Mr. Brad Rourke reports

SCOTTIE RESOURCES ANNOUNCES CLOSING OF BROKERED PRIVATE PLACEMENT AND INITIAL TRANCHE OF NON-BROKERED PRIVATE PLACEMENT

Pursuant to an agency agreement among Scottie Resources Corp., Velocity Capital Partners, as sole bookrunner, and Agentis Capital Markets (AFN LP), as co-lead agent, together with Beacon Securities Ltd., dated Oct. 9, 2026, Scottie Resources has closed its previously announced brokered private placement of common shares of the company at a price of $2.90 per brokered share. In addition, the company has closed an initial tranche of its previously announced non-brokered private placement, consisting of common shares of the company at the offering price and flow-through common shares of the company at a price of $3.10 per flow-through share. Together, 7,359,870 offered shares (including 194,212 flow-through shares) were issued pursuant to the brokered offering and the initial tranche of the non-brokered offering, which raised aggregate gross proceeds to the company of $21,382,465.40.

Pursuant to the agency agreement, the company: (i) paid a cash fee of $442,457.99 to the agents; and (ii) issued 152,572 compensation warrants to the agents. Each compensation warrant is exercisable to acquire one common share of the company at the offering price for a period of 24 months expiring on Oct. 9, 2028.

In connection with the initial tranche of the non-brokered offering, the company paid cash finders' fees of $330,306.64 and issued 113,899 finders' warrants. Each finder's warrant entitles the holder thereof to purchase one common share of the company at the offering price for a period of 24 months expiring on Oct. 9, 2028.

The company has issued an aggregate of 1,379,310 non-brokered shares and 24,565 flow-through shares pursuant to the non-brokered offering to certain related parties of the company, in each case constituting, to that extent, a related party transaction as defined under Multilateral Instrument 61-101, Protection of Minority Securityholders in Special Transactions. The company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the participation of the interested parties in the non-brokered offering in reliance on sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the non-brokered offering nor the securities issued in connection therewith, insofar as the non-brokered offering involves the interested parties, exceeds 25 per cent of the company's market capitalization. The company did not file a material change report more than 21 days before the expected closing of the non-brokered offering as the details of the non-brokered offering and the participation by the interested parties therein were not settled until recently and the company wishes to close on an expedited basis for sound business reasons.

The offered shares were offered on a private placement basis pursuant to exemptions from prospectus requirements under applicable securities laws and are subject to a statutory hold period expiring Feb. 10, 2027.

The net proceeds from the issue and sale of the brokered shares and non-brokered shares will be used for working capital and general corporate purposes, including work related to the technical studies and permitting currently under way at the Scottie gold mine project.

The gross proceeds from the issue and sale of the flow-through shares will be used by the company to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures as such terms are defined in the Income Tax Act (Canada) related to the Scottie gold mine project in British Columbia. Qualifying expenditures with respect to the flow-through shares will also qualify as B.C. flow-through mining expenditures as such term is defined in the Income Tax Act (British Columbia). All qualifying expenditures will be renounced in favour of the subscribers for the flow-through shares effective on or before Dec. 31, 2026.

The company expects to complete a second and final tranche of the non-brokered offering for aggregate gross proceeds of approximately $2.6-million, on or about Oct. 14, 2026, subject to receipt of required regulatory approvals, including the approval of the TSX Venture Exchange. The brokered offering and non-brokered offering remain subject to final acceptance from the TSX Venture Exchange.

About Scottie Resources Corp.

Scottie Resources holds a 100-per-cent interest in the Scottie gold mine property, which includes the high-grade, past-producing Scottie gold mine and the adjacent Blueberry contact zone. The company also owns a 100-per-cent interest in the Georgia project, host to the past-producing Georgia River mine, as well as the Cambria, Sulu and Tide North properties. In total, Scottie controls approximately 58,500 hectares of highly prospective mineral claims within the Stewart mining camp in British Columbia's Golden Triangle -- one of the world's most prolific mineralized districts.

Scottie's current resource estimate on the Scottie gold mine project includes a total of 703,000 gold ounces at an average grade of 6.1 grams per tonne (g/t) (inferred category) in 3.6 million tonnes, highlighting the development potential for a significant near-surface, high-grade deposit. The company's strategy is to continue expanding this resource and to define additional mineralization around past-producing mines through systematic drilling and surface exploration.

The company has recently completed a PEA (preliminary economic assessment) for the Scottie gold mine (Bird et al., Oct. 28, 2025, Scottie gold mine project, SEDAR+). The PEA outlines a robust ore sorting and direct-ship ore (DSO) development scenario with strong economics and significant upside through a potential toll-milling option utilizing excess capacity at the nearby Premier mill. The base case DSO project delivers an after-tax NPV (net present value) (5 per cent) of $215.8-million to $668.3-million at gold prices of $2,600 (U.S.) to $4,200 (U.S.) per ounce (oz), respectively. Under the toll-milling scenario, project economics improve substantially, with an after-tax NPV (5 per cent) of $380-million to $832-million (no agreement currently in place). The PEA estimates initial capital costs of $129-million, average annual production of approximately 65,400 oz gold over seven years and a payback period of 1.7 years for the after-tax DSO case-reduced to just 0.9 year under the toll-milling opportunity at $2,600 (U.S.) per oz.

We seek Safe Harbor.