Mr. Brenan Isabelle reports

REEXPLORATION ANNOUNCES EFFECTIVE DATE OF FIVE-FOR-ONE SHARE CONSOLIDATION

Further to Reexploration Inc.'s news release dated Oct. 28, 2026, the TSX Venture Exchange has accepted the consolidation of the company's issued and outstanding common shares on the basis of one postconsolidation common share for every five preconsolidation common shares.

Effective date and trading

The consolidation will be effective on Friday, Nov. 6, 2026.

The common shares are expected to begin trading on the TSX-V on a postconsolidation basis at the opening of the market on Friday, Nov. 6, 2026.

The company's name and trading symbol (REE) will not change. The postconsolidation common shares will trade under the new Cusip No. 75865L 20 8 and ISIN CA 75865L 20 8 4.

Details of the consolidation

The number of issued and outstanding common shares will be reduced from 135,229,107 to approximately 27,045,821 common shares, subject to adjustment for rounding.

No fractional common shares will be issued. Any fractional common share resulting from the consolidation will be rounded up to the nearest whole common share and no cash will be paid in lieu of fractional shares.

The exercise price and number of common shares issuable on the exercise of the company's outstanding stock options and warrants will be adjusted proportionately in accordance with their terms.

The consolidation will not affect any shareholder's percentage ownership interest in the company, except for minor changes resulting from the rounding of fractional shares.

Registered and beneficial shareholders

No action is required by shareholders in connection with the consolidation. All registered shareholders of the company hold their common shares in direct registration system (DRS) form and no letter of transmittal will be mailed. Following the effective date, the company's transfer agent, Computershare Investor Services Inc., will send each registered shareholder a DRS advice reflecting the number of postconsolidation common shares held. Shareholders who hold their common shares through a broker, investment dealer, bank or other intermediary will have their accounts updated in accordance with the intermediary's usual procedures and should direct any questions to their intermediary.

About Reexploration Inc.

Reexploration is a Canadian exploration company advancing the Eureka project in central Namibia. Eureka combines rare earth exploration, supported by the production of a clean monazite concentrate, with uranium exploration in an established uranium region. The company is evaluating both opportunities through geological work and targeted exploration.

We seek Safe Harbor.