Mr. Brent Osmond reports

FIDDLEHEAD RESOURCES ANNOUNCES CLOSING OF SHARES FOR DEBT TRANSACTION

Fiddlehead Resources Corp., further to its Jan. 3, 2026, news release, has closed the previously announced non-arm's-length debt settlement of common shares of the company. Under the debt settlement, the company has settled the outstanding indebtedness in the amount of $242,161.60 owing to certain insiders of the company through the issuance of 4,843,232 common shares at a deemed price of five cents per common share.

The common shares issued in connection with the debt settlement are subject to a hold period of four months and a day from the date of closing.

The issuance of the common shares pursuant to the debt settlement is considered to be a related party transaction as defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The issuance of the common shares is exempt from the minority approval and formal valuation requirements of MI 61-101 pursuant to subsections 5.5(a) and 5.7(1)(a) of MI 61-101.

Early warning disclosure

This news release is further being disseminated as required by National Instrument 62-103, The Early Warning System and Take over Bid and Insider Reporting Issues, regarding the acquisition of securities of Brent Osmond, together with a joint actor. This news release is being issued to correct an incorrectly calculated share ownership position reported on Jan. 3, 2026.

Mr. Osmond, the chief executive officer and a director of the company, together with a joint actor, acquired an aggregate of 4,843,232 common shares pursuant to the debt settlement. Prior to the debt settlement, Mr. Osmond, together with the joint actor, owned or exercised control or direction over 2,051,334 common shares (not 2,397,667 common shares, as previously reported), 775,000 warrants (not 375,000 warrants) and 950,000 options, representing approximately 3.1 per cent (not 3.6 per cent) of the issued and outstanding common shares on a non-diluted basis, and approximately 5.5 per cent on a partially diluted basis. Following the debt settlement, Mr. Osmond, together with the joint actor beneficially owns or exercises control or direction over 6,894,566 common shares (not 7,240,899 common shares), 775,000 warrants (not 375,000 warrants) and 950,000 options, representing approximately 9.7 per cent (not 10.1 per cent) of the issued and outstanding common shares on a non-diluted basis, and approximately 11.8 per cent on a partially diluted basis.

For the purposes of NI 62-103, Mr. Osmond is no longer required to file an early warning report in respect of the debt settlement.

We seek Safe Harbor.