Mr. James Macintosh reports

GRAYCLIFF DRILLING AND CORPORATE UPDATE

Graycliff Exploration Ltd. has provided an operational update on its 2026 exploration drilling campaign at its 100-per-cent-owned Shakespeare gold project located near Sudbury, Ont. The company has now successfully completed an additional five core holes since the last update on Aug. 26, 2026.

"We are making good progress with our 2026 drilling campaign at Shakespeare," stated James Macintosh, chairman. "We continue to see strong alteration zones and dark sulphide-bearing fractured quartz vein material where anticipated, which leads us to believe we are continuing to hit the mineralized gold zone. Core logging is up to date, sampling has been completed and core samples are in the process of being analyzed."

Drilling highlights:

• HQ metallurgical hole D: This hole successfully intersected a visually distinct zone of black smoky quartz from 185 metres to 205 m. Assays are expected soon for this drill hole.
• Hole J-62-26 and hole J-63-26: Were drilled on the same drill section as the four metallurgical holes to provide more geological and assay data on that section. Assays are expected in the near future. Hole J-64-26, as well as holes J-65-26, J-66-26 and J-67-26 were drilled from a drill setup 12.5 metres to the east along strike of the main gold zone to evaluate the potential for high-grade mineralization east along trend of the known high-grade gold mineralization.

The drilling, utilizing one drill rig is progressing well, with the current focus being the evaluation of high-grade gold mineralization proximal to, and below the historic underground workings at the historic Shakespeare gold mine initially mined in the early 1900s.

Core from Hole D as well as J-62-26, J-63-26, J-64-26, J-65-26, J-66-26, and J-67-26 have been logged, sampled and the sampled intervals have been shipped for analysis.

The company also announces that it has granted 1.25 million stock options to certain directors, officers and consultants of the company, for the purchase of up to 1.25 million common shares in the capital of the company pursuant to the company's stock option plan. The options are exercisable for a period of five years at an exercise price of 35 cents per share and vest immediately. The options and underlying shares will be subject to a four-month hold period in accordance with the policies of the Canadian Securities Exchange.

Qualified person and QA/QC (quality assurance/quality control)

Bruce Durham, PGeo, a qualified person as defined by National Instrument 43-101 and director of Graycliff, has reviewed and approved the technical content of this release.

About Graycliff Exploration Ltd.

Graycliff Exploration is a mineral exploration company focused on its 1,366 hectares of prospective ground, located roughly 88 kilometres west of Sudbury on the prolific Canadian Shield. The company's Shakespeare project consists of one crown patented lease, two crown leases and 82 claims on a property that includes the historic Shakespeare gold mine, which operated from 1903 to 1907. Graycliff to date has drilled over 13,300 metres, with visible gold mineralization and significant gold assay intervals in numerous drill holes.

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