Vancouver, British Columbia--(Newsfile Corp. - October 16, 2026) - Allegiance Resources Corp. (CSE: ALLG) (FSE: BG5) (the "Company" or "Allegiance") is pleased to announce that Rocca, LLC, a Reno-based geological consulting firm, is on site and has commenced the Company's initial field program at its 100%-owned Golden Scheelite Tungsten Project in Humboldt County, Nevada.

The three-day program is focused on geological mapping, grab sampling, UV-lamp prospecting for scheelite and systematic reconnaissance across all 17 claims covering approximately 347 acres (140 hectares). The objective is to evaluate the extent of tungsten-bearing skarn beyond the historical workings and generate targets for follow-up exploration.

Scheelite fluorescing under ultraviolet light in a selected rock sample from Golden Scheelite.

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Golden Scheelite has already produced tungsten. Historical government records report that the project shipped 6 tons grading 0.71% WO₃ in 1953 and 20 tons grading 0.59% WO₃ in 1954 to the Getchell mill. A separate historical sample from the bottom of the shaft returned 3.59% WO₃. The recorded historical workings were limited to an open cut approximately 50 feet long, 15 feet wide and 15 feet deep, two trenches approximately 60 feet and 20 feet long, and a shallow 7-foot shaft. The broader property has not been systematically explored using modern methods.

Field Program

• Mapping and sampling. Mapping the historic workings and tungsten-bearing skarn along the intrusive contact, with grab sampling of exposed mineralization and newly identified skarn.
• Night-time UV prospecting. Using ultraviolet light to identify scheelite wherever prospective skarn is exposed. Historical descriptions record scheelite at Golden Scheelite fluorescing canary yellow under UV light, consistent with the documented tungsten-molybdenum association.
• Claim-wide reconnaissance. Prospecting across all 17 claims for tungsten showings away from the known workings.
• Modern field dataset. Recording GPS locations, photographs and structural observations to build the project's first modern geological dataset and support target generation.

Historical descriptions place scheelite-bearing tactite (skarn) along contacts between schist and quartz monzonite. The U.S. Geological Survey notes that "scheelite appears to be present throughout the tactite." The historic miners worked only a small part of that contact. The current program is intended to test those observations on the ground and establish where the prospective contact and tungsten-bearing skarn can be traced across the property.

Next Steps

Following completion of the field program, Allegiance intends to submit collected grab samples to an independent laboratory for tungsten analysis using fusion methods appropriate for tungsten. The Company will integrate the assay results with geological mapping, structural observations and GPS data collected across the property.

Subject to the results, the next phase is expected to focus on refining the extent and orientation of the tungsten-bearing skarn, following up newly identified areas of interest and prioritizing targets for additional surface work and potential drilling. The Company will also compare the new mapping, sampling and assay data against the historical geological and production records to determine whether aspects of the historical record can be independently corroborated, and will evaluate whether geophysical surveying or additional systematic sampling could help define targets beneath areas of limited exposure. Results from the current program will be reported once assays have been received and reviewed.

"Golden Scheelite saw limited historical production from a very small footprint, while the broader 347-acre property has never been systematically explored with modern methods," said Kelly Abbott, Chief Executive Officer of Allegiance. "This program is about establishing the geology, testing the historical record and determining where the tungsten-bearing skarn extends beyond the old workings. Once the assays and field data are in, we can determine where additional work is warranted and begin building a systematic path toward drill-ready targets."

About Golden Scheelite

Golden Scheelite consists of 17 unpatented lode claims covering approximately 347 acres (140 hectares) in Humboldt County, Nevada. Allegiance holds a 100% interest through its wholly owned subsidiary, Wolfram Critical Minerals Inc., with no underlying royalty. Historical records describe scheelite and powellite mineralization in skarn and report limited tungsten production in 1953 and 1954. The United States has had no commercial tungsten mine production since 2015, and U.S. defence procurement restrictions on certain tungsten sourced from China take effect January 1, 2027.

Debt Settlement

The Company also announces that it intends to settle $24,000 of indebtedness owed to 1594807 B.C. Ltd. for exploration consulting services provided under a consulting agreement dated July 1, 2026 through the issuance of 145,454 common shares at a deemed price of $0.165 per share. 1594807 B.C. Ltd. deals at arm's length with the Company, is not a Related Person and will not become a Control Person as a result of the settlement. No finder's fees are payable.

The shares will be subject to a hold period of four months and one day from the date of issuance under applicable securities laws and CSE policies. The settlement will close no earlier than five business days after the date of this news release and remains subject to compliance with CSE policies.

About Allegiance Resources Corp.

Allegiance Resources Corp. is a Canadian mineral exploration company focused on the acquisition and advancement of tungsten and other critical-metal projects in established mining jurisdictions. Through its wholly owned U.S. subsidiary, Wolfram Critical Minerals Inc., the Company holds a 100% interest in the Golden Scheelite Tungsten Project in Humboldt County, Nevada, where it is advancing systematic modern exploration of a historically documented tungsten occurrence.

Qualified Person

The scientific and technical information in this news release has been reviewed and approved by Ryan Versloot, P.Geo., a qualified person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, who is independent of the Company. Mr. Versloot has reviewed the historical production figures, sample results and geological descriptions against the U.S. Geological Survey and Nevada Bureau of Mines and Geology sources from which they are taken. The current field program includes field examination and resampling; however, new assay results are not yet available and the historical results remain unverified.

Historical Information

Historical production figures, sample results and descriptions in this news release are derived principally from U.S. Geological Survey Mineral Resources Data System record 10047493 and Nevada Bureau of Mines and Geology Bulletin 59. The Company has not independently verified the historical information, including sampling procedures, analytical methods, quality assurance and quality control procedures or production records. The 3.59% WO₃ result previously reported for Golden Scheelite is a single historical sample and may not be representative of mineralization across the property. There are no current mineral resources or mineral reserves at Golden Scheelite, and historical production is not necessarily indicative of future results. The photograph in this news release shows a selected sample and is not necessarily representative of mineralization on the property.

Forward-Looking Information

This news release contains forward-looking information, including statements regarding completion of the field program, submission and assaying of samples, interpretation of mapping and sampling data, identification and prioritization of exploration targets, additional surface work, geophysical surveying, systematic sampling, development of drill-ready targets, potential future drilling, and completion of the debt settlement. Forward-looking information is based on management's current expectations and assumptions and is subject to risks including exploration results, laboratory turnaround times, weather and access, permitting, financing, commodity prices and regulatory approvals. There can be no assurance that future work will verify historical results, identify drill targets or result in economically viable mineralization. The Company undertakes no obligation to update forward-looking information except as required by law.

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

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