Mr. Nader Vatanchi reports

KEON CAPITAL INC. EXECUTES OPTION AGREEMENT FOR CRUSADER PROPERTY IN SASKATCHEWAN

Keon Capital Inc. has entered into an option agreement dated as of June 5, 2026, with AJMining Ventures Ltd., pursuant to which Keon has the option to earn a 100-per-cent interest in and to five mineral licences prospective for uranium in Northern Saskatchewan, Canada, covering approximately 2,771 hectares (the Crusader property).

Under the option agreement, Keon has the option to earn a 100-per-cent interest in the property by completing the following option earn-in obligations within 10 business days of the TSX Venture Exchange approving the option agreement: (1) paying $12,500 to the optionor; and (2) issuing an aggregate of seven million Keon common shares to or as directed by the optionor. Any shares issued under the option agreement will be subject to: hold periods and/or escrow provisions imposed by applicable securities laws and the policies of the exchange; and a contractual six-month hold period that will run concurrently with any hold period or escrow provision imposed by securities laws or the policies of the exchange. The company will not pay any finders' fees in connection with the transaction represented by the option agreement.

The optionor, its principals and its shareholders are arm's length to the company. Therefore, the transaction will not constitute a transaction with any non-arm's-length party of Keon (as such term is defined by the exchange). The transaction is not a related party transaction as such term is defined by Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, and is not subject to Policy 5.9 of the exchange.

The transaction is intended to permit the company to graduate from the NEX to Tier 2 of the exchange. Trading of the common shares of Keon will remain halted in connection with the dissemination of this news release and will recommence at such time as the exchange may determine, having regard to the completion of certain requirements pursuant to exchange Policy 2.6. The exchange has advised that it will be a condition for final exchange acceptance of the transaction that the company hold an annual general meeting (AGM) of shareholders of the company and accordingly the company intends to hold an AGM by no later than Sept. 15, 2026. On receipt of exchange acceptance of the transaction, the company will be a Tier 2 mining issuer on the exchange.

In connection with the option agreement, Keon intends to conduct a non-brokered private placement for gross proceeds of up to $500,000 through the issuance of up to 6,666,667 units at a price of 7.5 cents per unit. Each unit will comprise one share and one share purchase warrant, exercisable for one share at an exercise price of 10 cents for two years from the date of issuance.

The company may pay finders' fees in connection with the financing. Securities issued under the financing will be subject to a four-month hold period in accordance with applicable Canadian securities laws. The company intends to use the proceeds of the financing to conduct exploration on the Crusader property and for general working capital.

Further details respecting the transaction and the financing will follow in future news releases.

We seek Safe Harbor.