Mr. Brady Rak reports

APOGEE MINERALS EXPANDS KNIFE LAKE COPPER PROJECT LAND PACKAGE THROUGH ACQUISITION OF ADJACENT MINERAL CLAIMS FROM EAGLE PLAINS RESOURCES

Apogee Minerals Ltd. has entered into a mineral property purchase and sale agreement dated Oct. 19, 2026, with Eagle Plains Resources Ltd., an arm's-length party, pursuant to which Apogee will acquire a 100-per-cent right, title and interest in and to five mineral claims comprising approximately 1,965 hectares located adjacent to and within the company's Knife Lake copper project in east-central Saskatchewan, subject to a 2.5-per-cent net smelter return royalty in favour of Eagle Plains as described below.

The Eagle Plains claims consist of two claims (MC00023467 and MC00022977) located immediately adjacent to the northern portion of the Knife Lake project and three claims (MC00023444, MC00023445 and MC00023447) located within the existing boundary of the Knife Lake project near the south end of the Knife Lake deposit and immediately east of it. The acquisition consolidates the company's land position around the Knife Lake deposit and adds prospective ground along the same stratigraphy that hosts the Knife Lake deposit and the company's regional targets. Upon closing of the transaction and together with the 54 claims comprising the Knife Lake project currently under option from Trident Resources Corp., the company's land position at Knife Lake will total 59 mineral claims comprising approximately 37,220 hectares.

Brady Rak, chief executive officer of Apogee, commented: "Consolidating the ground around the Knife Lake deposit has been a priority since we optioned the project. Two of these claims sit on our northern boundary, and the other three fill gaps inside the existing property, all along the same geological trend that hosts the known mineralization. With the land package expected to exceed 37,000 hectares on closing, we have room for new discoveries, and our first order of business is following up on the high-grade copper intercepts drilled by previous operators. Eldorado Gold's roughly $3.8-billion acquisition of Foran Mining and its McIlvenna Bay VMS deposit earlier this year says a great deal about how the majors view Saskatchewan and the prospectivity of this part of the province. Combine that with a copper price supported by real demand growth and limited new supply, and this is a good time to be advancing a near-surface copper deposit with more than 400 drill holes behind it."

Transaction highlights

Pursuant to the purchase agreement, in consideration for a 100-per-cent interest in the Eagle Plains claims, Apogee will pay to Eagle Plains $20,000 in cash, issue to Eagle Plains one million common shares of the company and grant to Eagle Plains a 2.5-per-cent net smelter return royalty on the Eagle Plains claims as follows.

The NSR royalty will be calculated and paid on a calendar quarter basis following the commencement of commercial production on the Eagle Plains claims. No finders' fees are payable in connection with the transaction.

Closing of the transaction remains subject to the receipt of acceptance of the TSX Venture Exchange and the satisfaction of customary closing conditions, including the transfer of the Eagle Plains claims to the company through the Mineral Administration Registry Saskatchewan system. The Eagle Plains claims are in good standing with the Province of Saskatchewan and are being acquired free and clear of any encumbrances other than the NSR royalty and customary permitted encumbrances.

About the Knife Lake project

The Knife Lake project is an exploration-stage copper, silver, zinc, gold and cobalt property located approximately 136 kilometres northwest of Flin Flon, Man., in east-central Saskatchewan, a jurisdiction consistently ranked among the top mining jurisdictions in the world by the Fraser Institute. The property hosts the Knife Lake deposit, a near-surface, stratabound volcanogenic-massive-sulphide-style deposit. The mineralized zone is approximately 15 metres thick on average and dips 30 degrees to 45 degrees eastward over a known strike length of approximately 4.5 kilometres across three zones (Central-South, Bay and North) with an average known downdip extension of approximately 300 metres.

The property benefits from a comprehensive database of more than 400 drill holes derived from historical and modern exploration programs completed between 1968 and 2022. The most recent work, completed by Rockridge Resources Ltd. (now Trident), comprised diamond drill programs in 2021 and 2022 totalling approximately 3,000 metres and a VTEM airborne geophysical survey in 2021. The 2021 VTEM survey data identified numerous conductive anomalies along the same prospective stratigraphy that hosts the Knife Lake deposit. Highlights from the 2022 drill program include drill hole KF22029, which intersected 15.75 metres of 1.91 per cent copper, 0.23 gram per tonne gold, 7.79 g/t silver, 0.30 per cent zinc and 0.01 per cent cobalt starting from 13.00 metres downhole. Reported intervals are drilled core lengths, and true thicknesses are undetermined. The property also hosts numerous regional exploration targets, including Redhill Lake, Scimitar Lake, Pistol Lake and Gilbert Lake.

Apogee holds the sole and exclusive right and option to acquire a 100-per-cent interest in the Knife Lake project from Trident Resources pursuant to an option agreement dated July 13, 2026, as previously announced in the company's news release dated July 14, 2026, and the closing news release dated Sept. 16, 2026.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by John Shmyr, PGeo, of Dahrouge Geological Consulting Ltd., a registered member of the Association of Professional Engineers and Geoscientists of Saskatchewan. Mr. Shmyr is a qualified person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects). Mr. Shmyr is independent of the company, has verified the drilling data disclosed in this news release against the company's digital database and the original laboratory certificates, and consents to the inclusion of the matters based on his information in the form and context in which it appears.

About Apogee Minerals Ltd.

Apogee is a Canadian copper and base metal exploration company that holds an option to acquire a 100-per-cent interest in the Knife Lake copper project. The asset comprises 54 mineral claims totalling approximately 35,255 hectares in east-central Saskatchewan, located approximately 136 kilometres northwest of Flin Flon, Man., and approximately 180 kilometres northeast of La Ronge, Sask. -- a jurisdiction consistently ranked among the top mining jurisdictions in the world by the Fraser Institute. The property hosts the Knife Lake deposit, a near-surface, stratabound volcanogenic-massive-sulphide-style copper-zinc-silver-gold-cobalt deposit.

Its goal is to build shareholder value through mineral project acquisitions and advancement, as well as through new mineral discoveries.

We seek Safe Harbor.