Mr. Kelly Abbott reports

ALLEGIANCE RESOURCES COMPLETES ACQUISITION OF THREE BRITISH COLUMBIA TUNGSTEN PROJECTS

Allegiance Resources Corp. has completed the acquisition of a 100-per-cent interest in the Thanksgiving, Five T's and Rio Grande tungsten projects in British Columbia, as previously announced on Oct. 13, 2026.

The properties comprise 14 mineral claims covering approximately 1,905 hectares near Revelstoke and Shuswap Lake in British Columbia. With the Golden Scheelite project in Nevada, Allegiance now holds four tungsten projects covering approximately 2,046 hectares in Canada and the United States.

Transaction terms

The transaction was completed under an asset purchase agreement dated Sept. 27, 2026, with the registered holders of the mineral claims and certain other vendors.

On closing, the company issued an aggregate of 1.2 million common shares to the vendors at a deemed price of 17.5 cents per payment share, for aggregate deemed consideration of $210,000. The company paid the claim holders $30,000 in cash on execution of the agreement and will pay a further $30,000 on March 27, 2027.

The payment shares are subject to a statutory hold period of four months and one day from closing. In addition, under the agreement, 600,000 payment shares will be released four months and one day after closing, provided the transfer of the properties has been registered in Mineral Titles Online, and the remaining 600,000 payment shares will be released 10 months and one day after closing.

On closing, the company granted:

• The claim holders: a 2-per-cent net smelter return royalty, of which the company may purchase a 1-per-cent royalty for $1-million;
• The other vendors: a 1-per-cent net smelter return royalty, of which the company may purchase a 0.5-per-cent royalty for $500,000.

Each purchase right may be exercised before commercial production. These royalty terms reflect the agreement and replace the royalty terms described in the company's news release dated Oct. 13, 2026.

Beneficial ownership of the properties passed to the company on closing. The claim holders will hold registered title to the properties in trust for the company until the transfer is registered in Mineral Titles Online.

The company has received an independent National Instrument 43-101 technical report on the Thanksgiving property, prepared by Derrick Strickland, PGeo, with an effective date of Oct. 24, 2026, which has been filed under the company's profile on SEDAR+.

No finders' fees were paid in connection with the transaction.

About Allegiance Resources Corp.

Allegiance Resources, formerly Pegmatite One Lithium and Gold Corp., is a Canadian mineral exploration company focused on tungsten and other critical metals in established mining jurisdictions. The company holds a 100-per-cent interest in the Thanksgiving, Five T's and Rio Grande tungsten projects in British Columbia, and, through its wholly owned U.S. subsidiary, Wolfram Critical Minerals Inc., the Golden Scheelite tungsten project in Humboldt county, Nevada.

We seek Safe Harbor.