Mr. Jason Tong reports

EXGEN CLOSES SECOND AND FINAL TRANCHE OF UPSIZED PRIVATE PLACEMENT

ExGen Resources Inc. has closed the second and final tranche of its upsized non-brokered private placement, previously announced on June 9, 2026, and Aug. 20, 2026. Pursuant to the upsized offering, the company has issued 2,688,000 units at a price per unit of 10 cents for gross proceeds of $268,800 in this second-tranche closing. Combined with the first-tranche closing (announced June 25, 2026), the company issued a total of 10,738,000 units for combined gross proceeds of $1,073,800.

Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder thereof to acquire one common share at a price of 15 cents per share for a period of two years after the closing.

The net proceeds from the upsized offering will be used for potential exploration on ExGen's properties, potential future acquisitions and general working capital. No finders' fees were paid in connection with the second tranche of the upsized offering.

All securities issued in connection with the closing of the second tranche of the upsized offering are subject to a hold period that expires on Jan. 10, 2027. The upsized offering was conditionally approved by the TSX Venture Exchange and remains subject to final approval of the TSX-V. For further details on the upsized offering, please contact ExGen.

About ExGen Resources Inc.

ExGen is a project accelerator that seeks to finance exploration and development of the company's projects through joint ventures and partnership agreements. This approach significantly reduces the technical and financial risks for ExGen while maintaining the upside exposure to new discoveries and potential cash flow. ExGen intends to build a diverse portfolio of projects across exploration stages and various commodity groups. ExGen currently has 11 exploration projects in Canada and the United States, four NSR (net smelter return) royalties on projects in the Golden Triangle in British Columbia, Canada, and also holds a silver stream on the past-producing Andacollo gold mine in Chile, which is slated for a near-term production restart.

We seek Safe Harbor.