Mr. Dane Gehrke reports

DISTRICT MINES ANNOUNCES RESULTS OF ANNUAL GENERAL AND SPECIAL MEETING AND APPOINTMENT OF INTERIM CFO

District Mines Ltd. has released the results of its annual general and special meeting of shareholders held on Feb. 27, 2026.

AGM results

A total of 261,779 common shares were represented at the meeting, representing approximately 2.03 per cent of the company's issued and outstanding common shares as at the record date. Shareholders were represented by proxy only.

At the meeting, shareholders approved all matters placed before them, including the following.

Financial statements

The audited financial statements of the company for the financial year ended Dec. 31, 2024, together with the auditor's report and management's discussion and analysis, were received by shareholders.

Number of directors

Shareholders approved setting the number of directors of the company at six.

Election of directors

All nominees listed in the company's management information circular dated Jan. 29, 2026, were elected as directors of the company for the ensuing year:

• Dane Gehrke;
• Ehsan Agahi (since resigned, see press release dated March 16, 2026);
• Ryan Russell;
• David Bradley;
• Dustin Kinch;
• Chris Campbell.

Appointment of auditor

Shareholders approved the reappointment of MNP LLP, chartered professional accountants, as auditor of the company for the ensuing year and authorized the board of directors to fix the auditor's remuneration.

Stock option plan

Shareholders approved the reapproval of the company's 10-per-cent rolling stock option plan for the ensuing year.

Ratification of past acts

Shareholders approved the ratification and confirmation of all acts, proceedings, contracts, appointments, elections and payments made by the directors and officers of the company since Dec. 14, 2022.

Correction notice of meeting and circular

The company also wishes to clarify that the notice and circular in respect of the meeting referred to the audited financial statements for the year ended Dec. 31, 2025. As these financial statements have not yet been finalized, only the company's audited financial statements and management's discussion and analysis for the year ended Dec. 31, 2024, are currently available on the company's SEDAR+ profile. The audited financial statements and management's discussion and analysis for the year ended Dec. 31, 2025, will be filed on SEDAR+ as soon as they are completed.

Appointment of chief financial officer

Additionally, the company is pleased to announce the appointment of Roland Gehrke as interim chief financial officer, effective immediately.

Mr. Gehrke is a seasoned finance executive with extensive experience in financial management, public company reporting and corporate governance. Over the course of his career, he has held senior finance roles across multiple sectors, and Crown corporations, where he has been responsible for financial reporting, internal controls, budgeting and strategic financial planning.

Mr. Gehrke brings strong expertise in regulatory compliance.

The company believes that Mr. Gehrke's depth of financial and operational experience will support District Mines as it advances its corporate and strategic initiatives.

About District Mines Ltd.

District Mines explores and develops petroleum and natural gas reserves in Western Canada.