Mr. Jon Ward reports

CORCEL EXPLORATION ANNOUNCES GRANT OF PERMIT AND COMMENCEMENT OF IP SURVEY AT YUMA KING PROJECT

Corcel Exploration Inc. has successfully posted and received official acceptance of the required reclamation bond from the United States Bureau of Land Management (BLM) for its Yuma King project in Arizona.

With the bond now formally approved and selected the company is now authorized to begin site preparations and drilling at the project. Corcel is planning to drill approximately 1,500 metres of diamond core across six to eight drill sites, targeting copper and gold skarn and porphyry-style mineralization. The program will focus on targets in and around the Yuma King mine identified through recent drone magnetic geophysical surveys and geochemical sampling. Highlights from the historical drilling at the Yuma King mine include intersections of 0.78 per cent Cu (copper), 0.53 g/t (gram per tonne) Au (gold) and 6.3 g/t Ag (silver) over 45.4 m in Cu-Au skarn.

The objectives of the 2026 drill program are to:

• Confirm historical drill results;
• Expand Cu-Au mineralization along strike and down dip at the Yuma King mine;
• Identify new zones of high-grade Cu-Au mineralization.

Initial drilling at the Yuma King mine zone is designed to test both skarn/replacement and porphyry mineralization styles, as the system remains open in multiple directions and at depth.

Corcel has also commenced a ground induced polarization (IP) geophysical survey at the project. The 10-line-kilometre 2-D pole-dipole IP geophysical survey that will cover the Yuma King West and Yuma King mine priority exploration targets.

The IP survey is designed to transect target areas where alteration and mineralization are exposed through windows in thin structural cover. The high-resolution survey will help in defining the geological and structural framework as well as detecting sulphide mineralization. The IP survey will be combined with the preciously conducted drone magnetics and surface geochemistry data to enhance the geological model and to fine-tune drill targets for a follow-up drill program.

"Receiving official acceptance of our reclamation bond from the U.S. Bureau of Land Management is an important milestone for Corcel, as it allows us to move forward with site preparation and drilling at Yuma King," commented chief executive officer Jon Ward. "With permits now in place, we are preparing to begin our 1,500-metre drill program across multiple priority targets at the project. At the same time, we have commenced an induced polarization survey to help us better understand the potential scale and strength of mineralization across the property. Combined with our existing exploration data, this work will guide our drilling and position us to efficiently advance the Yuma King project."

Qualified person as defined under National Instrument 43-101

Roy Greig, PhD, PGeo, a qualified person (QP) as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, and adviser to Corcel Exploration has reviewed and approved the technical content in this news release. The QP has not been able to verify the historical exploration data disclosed herein since the original materials and documentation are presently inaccessible. Nonetheless, these data are believed to be accurate and sufficient for purposes of guiding future exploration on the Yuma King project.

About Corcel Exploration Inc.

Corcel Exploration is a mineral resource company engaged in the acquisition and exploration of precious and base metals properties throughout North America. The company has entered a long-term lease agreement to acquire the Yuma King Cu-Au project in Arizona, which spans a district-scale land position of 3,200 hectares comprising 515 unpatented federal mining claims in the Ellsworth mining district, including the past-producing Yuma King mine which saw underground production of copper, lead, gold and silver between 1940 and 1963. The company also holds a 100-per-cent interest in the Willow copper project.

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