Mr. Burns Tennent-Bhohi reports

PENBAR ANNOUNCES NAME CHANGE TO EASTPORT CRITICAL METALS CORP.

Further to the press release of Nov. 18, 2025, Penbar Capital Ltd. will complete a corporate name change to Eastport Critical Metals Corp. and will begin trading under its new name at the start of trading on or about Monday, Dec. 15, 2025, on the TSX Venture Exchange. The company's ISIN and Cusip will change to CA27778Y1088 and 27778Y108, respectively.

The name change is being effected in connection with the previously completed qualifying transaction as defined under TSX Venture Exchange Policy 2.4 (Capital Pool Companies) with Eastport Ventures Inc. and 1001160772 Ontario Ltd., a wholly owned subsidiary of the company, closed on Nov. 10, 2025. The name change was delayed due to strike action by the B.C. General Employees' Union, which delayed processing at the B.C. corporate registry.

There is no change to the company's ticker symbol, and no action is required to be taken by shareholders with respect to the name change. Outstanding share and warrant certificates are not affected by the name change and do not need to be exchanged.

About Eastport Critical Metals Corp.

Eastport is a critical mineral development company advancing five projects in Botswana, with cumulative historical and current expenditures approaching $20-million. The company's most advanced asset is the Matsitama copper project, which hosts multiple sizable targets across the Matsitama copper district.

The company's additional projects include Selebi East, a nickel-copper-cobalt project located seven kilometres east of the historic Selebi Mines; the Semarule rare earth element project, positioned within the Gaborone-Molepolole corridor; the Foley uranium project, adjoining the Letlhakane uranium deposit; and the Keng project, which targets nickel, copper and platinum group elements on the northern margin of the Molopo Farms complex.

Botswana is widely regarded as one of Africa's strongest mining jurisdictions, combining the continent's highest GDP per capita with a 50-year record of large-scale mineral development since the Orapa diamond discovery in 1967. The country ranks among the top performers globally on the Fraser Institute's Investment Attractiveness Index and is the highest-rated jurisdiction in Africa on the Policy Perception Index. These rankings reflect Botswana's stable regulatory environment, consistent rule of law and long-standing support for responsible mineral development -- factors that have underpinned significant investment and major merger-and-acquisition activity in the natural resource sector in recent years.

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