Mr. Chris Wensley reports

CRESTVIEW EXPLORATION ANNOUNCES RESCHEDULED EFFECTIVE DATE OF SHARE CONSOLIDATION AND CHANGE OF NAME AND SYMBOL

The effective date for commencement of trading of Crestview Exploration Inc.'s shares on the Canadian Securities Exchange on a consolidated basis of one postconsolidation share for every 10 preconsolidation shares has been rescheduled to Oct. 6, 2025, due to regulatory delays. Concurrent with the consolidation, the company is also changing its name to Gold Runner Exploration Inc. under the new trading symbol of GRUN, which will be used by the company going forward.

Prior to the consolidation, the company had 36,851,748 common shares issued and outstanding. Following the consolidation, the company will have approximately 3,685,174 common shares issued and outstanding.

No fractional common shares will be issued pursuant to the consolidation, and any fractional common shares that would otherwise be issued will be rounded to the nearest whole number and no cash consideration will be paid in respect of fractional shares. The exercise or conversion price and the number of common shares issuable under any of the company's outstanding warrants and stock options will be proportionately adjusted to reflect the consolidation in accordance with their respective terms.

A letter of transmittal will be sent to registered shareholders providing instructions to surrender the certificates evidencing their shares for replacement certificates representing the number of postconsolidation shares to which they are entitled as a result of the consolidation. Until surrendered, each certificate representing common shares prior to the consolidation will be deemed for all purposes to represent the number of common shares to which the holder is entitled as a result of the consolidation.

The board of directors believes that the consolidation and name change are necessary to better position the company for future corporate development opportunities and financing of transactions and operations. The consolidation and name change were approved by a special majority of shareholders at the company's annual general and special meeting of shareholders held on July 14, 2025.

The Canadian Securities Exchange has approved the above consolidation, name change and new trading symbol.

About Crestview Exploration Inc.

Crestview Exploration is an experienced exploration company focused on the exploration and development of its portfolio of gold and silver properties located in prolific mining districts of Nevada.

The Rock Creek gold project is Crestview's flagship asset, with 74 unpatented lode mining claims wholly owned and controlled by the company. The Rock Creek property was acquired in 2017 and the company went public in 2019. Emboldened by the results coming out of Rock Creek, Crestview strategically expanded on the land position with the acquisition of the nearby Divide mine prospect in April, 2020, and the acquisition of the Falcon silver-gold prospect in September, 2022. Between the three properties, all targeting similar mineralization and likely the same hydrothermal system, Crestview now holds 260 total claims in close proximity of one another. These three gold prospects, along with the nearby Castile prospect, are situated in a region with proven world-class gold deposits (including Midas, Jerritt Canyon, Betze-Post, Meikle and Gold Quarry), where the potential of finding large, high-grade gold-silver deposits is favourable.

The Cimarron project is located in the San Antonio Mountains of Nye county, Nevada, and comprises 31 unpatented lode mining claims, including control of six historically producing claims associated with the historic San Antonio mine. The property is located in the prolific Walker Lane trend, approximately 44 kilometres south of the world-class Round Mountain deposit.

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