Mr. Nicholas Holthouse reports

MONT ROYAL RESOURCES PROVIDES UPDATE ON ASX AND TSXV LISTING

Further to the news release dated Oct. 21, 2025, announcing the successful completion of the merger transaction between Mont Royal Resources Ltd. and Commerce Resources Corp. pursuant to the definitive arrangement agreement dated April 8, 2025, as amended on July 29, 2025, the reinstatement of ordinary shares of Mont Royal on the Australian Securities Exchange, the listing of the Mont Royal shares on the TSX Venture Exchange and the delisting of the common shares of Commerce from the TSX-V are expected to occur in early November, 2025. The Mont Royal shares are expected to be reinstated for trading on the ASX under the symbol MRZ and listed on the TSX-V under the trading symbol MRZL. It is anticipated that the Commerce shares will be subsequently delisted from the OTC and Frankfurt Stock Exchange.

Issued capital

Pursuant to the completion of the transaction, there are 189,964,587 Mont Royal shares issued and outstanding, which include 1,220,256 Mont Royal shares issued to settle $430,000 of accrued interest related to the convertible notes of Commerce issued on May 12, 2025.

About Mont Royal Resources Ltd.

Mont Royal Resources is an Australian company focused on the development of the Ashram rare earth and fluorspar deposit located within its Eldor property in Northern Quebec, Canada. The Ashram deposit is characterized by simple rare earth (monazite, bastnaesite and xenotime) and gangue (carbonates) mineralogy, a large-tonnage resource at favourable grade, and has demonstrated the production of high-grade (more than 30 to 45 per cent total rare earth oxides) mineral concentrates at high recovery (more than 60 to 75 per cent) in line with active global producers. Mont Royal also owns 75 per cent of the Northern Lights Minerals tenement package located in the Upper Eastmain greenstone belt. The projects are located in the emerging James Bay area, a Tier 1 mining jurisdiction of Quebec, Canada, and are prospective for lithium, precious (gold and silver) and base metal mineralization (copper and nickel).

We seek Safe Harbor.