Mr. Warren Levy reports

INTERNATIONAL FRONTIER RESOURCES CORPORATION AND KINJAL CORPORATION ANNOUNCE EXECUTION OF BINDING CREDIT AGREEMENT PROVIDING FOR UP TO US$30 MILLION WITH SUMMIT RIDGE CAPITAL PARTNERS

Petro Frontera SAPI de C.V., an International Frontier Resources Corp. subsidiary that will become a subsidiary of Kinjal Corp. upon completion of the proposed reverse takeover of International Frontier by Kinjal (the RTO transaction), has entered into a binding credit agreement dated Sept. 25, 2026, with Summit Ridge Capital Partners, through Summit Ridge Capital Partners Fund I LP.

The credit agreement provides Petro Frontera with access to up to $30-million (U.S.), with $25-million (U.S.) immediately available upon satisfaction of the conditions precedent and provision for a further $5-million (U.S.), expected to be drawn before December, 2026, subject to mutual agreement between the parties.

The senior secured facility is intended principally to finance the acquisition of the Mision asset and the associated initial work program in the field. The facility has an initial maturity of 18 months, with no scheduled principal repayments during the first 12 months. Further, Kinjal and Summit Ridge have entered into a letter of intent which provides for the maturity of $17-million (U.S.) of the principal amount of the loan to be extended to a term of up to five years, subject to mutual consent.

In connection with the facility, and subject to TSX Venture Exchange acceptance, the resulting issuer will issue to the lenders up to 3.6 million warrants, each exercisable to acquire one common share at $1.05 per share for three years, subject to adjustment.

Together with the proceeds from the previously completed equity financing by Kinjal and International Frontier, which are currently held in escrow, the facility is expected to provide sufficient funding to complete the previously announced acquisitions and farm-in transactions involving Mision, Tecolutla/Tonalli and the CS.06 and A10.CS blocks, and to finance the initial work programs required to increase positive cash flow from those assets.

Management commentary

Warren Levy, Kinjal's chief executive officer, commented: "Summit Ridge's support is a strong endorsement of Kinjal's plan in Mexico. Together with the equity proceeds currently held in escrow, the facility will provide the capital required to complete our announced acquisitions and farm-ins and commence the initial work programs designed to unlock the real value of the portfolio. We remain focused on satisfying the remaining regulatory conditions over the coming weeks."

Christopher Park, chief executive officer of Summit Ridge Capital Partners, commented: "Summit Ridge has completed extensive technical and legal due diligence on Kinjal's Mexican assets and transaction plans. We are excited to support Kinjal's entry into Mexico's evolving onshore gas market and its work in helping to develop reliable domestic gas supply."

Conditions to initial funding

The initial $25-million (U.S.) advance remains subject to the satisfaction or waiver of the conditions precedent set out in the credit agreement. These include, but are not limited to, the shareholders of Kinjal Corp. having approved the reverse takeover transaction involving Kinjal (the RTO); all regulatory approvals required to complete the RTO having been obtained, and the TSX Venture Exchange having issued its conditional acceptance of the RTO transaction and the continued listing of the common shares of the resulting issuer; receipt of the required approvals from Petroleos Mexicanos (PEMEX) and Mexico's Secretariat of Energy (SENER); and a technical swap agreement with PEMEX.

Completion of the RTO transaction and the underlying acquisition and farm-in transactions remain subject to a number of conditions, including the exchange's acceptance, receipt of required Mexican governmental, PEMEX and third party approvals, and, if applicable, disinterested shareholder approval. Where applicable, a transaction cannot close until the required shareholder approval has been obtained. There can be no assurance that the RTO transaction, the acquisitions or farm-ins, the release of the escrowed equity proceeds, or any advance under the credit agreement will be completed or made available as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the RTO transaction, any information released or received with respect to the RTO transaction may not be accurate or complete and should not be relied upon. Trading in the securities of IFR should be considered highly speculative.

The exchange has in no way opined upon the merits of the proposed RTO transaction and has neither approved nor disapproved the contents of this news release.

About Summit Ridge Capital Partners

Summit Ridge Capital Partners is a well-recognized Latin America-focused lender.

About Kinjal Corp.

Kinjal is a private oil and gas company incorporated under the laws of Ontario and focused on Mexican upstream oil and gas opportunities. Kinjal intends to pursue the previously announced acquisitions and farm-in transactions involving Mision, Tecolutla/Tonalli and the CS.06 and A10.CS blocks.

About International Frontier Resources Corp.

International Frontier Resources is a Canadian publicly traded oil and gas company focused on the acquisition and development of energy assets. Through its Mexican subsidiary, Petro Frontera, International Frontier has been advancing petroleum and natural gas assets in Mexico.

International Frontier's shares are listed on the exchange under the symbol IFR.

We seek Safe Harbor.