Mr. Patrick Cruickshank reports

THISTLE RESOURCES UNCOVERS HIGH GRADE STIBNITE IN NEW 2026 TRENCH PROGRAM AT ITS BRUNSWICK ANTIMONY PROJECT

Thistle Resources Inc. has initiated its 2026 antimony trenching program at its flagship Brunswick antimony project in the world-famous Bathurst mining camp, New Brunwick, Canada. Excavation of the trenches was conducted by Doucet Excavation, Bathurst, N.B., with its locations targeting the main mineralized zone and the sediment-granite contact that hosts the mineralization to determine the extent and characteristics of the system.

Ten samples have been collected along the edge of trench area No. 1 at approximately UTM co-ordinates 288890E/5259810N (zone 20). The samples represent various styles of antimony mineralization, including disseminations, massive blebs and quartz vein associated masses.

Prior to shipping the samples to ALS Global in Moncton for analysis, the samples were analyzed with an XRF (X-ray fluorescence) utilizing an Olympus Vanta 50 portable XRF equipped with a 50-kilovolt workstation and Reflex XRF software. The XRF process included calibrating the machine and utilizing standards in the sample stream (OREAS504b, CDN-BL-10) during analysis. Each sample consisted of one to six pieces of rock chips collected at site. As such, the samples were not homogeneous. The various pieces were analyzed in three separate locations and the results averaged by the Reflex XRF software. The results for Cu (copper), Pb (lead), Zn (zinc), As (arsenic) and Sb (antimony) are summarized below in table No. 1. The samples have been shipped to ALS Global in Moncton for preparation and certified analysis.

Gary Lohman, PGeo, vice-president of exploration and director, stated: "We are very pleased to get the project under way. This trenching program is designed to uncover the granite-sediment contact -- the boundary that hosts the antimony mineralization. Previous sampling located various styles of mineralization, mostly associated with extensive silicification and quartz veining. Once the trenches are mapped and channel sampled, the structural data will help define the azimuth, or direction, of the contact, telling us where to aim our drill holes. In mid-June, Jim Walker, PGeo, PhD, visited the site to assist in designing our program and to provide insight into the local geology, particularly the known antimony deposits of New Brunswick. While the project shares some similarities with Lake George, the Brunswick antimony project stands out due to the presence of both gold (Au) and high-grade silver (Ag) in the system, with previous certified assays returning up to 2.32 grams per tonne (g/t) Au and 1,300 g/t Ag."

Patrick J. Cruickshank, MBA, chief executive officer and director, stated: "We are thrilled to initiate this important trench program at the Brunswick antimony project. We know we have high-grade samples, and we look forward to exposing bedrock and seeing the direction of the mineralization at the contact prior to our maiden drill program. Although New Brunswick has other antimony deposits, this system is unique in that it also has high-grade silver associated with antimony in addition to gold. We would also like to congratulate the government of New Brunswick -- Deputy Premier Rene Legacy, Premier Susan Holt, Natural Resources Minister John Herron and everyone involved in the competitive process -- on advancing the reactivation of the past-producing Lake George antimony mine. The province's leadership on critical minerals creates the opportunity for New Brunswick to become a global player in this crucial space. This is good news for Thistle."

Thistle would also like to congratulate Agnico Eagle Mines Ltd. and its subsidiary, Avenir Minerals Ltd., on the government of New Brunswick's July 7, 2026, announcement that Avenir Minerals has been selected, through a competitive process, to negotiate an exclusive exploration agreement for the past-producing Lake George antimony mine*, located approximately 30 kilometres southwest of Fredericton, N.B. Lake George was once North America's largest primary antimony producer and the entry of one of the world's largest gold producers into New Brunswick's antimony space represents a significant vote of confidence in the province.

In announcing the selection, New Brunswick's Minister of Natural Resources, the Hon. John Herron, described the Lake George site as an invaluable opportunity to unlock the province's mineral potential and meet growing international demand for critical minerals (government of New Brunswick news release, July 7, 2026). The company views this development as a strong endorsement of New Brunswick as an emerging jurisdiction for antimony and critical minerals exploration and development.

Update regarding Jemini Capital engagement

The company wishes to clarify certain disclosure contained in its news release dated June 8, 2026, announcing the engagement of Jemini Finance Inc. (doing business as Jemini Capital) to provide shareholder communications, market intelligence and corporate development services pursuant to a consulting agreement dated June 3, 2026. The company confirms that Jemini Capital and the company are arm's-length parties. The company further confirms that certain principals of Jemini Capital hold common shares of the company. Such holdings were acquired independently of the consulting engagement, and neither Jemini Capital nor its principals have any right or obligation to acquire additional securities of the company pursuant to the consulting agreement.

Analysis and QA/QC (quality assurance/quality control)

All samples were submitted to ALS Global in Moncton, an independent commercial laboratory for both the sample preparation and assaying. Samples submitted through ALS are run through standard preparation methods and analyzed using code ME-ICP61A, which is a four-acid digestion followed by ICP-AES (inductively coupled plasma atomic emission spectrometry) analysis. Gold analysis is done by standard fire assay (GRA22) using a 50-gram sample. Overlimit assays are done by gravimetric analysis. ALS undertakes their own QA/QC protocols, including coarse and pulp duplicate analysis, to ensure proper sample preparation and equipment calibration.

Thistle's QA/QC program includes regular insertion of CRM (certified reference material) standards, duplicates and blanks into the sample stream with a stringent review of all results. QA/QC and data validation were performed, and no material errors were observed.

Qualified person

The technical and scientific information in this news release has been reviewed and approved by Gary Lohman, PGeo, chief operating officer and vice-president of exploration of Thistle Resources, and a qualified person as defined by National Instrument 43-101. Mr. Lohman is not independent of the company.

About Thistle Resources Inc.

Thistle Resources is a Canadian precious metals and critical minerals exploration company operating in the world-famous Bathurst mining camp of New Brunswick, one of Canada's most prolific mining districts. The never-drilled Brunswick antimony project offers blue-sky potential -- a high-grade antimony-silver-gold discovery less than 1,000 metres from the past-producing Brunswick No. 12 mine. At the flagship Middle River gold project, phase 1 and 2 drilling has confirmed gold mineralization from surface to 130 metres along a seven-kilometre trend of mineralized folds, with an untested deeper zone from 400 metres and phase 3 ahead. The portfolio also includes the Middle River VMS (volcanogenic massive sulphide), Alba Forks gold and Celtic Highland gold projects. With exploration planned across both flagships in 2026, Thistle is advancing two discovery stories in a single district.

* Mineralization occurring at the Lake George antimony mine is not necessarily indicative of mineralization on the company's Brunswick antimony project.

Thistle Resources has no affiliation with Avenir Minerals, Agnico Eagle Mines or the Lake George antimony mine, and holds no interest in that project.

We seek Safe Harbor.