Mr. Stephen Case reports

FOX RIVER OBTAINS FINAL ORDER APPROVING PLAN OF ARRANGEMENT WITH AVENIR MINERALS LIMITED

Fox River Resources Corp. has obtained a final order of the Ontario Superior Court of Justice (Commercial List), approving the previously announced plan of arrangement, pursuant to which Avenir Minerals Ltd. will acquire all of the issued and outstanding common shares of Fox River (other than common shares held by Avenir or any of its affiliates) for cash consideration of $1.10 for each common share held.

As previously announced, the arrangement was approved by the holders of common shares and holders of options to purchase common shares at a special meeting of the securityholders held on June 23, 2026.

Completion of the arrangement remains subject to the satisfaction or waiver of certain other customary conditions to closing of the arrangement as set out in the arrangement agreement dated May 4, 2026, between Fox River and Avenir. Assuming that the conditions to closing are satisfied or waived, it is expected that the arrangement will be completed on or about July 2, 2026.

Further information regarding the arrangement is provided in Fox River's management information circular dated May 21, 2026, and the company's news releases dated June 12, 2026, June 17, 2026, and June 23, 2026, copies of which are available on SEDAR+ under Fox River's issuer profile and on Fox River's website.

About Fox River Resources Corp.

Fox River holds a 100-per-cent interest in the Martison phosphate project near Hearst, Ont. Planned as a vertically integrated operation, the project harnesses a high-grade, large-scale igneous phosphate deposit -- capable of providing secure domestic supplies of phosphate fertilizers, as well as PPA for the LFP battery industry. The project's anomaly A deposit underpins a positive preliminary economic assessment with an effective date of April 21, 2022.

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