Mr. James Macintosh reports

GRAYCLIFF MOBILIZES DRILL AT SHAKESPEARE GOLD PROJECT FOR FURTHER METALLURGICAL TESTING AND TO EXPAND GOLD ZONE

Exploration drilling has commenced at Graycliff Exploration Ltd.'s 100-per-cent-owned Shakespeare gold project, located near Sudbury, Ont. Marking the company's return to active drilling at Shakespeare for the first time since Q1 2023, this campaign builds directly on metallurgical assay results previously announced.

Drilling is currently under way on a large-diameter (HQ) core hole positioned directly behind Hole A -- the first metallurgical test hole, which intersected extremely high-grade gold mineralization -- 454.34 grams per tonne gold over 7.0 metres (equivalent to 13.25 ounces per ton of gold). This new, fourth metallurgical hole is designed to sample material below Hole A to collect additional representative core for initial mineralogical, extraction and concentration testing of the gold mineralization.

The newly initiated drilling follows significant results from recent metallurgical test core assays and extensive historical work:

• High-grade metallurgical intercepts: highlighted by 454.34 g/t gold over 7.0 m starting at a depth of 123 metres, which included an ultrahigh-grade interval of 3,030 g/t gold over 1.0 m;
• Strong historical drilling: over four prior drilling phases (61 holes and over 12,500 m), 62 per cent of the drilled holes intersected gold mineralization, with approximately 40 per cent of those displaying visible gold.

Once this metallurgical hole is complete, Graycliff will immediately transition to drill testing high-priority targets to further define and expand the main gold zone.

"With the first tranche of our LIFE financing closed, we are thrilled to get the drills turning again at Shakespeare. With recent assay results like 3,030 g/t gold over 1.0 m, the strength of the mineralizing system here is undeniable," stated James Macintosh, chairman. "We feel Graycliff presents an exceptional value proposition with under 19 million shares issued and outstanding, $6-million market cap, and a funded exploration program. We believe the market is beginning to take notice, as reflected in recent independent third party reports highlighting our project, team and high-grade mineralization in today's strong gold price environment."

Qualified person and QA/QC (quality assurance/quality control)

Bruce Durham, PGeo, a qualified person as defined by National Instrument 43-101 and director of Graycliff Exploration, has reviewed and approved the technical content of this release. Core samples are processed under strict QA/QC protocols, including split-core sampling, reference standards and analysis at ISO 17025-accredited AGAT Laboratories in Thunder Bay, Ont., utilizing screen-metallic gold analysis where visible gold is present.

About Graycliff Exploration Ltd.

Graycliff Exploration is a mineral exploration company focused on its 1,366 hectares of prospective ground, located roughly 88 kilometres west of Sudbury on the prolific Canadian Shield. The company's Shakespeare project consists of one Crown patented lease, two Crown leases and 82 claims on a property that includes the historic Shakespeare gold mine, which operated from 1903 to 1907. Graycliff to date has drilled over 12,900 metres, with visible gold mineralization and significant gold assay intervals in numerous drill holes.

We seek Safe Harbor.