Mr. Richard Masson reports

BOREAL GOLD INC. GRANTS INCENTIVE STOCK OPTIONS

Boreal Gold Inc. has granted an aggregate of 1.3 million stock options to its directors, officers and consultants for the purchase of up to 1.3 million common shares of the company pursuant to its stock option plan approved by the company's shareholders at the annual general meeting held on Feb. 6, 2026. Each option is exercisable for a period of five years from the date of grant at a price of 23 cents per common share. The options vest immediately, and are subject to a statutory hold period of four months and one day.

About Boreal Gold Inc.

Boreal Gold is a Canadian junior mineral exploration company with a specific focus on mineral properties in northwestern Manitoba and northeastern Saskatchewan, Canada. All of the issuer's properties are currently at the exploration stage. The issuer has assembled a portfolio of base metal and precious metal prospects in strategic locations in the provinces of Manitoba and Saskatchewan.

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