Mr. Michael Nikiforuk reports

GOLDCOAST RESOURCE CORP. CONFIRMS GOVERNMENT OF GHANA TO ISSUE PUBLIC STATEMENT CLARIFYING GOLDCOAST'S LICENSES HAVE NOT BEEN SUSPENDED

Goldcoast Resource Corp. has wished to clarify the status of its offshore licences in the Republic of Ghana.

On Oct. 9, 2026, the company became aware that the office of the secretary to the President of the Republic of Ghana issued a letter to the National Fisheries Association of Ghana stating that Goldcoast's offshore licences had been suspended. The company did not receive this letter and confirms that this statement is not accurate. Goldcoast's offshore licences have not been suspended and remain valid and in good standing as confirmed by a letter dated Oct. 8, 2026, issued by the Minerals Commission of Ghana, the sector agency in charge of issuing and revoking such licences.

Today, the company's chairman, Sam Jonah, KBE, OSG, and Goldcoast director and counsel, Bobby Banson, met with regulatory authorities in Accra. The purpose of the meeting was to bring the inaccuracies in the Oct. 9 letter to the attention of the government and to request that they be formally corrected.

In that meeting, the government authorities assured that a statement will be issued confirming that Goldcoast's licences have not been suspended. The company will announce when that statement has been issued.

"We appreciate the prompt engagement of the government authorities in addressing this matter," said Mr. Jonah, chairman of Goldcoast. "Our licences are in good standing, and we welcome the government's commitment to correct the public record. Goldcoast has always conducted its work in Ghana with respect for the law, the regulators and the communities who share the coastline. We will continue to engage openly with all stakeholders, including the fishing community, as we move forward."

About Goldcoast Resource Corp.

Goldcoast is a Canadian mineral exploration company focused on offshore gold in Ghana, Africa's largest gold-producing country. The company holds a district-scale, 10,000-square-kilometre package of reconnaissance licences covering approximately 53 per cent of Ghana's offshore coastline -- the only place on Earth where three major rivers, carrying gold-rich bedload eroded from world-class gold belts over interglacial periods, converge on a shallow continental shelf. The offshore recovery of minerals from unconsolidated marine sediments is an established industry worldwide, with long-running precedents, including Debmarine Namibia's marine diamond operations, Pt Timah's offshore tin operations in Indonesia and the United Kingdom's Crown Estate marine aggregates sector.

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