Mr. Ryan Kalt reports

EARLY WARNING NOTICE REGARDING DIXIE GOLD INC.

Ryan Kalt has acquired additional common shares of Dixie Gold Inc., represented by 806,000 common shares acquired on a direct and indirect basis between Nov. 21, 2024, and May 23, 2025 (inclusive), and the aggregate of said shares representing 2.54 per cent of the common shares of the issuer, with such shares having been purchased through open market facilities. The common shares had aggregate direct and indirect open-market consideration of $35,340 paid for them.

The acquiror is an approved control person of the issuer (as that term is defined by securities regulations).

As at the date hereof, Mr. Kalt now owns and/or controls, on a direct and indirect basis (and in the aggregate), a total of 12,489,875 common shares of Dixie Gold, representing approximately 39.35 per cent of the issuer's currently issued and outstanding common shares.

A Form 62-103F1 is associated with this early warning news release and may be found on SEDAR+.

Mr. Kalt and/or corporate entities owned by him may acquire additional securities of the issuer either on the open market or through private acquisitions or sell securities of the issuer either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors. Other than the foregoing, Mr. Kalt and/or corporate entities owned by him do not have plans or any future intentions which relate to or would result in any of the other foregoing matters.