Vancouver, British Columbia--(Newsfile Corp. - October 19, 2026) - Allegiance Resources Corp. (CSE: ALLG) (FSE: BG5) ("Allegiance" or the "Company") is pleased to welcome Dr. Ehsan Vahidi to the Company's Advisory Board.

Dr. Vahidi is Associate Professor and Department Chair of the Department of Mining and Metallurgical Engineering at the University of Nevada, Reno, where he holds the John N. Butler Endowed Professorship in Extractive Metallurgy. He earned his Ph.D. at Purdue University, where his research was supported by the U.S. Department of Energy's Critical Materials Institute, and went on to a postdoctoral appointment at the Massachusetts Institute of Technology (MIT). In 2024 he received the Freeport-McMoRan Inc. Career Development Grant from the Society for Mining, Metallurgy & Exploration (SME).

Dr. Vahidi will assess the Company's existing tungsten project and, subject to closing, its proposed British Columbia tungsten projects from a metallurgical and processing perspective, advise on processing routes and project economics, and help the Company identify and pursue grants and government funding, including programs of the U.S. Department of War and the U.S. Department of Energy. He is based in Reno, Nevada, the same state as the Company's Golden Scheelite tungsten project.

Highlights

• Dr. Vahidi is Department Chair of the Department of Mining and Metallurgical Engineering at the University of Nevada, Reno and holds the John N. Butler Endowed Professorship in Extractive Metallurgy.
• He earned his Ph.D. at Purdue University, with research supported by the U.S. Department of Energy's Critical Materials Institute, and completed a postdoctoral appointment at MIT.
• He received the 2024 Freeport-McMoRan Inc. Career Development Grant from the Society for Mining, Metallurgy & Exploration (SME).
• He will assess the Company's existing and proposed tungsten project portfolio from a metallurgical and processing perspective.
• He will help the Company identify and pursue grant and government funding opportunities, including programs of the U.S. Department of War and the U.S. Department of Energy.
• China accounted for an estimated 79% of global tungsten mine production in 2025, and the United States has had no commercial tungsten mine production since 2015.¹

Advisory Role

Dr. Vahidi will advise the Company on:

• the metallurgical and processing assessment of the Company's existing and proposed tungsten projects, to set priorities for test work and development planning;
• grant and government funding opportunities, including programs of the U.S. Department of War, the U.S. Department of Energy and similar programs;
• processing routes for scheelite and wolframite ores, from gravity concentration and flotation through hydrometallurgical routes to tungsten products such as ammonium paratungstate (APT);
• project economics, supported by techno economic analysis (TEA);
• the design of metallurgical and analytical test programs;
• life cycle assessment (LCA) of processing options and responsible production practices;
• processing and supply chain opportunities across tungsten and other critical minerals; and
• introductions to technical and industry contacts.

The Company intends to work with the University of Nevada, Reno's Department of Mining and Metallurgical Engineering toward a research collaboration to build its metallurgical and processing plans going forward.

Tungsten Processing and Supply

Metallurgical performance and processing costs are among the key factors that determine whether a tungsten deposit can be developed economically. The route chosen to concentrate the ore, the share of tungsten recovered, the quality of the final product and the cost of each step flow directly into project economics. Dr. Vahidi's work combines extractive metallurgy with techno economic analysis, which allows processing options and their economics to be weighed together from the earliest stages of test work.

China accounted for an estimated 79% of global tungsten mine production in 2025, the United States has had no commercial tungsten mine production since 2015, and China placed export controls on certain tungsten items in February 2025.^{1 3} From January 1, 2027, U.S. defense procurement restrictions applicable to covered tungsten materials extend through the supply chain to tungsten ore or feedstock mined or produced in China and certain other covered countries.² Allegiance is assembling tungsten projects in Nevada and British Columbia and, with Dr. Vahidi's guidance, is placing processing and funding strategy at the front of its plans.

