc.

The company is engaged in the business of mineral property exploration and development. The company has the exclusive option to acquire a 100-per-cent interest, subject to a 3-per-cent net smelter returns royalty, in the Birk Creek property, which collectively consists of 13 mineral claims covering 2,786 hectares located in the Kamloops mining division, British Columbia.

We seek Safe Harbor.