Mr. Peter Shippen reports

PARAGON ADVANCED LABS COMPLETES DEBT SETTLEMENT

Paragon Advanced Labs Inc., further to its news release dated Aug. 31, 2026, has completed a debt settlement transaction to settle indebtedness owing to consultants of the company.

Pursuant to the debt settlement, the company settled an aggregate of $794,201.40 in outstanding indebtedness through the issuance of 256,194 common shares of the company at a deemed price of $3.10 per settlement share.

Two of the creditors are considered non-arm's-length parties (as such term is defined in the policies of the TSX Venture Exchange). In connection with the debt settlement, the company issued an aggregate of 19,354 settlement shares to such non-arm's-length parties in settlement of indebtedness totalling $59,997.40.

The exchange has conditionally accepted the debt settlement. The settlement shares are subject to a statutory hold period of four months and one day from the date of issuance.

About Paragon Advanced Labs Inc.

Paragon Advanced Labs provides innovative analytical technologies to the global mining industry. By embracing new technology, the company is addressing critical capacity bottlenecks in mineral assaying through the deployment of PhotonAssay technology and complementary analytical solutions. The company delivers faster, more accurate and cost-effective mineral analysis for mining operators worldwide.

We seek Safe Harbor.