Ms. Keturah Nathe reports

ANQUIRO VENTURES PROVIDES FURTHER UPDATE ON ITS CONCURRENT FINANCING

Anquiro Ventures Ltd. has closed its subscription receipt financing for gross proceeds of $335,000 through the issuance of 3.35 million subscription receipts.

Each subscription receipt issued by Anquiro will be converted, upon satisfaction of the escrow release conditions (as defined below), into one unit, with each Anquiro SR unit composed of one Anquiro common share and one common share purchase warrant. Each such Anquiro SR warrant will be exercisable by the holder thereof for a period of three years after the date of its issuance to acquire one Anquiro share at a price per share of 20 cents. The Anquiro SR warrants are subject to a right to accelerate the expiry time of the warrants whereby, if the closing price of the Anquiro shares exceeds 28 cents over a period of eight consecutive trading dates commencing four months from the date of the issuance of the Anquiro SR warrants, then the company may give notice in writing within 30 days of such occurrence to the holder of such Anquiro SR warrant that the Anquiro SR warrants shall expire at the accelerated expiry time, being 30 days from the date of the notice, unless previously exercised by the holder.

Collectively, Black Pine Resources Corp. and Anquiro have raised a total of $1.77-million in gross proceeds under the previously announced concurrent financing. The portion of the proceeds of the concurrent financing raised by Anquiro through the issuance of the subscription receipts, and any interest earned thereon, will be held in escrow by the subscription receipt agent. Upon the satisfaction of the escrow release conditions, including receipt of TSX Venture Exchange approval, the SR agent will release the proceeds to Anquiro. In the event the escrow release conditions are not satisfied or waived prior to Aug. 31, 2026, or such later date as may be agreed to, the subscription receipts will be cancelled, and the escrowed funds will be returned to the subscribers of the subscription receipts. Finders' fees consisting of a cash commission totalling $9,500 and 95,000 non-transferable broker warrants are payable upon satisfaction of the escrow release conditions in connection with the issuance of the subscription receipts. The broker warrants have the same terms as the Anquiro SR warrants.

All securities issued by Anquiro pursuant to the concurrent financing shall be subject to a four-month-and-a-day hold period in Canada. The net proceeds from the concurrent financing are intended to be used, upon the completion of the transaction (as defined below), for the phase 1 exploration program on the Sugarloaf property (as defined below), transaction costs, general and administrative expenses, and working capital purposes.

The completion of the concurrent financing was a condition to the closing of the company's proposed transaction with Black Pine pursuant to a merger agreement dated Jan. 31, 2026, among Anquiro, Black Pine and 1504671 B.C. Ltd. (AcquisitionCo), a wholly owned subsidiary of Anquiro, to be completed by way of a three-cornered amalgamation. It is intended that the transaction will constitute Anquiro's qualifying transaction as such term is defined in Policy 2.4 of the TSX Venture Exchange, and, upon and subject to completion of the transaction, Anquiro is expected to change its name to Black Pine Resources Corp. and trade on the TSX-V under the symbol BPR as a Tier 2 mining issuer. For further information on the transaction, please refer to the filing statement dated May 14, 2026, filed on Anquiro's SEDAR+ profile.

Black Pine

Black Pine was incorporated under the Business Corporations Act (British Columbia) on Oct. 20, 2017, under the name Digital Asset Management Corp. On Feb. 23, 2021, Black Pine changed its name to Black Pine Resources Corp. Black Pine is a mineral exploration company focused on the acquisition and exploration of mineral properties. Pursuant to an agreement dated April 12, 2022, as amended, with Great Basin Resources Inc., Black Pine is entitled to earn an undivided 100-per-cent interest in the Sugarloaf copper project subject to a 2-per-cent net smelter royalty due to GBR and certain other payments due to GBR, as provided in the property agreement.

About Anquiro Ventures Ltd.

Anquiro was incorporated under the Business Corporations Act (British Columbia) on March 1, 2012, and is a capital pool company (as such term is defined in TSX-V Policy 2.4) listed on the TSX0V. Anquiro has no commercial operations and no assets other than cash.

Trading in the common shares of Anquiro is currently suspended in accordance with the policies of the TSX-V and will remain suspended until such time as all required documentation in connection with the transaction has been filed with and accepted by the TSX-V and permission to resume trading has been obtained from the TSX-V. Completion of the transaction is subject to a number of conditions, and there can be no assurance that the transaction will be completed as proposed or at all.

We seek Safe Harbor.