Mr. Conan McIntyre reports

CHURCHILL REPORTS PROGRESS ON ANTIMONY-GOLD EVALUATION PROGRAM; TRENCHING AND DRILLING ASSAY RESULTS EXPECTED IMMINENTLY

Churchill Resources Inc. has provided an update on its continuing fall evaluation program at the Black Raven property in central Newfoundland, host to the historic Frost Cove antimony mine and Stewart gold mine. The fall program, which began mid-September, is the first comprehensive exploration for antimony, gold and silver on the property and includes approximately 5,000 metres of drilling, 2,200 soil samples and extensive trenching.

The company eagerly awaits assay results, which are pending for both drilling and channel samples. In particular, assay data for the first two batches of drill core and surface trench samples from Churchill's work along the northern 500 m of the Frost Cove trend and the channel samples from the Taylor's Room prospect are expected soon, following completion of over-detection-limit (greater than 10 per cent antimony) ore-grade assay procedures on a number of samples. In all, the company has submitted 363 core samples and 89 channel samples to SGS Lakefield to date, where many of these are being subjected to supplemental ore-grade assay procedures after initial analyses were overlimit for certain metals. In the meantime, the first batch of soil results have been received and are reported in this release.

Program update highlights:

Over all, Churchill's initial fall exploration program has gone exceedingly well with 48 short holes totalling 4,602 m completed as of the end of shifts on Nov. 24. Four prospects have been targeted with this program, namely:

• Frost Cove antimony mine prospect -- 30 boreholes totalling 2,742.5 m, 18 channel samples over 800 m strike length;
• Taylor's Room gold-silver-lead-zinc prospect -- 11 boreholes totalling 1,130.5 m, six channel samples (12th hole in progress) over 300 m strike length;
• Stewart gold mine prospect -- six boreholes totalling 585 m, two samples of in situ vein material from historical shaft over 300 m strike length;
• Pomley Cove Pond gold-silver-lead-zinc prospect -- one borehole totalling 142 m, nine channel samples of newly discovered veins (three more holes planned before break) at this prospect, previously described as the Moreton's Harbour Pond prospect.

These operations have been very successful in both finding and sampling the known historically described mineralization at the Frost Cove mine and the Taylor's Room and Stewart mine prospects, and, at Pomley Cove, the company has discovered several new polymetallic veins.

With these encouraging results, the company has decided to extend the cumulative depth of the current drilling program past 5,000 m and into December, with operations then restarting in February. This supplemental program will be completely financed with cash on hand.

Paul Sobie, president, remarked: "We're extremely pleased with the success or our first program at Black Raven, which includes our soil work and the drilling and trenching that is confirming considerable strike lengths and continuity to shallow depths for the prospects. Soil analysis is an important regional exploration tool for the property as the Beaver Brook mine antimony deposits, located 100 kilometres to the south of the Black Raven project, were discovered and outlined using this technique. Churchill is excited by some of the trends that are emerging and looks forward to seeing the results from around Frost Cove and further along strike to the south."

2025 soil sampling program

Comprehensive, 50-metre-line-spaced soil sampling covered a large portion of the entire property to identify both possible strike extensions of known prospects as well as potential new discoveries. Results reported herein are for 993 samples from the first two batches sent to Eastern Analytical in Springdale, Nfld., for assay, with approximately 1,200 samples still pending. Several areas have been prioritized for trenching and drilling programs in 2026 based on these results, including:

• Antimony assay sampling data have not yet been reported for the Frost Cove mine trend area, but a new anomaly has been discovered to the west along a known felsic dike. The 40-part-per-million anomalous threshold used for these samples is the same as that defined in soil sample surveys which led to the discovery and delineation of the mineralization at the Beaver Brook antimony mine.
• Gold results define a highly anomalous area around Pomley Cove Pond, where the company is currently drilling and trenching. A very elevated value of 922 parts per billion was detected on the western shore of the pond. Anomalous samples were also found near the Stewart gold mine.
• Silver results define two northerly trends to the north of Pomley Cove Pond.
• Copper results indicate anomalies that correlate well with the gold and silver trends around Pomley Cove Pond. A high value of 2,050 ppm (0.21 per cent) copper was defined in a sample just north of the pond.
• Zinc results contain anomalous samples in the Pomley Cove Pond vicinity with a high value of 1,953 ppm (0.20 per cent) along the same northerly dike trend that returned anomalous gold and silver values.
• Lead results indicate scattered anomalous samples in the Taylor's Room and Pomley Cove Pond areas.
• Molybdenum results define three northeasterly trends that extend from the Pomley Cove prospect to Morton's Harbour Head, which is also anomalous in gold.
• Arsenic in soils indicates widespread enrichment, in a pattern closely resembling the gold distribution, with highly anomalous areas around Pomley Cove Pond, Taylor's Room, Moreton's Harbour Head and the Stewart gold mine.

