Mr. Oscar Mendoza reports

KRAIT CRITICAL MINERALS COMPLETES ACQUISITION OF U.S. ANTIMONY PROJECT PORTFOLIO AND INCREASES PREVIOUSLY ANNOUNCED OFFERING TO $2.0 MILLION

Krait Critical Minerals Corp. has completed its previously announced acquisition of all of the issued and outstanding membership interests of Nevada Hills Antimony LLC, pursuant to the securities exchange agreement dated Sept. 6, 2026, among Krait, Nevada Hills and the members of Nevada Hills.

The company is also pleased to announce that, further to its news release dated Sept. 8, 2026, it has increased its previously announced non-brokered private placement from gross proceeds of up to $1.5-million to gross proceeds of up to $2-million.

Nevada Hills transaction

Nevada Hills holds contractual rights to acquire the Bales antimony project pursuant to a mineral property purchase agreement with the underlying property owner and owns certain additional mineral claims and related assets located in Okanogan county, Washington. Upon closing of the acquisition, Nevada Hills became a wholly owned subsidiary of the company.

Pursuant to the terms of the securities exchange agreement, the company:

• Paid aggregate cash consideration of $100,000 (U.S.), of which $25,000 (U.S.) had previously been paid pursuant to the exclusivity and standstill agreement between the parties and credited against the purchase price;
• Issued an aggregate of 2.5 million common shares of the company at a deemed price of 87 cents per consideration share to the former members of Nevada Hills.

The consideration shares are subject to a statutory hold period expiring four months and one day from the date of issuance, as well as the applicable exchange hold period, in accordance with applicable securities laws and the policies of the Canadian Securities Exchange.

Oscar Mendoza, chief executive officer and director of Krait, commented: "Completion of the Nevada Hills acquisition represents an important milestone for Krait as we continue evaluating antimony opportunities in North America. Through Nevada Hills, the company has acquired contractual rights relating to the Bales antimony project, together with additional mineral claims in Washington state. Our immediate focus will be on advancing our legal, technical and property review while continuing to progress the Goldbar Spider Lake project in Ontario."

Nevada Hills assets

Through its acquisition of Nevada Hills, Krait has acquired:

• Nevada Hills' rights and obligations under the Bales mineral property purchase agreement;
• Additional mineral claims contiguous to the Bales antimony project;
• Four mineral claims comprising the Antimony Bell project.

Under the Bales mineral property purchase agreement, Nevada Hills has the contractual right to acquire the underlying Bales antimony project from the property owner upon satisfaction of the remaining payment obligations and other terms of that agreement. Krait did not acquire direct ownership of the eight Bales claims as part of the closing of the Nevada Hills acquisition.

Upsized private placement

Further to the company's news release dated Sept. 8, 2026, the company has increased the size of the offering from gross proceeds of up to $1.5-million to gross proceeds of up to $2-million. Now the offering will consist of up to 2,666,667 common shares of the company at a price of 75 cents per share. No warrants will be issued in connection with the offering.

The net proceeds of the offering are expected to be used for exploration expenditures at the company's Goldbar Spider Lake project, the continued evaluation of the Nevada Hills assets, including the Bales antimony project and Antimony Bell project, and for general working capital and corporate purposes.

Completion of the offering remains subject to receipt of all required regulatory approvals, including that of the CSE. The company may pay finders' fees in connection with the offering in accordance with applicable securities laws and CSE policies. Any securities issued under the offering will be subject to the applicable statutory hold period in accordance with Canadian securities laws.

For more information on Nevada Hills, the Nevada Hills assets and the offering, see the company's news release dated Sept. 8, 2026, filed under its profile on SEDAR+.

About Krait Critical Minerals Corp.

Krait Critical Minerals is a Canadian mineral exploration company focused on advancing its Goldbar Spider Lake project in Ontario while evaluating additional mineral opportunities in North America. The company's strategy is to combine disciplined project evaluation, modern exploration technologies and responsible field programs to identify and advance high-quality exploration opportunities with the potential to create long-term shareholder value.

Krait's flagship asset is the Goldbar Spider Lake project in Ontario's Thunder Bay mining division, approximately 20 kilometres east of Terrace Bay and 30 kilometres west-northwest of Marathon. The 3,636-hectare (approximately 8,985-acre) property comprises 148 mining claims and 171 claim units, and Krait has an option to earn a 100-per-cent interest, subject to a 3-per-cent net smelter return (NSR) royalty. Located within the western Schreiber-Hemlo greenstone belt, the project benefits from year-round access via Highway 17, nearby rail and power infrastructure, and proximity to established mining communities and service providers.

Through its wholly owned subsidiary, Nevada Hills Antimony LLC, the company has also acquired contractual rights relating to the Bales antimony project and a portfolio of additional antimony-focused mineral claims in Okanogan county, Washington. The company is continuing its review of these assets and evaluating opportunities to advance its growing critical minerals portfolio in the United States.

We seek Safe Harbor.