Mr. Jonathan Goodman reports

DUNDEE CORPORATION ANNOUNCES RESULTS OF INFILL DRILLING AT WESTHAVEN'S SHOVELNOSE GOLD AND SILVER PROJECT, SOUTHERN BRITISH COLUMBIA

Dundee Corp. has provided an update on continued progress on Westhaven Gold Corp.'s 2026 exploration program at the Shovelnose gold and silver project in Southern British Columbia, including results from an additional 10 drill holes from continuing mineral resource infill drilling at the South zone deposit.

On Feb. 23, 2026, the corporation completed a strategic earn-in agreement with Westhaven, whereby Dundee may earn up to a 60-per-cent interest in Westhaven's four Spences Bridge gold belt properties through up to $85-million in staged project expenditures. Under the first phase, Dundee has committed a minimum of $30-million, inclusive of a fully financed 50,000-metre drill program at Shovelnose, which is financing the activities outlined in this news release and is expected to continue through the remainder of 2026.

Jonathan Goodman, president and chief executive officer of Dundee, commented: "We are pleased with the early progress of the South zone mineral resource infill drilling program, which is progressing as planned and reinforces our confidence in the continuity and quality of the deposit. The initial work is enabling us to better define the margins of the mineralized system and provides an important foundation for the next stages of technical work as we advance the project through the joint venture. We look forward to continuing this disciplined, data-driven approach with our partner as we work to unlock the long-term value of the assets."

Key highlights:

• A total of 11,514 metres of drilling (40 drill holes) have been completed within the South zone deposit, representing approximately 33 per cent of the planned mineral resource drilling program. Initial drilling is focused on completing approximately 35,000 metres of mineral resource infill drilling at the South zone deposit, targeting inclusion in an updated mineral resource estimate (MRE) to support a preliminary feasibility study, with anticipated completion in the second half of 2027.
• Assay results from 10 drill holes are reported in this news release, bringing the total reported results to 24 holes (6,102 metres; approximately 17 per cent of planned infill drilling).
• Notable new results include 33.0 m grading 14.0 grams per tonne Au and 78 grams per tonne Ag, including 8.12 m grading 47.56 g/t Au and 229 g/t Ag (SNR26-73) and 24.63 m grading 9.51 g/t Au and 44 g/t Ag (SNR26-74). See table below for full results.
• Three drills are presently conducting mineral resource infill drilling of the South zone deposit, with the fourth drill approximately one-third of the way through a first-phase 1,200-metre hydrogeological drilling program in support of continuing prefeasibility studies.
• Airborne geophysical surveys of the Shovelnose property are now complete, with final data processing and reporting to follow by midsummer, in time to help guide exploration drilling later this year.

South zone mineral resource infill drilling

The 35,000-metre South zone mineral resource drilling program has been designed to infill the deposit at nominal 25-metre centres. To date, 40 drill holes (11,514 metres) have been completed, representing approximately 33 per cent of the planned program metreage. Results from 10 holes are reported in this news release.

Selected assay highlights include:

• SNR26-73: 33.0 m grading 14.0 g/t Au and 78 g/t Ag from 163.0 m downhole, including:
  • 8.12 m grading 47.56 g/t Au and 229 g/t Ag from 179.48 m downhole;
• SNR26-74: 24.63 m grading 9.51 g/t Au and 44 g/t Ag from 158.52 m downhole; including:
  • 4.01 m grading 36.05 g/t and 123 g/t Ag from 170.57 m;
• SNR26-75: 17.13 m grading 10.08 g/t Au and 82 g/t Ag from 141.00 m downhole;
• SNR26-76: 11.77 m grading 15.63 g/t Au and 104 g/t Ag from 140.78 m downhole, including:
  • 4.22 m grading 30.56 g/t Au and 234 g/t Ag from 140.78 m downhole;
• SNR26-78: 9.62 m grading 5.18 g/t Au and 24 g/t Ag from 71.88 m downhole.

Assay intervals noted above represent downhole intersections, not true widths. True widths can be estimated at approximately 70 to 80 per cent of the reported intervals. All assay results related to the 10 holes are presented in Table 1, including drill hole locations and orientations, located at the end of this release. For previously reported assay results from the South zone mineral resource drilling program, please refer to the corporation's press release dated May 7, 2026.

Sampling, laboratory analyses and quality assurance/quality control (QA/QC)

Most core samples consist of halved drill core cut by manual sawing using industry-standard core saws. In rare cases and where required by physical core conditions, manual splitting may be used. Half of the core is retained in the original core box for reference samples and any required future work, including QA/QC. Core samples, controlled by a unique bar-coded reference number, are delivered to ALS's Kamloops facility and prepared using the PREP-31 package. Each core sample is crushed to better than 70 per cent passing a two-millimetre (Tyler 9 mesh, U.S. Std. No. 10) screen. A split of 250 grams is taken and pulverized to better than 85 per cent passing a 75-micron (Tyler 200 mesh, U.S. Std. No. 200) screen.

Further analytical and assay procedures are conducted in ALS's North Vancouver facility. A 0.75-gram subsample of the pulverized split is subjected to four-acid digestion and analyzed by ICP-MS (method code ME-MS61m (plus Hg)), which reports a suite of 49 elements.

All samples are also analyzed for gold by fire assay with an AES finish, method code Au-ICP21 (30-gram sample size). Samples returning gold values over 10 parts per million are subjected to overlimit check assays using fire assay and a gravimetric finish (method code Au-GRA21 and a 30-gram sample size). Other overlimit elements may also be subjected to ore-grade analyses, which vary depending on the element of interest. ALS's facilities are independent of the company and Westhaven and are accredited to the ISO/IEC 17025 standard for gold assays, and all analytical methods include quality control materials at set frequencies with established data acceptance criteria. QA/QC incorporates the laboratory's internal quality assurance controls as well as Westhaven's field controls, including the insertion of quarter-core duplicates, certified reference materials and blanks, each at a rate of roughly one per 20 to 25 core samples. Additional blanks are inserted following samples with visible gold or significant concentrations of ginguro (fine-grained bands of dark gray to black sulphides).

QA/QC data are evaluated on receipt for failures, and appropriate action is taken if results for duplicates, standards and blanks fall outside allowed tolerances. Dundee understands that Westhaven's continuing QA/QC programs are consistent with industry best practices and include auditing of all exploration data. Any significant changes will be reported when available.

About Dundee Corp.

Dundee is a public Canadian independent mining-focused holding company, listed on the Toronto Stock Exchange under the symbol DC.A. The corporation is primarily engaged in acquiring mineral resource assets. The corporation operates with the objective of unlocking value through strategic investments in mining projects globally. The company's team conducts due diligence in order to assess the geological, technical, environmental and financial merits and risks of each project and looks to deploy capital where it can either seek to generate investment returns or where the corporation can collaborate with operating partners and take strategic partnerships through direct interests in mining operations.

Qualified person

The scientific and technical information in this news release has been reviewed and approved by Robin Hopkins, PGeo (Northwest Territories/Nunavut), vice-president, exploration, for Westhaven and a qualified person for the company under the definitions established by National Instrument 43-101, Standards of Disclosure for Mineral Projects. Mr. Hopkins is independent of Dundee.

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