Mr. Ryan Batros reports

FIDELITY MINERALS ANNOUNCES CLOSING OF FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT FINANCING

Fidelity Minerals Corp. has closed the first tranche of the non-brokered private placement financing, previously announced in its news releases dated May 4, 2026, and May 21, 2026. In the first tranche, the company issued 3.16 million units at 20 cents per unit for gross proceeds of $632,000. Each unit consists of one common share and one-half transferable share purchase warrant with each whole warrant exercisable into one additional share at 30 cents per share until June 8, 2028. If the closing price of the company's common shares equals or exceeds 60 cents for 10 consecutive trading days, the company may accelerate the expiry date of the warrants by press release, after which the warrants will expire 30 days later. The private placement has been conditionally approved by the TSX Venture Exchange but remains subject to final TSX-V approval. The company intends to complete additional tranches of the private placement.

In connection with the first tranche, the company paid cash finders' fees of $42,840 and issued 214,200 broker warrants with each broker warrant exercisable into one additional share at 30 cents per share until June 8, 2028.

If the closing price of the company's common shares equals or exceeds 60 cents for 10 consecutive trading days, the company may accelerate the expiry date of the warrants by press release, after which the warrants will expire 30 days later.

The securities issued under the private placement, the broker warrants, and the shares issuable upon exercise of the warrants and broker warrants are subject to a statutory hold period expiring on Oct. 9, 2026.

The company intends to use the net proceeds of the financing to advance its Peruvian exploration and community relations programs and for general working capital.

About Fidelity Minerals Corp.

Fidelity Minerals is a TSX-V-listed resource company. Its principal focus is the 44.5-per-cent-owned (with a right to earn 50 per cent) brownfield Las Huaquillas project in northern Peru. The company has a near-term objective to confirm previous underground sampling results and prepare for drilling with an objective of preparing a new National Instrument 43-101-compliant mineral resource estimate. In addition to Los Socavones brownfield gold opportunity, Las Huaquillas offers copper upside potential through exploration of the two confirmed porphyry systems flanking Los Socavones epithermal gold zone.

The company is run by an experienced management team with diverse technical, market and commercial expertise, and is supported by committed and sophisticated investors focused on building long-term value. Fidelity's founder John Byrne has over 50 years experience in the mineral sector with a record of developing brownfield sites into profitable mines.

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