Management Commentary

"We are honoured that Dr. Vahidi has chosen to join our Advisory Board," said Kelly Abbott, President and Chief Executive Officer of Allegiance. "He chairs the Department of Mining and Metallurgical Engineering at the University of Nevada, Reno, holds the John N. Butler Endowed Professorship in Extractive Metallurgy, earned his Ph.D. at Purdue and did his postdoctoral work at MIT. He has spent his career on the questions that decide whether a critical minerals project gets built: how you process it, how much you recover and what it costs. His first priorities with us are a metallurgical and processing review of our existing and proposed tungsten project portfolio and helping us identify the U.S. Department of War, U.S. Department of Energy and similar funding programs that fit our work. We look forward to working with Dr. Vahidi and to building our processing plans the right way, from the start."

"Tungsten is a critical material, and building resilient supply chains depends on understanding how these resources can be processed efficiently and responsibly," said Dr. Ehsan Vahidi. "I look forward to assessing Allegiance's projects from a metallurgical and processing perspective, helping the team evaluate the environmental and economic performance of processing routes for scheelite and wolframite ores early, and helping the Company identify and pursue grant and government funding opportunities, including programs of the U.S. Department of War and the U.S. Department of Energy, that support this kind of work."

Stock Option Grant

In connection with Dr. Vahidi's appointment, the Company will grant him 30,000 stock options under its stock option plan, on terms determined in accordance with the plan and applicable policies of the Canadian Securities Exchange.

About Dr. Ehsan Vahidi

Dr. Ehsan Vahidi is Associate Professor and Department Chair in the Department of Mining and Metallurgical Engineering at the University of Nevada, Reno, Mackay School of Earth Sciences and Engineering, where he holds the John N. Butler Endowed Professorship in Extractive Metallurgy. His research focuses on critical minerals recovery, sustainable mining and metallurgical processes, separation science, recycling, and the environmental and economic sustainability of resource production and processing. His work spans hydrometallurgy, chemical and biological leaching, selective separation and extraction, and the recovery of valuable materials from industrial waste streams, with applications in lithium and rare earth element recovery, photovoltaic recycling and other critical materials.

Before joining the University of Nevada, Reno, he was a postdoctoral associate in the Department of Civil and Environmental Engineering at the Massachusetts Institute of Technology (MIT). He holds a Ph.D. in Environmental and Ecological Engineering from Purdue University (2018), where his research was supported by the U.S. Department of Energy's Critical Materials Institute; an M.Eng. in Environmental Engineering from the University of South Florida (2014); an M.Sc. in Metallurgical Engineering from the University of Tehran (2008); and a B.Sc. in Metallurgical Engineering from Sharif University of Technology (2005).

His honors include the 2024 Freeport-McMoRan Inc. Career Development Grant from the Society for Mining, Metallurgy & Exploration (SME), the Excellence in Review Award from Resources, Conservation and Recycling (2019), the Purdue College of Engineering Outstanding Graduate Student Research Award (2018), the A.H. Ismail Interdisciplinary Program Doctoral Research Award (2018) and the Hugh W. and Edna M. Donnan Dissertation Fellowship (2017). He collaborates with industry partners and academic researchers on sustainable resource development, industrial decarbonization and circular economy strategies.

About Allegiance Resources Corp.

Allegiance Resources Corp. (CSE: ALLG) (FSE: BG5), formerly Pegmatite One Lithium and Gold Corp., is a Vancouver based critical minerals company focused on tungsten. Through its U.S. subsidiary, Wolfram Critical Minerals Inc., the Company holds a 100% interest in the Golden Scheelite tungsten project in Humboldt County, Nevada, comprising 17 lode claims covering 347 acres.

The Company has entered into a definitive agreement to acquire the Thanksgiving, Five T's and Rio Grande tungsten projects in British Columbia. On closing, Allegiance will hold four tungsten projects across Canada and the United States.

Market and Industry Data

This news release contains market and industry data obtained from government and public sources. The Company believes this data is reliable but has not independently verified it and cannot guarantee its accuracy or completeness.

