Mr. Pierre Gauthier reports

AUXICO ANNOUNCES PARTIAL REVOCATION ORDER AND CONVERTIBLE DEBENTURE FINANCING

A partial revocation order was granted by the Autorite des marches financiers on Nov. 14, 2025, regarding the failure-to-file cease trade (CTO) order issued against Auxico Resources Canada Inc. on Dec. 14, 2023.

In connection with the partial revocation, Auxico intends to raise an aggregate principal amount of $990,000 via a non-brokered private placement of convertible debentures. The principal amount of each debenture will be automatically converted into units of the company on the maturity date at a price of 10 cents per unit. Each unit will consist of one common share of the company and one warrant entitling the holder to purchase one common share at an exercise price of 10 cents for a period of three years from the closing date.

The purpose of the private placement is to raise sufficient capital to prepare and file all outstanding continuous disclosure documents, and subsequently apply for and obtain a full revocation order. The proceeds of the private placement will namely be applied toward the following: (i) accounting, audit and legal fees associated with the preparation and filing of the relevant continuous disclosure documents; (ii) filing fees associated with obtaining the partial revocation and the full revocation order; (iii) key employee salaries; and (iv) operational fees for the Mynastic property in Colombia.

Closing of the private placement will be subject to acceptance by the Canadian Securities Exchange and other customary closing conditions. In addition to the CTO and applicable resale restrictions under Canadian securities laws, the securities issued pursuant to the private placement will be subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable securities legislation.

The participation of certain directors or officers in the private placement would constitute a related party transaction as defined under Regulation 61-101 respecting Protection of Minority Security Holders in Special Transactions. The company intends to rely on the exemption from the formal valuation requirement provided under Section 5.5(a) of Regulation 61-101 and the exemption from the minority shareholder approval requirement provided under Section 5.7(1)(a) of Regulation 61-101.

Prior to the closing of the private placement, the company will provide written notice to each subscriber that the common shares of the company will remain subject to the CTO until such time as a full revocation is granted and that the granting of the partial revocation does not guarantee the issuance of a full revocation order in the future.

About Auxico Resources Canada Inc.

Auxico is a Canadian company that was founded in 2014 and is based in Montreal, trading on the Canadian Securities Exchange under symbol AUAG. Auxico is engaged in the acquisition, exploration and development of mineral properties in Colombia and Bolivia.

We seek Safe Harbor.