Vancouver, British Columbia--(Newsfile Corp. - September 23, 2026) - Chicane Capital I Corp. (TSXV: CCIC.P) (the "Corporation" or "Chicane") is pleased to announce that the TSX Venture Exchange ("TSXV") has conditionally approved its proposed business combination (the "Proposed Transaction") with Elton Resources Corp. ("Elton") by way of a three-cornered amalgamation which will constitute the Qualified Transaction (as such term is defined in Policy 2.4 – Capital Pool Companies of the TSXV) of Chicane, and that it has filed a filing statement in respect of the Proposed Transaction dated effective September 23, 2026 on the Corporation's SEDAR+ profile.

Assuming all conditions to the closing of the Proposed Transaction are satisfied, the Corporation and Elton anticipate closing the Proposed Transaction on or about September 29, 2026. In due course, the parties will issue a further press release announcing the closing of the Proposed Transaction and the date on which the common shares of the Corporation will resume trading.

In connection with the Proposed Transaction, and prior thereto, the Corporation will continue from Ontario to British Columbia (the "Continuance"), change its name to "Elton Resources Corp." and complete a share consolidation (the "Consolidation") in respect of its issued and outstanding common shares ("Chicane Shares") on the basis of 0.75 post-Consolidation Chicane Share for each one Chicane Share. Immediately following the Consolidation, there shall be 4,491,000 post-Consolidation Chicane Shares (the "Chicane Post-Consolidation Shares") issued and outstanding.

Additional Information

The Proposed Transaction is not a "Non-Arm's Length Transaction" (as defined in the policies of the TSXV), and as such shareholder approval is not required for the Proposed Transaction under the policies of the TSXV.

Trading in the common shares of the Corporation is presently halted and will remain halted until completion of the Proposed Transaction.

Completion of the Proposed Transaction is subject to a number of conditions and there can be no assurance that the Proposed Transaction will be completed as proposed or at all.

For further information, please refer to the filing statement posted to the Corporation's issuer profile on SEDAR+ at www.sedarplus.ca, as well as the press releases of the Corporation dated April 16, 2026, May 27, 2026, July 16, 2026, and September 11, 2026.

About Elton Resources Corp.

Elton is a mining exploration company focused on the exploration and development of the Darnley Bay project in the Northwest Territories, Canada. For more information, please visit www.eltonresources.com.

About Chicane Capital I Corp.

Chicane was incorporated under the Business Corporations Act (Ontario) on February 23, 2022, and is a Capital Pool Company (as such term is defined in Policy 2.4) listed on the Exchange. Chicane has no commercial operations and no assets other than cash.

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

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Not for distribution to U.S. newswire services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. securities laws.

Completion of the Proposed Transaction is subject to a number of conditions. Where applicable, the Proposed Transaction cannot close until the required approvals are obtained. There can be no assurance that the Proposed Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the filing statement prepared in connection with the Proposed Transaction, any information released or received with respect to the Proposed Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Chicane should be considered highly speculative.

The TSXV has in no way passed upon the merits of the Proposed Transaction and has not approved or disapproved of the contents of this news release.

Cautionary Note Regarding Forward-Looking Information

This press release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of Chicane and Elton with respect to future business activities and operating performance. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding: expectations regarding Elton's and the resulting issuer to the Proposed Transaction's capitalization, whether the Proposed Transaction will be consummated, including, without limitation, whether the Consolidation, Continuance and name change will be completed and whether the conditions to the consummation of the Proposed Transaction will be satisfied, the ability of the resulting issuer to the Proposed Transaction to carry out its exploration activities and incur and renounce exploration expenditures, or the timing for completing the Proposed Transaction.

Readers are cautioned that forward-looking information is not based on historical facts but instead reflect management of Chicane and Elton's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although Chicane and Elton believe that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the combined company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the ability to consummate the Proposed Transaction, including the Continuance, Consolidation and name change; the ability of Elton meet its obligations under its material agreements; the ability to obtain requisite regulatory and other approvals and the satisfaction of other conditions to the consummation of the Proposed Transaction on the proposed terms and schedule; the potential impact of the announcement or consummation of the Proposed Transaction on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; the ability of the resulting issuer to the Proposed Transaction and Elton to carry out its exploration activities as currently contemplated; compliance with extensive government regulation; and the diversion of management time on the Proposed Transaction. This forward-looking information may be affected by risks and uncertainties in the business of Chicane and Elton and market conditions.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Chicane and Elton have attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Chicane and Elton do not intend, and do not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/315822