Mr. Matthew Gollat reports

ERRINGTON METALS CORP. ANNOUNCES UPSIZE OF PRIVATE PLACEMENT TO $30 MILLION

Errington Metals Corp. has amended its engagement with Stifel Canada in connection with a best effort private placement offering that has been increased to aggregate gross proceeds of up to $30,003,630. The company and Stifel Canada, on its own behalf and on behalf of a syndicate of agents, have entered into an amended agreement pursuant to which the agents have agreed to offer for sale, on a best effort agency private placement basis: (i) up to 5,715,000 common shares of the company at a price of $3.50 per offered common share for gross proceeds of up to $20,002,500; and (ii) up to 1,927,000 common shares of the company that will qualify as flow-through shares within the meaning of Subsection 66(15) of the Income Tax Act (Canada) at a price of $5.19 per flow-through share for gross proceeds of up to $10,001,130. The offered common shares and the flow-through shares are collectively referred to as the offered securities.

The company has agreed to grant the agents an option to sell up to an additional 15 per cent of the number of offered securities sold under the offering, exercisable in whole or in part at any time up to 48 hours prior to the closing of the offering, on the same terms as the offering.

The net proceeds of the offering from the sale of the offered common shares will be used for continued exploration of the company's Sudbury basin complex and for general working capital purposes. The company will use the gross proceeds from the sale of the flow-through shares pursuant to the offering to incur (or be deemed to incur) eligible resource exploration expenses which will qualify as: (i) Canadian exploration expenses (as defined in the tax act); (ii) flow-through critical mineral mining expenditures (as defined in Subsection 127(9) of the tax act); and (iii) eligible Ontario critical mineral exploration expenditures within the meaning of Subsection 103(4.1) of the Taxation Act, 2007 (Ontario). Qualifying expenditures in an aggregate amount not less than the gross proceeds raised from the issue of the flow-through shares will be incurred (or deemed to be incurred) by the company on or before Dec. 31, 2027, and will be renounced by the company to the initial purchasers of the flow-through shares with an effective date no later than Dec. 31, 2026.

The offered securities will be offered by way of private placement in each of the provinces and territories of Canada on a basis exempt from the prospectus requirements of applicable Canadian securities laws and, in the case of the offered common shares, in the United States on a private placement basis to qualified institutional buyers and/or institutional accredited investors, and in such other jurisdictions as may be permitted provided that no prospectus, registration statement or other similar document is required to be filed in the United States or such other jurisdiction. The offered securities will be subject to a statutory hold period in Canada of four months and one day from the closing date (as defined below). No offering memorandum will be delivered in connection with the offering.

The offering is expected to close on or about Aug. 11, 2026, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

About Errington Metals Corp.

Errington is a focused Canadian exploration and development company targeting critical and precious metals. The company is advancing its wholly owned Sudbury basin project, which hosts high-grade volcanogenic-massive-sulphide-style mineralization in the world-renowned Sudbury mining district. Errington Metals aims to efficiently assess this opportunity and advance high-quality targets through systematic drilling and technical studies.

In 2026, the company is advancing a planned 45,000-metre drill program designed to support an initial mineral resource estimate and test regional targets.

We seek Safe Harbor.