Mr. Geoff Clark reports

ACCELEWARE LTD. ENTERS INTO FARM-IN AGREEMENT IN SASKATCHEWAN MANNVILLE

Acceleware Ltd. has entered into a farm-in agreement for one section of land targeting the Mannville stack in Saskatchewan to conduct a demonstration of Acceleware's RF XL 2.0 technology.

Under the agreement, Acceleware will have the opportunity to drill an RF XL 2.0 horizontal well pair in 2026 in exchange for a gross overriding royalty. Upon payout of Acceleware's invested capital, the farmor's royalty converts to a 40-per-cent working interest. The agreement also provides the potential to drill additional well pairs on the property.

"This farm-in agreement is a key step in Acceleware's strategy to accelerate RF XL 2.0 commercialization by assembling a portfolio of heavy oil production rights," said Geoff Clark, chief executive officer of Acceleware. "We are looking for heavy oil resources that cannot be economically developed any other way, so Acceleware views the Mannville Stack in Western Canada as a key target area for RF XL 2.0. This farm-in property is ideal in that respect, it has higher viscosity and, while it has significant oil in place, it is not large enough to be economically developed via thermal methods such as SAGD. With similar locations throughout Western Canada, it is an opportunity to demonstrate how RF XL 2.0 can increase production, reduce operating costs, lower energy consumption and drive favourable economics."

Deployment of RF XL 2.0 on this property is expected to enable Acceleware to utilize the conditionally approved Saskatchewan Petroleum Innovation Incentive transferrable royalty credit.

About Acceleware Ltd.

Acceleware is an advanced electromagnetic (EM) heating technology company offering proprietary radio frequency (RF) power-to-heat solutions that increase production, reduce energy consumption and lower operating costs in large-scale industrial heating.

Its core innovation, the Clean Tech Inverter (CTI), is field proven through an initial commercial-scale pilot of RF XL, Acceleware's thermal enhanced oil recovery technology designed to increase heavy oil production.

Acceleware is leveraging CTI expertise across sectors, with three mining projects under way for major operators and an amine regeneration project intended to dramatically reduce energy and costs also in progress.

Acceleware is publicly listed on the TSX Venture Exchange under the symbol AXE.

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