Vancouver, British Columbia--(Newsfile Corp. - July 20, 2026) - Cross River Ventures Corp. (CSE: CRVC.X) (the "Company" or "Cross River") is pleased to announce that, in connection with the Company's previously announced proposed business combination with Scotia Lithium Corp. (the "Transaction"), the Company intends to change its name from "Cross River Ventures Corp." to "Scotia Metals Corp." (the "Name Change") and to consolidate its common shares (the "Common Shares") on a thirty (30) to one (1) basis (the "Consolidation") with a proposed record date of July 24, 2026. The Company currently has 288,020,201 Common Shares issued and outstanding. Following the proposed Consolidation, the Company will have approximately 9,600,673 Common Shares issued and outstanding prior to rounding for fractional shares. Following the Transaction, the Company is expected to trade on the CSE under the symbol "SMET".

The Consolidation and Name Change were approved by the board of directors of the Company, and the Consolidation was approved by shareholders of the Company at the annual general meeting held on March 24, 2026, but the Consolidation and Name Change remain subject to the acceptance of the Canadian Securities Exchange (the "CSE").

Forward-Looking Statements

Certain statements in this press release that are not historical facts constitute forward-looking information based on assumptions currently believed to be valid. The words "anticipate," "believe," "ensure," "expect," "if," "intend," "estimate," "probable," "project," "forecasts," "predict," "outlook," "aim," "will," "could," "should," "would," "potential," "may," "might," "likely," "plan," "positioned," "strategy," and similar expressions or other words of similar meaning, and the negatives thereof, are intended to identify forward-looking information. Specific forward-looking information include, but are not limited to, statements regarding the Company's plans and expectations with respect to the Consolidation, Name Change and proposed Transaction; and other statements that are not historical facts.

These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those anticipated, including, but not limited to: the risk that any other condition to closing of the Transaction may not be satisfied; the risk that the closing of the Transaction might be delayed or not occur at all; the risk that the Transaction could be terminated by the parties in certain circumstances; potential adverse reactions or changes to business or employee relationships of the Company, including those resulting from the announcement or completion of the Transaction; the diversion of management time on Transaction-related issues; the ultimate timing, outcome and results of integrating the operations of the Company and Scotia Lithium; the effects of the business combination of the Company and Scotia Lithium, including the combined company's future financial condition, results of operations, strategy and plans; the ability of the combined company to realize anticipated synergies in the timeframe expected or at all; changes in capital markets and the ability of the combined company to finance operations in the manner expected; the risk that the Company or may not receive the required stock exchange and regulatory approvals for the Transaction; the expected re-listing of the common shares of the Company on the Exchange; the risk of any litigation relating to the proposed Transaction; the risk of changes in governmental regulations or enforcement practices; the effects of commodity prices; the risks of mining activities; and that operating costs and business disruption may be greater than expected following the public announcement or consummation of the Transaction. Expectations regarding business outlook, including changes in capital expenditures, cash flow generation, strategies for the combined company's operations, market conditions, legal, economic and regulatory conditions, and environmental matters are only forecasts regarding these matters, and are subject to risks, uncertainties and assumptions that may prove incorrect. Additional factors that could cause actual results to differ materially from those described above can be found in the Company's most recent management's discussion and analysis, which is available under the Company's SEDAR+ profile at www.sedarplus.ca.

All forward-looking statements speak only as of the date they are made and are based on information available at that time. The Company does not assume any obligation to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements were made or to reflect the occurrence of unanticipated events except as required by applicable securities laws. As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements.

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