Mr. Kirby Renton reports

ARCTIC FOX CLOSES PRIVATE PLACEMENT AND ANNOUNCES MANAGEMENT CHANGES

Arctic Fox Lithium Corp. has closed the second tranche of its non-brokered private placement of 3.2 million units at a price of 10 cents per unit for gross proceeds of $320,000. Each unit consisted of one common share and one share purchase warrant. Each warrant entitles the holder to acquire one additional share at a price of 12 cents for a period of 24 months from the date of issuance.

The gross proceeds of $500,000 from both tranches of the private placement will be used for general working capital purposes. All securities issued under the private placement are subject to a hold period of four months plus one day in accordance with applicable securities laws. No finders' fees were paid in connection with the private placement.

Management changes

The company further announces the appointment of Kirby Renton as its new director, president and chief executive officer, effective immediately.

Mr. Renton is the current chief operating officer and director of UraniumX Development Corp., with over 20 years of experience in business development, acquisitions, land services and operational leadership. His career spans the energy, mid-stream and technology sectors, where he has held senior executive and director roles at Novacor Exploration, Foundation Auto Group, Border Surplus Management, Renton Land Services and Predator Midstream. Mr. Renton brings a proven record of driving growth, executing complex transactions, building high performing teams, and delivering value across public and private organizations.

Mr. Renton succeeds Eddy Siu, who resigned as a director of the company on Jan. 13, 2026, and Harry Chew, who resigned as the president and CEO of the company. Mr. Chew will continue to serve on the company's board of directors.

The company thanks Mr. Siu for all his contributions to the company and wishes him the best in his future endeavours.

About Arctic Fox Lithium Corp.

Arctic Fox is a junior mineral exploration company focused on the acquisition and development of mineral properties containing battery, base and precious metals. The company's 2,756-hectare Pontax North lithium project is located 12 kilometres south of Allkem Ltd.'s James Bay lithium project and 12 km north of Stria Lithium Inc.'s Pontax lithium project, located in Northern Quebec, approximately 130 km east of the Eastmain Cree Nation's community. The company is currently planning a second-phase exploration program at Pontax North and continues to evaluate accretive opportunities across the rare earth element and broader critical mineral sectors to complement and expand its project portfolio.

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