Mr. Patrick Power reports

LAKE WINN RESOURCES ANNOUNCES CLOSING OF SHARES FOR DEBT SETTLEMENT

Lake Winn Resources Corp., pursuant to its news release dated June 9, 2026, has closed its previously announced share-for-debt transaction. The final debt settlement consisted of the conversion of an aggregate of $454,573.05 in debt owed to certain creditors of the company for 6,993,430 common shares of the company at a deemed price of 6.5 cents per debt share (1).

Certain insiders of the company participated in the debt settlement and are related parties of the company pursuant to Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. Related party involvement in the debt settlement constitutes a related party transaction. The company is relying on the exemption from the valuation requirement and minority approval pursuant to subsections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the deemed value of the debt settlement shares issued to insiders does not represent more than 25 per cent of the company's market capitalization, as determined in accordance with MI 61-101.

All debt shares issued in connection with the debt settlement are subject to a statutory hold period of four months plus a day from the date of issuance of the debt shares in accordance with applicable securities legislation. The debt settlement is subject to final approval of the TSX Venture Exchange.

(1) The number of debt shares was rounded down to the nearest whole number to avoid any fractional issuances.

We seek Safe Harbor.