Mr. Karim Rayani reports

SKULL RIDGE GOLD COMMENCES TRADING ON THE CSE UNDER SYMBOL "SKUL" AND ADVANCES FLAGSHIP SKULL ISLAND PROJECT

Effective April 8, 2026, Skull Ridge Gold Corp., formerly Carmanah Minerals Corp., has commenced trading on the Canadian Securities Exchange under the symbol SKUL.

The company's rebranding to Skull Ridge Gold reflects its renewed strategic focus on advancing its exploration portfolio and building a district-scale gold exploration platform in Canada.

There is no consolidation or change to the company's share capital in connection with the name and symbol change. Shareholders are not required to take any action.

Flagship asset -- Skull Island project

The company is focused on advancing its flagship Skull Island project, located on the Burin peninsula of Newfoundland, a region interpreted as one of Atlantic Canada's most prospective epithermal and hydrothermal belts.

The Burin peninsula hosts a highly fertile geological environment that has seen limited modern exploration relative to its potential, presenting a compelling opportunity for the identification of new mineralized systems through systematic exploration techniques.

Infrastructure advantage

The Skull Island project benefits from a strong logistical foundation, including access to regional infrastructure such as road networks, power, established access routes and nearby communities, providing a meaningful advantage for efficient exploration and future drill mobilization.

Jurisdictional context

Newfoundland continues to establish itself as one of Canada's premier mining jurisdictions, with a strong record of gold discoveries and production. Prominent companies such as New Found Gold Corp., along with the recent consolidation involving Equinox Gold Corp. and Calibre Mining Corp., which include the development of the Valentine gold mine into one of Canada's significant emerging gold operations, underscore the region's robust geological potential and growing investment interest.

These developments highlight the strong and evolving mining ecosystem in which Skull Ridge is advancing its flagship Skull Island project, further reinforcing the attractiveness of the Burin peninsula as an underexplored but highly prospective gold belt.

Next steps

The company is actively advancing preparations for a coming drill program at the Skull Island project. Management is currently finalizing drill contractor selection and crew availability.

Further updates will be provided in the coming weeks as exploration planning progresses, including details on program design and timing.

Management commentary

Karim Rayani, chairman and chief executive officer, commented: "The commencement of trading under Skull Ridge Gold Corp. and ticker SKUL on the CSE marks an important milestone for the company. The Skull Island project sits within a highly prospective and underexplored geological belt, and we believe it represents a compelling opportunity for new discovery through modern exploration methods."

About Skull Ridge Gold Corp.

Skull Ridge Resources is advancing its district-scale Heritage gold-silver project on the Burin peninsula in Newfoundland, encompassing approximately 145 square kilometres of contiguous mineral claims. The project lies within one of Atlantic Canada's most prospective and underexplored epithermal belts. Heritage is hosted along the Point May epithermal zone, a multikilometre mineralized system with 21 high-priority drill targets and known occurrences of high-grade silver, gold and base metals. The property offers significant multicommodity upside across a largely underexplored land package. The company's next phase of exploration will focus on expanding drilling along the Eagle zone and advancing toward an updated resource estimate.

We seek Safe Harbor.