Mr. Nick DeMare reports

AUSCAN RESOURCES AMENDS FINANCING TERMS

Auscan Resources Inc.'s private placement financing, announced July 28, 2025, has been amended.

The amendment was made to be in compliance with Toronto Stock Exchange policies regarding the maximum participation by insiders in a private placement when a price reservation is utilized to reserve the price. The financing will now comprise 1.04 million units at 15 cents per unit, with each unit comprising a share and a one-half warrant, exercisable at 20 cents, and 460,000 units at 18 cents per unit, with each unit comprising a share and a one-half warrant, exercisable at 24 cents.

The company also wishes to clarify that all warrants issued as part of this placement have a term of one year. The above financing remains subject to TSX Venture Exchange approval.