Optical-sorting studies

The company has also initiated optical-sorting studies on Frost Cove antimony mine wall rock, dike and mineralization material with the goal of producing a high-grade preconcentrate of direct shipping ore (DSO) material.

A consultant from Stark Resources Group of Hamburg, Germany, has selected representative samples of Frost Cove rocks from the adits in the north, a channel sample near the Southern shaft and from two boreholes in between for physical properties testing work. Stark will also work closely with SGS Lakefield, where metallurgical studies of composite Frost Cove antimony vein material have demonstrated excellent antimony recoveries from conventional gravity-flotation flow sheet techniques to date, with final work in progress expected to be reported upon soon.

About Churchill's fall evaluation program

Churchill's evaluation program at Frost Cove, Stewart and Taylor's Room is designed to define mineralization at depth and along strike, with surface trenches across vein structures at 50-metre intervals and drill pads every 100 metres, allowing for multiple holes at each site. The drill holes are targeted to intersect the vein structures at approximately 50 metres and 100 metres below surface. The Pomley Cove Pond drilling and trenching are designed to initially assess the area, which has seen little past exploration.

The overarching goal of Churchill's evaluation program at Frost Cove is to assess its potential as a small-footprint, high-grade underground mine, positioning it as a crucial primary supply source for North American and European markets. Currently, North America lacks sources of high-grade, primary antimony supply, making a potential domestic source at Frost Cove critically important.

Churchill's objective is to gather sufficient data for the preparation of initial resource estimates, advancing toward a National Instrument 43-101-compliant maiden resource. The past-producing Frost Cove antimony mine and the Stewart gold mine, both on Churchill's Black Raven project, operated intermittently at the turn of the last century, an era that predates the modern regulatory and capital market regimes governing economic resource definition and delineation.

Black Raven is located approximately 60 km northwest of Gander, Nfld., and approximately 100 km north of the Beaver Brook antimony mine, which is currently on care and maintenance. Black Raven hosts a high-grade polymetallic stockwork vein system, including antimony, gold, silver, lead and zinc, with multiple veins confirmed from prospecting by Churchill in 2025. The project benefits from excellent infrastructure, including roads, power, proximity to tidewater and ports, and locally integrated operational and technical teams.

The technical and scientific information in this news release has been reviewed and approved by Dr. Derek H.C. Wilton, PGeo, FGC, who is a qualified person as defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects. Dr. Wilton is an honorary research professor of economic geology at Memorial University in St. John's and is independent of the company for the purposes of NI 43-101. The soil samples were placed in labelled, sealed kraft bags and delivered to Eastern Analytical of Springdale, Nfld., an ISO/IEC 17025-certified facility. The samples were analyzed using ICP 34 (inductively coupled plasma) analytical and Au 30-gram fire assay protocols. Samples with overlimit metal contents were reassayed using Eastern's ore-grade assay (multiacid digestion) overlimit method. Quality control results, including the laboratory's control samples, were evaluated immediately.

About Churchill Resources Inc.

Churchill Resources is a Canadian exploration company focused on strategic, critical minerals in Canada, principally at its Black Raven, Taylor Brook and Florence Lake properties in Newfoundland and Labrador. The Churchill management team, board and advisers have decades of combined experience in mineral exploration and in the establishment of successful, publicly listed mining companies, both in Canada and around the world. Churchill's Newfoundland and Labrador projects have the potential to benefit from the province's large and diversified minerals industry, which includes world-class mining and processing facilities as well as a well-developed mineral exploration sector with locally based drilling and geological expertise.

We seek Safe Harbor.