Mr. Glenn Mullan reports

CLEGHORN SIGNS EXPLORATION AGREEMENT WITH THE MATACHEWAN FIRST NATION AND MATTAGAMI FIRST NATION (WABUN TRIBAL COUNCIL)

Cleghorn Minerals Ltd. has signed a milestone exploration agreement dated Oct. 15, 2025, with the Matachewan First Nation (Matachewan FN) and Mattagami First Nation (Mattagami FN), members within the Wabun Tribal Council (WTC). The exploration agreement was signed by the three companies within the Zed Zed Group: Cleghorn Minerals Ltd., International Prospect Ventures Ltd. and Val-D'Or Mining Corp. The exploration agreement covers the company's operational areas of interest within the first nations' traditional lands, located in Northeastern Ontario's Abitibi greenstone belt.

The exploration agreement outlines the terms on how consultation and impact mitigation on exploration activities will be conducted. It also delivers financial benefits, including contracts, jobs and training opportunities during the exploration phase, for both current and future work programs across the property portfolio covered by the exploration agreement. Further, the exploration agreement provides that the company will, subject to the approval of the TSX Venture Exchange, issue to each of Matachewan FN and Mattagami FN 50,000 common shares of the company, and will also grant to each of Matachewan FN and Mattagami FN incentive stock options to acquire 50,000 shares of the company at a per share price of six cents for a period of five years from issuance, in accordance with its incentive stock option plan and a consulting agreement among the parties. The exploration agreement will remain in effect until such time that an impact benefit agreement (IBA) has been concluded.

Glenn J. Mullan, chief executive officer of Cleghorn Minerals, commented: "We would like to extend our sincere gratitude to Chief Batisse of the Matachewan First Nation and Chief Constant of the Mattagami First Nation, along with their respective councils, the negotiating committee led by their Mineral Development Advisors, the Wabun Tribal Council and the local community members. This milestone represents the culmination of more than five years of relationship building and dialogue between the company and the Matachewan and Mattagami First Nations, and the Wabun Tribal Council, and establishes a strong foundation for ongoing co-operation among all parties."

Cleghorn remains committed to responsible exploration and to delivering shared economic opportunities to the local communities. An official signing ceremony will be held at the Wabun Tribal Council offices in Timmins, Ont. Details will be announced once confirmed.

About Cleghorn Minerals Ltd.

Cleghorn is a junior mineral exploration company with a 100-per-cent interest in the Meech Lake -- Matachewan -- Prospect, a property located in Northeastern Ontario.

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