MATACHEWAN ANNOUNCES SETTLEMENT OF SHARE LENDING AGREEMENT

TORONTO, May 13, 2026 /CNW/ - Matachewan Consolidated Mines, Limited ("Matachewan" or the "Company") (TSXV: MCM.A-X) today announced that it has fully repaid and terminated its previously announced share loan and pledge agreement dated January 7, 2026 (the "Share Lending Agreement") with an arm's-length lender.

Pursuant to the Share Lending Agreement, the Company borrowed 1,488,996 common shares of Taranis Resources Inc. (the "Borrowed Shares") in order to facilitate a distribution of Taranis common shares to the Company's shareholders. The Company has returned the Borrowed Shares to the lender, thereby fully satisfying its obligations under the Share Lending Agreement.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Certain statements in this news release constitute "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information contained in forward-looking statements can be identified by the use of words such as "are expected", "is forecast", "is targeted", "approximately", "plans", "anticipates", "projects", "continue", "estimate", "believe" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information involves a number of known and unknown risks and uncertainties, which, if incorrect, may cause actual results to differ materially from those anticipated by the Company. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, the Company can give no assurance that those expectations will prove to have been correct. Accordingly, readers should not place undue reliance on forward-looking information.

For additional information with respect to these and other factors and assumptions underlying the forward-looking information made in this news release, see the Company's most recent management's discussion and analysis, as well as other public disclosure documents that can be accessed under the issuer profile of "Matachewan Consolidated Mines, Limited" on SEDAR+ at www.sedarplus.com. The forward-looking information set forth herein reflects the Company's reasonable expectations as at the date of this news release and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. The forward-looking information contained in this news release is expressly qualified by this cautionary statement.

SOURCE Matachewan Consolidated Mines, Limited

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