Notes and Sources

1. U.S. Geological Survey, Mineral Commodity Summaries 2026, Tungsten. China's share is calculated from estimated 2025 mine production of 67,000 tonnes out of an estimated global total of 85,000 tonnes.
2. U.S. Defense Federal Acquisition Regulation Supplement (DFARS) clause 252.225-7052 and 10 U.S.C. 4872. From January 1, 2027, restrictions applicable to covered tungsten materials extend through the supply chain to tungsten ore or feedstock mined or produced in China and certain other covered countries.
3. Ministry of Commerce of the People's Republic of China (MOFCOM) and General Administration of Customs, Announcement No. 10 of 2025, imposing export controls on certain tungsten items in February 2025.

Additional Information

Dr. Vahidi serves on the Advisory Board in his personal capacity and not on behalf of the University of Nevada, Reno. Advisory Board members are not directors or officers of the Company, and the Advisory Board has no decision making authority.

The Company has not entered into any agreement with the University of Nevada, Reno. Any research collaboration with the University would be subject to a separate agreement with the University, and there is no assurance that any such agreement will be reached. The University of Nevada, Reno has not reviewed or endorsed the Company or this news release, and references to the University and to Dr. Vahidi's university title are made for identification purposes only.

The Company has not applied for, and has not been awarded, any grant or government funding. References to programs of the U.S. Department of War and the U.S. Department of Energy describe opportunities the Company intends to identify and pursue and do not imply any endorsement of the Company by any government agency. There is no assurance that the Company will apply for, qualify for or receive any grant or government funding.

The closing of the acquisition of the Thanksgiving, Five T's and Rio Grande tungsten projects remains subject to conditions, including the completion of a technical report prepared in accordance with National Instrument 43-101 and, if required, the acceptance of the Canadian Securities Exchange.

Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws. Forward looking information includes, but is not limited to, statements regarding: Dr. Vahidi's role and anticipated contributions to the Company, including his assessment of the Company's existing and proposed tungsten project portfolio from a metallurgical and processing perspective; the Company's intention to identify and pursue grant and government funding opportunities, including programs of the U.S. Department of War and the U.S. Department of Energy; the Company's intention to work with the University of Nevada, Reno's Department of Mining and Metallurgical Engineering toward a research collaboration, and the terms, timing and outcome of any such collaboration; the Company's plans for metallurgical and analytical test work and processing plans; the intended grant of stock options; the completion of the acquisition of the Thanksgiving, Five T's and Rio Grande tungsten projects; the Company's evaluation of opportunities in other critical minerals; the Company's objective of contributing to a tungsten supply chain outside China; the development of the Company's tungsten projects; and expectations regarding tungsten supply, demand and government policy, including U.S. defense procurement rules.

Forward-looking information is based on assumptions that management believes are reasonable, including that Dr. Vahidi remains available to the Company consistent with his university obligations; that the Company and the University of Nevada, Reno will be able to agree on terms for a research collaboration; that suitable grant and government funding programs will be available to companies such as Allegiance; that required regulatory approvals will be obtained; that the conditions to closing the British Columbia acquisition will be satisfied; and that the Company will have sufficient funding to carry out its plans. Forward looking information is subject to known and unknown risks and uncertainties that may cause actual results to differ materially, including: that Dr. Vahidi's availability is limited by his university duties or policies; that no research collaboration agreement is reached with the University of Nevada, Reno, or that one is reached on different terms; that the Company does not apply for, does not qualify for or is not awarded any grant or government funding; that changes in government programs, priorities or budgets reduce or eliminate available funding; that metallurgical test work does not produce favourable results; that the British Columbia acquisition does not close; that the Company does not identify or acquire any project in other critical minerals; that the Company does not advance any project to production; the availability of financing; changes in tungsten prices and markets; changes in government policy, trade measures and procurement rules; exploration and development risks; regulatory risks; and other risks described in the Company's public disclosure filed on SEDAR+ at www.sedarplus.ca.

Readers should not place undue reliance on forward looking information. The Company does not undertake to update forward looking information except as required by applicable securities laws.

The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this news release and does not accept responsibility for its adequacy or accuracy.

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