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TUPPER JONSSON & YEADON

BARRISTERS & SOLICITORS

AN ASSOCIATION OF LAWYERS AND LAW CORPORATIONS

CARL R. JONSSON*

GLENN R. YEADON*

LEE S. TUPPER*

JEFFREY T.K. FRASER*

1710 - 1177 WEST HASTINGS STREET

VANCOUVER, B.C., CANADA

V6E 2L3

*denotes a Personal Law Corporation

REPLY ATTENTION OF : LEE S. TUPPER

TEL: (604) 640-6358

FAX: (604) 681-0139

Email: tupper@securitieslaw.bc.ca

OUR FILE: 10078

August 20, 2025

BY EMAIL

Canada Stockwatch

Vancouver, B.C.

By Email: news@stockwatch.com

Market News Publishing Inc.

Vancouver, B.C.

By Email: news@baystreet.com

Dear Sirs:

Re: COMET INDUSTRIES LTD.

We are the solicitors for the above-mentioned company, and are enclosing a copy of its News Release of even date, which we would ask that you disseminate following the close of market on August 20, 2025 pursuant to the TSX Venture Exchange's requirements, as well as for distribution in the normal fashion. (Please note that we will be handling the SEDAR filing of this News Release.)

Yours truly,

TUPPER JONSSON & YEADON

"Lee S. Tupper"

LEE S. TUPPER

LST:wb

Enc.

C: Comet Industries Ltd. - via email

Attention: Mike O'Reilly, CEO

TSX Venture Exchange - via SEDAR

British Columbia Securities Commission - via SEDAR

Alberta Securities Commission - via SEDAR

File: Attachment newsrelease aug20 iron masks.pdf

August 20, 2025

Iron Mask Industrial Park Achieves Next Key Milestone

TSX-V Trading Symbol: CMU

PRESS RELEASE- August 20, 2025

Iron Mask Industrial Park Achieves Next Key Milestone

Kamloops, B.C.: Comet Industries is pleased to announce it has secured its preliminary layout approval - the conditional approval for a proposed subdivision plan - for the Iron Mask Industrial Park. This important milestone marks the next step of an exciting new chapter for the light industry industrial park, which is designed to create opportunities for business growth, attract investment to the city of Kamloops, and deliver long-term economic benefits for the region.

Mike O'Reilly, President of Comet Industries, shared: "Securing this preliminary layout approval is another positive step forward, not just for Comet Industries but for our community. We believe that Iron Mask Industrial Park will bring more jobs to Kamloops, attract new businesses, allow other businesses to expand and grow, all strengthening our local economy. Our team is committed to working closely with our partners, neighbours, and those who will call Iron Mask Industrial Park home for their business to ensure this project creates lasting value for years to come."

Comet Industries looks forward to advancing to the next stages of the Iron Mask Industrial Park and invites those interested in learning more to visit www.ironmaskindustrialpark.ca and register to receive updates on the project.

About Comet Industries Ltd. Comet Industries Ltd. was established in 1972, incorporated in the Province of British Columbia, and is listed on the TSX Venture Exchange. The Company is in the business of holding and developing real estate properties, all in British Columbia ("BC"). The Company owns unimproved land in Kamloops and Nelson Island on a freehold basis. A major initiative by the company is the Iron Mask Industrial Park project. Visit: www.cometindustries.ca

Follow Comet Industries: LinkedIn Comet Industries | YouTube Comet Industries Follow Iron Mask Industrial Park: LinkedIn Iron Mask Industrial Park

"Michael O'Reilly"

COMET INDUSTRIES LTD. Michael O'Reilly President and CEO NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE

This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward- looking statements. Although management believes the expectations expressed in such forward- looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forwardlooking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, regulatory approvals, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.