Mr. Bruce Counts reports

STORM CLOSES OVERSUBSCRIBED $3.2M PRIVATE PLACEMENT

Storm Exploration Inc. has closed its previously announced non-brokered private placement. Storm issued eight million units at a price of 40 cents per unit, for total gross proceeds of $3.2-million.

Each unit consisted of one common share of the company and one-half of a common share purchase warrant. Each warrant entitles the holder to acquire one additional common share at a price of 55 cents for a period of two years from the closing of the offering.

In connection with the sale of these units, Storm paid a total of $24,000 in cash and issued 135,000 finders' warrants to eligible finders for certain of the units sold. Each finder's warrant is subject to the same terms and conditions as the warrants issued pursuant to the offering.

The net proceeds from the offering are intended to finance the exploration drilling programs at its Gold Standard project and for general corporate and working capital purposes. All securities issued are subject to a hold period until Jan. 15, 2027.

Eric Sprott, through 2176423 Ontario Ltd., a corporation beneficially owned by him, subscribed for five million units in the offering for an aggregate purchase price of $2-million. Prior to the offering, Mr. Sprott beneficially owned or controlled 763,000 shares, representing approximately 2.7 per cent of the outstanding shares on a non-diluted basis.

As a result of the offering, Mr. Sprott now beneficially owns 5,763,000 shares and 2.5 million warrants, representing approximately 15.8 per cent of the outstanding shares on a non-diluted basis and 19.99 per cent of the outstanding shares on a partially diluted basis assuming exercise of such warrants (which contain a control person blocker). If the blocker is removed, Mr. Sprott will beneficially own and control 21.2 per cent of the outstanding shares on a partially diluted basis.

The securities are held for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

A copy of the early warning report with respect to the foregoing will appear on Storm Exploration's profile on SEDAR+ and may also be obtained by calling Mr. Sprott's office at 416-945-3294 (2176423 Ontario Ltd., 7 King St. East, Suite 1106, Toronto, Ont., M5C 3C5).

The insider participation constitutes a related-party transaction within the meaning of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). Storm will rely on the exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101, on the basis that neither the fair market value of the units issued to Mr. Sprott nor the fair market value of the consideration paid by Mr. Sprott exceeds 25 per cent of Storm's market capitalization.

For additional information with respect to this offering, please refer to Storm's news releases dated Aug. 26, 2026, Sept. 2, 2026, and Sept. 4, 2026, available for viewing on Storm's SEDAR+ profile.

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