Mr. Stephen Shefsky reports

JAMES BAY RESOURCES LIMITED ANNOUNCES EXTENSION OF PRICE PROTECTION

Further to its news release dated Jan. 6, 2026, announcing the extension of price protection, James Bay Resources Ltd. has received a further extension on its price protection from the Canadian Securities Exchange for the company's private placement of up to 17.5 million common shares of the company for gross proceeds of up to $350,000, originally announced on Oct. 28, 2025, at the price of two cents per common share. To date, the company has closed on $182,500 from the issuance of 11,625,000 common shares under the offering.

All other terms and conditions of the offering remain unchanged. Completion of the offering remains subject to approval of the exchange.

The net proceeds from the offering will be used to finance working capital.

The common shares issued pursuant to the offering will be subject to a four-month-plus-one-day regulatory hold period commencing from the date of closing.

Amendment to the news releases dated Jan. 23, 2026, and Jan. 26, 2026

The company's news releases dated Jan. 23, 2026, and Jan. 26, 2026, contained an error. Each press release had inaccurately indicated that, as of the closing of the second tranche of the offering, gross proceeds of $157,000 from the issuance of 7,875,000 common shares were raised. The correct amount of gross proceeds raised from the closing of the second tranche of the offering is $107,500 from the issuance of 5,375,000 common shares.

About James Bay Resources Ltd.

James Bay is a Canadian company with 90,201,241 common shares issued and outstanding as of the date of this news release and trades on the Canadian Securities Exchange under the symbol JBR.

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