Vancouver, British Columbia--(Newsfile Corp. - July 30, 2026) - Peak Discovery Capital Ltd. (TSXV: PEC.H) (the "Company" or "Peak Discovery") announces that it has further extended its previously announced non-binding letter of intent (the "LOI") regarding its proposed reverse take-over transaction (the "RTO"). Pursuant to the LOI, the Company would acquire contractual rights relating to the exploration of a mineral property in the Philippines. The LOI has now been extended to August 14, 2026.

The Company continues to conduct due diligence and negotiate the definitive agreements; however, no definitive agreements have been executed. The proposed RTO remains subject to, among other things, satisfactory completion of due diligence, execution of definitive agreements, receipt of all required regulatory and TSX Venture Exchange approvals, and satisfaction of other customary closing conditions. There can be no assurance that the proposed RTO will be completed as contemplated, or at all.

Update on Private Placement and Policy 5.9 Related Party Disclosure

Further to the Company's news release dated July 21, 2026, announcing the closing of its non-brokered bridge financing private placement (the "Offering"), the Company is providing additional disclosure pursuant to TSX Venture Exchange Policy 5.9 ("Policy 5.9") and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101").

One insider of the Company acquired 50,000 common shares under the Offering. Such participation constituted a "related party transaction" within the meaning of Policy 5.9 and MI 61-101, as adopted by Policy 5.9. The Company relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of the related party's participation in the Offering, as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involved the related party, exceeded 25% of the Company's market capitalization (as determined under MI 61-101).

About Peak Discovery Capital Ltd.

The company's principal business is the identification and evaluation of assets or businesses for potential merger and acquisition transactions.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.

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