Mr. Peter Berdusco reports

PURECORE CLOSES $3.52M OVERSUBSCRIBED NON-BROKERED PRIVATE PLACEMENT

Further to Purecore Metals Inc.'s news releases dated Oct. 2, 2026, and Oct. 15, 2026, it has closed its previously announced non-brokered private placement for aggregate gross proceeds of $3,523,754.50 by issuing:

• A total of 1,000,668 flow-through units of the company (the FT units) at a price of $1.50 per FT unit, for aggregate gross proceeds of $1,501,002. Each FT unit consists of one common share of the company to be issued as a flow-through share within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and one common share purchase warrant of the company. Each warrant comprising the FT units will entitle the holder thereof to acquire one additional non-flow-through common share at an exercise price of $2.00 per warrant share for a period of 36 months from the closing date of the offering, subject to acceleration as described below.
• A total of 1,498,335 hard-dollar units of the company (the HD units) at a price of $1.35 per HD unit, for aggregate gross proceeds of $2,022,752.50. Each HD unit consists of one common share and one warrant. Each warrant comprising the HD units will entitle the holder thereof to acquire one warrant share at an exercise price of $2.00 per warrant share for a period of 36 months from the closing date of the offering, subject to acceleration as described below.

Warrant acceleration

The warrants are subject to an acceleration provision.

At any time following the date that is four months and one day after the closing date of the offering and before the expiry date of the warrants, if the closing price of the common shares on the Canadian Securities Exchange (the CSE) is equal to or greater than $2.50 per common share for 10 consecutive trading days, the company may accelerate the expiry date of the warrants by providing notice to the holders thereof by way of news release.

In such event, any warrants that remain unexercised will expire at 5 p.m. (Vancouver time) on the 30th day following the date of such notice.

Finders' fees

In connection with the offering, the company paid an aggregate cash finder's fee of $28,175.17 and issued an aggregate of 20,871 non-transferable non-flow-through finders' warrants, each exercisable to acquire one common share at a price of $2.00 for a period of 36 months from the date of issuance and subject to the acceleration provision described above. The cash commission represents 7 per cent of the gross proceeds raised from investors introduced to the company by the finders. The finders' warrants are equal in number to 7 per cent of the number of HD units purchased by investors introduced to the company by the finders.

Use of proceeds

The net proceeds from the sale of the HD units are expected to be used to advance the company's mineral exploration activities, for property-related expenditures and acquisitions, consulting/advisory services, and for general corporate and working capital purposes including marketing and investor relations activities.

The gross proceeds allocated to the common shares comprising the FT units will be used by the company to incur eligible Canadian exploration expenses that are intended to qualify as flow-through mining expenditures or flow-through critical mineral mining expenditures, as such terms are defined in the tax act.

The company intends to renounce qualifying expenditures to FT unit subscribers, with an effective date no later than Dec. 31, 2026, in an amount not less than the gross proceeds allocated to the common shares comprising the FT units.

All securities issued pursuant to the offering are subject to a four-month hold period from their date of issuance in accordance with applicable Canadian securities laws and the policies of the CSE.

The securities issued under the offering are offered pursuant to applicable exemptions from the prospectus requirements of Canadian securities laws.

Market-making agreement with ICP Securities Inc.

The company also announces that it has engaged ICP Securities to provide market-making services.

ICP will provide market-making services in accordance with CSE policies. ICP will trade common shares on the CSE and all other trading venues with the objective of maintaining a reasonable market and improving the liquidity of the company's common shares.

ICP will be paid a monthly fee of $7,500 plus applicable taxes. The agreement is for an initial term of three months, commencing on Oct. 13, 2026, and will renew for additional one-month terms unless terminated by either party with 30-day notice. ICP will not receive shares or stock options as compensation.

ICP is an arm's-length party to the company. ICP is a Toronto-based CIRO dealer-member that specializes in market-making and liquidity provision. ICP is located at 204, 251 Queens Quay East, Toronto, Ont., M5A 0X3, and can be reached at 647-873-8519 or by e-mail at david@icpartners.ca.

About Purecore Metals Inc.

Purecore Metals is a Canadian mineral exploration company focused on identifying, acquiring, and advancing uranium and copper assets that are critical to the next generation of energy infrastructure.

The company's strategy is focused on building a portfolio of high-quality exploration and development opportunities with the potential to host significant scale.

We seek Safe Harbor.