This press release is issued pursuant to Multilateral Instrument 62-104 - Take-Over Bids and Issuer Bids and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.

Calgary, Alberta--(Newsfile Corp. - February 25, 2026) - Mr. Ryan Kalt (the "Acquiror") reports that he has divested certain securities of Red Lake Gold Inc. (the "Issuer"), on an indirect basis, as represented by the sale of 1,926,000 common shares (the "Divested Securities"), during the inclusive period of February 24, 2026 to February 25, 2026 (the "Sale Period"). Within said Sale Period, a sub-total of 1,026,000 common shares were sold today, resulting in the herein referenced Form 62-103F1 and this related news release.

In the direct and indirect aggregate, the Acquiror now owns and controls 21,430,500 common shares of the Issuer, representing approximately 42.40% of the Issuer's issued common shares, alongside certain other convertible instruments (being common share warrants and common share stock options), all of the same being further described and hereby referenced through the Form 62-103F1 filed today (on SEDAR+) involving this disclosure.

The Divested Securities represent 3.81% of the outstanding common shares of the Issuer (based on the Issuer having 50,539,169 common shares issued as at the date hereof).

The Divested Securities were sold in the Sale Period through open-market facilities of the Canadian Securities Exchange (the "CSE"), or other broker-routed market, at an approximate average sale price of $0.02 per common share.

The Acquiror may sell securities of the Issuer either on the open market or through private dispositions in the future or may acquire securities of the Issuer either on the open market or through private acquisitions in the future depending upon market conditions, the Acquiror's investment objectives and/or other relevant factors. Other than the foregoing and/or as publicly filed, the Acquiror does not have plans or any future intentions which relate to or would result in any of the other foregoing matters.

"Ryan Kalt"

Ryan Kalt

The CSE has not reviewed, approved or disapproved the contents of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/285371