Mr. John Byrne of Lions Bay Capital reports

LIONS BAY INC. ISSUES EARLY WARNING REPORT

On Nov. 19, 2025, Lions Bay Capital Inc. (the acquiror) acquired ownership of an additional 3,361,344 common shares of Fidelity Minerals Corp. (the issuer) at a price of 13 cents per share as part of a debt settlement to settle $436,975 in outstanding loans.

Prior to the acquisition, the acquiror owned an aggregate of 13,540,162 common shares of the issuer, representing approximately 38.43 per cent of the issued and outstanding common shares of the issuer on an undiluted basis. As a result of the acquisition, the acquiror owns a total of 16,901,506 common shares of the issuer, representing approximately 43.80 per cent of the issued and outstanding common shares of the issuer on an undiluted basis. The acquiror also owns warrants exercisable to acquire up to 1,662,500 common shares of the issuer. If the acquiror were to exercise all of its warrants, it would then own 18,564,006 common shares of the issuer, representing approximately 46.12 per cent of the issued and outstanding shares of the issuer on a partially diluted basis, assuming that no further common shares of the issuer have been issued.

"We are very excited by the potential of the Las Huaquillas property held by Fidelity, which we consider a Tier 1 epithermal gold and porphyry target," stated John Byrne, the executive chairman of Lions Bay.

The securities acquired by the acquiror will be held for investment purposes. The acquiror may, depending on market and other conditions, increase or decrease its beneficial ownership of the issuer's securities, whether in the open market, by privately negotiated agreements or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities.

This press release is being issued pursuant to National Instrument 62-103, The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which requires a report to be filed containing additional information with respect to the foregoing matters. A copy of the acquiror's early warning report will be available on the issuer's profile on SEDAR+.

The issuer's head office is located at Suite 1201, 1166 Alberni St., Vancouver, B.C., V6E 3Z3.