The company will offer to shareholders of record at Aug. 20, 2026, transferable rights to purchase shares of the company. The company will issue 1.25 rights for each share held. One right and two cents are required to purchase one unit, where each unit consists of one share and one share purchase warrant. Each four share purchase warrants and seven cents entitle the buyer to purchase one share of the company up to one year from the expiry date. The expiry date for the rights offering is Thursday, Sept. 10, 2026. As at Aug. 12, 2026, the company had 19,098,379 shares issued and outstanding. A standby commitment is associated with this rights offering for $200,000. A total of 2.5 million non-transferable bonus warrants will be issued to 10 standby guarantors for their commitments. Each bonus warrant will be exercisable to acquire one common share of the company at an exercise price of seven cents per share for one year.

Effective at the opening, Aug. 20, 2026, the shares of the company will trade ex rights and the rights will commence trading at that time. The company is classified as a mining company. The rights and warrants will not be listed for trading.

Summary

Basis of offering:  1.25 rights exercisable for one unit at two cents per unit

Record date:  Aug. 20, 2026

Shares trade ex rights:  Aug. 20, 2026

Rights called for trading:  not applicable

Rights trade for cash:  not applicable (Trading in the rights shall be cash same-day settlement on the expiry date.)

Rights expire:  Sept. 10, 2026, at 2 p.m. Vancouver time

Authorized jurisdictions:  all provinces and territories of Canada except Quebec

For further details, please refer to the company's rights offering circular dated Aug. 12, 2026.