Mr. Errol Farr reports

LOYALIST ANNOUNCED DAVID DRINKWATER A CHAIRMAN OF THE BOARD OF DIRECTORS -- RELEASE OF Q1 RESULTS

Loyalist Exploration Ltd. has reappointed David Drinkwater as chairman of the board of directors of the company. The company has also filed its first quarter 2026 financial statements and management's discussion and analysis on SEDAR+ and on its website.

About David Drinkwater

Mr. Drinkwater's background includes working in various senior executive roles in different Canadian businesses, in several board positions of public companies and as a partner in a leading law firm.

In April, 2009, Mr. Drinkwater became the executive chairman of Rothschild Canada, part of the Rothschild Global Financial Advisory practice. He was a member of the North American senior leadership team, and played a lead role in domestic and international transactions across a wide range of industries advising corporations and their boards.

Mr. Drinkwater became the chief legal officer of Nortel in December, 2005, and was a member of the Nortel senior leadership team reporting to the chief executive officer until March, 2009. From May to November, 2007, he served as acting chief financial officer of Nortel. Further, he led and co-ordinated Nortel's global government relations activities.

In April, 2003, Mr. Drinkwater assumed the position of chief financial officer at Ontario Power Generation, and was responsible for directing treasury operations and finance programs, including corporate financial reporting, pension investment oversight, audit and taxation. He was also responsible for various other corporate and operational areas, including business and corporate development, information technology, and the CIO office, the supply chain and real estate activities, and the legal function. He was a member of the executive committee and chaired each of the operations committee, the pension committee and the risk oversight committee.

Prior to joining OPG, Mr. Drinkwater was special adviser to the chairman and chief executive officer of Bell Canada, where his responsibilities included strategic planning and corporate development. From 1996 to 1998, he served in the position of group vice-president, law, and general counsel for Bell Canada.

Prior to joining Bell Canada, he held various senior positions with the law firm of Osler, Hoskin & Harcourt in Toronto and London, England. These positions included head of the corporate department and the securities practice group and managing partner of its international affiliate, Osler Renault. During his time in London, he was actively involved in the United Kingdom privatization program and worked on various privatizations within the telecom, energy and power sectors, as well as various international merger and acquisition transactions.

Board positions and related experience:

• Mr. Drinkwater served as chair of Loyalist from June, 2019, to December, 2023.
• He previously served as chair of the board and member of the audit committee of TransAlta Renewables Inc.
• He has been involved in various shareholder activism matters. During part of its restructuring, he served on the board of directors of Hollinger Inc. He was appointed by an activist shareholder, was a member of the audit committee and served as a chair of the litigation committee.
• Mr. Drinkwater served on a three-person special litigation committee relating to disputes arising from a restructuring of the business of Cinar Corp.

Education

Mr. Drinkwater attended the Richard Ivey School of Business at the University of Western Ontario where he obtained an honours bachelor of business degree. He holds a bachelor of law degree from Dalhousie University in Halifax, N.S., and a master of law degree from the London School of Economics at the University of London in London, England.

About Loyalist Exploration Ltd.

Loyalist is a mineral exploration company concentrating on acquiring, exploring and developing quality mineral properties in Canada. The company is currently focused on its buy Timmins strategy, with the recent acquisitions of the Tully gold property, the Loveland nickel/copper/gold property, the Gold Rush gold/silver property and the DeSantis gold property, all located in the Timmins, Ont., mining district.

We seek Safe Harbor.