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. - May 25, 2026) - Mr. Ryan Kalt (the "Acquiror") reports common share divestment in Red Lake Gold Inc. (the "Issuer") through public market sales today (May 25, 2026), sold on a direct basis, in the total of 4,266,500 common shares (the "Divested Securities").

The Divested Securities trigger an Early Warning Report (Form 62-103F1) posted to SEDAR+ (referenced hereby) and this press release.

Before selling the Divested Securities, the Acquiror held 12,036,000 common shares, on a direct basis, representing approximately 23.82% of the Issuer (alongside 14,200,000 share warrants, held directly and indirectly, and 700,000 stock options, held directly, then being a 41.16% diluted holding, if altogether exercised).

After selling the Divested Securities, the Acquiror now holds 7,769,500 common shares, on a direct basis, representing approximately 15.37% of the Issuer (alongside 14,200,000 share warrants, held directly and indirectly, and 700,000 stock options, held directly, then being a 34.64% diluted holding, if altogether exercised).

The Divested Securities (representing approximately 8.44% of the Issuer's common shares based on the Issuer reporting 50,539,169 shares outstanding) were sold for an average price of $0.01 per share (aggregate gross proceeds of approximately $42,665).

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 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 Canadian Securities Exchange (CSE) has not reviewed, approved or disapproved of the contents of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/298823