Mr. Paul Baay reports

TOUCHSTONE ANNOUNCES RESULTS OF 2024 SHAREHOLDERS' MEETING

All matters presented for approval at Touchstone Exploration Inc.'s 2024 annual meeting of shareholders, held virtually today, were fully authorized and approved.

A total of 66,700,107 common shares of the company were voted in connection with the meeting, representing 28.48 per cent of the common shares eligible to vote at the meeting.

During the business proceedings of the meeting, Touchstone's shareholders approved the following:

• Ordinary resolution to fix the number of directors of the company to be elected at the meeting at nine, with 64.36 per cent of the common shares represented at the meeting voting in favour of the resolution;
• All of the nominees proposed as directors were duly elected as directors of Touchstone, with the number and percentage of common shares represented at the meeting voting in favour of and withheld from voting for each of the individual nominees as set out in the attached table;
• Ordinary resolution to appoint the firm of KPMG LLP, chartered professional accountants, of Calgary, Alta., to serve as auditor of Touchstone for the ensuing year at such remuneration as may be determined by the company's board of directors, with 96.79 per cent of the common shares represented at the meeting voting in favour of the resolution;
• Ordinary resolution approving and reconfirming the continuation of the company's existing shareholder rights plan agreement, with 90.21 per cent of the common shares represented at the meeting voting in favour of the resolution.

Touchstone noted that the resolutions relating to the election of the director nominees were passed but that resolutions relating to non-executive director nominees did not attain the support of more than 80 per cent of the common shares voted at the meeting.

To understand the reasoning behind the votes, initial discussions were held with certain shareholders regarding aspects of corporate governance prior to the meeting. The company's board has been made aware of and acknowledges concerns relating to the size of the board. The board intends to take appropriate action to reduce the number of directors following the anticipated completion of Touchstone's previously announced proposed acquisition of Trinity Exploration and Production PLC.

Full voting results on all matters considered at the meeting are available under Touchstone's profile on SEDAR+.

About Touchstone Exploration Inc.

Touchstone, based in Calgary, Alta., is a company engaged in the business of acquiring interests in petroleum and natural gas rights and the exploration, development, production and sale of petroleum and natural gas. Touchstone is currently active in onshore properties located in the Republic of Trinidad and Tobago. The company's common shares are traded on the Toronto Stock Exchange and the Alternative Investment Market of the London Stock Exchange under the symbol TXP.

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