File: '\\swfile\EmailIn\20260114 142353 Attachment CMT - 20260114 - NR - Announce Share Consolidation.docx'

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(CSE: CMT) (OTCQB: CMTNF) (FWB: 7KO)

CULLINAN METALS ANNOUNCES SHARE CONSOLIDATION

Vancouver, British Columbia, January 14, 2026 - Cullinan Metals Corp. (CSE: CMT) (OTCQB: CMTNF) (the "Company" or "Cullinan") announces that the board of directors of the Company has approved a consolidation of the Company's issued and outstanding common shares on the basis of one new common share for every 10 existing common shares (the "Consolidation").

As a result of the Consolidation, the 32,849,096 common shares issued and outstanding prior to the Consolidation will be reduced to approximately 3,284,909 common shares. Each shareholder's percentage ownership in the Company and proportional voting power remains unchanged after the Consolidation, except for minor changes and adjustments resulting from the treatment of any fractional common shares.

The Company will not be issuing fractional post-Consolidation common shares. Where the Consolidation would otherwise result in a shareholder being entitled to a fractional common share, the number of post-Consolidation common shares issued to such shareholder shall be rounded to the nearest whole number of post-Consolidation common shares. The Consolidation will not require shareholder approval as the Consolidation is being effected at a ratio of not more than 10:1, the Company has not completed any other consolidations within the past 24 months from the proposed effected date of the Consolidation, and the Company's Articles provide that a Consolidation may be effected solely with director approval. In connection with the Consolidation, the Company expects to send letters of transmittal to registered holders of its common shares for use in transmitting their existing share certificates ("Existing Certificates") to the Company's registrar and transfer agent, Odyssey Trust Company, in exchange for new certificates ("New Certificates") representing the number of post-Consolidation common shares to which such shareholder is entitled as a result of the Consolidation. No delivery of a New Certificate to a shareholder will be made until the shareholder has surrendered its Existing Certificates. Until surrendered, each Existing Certificate shall be deemed for all purposes to represent the number of post-Consolidation common shares to which the holder is entitled as a result of the Consolidation.

The Board of Directors believes that the proposed Consolidation will better position the Company to raise the funds it requires to continue financing its business activities.

The Company expects the Consolidation to be effective and the trading of the common shares of the Company reflecting the Consolidation to commence on or about February 2, 2026

On Behalf of the Board,

CULLINAN METALS CORP.

Marc Enright-Morin

CEO, Director

(604) 428-7050

About Cullinan Metals Corp.

Cullinan Metals Corp. is a Canadian mining and exploration company focused on the evaluation and potential development of energy metals. The Company is actively reviewing and pursuing opportunities in key energy resources, including copper, graphite, and lithium, in select jurisdictions worldwide.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include, but are not limited to, statements regarding management plans, future operations, and the appointment of a permanent Chief Financial Officer. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied by such forward-looking statements.

Readers are cautioned not to place undue reliance on forward-looking statements. Actual results and future events may differ materially from those anticipated due to various risks and uncertainties, including those disclosed in the Company's management's discussion and analysis and other disclosure documents available under the Company's profile on SEDAR+ at www.sedarplus.ca and on the Canadian Securities Exchange website at www.thecse.com. The Company undertakes no obligation to update or revise any forward-looking statements, except as required by applicable securities laws.