File: '\\swfile\EmailIn\20260421 114059 Attachment 260421 NR PP Closing GRCM.docx'

GEOLOGICA RESOURCE CORP.

1111 -1100 Melville St.

Vancouver, British Columbia, V6E 4A6

GEOLOGICA RESOURCE CORP. ANNOUNCES CLOSING OF PROMISSORY NOTE OFFERING

April 21, 2026, Vancouver, BC - Geologica Resource Corp. (CSE:GRCM, FSE:862) (the "Company") announces that further to its press release dated March 17, 2026, it has closed its previously announced private placement debt financing (the "Financing") issuing $150,000 of on demand unsecured promissory notes accruing interest at 8.5% per annum.

The Financing was completed pursuant to a partial revocation order of the British Columbia Securities Commission dated March 26, 2026, partially revoking the failure-to-file cease trade order (FFCTO) issued against the issued against the Company on May 6, 2025.

The Company will use the proceeds of the Financing to resolve outstanding fees, prepare audited and unaudited financial statements and pay all other costs associated with applying for a full revocation of the FFCTO.

All of the corporation's common shares will remain subject to the FFCTO until such order is fully revoked. The granting of the partial revocation order does not guarantee the issuance of a full revocation order in the future. The corporation may apply for future partial revocation orders as necessary to continue operations. The corporation did not pay any finders' fees in connection with the completion of the Financing.

The Closing of the Financing is subject to the approval of the Canadian Securities Exchange.

ON BEHALF OF THE BOARD OF DIRECTORS

GEOLOGICA RESOURCE CORP.

"Doug Unwin"

Doug Unwin, President and CEO.

Forward-Looking Statements

Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law including statements relating to full revocation of the FFCTO. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE, unexpected expenditures, failure of management to manage capital and other accounting issues or administrative delays. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the business plans for the Company as described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which are available at www.sedarplus.ca.