Mr. Carson Phillips reports

ELTON RESOURCES ANNOUNCES COMMENCEMENT OF TRADING ON THE TSXV

Further to its news releases dated April 16, 2026, May 27, 2026, July 16, 2026, Sept. 11, 2026, Sept. 23, 2026, and Sept. 29, 2026, Elton Resources Corp.'s (formerly, Chicane Capital I Corp.) common shares have commenced trading on the TSX Venture Exchange under the symbol DBAY at market open on Oct. 6, 2026. The company is focused on the exploration and development of its flagship Darnley Bay project, which is located in Northwest Territories, Canada.

Carson Phillips, chief executive officer of the company, commented: "We believe Darnley Bay represents one of the most compelling geophysical anomalies in the world, and the closing of this transaction marks a historical moment for the project. The scale and intensity of the Darnley Bay anomaly have attracted scientific and exploration interest for decades, yet the fundamental question of what lies beneath Darnley Bay has remained unanswered. In 2018, a magnetotellurics survey not only identified the source of the anomaly but it also identified over 10 large-scale targets across the project area, demonstrating clear district-scale potential. For the first time, we plan to advance these targets with the focused capital, technical expertise and a robust drilling program that an anomaly of this magnitude deserves."

Darnley Bay project

Darnley Bay is host to a large gravity and magnetic anomaly, and is considered to be one of the strongest isolated gravity anomalies in the world. The Darnley Bay anomaly exhibits a measured gravity amplitude of 132 mGal, with dimensions of 80 kilometres by 100 kilometres, and a coincident magnetic anomaly with an amplitude of 1,350 nT. The anomaly is considered prospective for nickel-copper-platinum group elements (Ni-Cu-PGE). Its source has drawn favourable comparisons to the prolific mining camps of Sudbury (Canada), Noril'sk (Russia) and the Bushveld complex (South Africa) by the Geological Survey of Canada, geological consultants and major mining companies. In July, 2018, a magnetotelluric survey was completed by Quantec Geoscience over a 40 by 50 km area on the anomaly. The results identified several targets that are expected to be followed up through the company's future exploration drill program.

Market-making agreement

The company is also pleased to announce that it has engaged the services of ICP Securities Inc. to provide automated market-making services, including use of its proprietary algorithm, ICP Premium in compliance with the policies and guidelines of the TSX Venture Exchange and other applicable legislation. ICP will be paid a monthly fee of $7,500, plus applicable taxes. The agreement between the company and ICP was signed with a start date of Oct. 1, 2026, and is for four months and shall be automatically renewed for subsequent one-month terms unless either party provides at least 30-day written notice prior to the end of the initial term or an additional term, as applicable. There are no performance factors contained in the agreement and no options or other compensation in connection with the engagement. ICP and its clients may acquire an interest in the securities of the company in the future.

ICP is an arm's-length party to the company. ICP's market-making activity will be primarily to correct temporary imbalances in the supply and demand of the company's shares. ICP will be responsible for the costs it incurs in buying and selling the company's shares, and no third party will be providing funds or securities for the market-making activities.

About ICP Securities Inc.

ICP Securities is a Toronto-based Canadian Investment Regulatory Organization dealer-member that specializes in automated market making and liquidity provision, as well as having a proprietary market-making algorithm, ICP Premium, that enhances liquidity and quote health. Established in 2023, with a focus on market structure, execution and trading, ICP has leveraged its own proprietary technology to deliver high-quality liquidity provision and execution services to a broad array of public issuers and institutional investors.

Grant of options

The company also announces that as disclosed in its filing statement dated Sept. 23, 2026, a copy of which is available under its SEDAR+ profile, the company has granted an aggregate of 12,720,378 incentive stock options to certain eligible participants, including certain directors, officers and consultants of the company, under the company's equity incentive plan. Each option vests immediately and shall be exercisable to acquire one common share of the company for a period of 10 years at an exercise price of 20 cents.

Qualified person

The scientific and technical information in this press release has been reviewed and approved by David White, PGeo, a qualified person as such term is defined under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About Elton Resources Corp.

The company is a mining exploration company focused on the exploration and development of the Darnley Bay project in Northwest Territories, Canada. The company trades on the TSX Venture Exchange under the symbol DBAY.

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