Ms. Joanna Longo reports

GEODRILL ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID

The Toronto Stock Exchange (TSX) has accepted Geodrill Ltd.'s notice of intention to renew its normal course issuer bid to purchase outstanding ordinary shares of the company on the open market in accordance with the rules of the TSX.

Management and the board of directors of Geodrill believes that the underlying value of the company may not be reflected in the market price of the ordinary shares from time to time and that, accordingly, the purchase of ordinary shares will increase the proportionate interest in the company of, and be advantageous to, all remaining shareholders of the company.

Any such purchases will occur from time to time and in aggregate will be up to 2,375,656 ordinary shares (being approximately 5 per cent of the issued and outstanding ordinary shares of the company) over a 12-month period commencing on June 7, 2026, and terminating on June 6, 2027. The new NCIB program was approved by the shareholders of the company on May 11, 2026. As of June 4, 2026, under the previous notice of intention to conduct a normal course issuer bid, pursuant to which company sought and received approval from the TSX to purchase up to 2,358,158 ordinary shares for the period of June 7, 2025, to June 6, 2026, the company repurchased 154,900 ordinary shares on the open market. As of May 29, 2026, Geodrill had 47,513,120 ordinary shares issued and outstanding and 18,851,754 ordinary shares in the public float.

Any repurchases under the new NCIB program will be made in Canada through the facilities of the TSX or alternative Canadian trading systems. Geodrill will pay the prevailing market price at the time of purchase (with a maximum purchase price of not more than 105 per cent above the five-day VWAP (volume-weighted average price)) or such other price as may be permitted by the TSX. The actual number of ordinary shares repurchased under the new NCIB program and the timing of such repurchases will be at Geodrill's discretion and shall be subject to the limitations set out in the TSX Company Manual. Daily purchases on the TSX will be limited to 7,542 ordinary shares, representing 25 per cent of 30,168 (the average daily trading volume on the TSX for the prior six months ending May 31, 2026), other than block purchase exceptions. The ordinary shares repurchased by Geodrill will be cancelled.

About Geodrill Ltd.

Geodrill has been successful in establishing a leading market position in Ghana and Ivory Coast. The company also operates in other African jurisdictions including Egypt and Senegal, and is focusing its South America operations on Chile. With the large fleet of multipurpose rigs, Geodrill provides a broad selection of diverse drilling services, including exploration, delineation, underground and grade control drilling, to meet the specific needs of its clients. The company's client mix is made up of senior mining, intermediate and junior exploration companies.

We seek Safe Harbor.