Delta, British Columbia--(Newsfile Corp. - July 13, 2026) - Alaros Exploration Inc. (CSE: ALAR) (the "Company"), is pleased to announce it has completed its previously announced acquisition of certain exploration leases for tungsten properties located in the state of Nevada, USA (the "Transaction", and such properties, the "Properties"), by acquiring 1001528518 Ontario Inc. (the "Target") pursuant to a share exchange agreement entered into on May 20, 2026 (the "Share Exchange Agreement").

Pursuant to the Share Exchange Agreement, the Company acquired all of the issued and outstanding shares of the Target, resulting in the Target becoming a wholly owned subsidiary of the Company. As consideration for the acquisition of the Target, the Company issued an aggregate of 10.5 million common shares in the capital of the Company (the "Consideration Shares") to the shareholders of the Target at a deemed issuance price of CDN $0.05 per share, for total aggregate compensation of CDN $525,000.

The Properties comprise the Toy Property, consisting of 5 claims located in Churchill County, Nevada, and the Nightingale Property, consisting of approximately 221 acres in the Nightingale District within Pershing County, Nevada. The Nightingale district has a rich mining history dating back to the 1920s, when several small but high-grade tungsten mines operated along the approximately 7 km mineralised trend. Both properties have excellent year-round access via state and secondary roads, and close infrastructures within Churchill and Pershing Counties and the nearby (72 air km) city of Reno, Nevada.

The Target signed exploration leases (with options to purchase) with Blacklight Holdings LLC of Nevado, the owner of the Properties, in April, 2026. Pursuant to such agreements, the Target (now the Company) is required to make annual leasing payments of USD $50,000 over six years, and at any time during the term of the lease can purchase the Properties for USD $1.4 million. Blacklight Holdings LLC acquired the Properties in January 2014. To date, only limited routine exploration work has been done on the Properties.

The Company is also pleased to announce the completion and filing of a National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") compliant Technical Report (the "Report") for the Nightingale Property. The Report, titled "Technical Report Nightingale Tungsten-Silver-Copper Property, Pershing County, Nevada, USA" with an effective date of June 1, 2026, has been filed under the Company's profile on SEDAR+ (www.sedarplus.ca). The Report is authored by Greg Ferddock, Certified Professional Geologist, a "Qualified Person" (as that term is defined under NI 43-101) who is independent of the Company.

The Company intends to complete and file a Business Acquisition Report in respect of the Transaction, in compliance with National Instrument 51-102 (the "BAR"). The Consideration Shares will be issued with a hold period such that they may not be traded until the day that is the greater of (i) four months from their date of issuance, and (ii) ten trading days following the filing the BAR.

Qualified Person

Greg Ferddock, P.Geo., is a Qualified Person within the meaning of National Instrument 43-101 and has reviewed and approved the technical information contained in this news release.

The Target and the Company are arm's length to one another. Completion of the Transaction will not result in a "fundamental change" or the creation of any new "control person", as such terms are defined under the policies of the CSE. No finder's fees are payable in connection with the Transaction.

About Alaros Exploration Inc.

The Company is engaged in the business of mineral property exploration and development. The Company has the exclusive option to acquire a 100% interest, subject to a 3% net smelter returns royalty, in the Birk Creek Property, which collectively consists of 13 mineral claims covering approximately 2786 hectares located in the Kamloops Mining Division, British Columbia. Following the completion of the Transaction, the Company also holds exploration leases (with options to purchase) for its Toy and Nightingale Properties located in Nevada, USA.

The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release.

Cautionary Statement Regarding Forward-Looking Information

This news release includes certain statements that may be deemed "forward-looking statements". All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include commodity prices, mineral resources, mineral reserves, realization of mineral reserves, existence or realization of mineral resource estimates, the timing and amount of future production, the timing of construction of any proposed mine and process facilities, capital and operating expenditures, the timing of receipt of permits, rights and authorizations, and any and all other timing, development, operational, financial, economic, legal, regulatory and political factors that may influence future events or conditions, as such matters may be applicable. There can be no assurance that the Company will be able to make the required payments to Blacklight Holdings LLC in respect of the Properties, and will need additional financing in order to do so. There can be no assurances the Company will be able to complete additional financings. Readers are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

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