Mr. Eric Boehnke, a shareholder, reports

ERIC BOEHNKE FILES EARLY WARNING REPORT

Effective Jan. 12, 2026, Eric Boehnke has acquired ownership of 500,000 units of Critical Elements Exploration Corp., directly, at a price of two cents per unit in settlement of outstanding debt in the amount of $10,000. Each unit consists of one common share and one share purchase warrant. Each warrant is exercisable into one additional share at an exercise price of two cents per warrant share for a period of two years from the date of issuance of the units.

Prior to the transaction, the acquiror directly and indirectly owned and controlled an aggregate of:

• 1.75 million shares held indirectly through Big Sky;
• 1.75 million shares issuable on exercise of the warrants held indirectly through Big Sky.

These securities represent 5.95 per cent of the 29,419,751 issued and outstanding shares as of Jan. 11, 2026, the date prior to the issuance of the units, on a non-diluted basis. If the acquiror were to exercise the warrants, the acquiror will directly and indirectly own and control 3.5 million shares, or 11.23 per cent of the issued and outstanding shares, based on 31,169,751 shares on Jan. 11, 2026, which consists of 29,419,751 shares issued and outstanding and 1.75 million warrant shares that may be acquired on exercise of the warrants, on a partially diluted basis.

Following the transaction, the acquiror directly and indirectly owns and controls an aggregate of:

• 500,000 shares held directly;
• 1.75 million shares held indirectly through Big Sky;
• 500,000 shares issuable on exercise of the warrants held directly;
• 1.75 million shares issuable on exercise of the warrants held indirectly through Big Sky.

These securities represent 7.52 per cent of the 29,919,751 issued and outstanding shares as of Jan. 12, 2026, the date of the issuance of the units, on a non-diluted basis. If the acquiror were to exercise the warrants, the acquiror will directly and indirectly own and control 4.5 million shares, or 13.99 per cent of the issued and outstanding shares, based on 32,169,751 shares on Jan. 12, 2026, which consists of 29,919,751 shares issued and outstanding and 2.25 million warrant shares that may be acquired on exercise of the warrants, on a partially diluted basis.

The acquiror has filed an early warning report pursuant to National Instrument 62-103F1, The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, describing the above transaction with the applicable securities regulatory authorities. A copy of the early warning report is available on SEDAR+ under the profile of the company.