The TSX Venture Exchange has accepted for filing documentation relating to a share exchange agreement dated March 18, 2026, as amended by way of an amending agreement dated April 15, 2026, among Applied Graphite Technologies Corp., Bullfrog Gold Corp. and the registered holders of Bullfrog, who are non-arm's-length vendors. Pursuant to the terms of the agreements, the company will acquire all of the issued and outstanding common shares of Bullfrog. Bullfrog is a private Canadian company that, through its wholly owned subsidiary, holds a 100-per-cent interest in Zacapa Gold Corp., which in turn owns a 100-per-cent interest in the South Bullfrog epithermal gold project consisting of 488 BLM (Bureau of Land Management) claims over 10,050 acres in Beatty, Nev.

In consideration for the acquisition of the property, the company will satisfy the purchase price by way of a share exchange with the vendors, with the company issuing 1.5 common shares for every one common share of Bullfrog, totalling 33 million common shares of the company. Upon completion of the transaction, Bullfrog will become a wholly owned subsidiary of the company. The transaction is non-arm's length but does not constitute a related-party transaction. No finders' fees are payable.

For further information, refer to the company's news releases dated March 18, 2026, April 15, 2026, and May 22, 2026, which are available under the company's profile on SEDAR+.