Mr. Peter Berdusco reports

PURECORE SIGNS DEFINITIVE AGREEMENT WITH SKYHARBOUR FOR YURCHISON URANIUM PROPERTY OPTION IN ATHABASCA BASIN

Purecore Metals Inc., further to its previously disclosed news release dated July 16, 2026, has entered into a definitive agreement dated July 29, 2026, with Skyharbour Resources Ltd., whereby Purecore has acquired an option to earn up to a 100-per-cent interest in the Yurchison uranium property, located in the Athabasca basin of Northern Saskatchewan, Canada. The property consists of 22 claims covering approximately 35,028.93 hectares of mineral rights located in the province of Saskatchewan.

Project highlights:

• Large land position: 22 claims covering approximately 35,029 hectares in Saskatchewan's Athabasca basin;
• Strong access: located approximately 75 kilometres south of Cameco's Rabbit Lake operation, with Highway 905 crossing the property;
• Prospective geology: underlain by Wollaston Supergroup metasedimentary gneisses, including graphitic units adjacent to Archean granitic gneisses;
• Extensive historical work: exploration includes geophysical surveys, prospecting, mapping, sampling and drilling;
• Historical mineralization: sampling returned uranium values of 0.09 per cent to 0.30 per cent U3O8 and molybdenum values of 2,500 to 6,400 parts per million (ppm);
• Multiple target types: prospective for uranium, uranium-thorium-rare-earth elements and copper-lead-zinc mineralization;
• Underexplored potential: most work completed before 2000, with limited follow-up across much of the property;
• Modern geophysical data: airborne EM (electromagnetic), magnetic and radiometric surveys were completed in 2022 and 2023.

Peter Berdusco, president and chief executive officer of Purecore, commented: "We are very pleased to be working with Skyharbour and greatly value the opportunity to advance the Yurchison property. Global electricity demand is accelerating as AI, data centres and broader electrification place increasing pressure on power grids. We believe nuclear energy will play an increasingly important role in meeting this demand, strengthening the long-term outlook for uranium. Yurchison gives Purecore meaningful exposure to this powerful energy transition through a large, accessible and underexplored uranium property in the world's premier uranium jurisdiction -- the Athabasca basin."

Jordan Trimble, president and chief executive officer of Skyharbour, commented: "We are very pleased to sign this new option agreement as we continue to execute on our dual-pronged corporate strategy by unlocking value at our Athabasca basin project portfolio through strategic partnerships and prospect generation, as well as focused mineral exploration at our core assets of Moore and Russell. We are looking forward to working with Purecore and its capable management team as they advance the Yurchison project over the coming years with a considerable amount of exploration planned, as well as cash and share payments to Skyharbour. The project is ripe for new potential discoveries and updates will be forthcoming on exploration plans at Yurchison, which will complement our ongoing 2026 drill campaigns at various other projects in our portfolio."

Key terms of the option agreement

Pursuant to the option agreement, Purecore may acquire an initial 70-per-cent right, title and interest in and to the property, subject to a 2.0-per-cent net smelter return (NSR) royalty, by paying to Skyharbour a total of $350,000 in cash, issuing the total number of common shares in the capital of the company equivalent to $700,000 and incurring a minimum of $3.5-million in exploration expenditures on the property according to the terms detailed in the attached table.

Immediately upon satisfying all of the above conditions, Purecore will be deemed to have exercised the option and to have earned a 70-per-cent interest in and to the property, subject to the NSR royalty.

Purecore has the option to earn an additional 30 per cent in and to the property for a total 100-per-cent interest, subject to the NSR royalty, by making an additional cash payment of $3-million and issuing consideration shares with a value of $3-million, based on the 20-day VWAP (volume weighted average price) at the time of issuance, subject to minimum pricing rules of the Canadian Securities Exchange and subject to the 10-per-cent ownership clause, within 30 business days of earning the initial 70-per-cent interest. In the event that Purecore earns the initial 70-per-cent interest in the property and elects not to acquire the additional 30-per-cent interest, the parties may form a joint venture in respect of the property on terms to be agreed, with each party participating in proportion to its respective interest.

Purecore also has the right at any time to purchase one-half of the NSR royalty from Skyharbour in consideration of payment of $1-million to Skyharbour.

The transactions contemplated under the option agreement are subject to conditions, including the approval of the board of directors of each of Skyharbour and Purecore, no material adverse change having occurred to the business of either party, and receipt of all necessary regulatory approvals, including the approval of the CSE. All consideration shares issued under the option agreement will be subject to a four-month hold period from the date of issuance according to applicable securities laws and the policies of the CSE.

Yurchison property summary

Yurchison consists of 22 claims covering approximately 35,029 hectares of mineral tenure and is roughly 75 kilometres (km) south of Cameco's Rabbit Lake operation, with Highway 905 running through the claims. It is underlain by Wollaston Supergroup metasedimentary gneisses, including psammopelitic to pelitic gneisses, graphitic pelitic gneisses adjacent to Archean granitic gneisses in the eastern Wollaston domain.

The property area has seen significant historical exploration, including airborne electromagnetic, magnetic and radiometric surveys, as well as ground magnetic, EM, IP (induced polarziation) and gravity surveys, prospecting, geological mapping, geochemical sampling, and drilling. The drilling was primarily conducted between the 1960s and 1980s, with additional work completed in the mid-1990s and 2000s. Prospecting near old trenches returned uranium (0.09 per cent to 0.30 per cent U3O8) and molybdenum (2,500 ppm to 6,400 ppm) mineralization in both outcrop and float samples. The property boasts strong discovery potential for both basement-hosted uranium mineralization, as well as copper, zinc and molybdenum mineralization.

The majority of the work at Yurchison was completed before 2000, with limited follow-up since, and most of the property remains underexplored. The historical exploration on the western side of Yurchison focused on uranium showings while on the eastern side of the property it was largely focused on exploring sedex-style Pb-Zn (lead and zinc) mineralization following the discovery of the historic George Lake Pb-Zn deposit proximal to the property. There are several uranium, molybdenum and thorium showings, which remain highly prospective for both basement-hosted uranium, pegmatite-hosted U-Th-REE (uranium, thorium and rare earth element), and sediment-hosted Cu-Pb-Zn (copper, lead and zinc) mineralization. The most recent work included airborne EM (VTEM (versatile time domain electromagnetic) and VLF-EM (very low frequency electromagnetic)), magnetics and radiometrics surveys flown in 2022 and 2023.

Qualified person

The technical information in this news release has been reviewed and approved by Dr. Dennis Lapoint, PGeo, an independent qualified person within the meaning of National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Purecore Metals Inc.

Purecore Metals is an exploration company building a uranium and copper portfolio focused on a single demand curve: the long-term global expansion of electricity demand driven by AI (artificial intelligence), data centres, nuclear power and Western defence supply chains.

We seek Safe Harbor.