Mr. Stephen Shefsky reports

JAMES BAY RESOURCES LIMITED ANNOUNCES CLOSING OF THIRD TRANCHE OF OFFERING

James Bay Resources Ltd., on April 21, 2026, closed the third tranche of its non-brokered private placement of common shares announced on Oct. 28, 2025. The first tranche of the offering raised gross proceeds of $75,000 from the issuance of 3.75 million common shares at a price of two cents per common share. The second tranche of the offering raised gross proceeds of $107,500 from the issuance of 5,375,000 common shares at a price of two cents per common share. The third tranche of the offering raised gross proceeds of $125,000 from the issuance of 6.25 million common shares at a price of two cents per common share.

The common shares issued pursuant to the third tranche of the offering will be subject to a four-month-plus-one-day regulatory hold period commencing from the date of closing of the third tranche.

About James Bay Resources Ltd.

James Bay is a Canadian company, with 96,451,241 issued and outstanding as of the date of this news release, and trades on the Canadian Securities Exchange under the symbol JBR.

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