Mr. Brenan Isabelle reports

REEXPLORATION ANNOUNCES FIVE-FOR-ONE SHARE CONSOLIDATION

Reexploration Inc.'s board of directors has approved the consolidation of the company's issued and outstanding common shares on the basis of one postconsolidation common share for every five preconsolidation common shares. The consolidation was approved by the company's shareholders at its annual and special meeting held on Sept. 28, 2026, and remains subject to the acceptance of the TSX Venture Exchange.

Reason for the consolidation

The board considers the consolidation necessary to attract new investment. It is expected to enhance the marketability of the company's common shares, appeal to a broader range of investors and better position the company to raise capital.

Details of the consolidation

• The company currently has 135,229,107 common shares issued and outstanding. Following the consolidation, the company will have approximately 27,045,821 common shares issued and outstanding, subject to adjustment for rounding.
• No fractional common shares will be issued. Any fractional common share resulting from the consolidation will be rounded up to the nearest whole common share, and no cash will be paid in lieu of fractional shares.
• The company's name and trading symbol (TSX-V: REE) will not change. The postconsolidation common shares will trade under a new Cusip No. 75865L208 and ISIN CA75865L2084.
• The exercise price and number of common shares issuable on the exercise or settlement of the company's outstanding stock options and warrants will be adjusted proportionately in accordance with their terms.
• The consolidation will not affect any shareholder's percentage ownership interest in the company, except for minor changes resulting from the rounding of fractional shares.

The company will announce the effective date of the Consolidation, and the date on which the common shares will begin trading on a postconsolidation basis, by further news release once the TSX-V has accepted the Consolidation.

Registered and beneficial shareholders

All registered shareholders of the company hold their common shares in Direct Registration System (DRS) form. Accordingly, no letter of transmittal will be required or mailed to registered shareholders in connection with the consolidation. Following completion of the consolidation, registered shareholders will automatically receive their postconsolidation common shares and the company's transfer agent, Computershare Investor Services Inc., will send each registered shareholder a DRS advice reflecting the number of postconsolidation common shares held. Shareholders who hold their common shares through a broker, investment dealer, bank or other intermediary are not required to take any action; their accounts will be updated in accordance with the intermediary's usual procedures, and any questions should be directed to their intermediary.

About Reexploration Inc.

Reexploration is a Canadian exploration company advancing the Eureka project in central Namibia. Eureka combines rare-earth exploration, supported by the production of a clean monazite concentrate, with uranium exploration in an established uranium region. The company is evaluating both opportunities through geological work and targeted exploration.

We seek Safe Harbor.