Mr. Jason Riley reports

EXGEN ANNOUNCES TSXV APPROVAL OF EXTENSION AND UPSIZE OF PRIVATE PLACEMENT AND PROVIDES CORPORATE UPDATE

Further to its news releases dated June 9, 2026, and June 25, 2026, the TSX Venture Exchange has approved an extension and upsize for ExGen Resources Inc. to complete its private placement of up to 10,081,000 units at a price per unit of 10 cents for gross proceeds of $1,081,000. ExGen intends on completing the second tranche of the upsized offering on or around Aug. 21, 2026. For further details regarding the terms of the upsized offering, please see the company's news releases dated June 9, 2026, and June 25, 2026.

Further to its news release dated July 29, 2025, ExGen is also pleased to announce that it has amended and exercised the option to earn a 100-per-cent interest in the MacRex property, a mineral property located in British Columbia, Canada. The option was amended such that, to exercise the option, ExGen paid $200,000 to the optionor on Aug. 14, 2026, which satisfied all remaining cash obligations and exploration expenditures under the original option agreement, as described in the July 29, 2025, news release.

The MacRex property is located in the Alberni mining district of British Columbia approximately 20 kilometres from the city of Port Alberni. The claims are accessible through a series of logging roads reaching a significant portion of the property, resulting in easy access for exploration and potential future development. The MacRex property was subject to considerable exploration going back to the 1980s and a number of copper, gold and silver showings are recorded throughout the property. The property surrounds the Mactush property, which was optioned in 2024 for approximately $625,000. The company has reviewed reports and assessment filings on mineral titles and has determined this property will complement its property portfolio.

Jason Riley, chief executive officer of ExGen, commented: "With this last round of the financing, we now have the treasury flexibility to strategically unlock the value of our properties. We are further pleased to have negotiated this amended exercise for MacRex. This amendment saves ExGen $350,000 in cash payments and the entire $1.5-million in expenditures that were previously required over the life of the option."

Qualified person

Andrew Wilkins, PGeo, is the responsible officer for Lithos Geological Inc. and is the independent qualified person as defined by National Instrument 43-101 responsible for the accuracy and verification of and has approved the technical information contained in this news release. Lithos Geological has a permit to practise (No. 1004267) with Engineers and Geoscientists of British Columbia (EGBC).

About ExGen Resources Inc.

ExGen is a project accelerator that seeks to finance exploration and development of its projects through joint ventures and partnership agreements. This approach significantly reduces the technical and financial risks for ExGen, while maintaining the upside exposure to new discoveries and potential cash flow. ExGen intends to build a diverse portfolio of projects across exploration stages and various commodity groups. ExGen currently has eight exploration projects in Canada and the United States and four NSR (net smelter return) royalties on projects in the Golden Triangle, British Columbia, Canada. ExGen also holds a silver stream on the past-producing Andacollo gold mine in Chile, which is slated for a near-term production restart.

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