Mr. Jon Ward reports

CORCEL EXPLORATION CLOSES NON-BROKERED PRIVATE PLACEMENT

Corcel Exploration Inc. has closed its previously announced non-brokered private placement issuing 26,765,000 units at a price of 10 cents per unit for gross proceeds of $2,676,500.

Each unit will consist of one common share of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder thereof to acquire one additional share at a price of 20 cents per warrant share until the date which is 24 months following the closing date, or Oct. 8, 2028.

The company intends to use the net proceeds of the offering for exploration at its Yuma King project in Arizona and for working capital purposes.

In connection with the offering, the company paid finders' fees of $126,990 cash and issued 1,269,900 finders' warrants of the company to eligible finders. Each finder's warrant entitles the holder thereof to purchase one share at a price of 20 cents per share until Oct. 8, 2028.

All securities issued in connection with the offering will be subject to a statutory hold period expiring Feb. 9, 2027.

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 (copper-gold) 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.

We seek Safe Harbor.