Mr. John Travaglini reports

CHICANE CAPITAL I CORP. AND ELTON RESOURCES CORP. ANNOUNCE RECEIPT OF TSXV CONDITIONAL APPROVAL AND FILING OF FILING STATEMENT

The TSX Venture Exchange has conditionally approved Chicane Capital I Corp.'s proposed business combination with Elton Resources Corp. 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 TSX-V) of Chicane, and the company has filed a filing statement in respect of the proposed transaction dated effective Sept. 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 Sept. 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, change its name to Elton Resources Corp., and complete a share consolidation in respect of its issued and outstanding common shares on the basis of 0.75 postconsolidation Chicane share for each one Chicane share. Immediately following the consolidation, there shall be 4,491,000 postconsolidation Chicane shares issued and outstanding.

Additional information

The proposed transaction is not a non-arm's-length transaction (as defined in the policies of the TSX-V), and, as such, shareholder approval is not required for the proposed transaction under the policies of the TSX-V.

Trading in the common shares of the corporation is currently 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+, as well as the press releases of the corporation dated April 16, 2026, May 27, 2026, July 16, 2026, and Sept. 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.

About Chicane Capital I Corp.

Chicane was incorporated under the Business Corporations Act (Ontario) on Feb. 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.

We seek Safe Harbor.