Mr. Dustin Perry reports

KINGFISHER METALS ANNOUNCES FULLY FUNDED 2026 EXPLORATION PROGRAM

Kingfisher Metals Corp. has outlined the scope of its fully financed 2026 exploration program at the HWY 37 and Forrest Kerr projects, located in the highly prospective Golden Triangle of British Columbia.

This exploration program is designed to advance the newly discovered Hank porphyry copper-gold system while systematically expanding and derisking the company's broader regional target pipeline.

The HWY 37 and Forrest Kerr projects comprise approximately 933 square kilometres and 202 square kilometres, respectively. Field crews are expected to mobilize in late May, with field activities commencing in mid-June and continuing through the fall season.

2026 exploration program highlights

The 2026 program is structured around four exploration strategies to maximize exposure to discovery and early resource definition.

Diamond drilling -- 15,000 metres (three-pronged approach)

The 2026 drilling program will be supported by three diamond drills, targeting three spatially distinct regions at the Hank-Mary district.

Hank Porphyry copper-gold discovery -- expansion and delineation

The Hank porphyry copper-gold discovery represents a well-defined, large-scale copper-gold target supported by multiple converging lines of geological and geophysical evidence:

• Discovery hole HW-25-011: 425 metres at 0.15 per cent copper, 0.21 gram per tonne gold and 2.2 grams per tonne silver (0.40 per cent copper equivalent) is a broad and high-quality intercept affirming system scale despite intersecting flanking alteration;
• Kilometre-scale geophysical anomalies: IP (induced polarization) geophysics, magnetics and magnetotellurics (MMT) anomalies all converging on the same broad target;
• Compelling emplacement timing: porphyry mineralization at Hank, Williams and Mary (approximately 190 million to 186 million years old) overlaps in time with the nearby Mitchell deposit (approximately 196 million to 189 million years old), the largest undeveloped copper-gold deposit in Canada.

Hank gold targets -- bulk tonnage and structural high grade

Bulk-tonnage gold targets

At-surface, bulk-tonnage gold targets proximal to the Hank porphyry target offer significant opportunities for expansion with untested wide-spaced gaps (up to 500 metres) between historical drill holes despite evidence of strong gold endowment in historical drilling.

• Historical results include:
  • 55.8 m of 1.38 g/t gold (DDH84-4);
  • 42.0 m of 2.52 g/t Au (DDH85-32);
  • 63.0 m of 1.86 g/t Au (DDH85-45);
• Several historical holes terminate in mineralization, including DDH88-16 with 74 m of 0.43 g/t Au, including 0.92 g/t in the last assay.

Structural high-grade gold targets

Updated lidar, geological interpretation and 3-D modelling are being used to identify higher-grade structural gold zones. Previous workers explored with a single northwest-southeast azimuth to drill holes; this created a strong bias on ore geometry. New interpretations indicate multiple and complex structural patterns would have been poorly tested by previous holes. Revised interpretations will test projections of identified structures and ore shoot concepts as well. Historical intercepts demonstrate the high-grade and structural-hosted potential of the system:

• 0.8 m of 133.3 g/t Au and 263.0 g/t Ag (HNK-17-008);
• 24.8 m of 5.6 g/t Au and 45.9 g/t Ag (HNK-17-009);
• 20.0 m of 11.63 g/t Au and 13.8 g/t Ag (HNK-18-010).

New discovery drilling -- Turquoise, Rainbow and regional porphyry targets

Beyond the Hank porphyry target, the company will conduct first-pass discovery drilling at the Turquoise and Rainbow targets, along with additional regional prospects. This initiative is focused on identifying large-tonnage porphyry systems across the full breadth of the company's multidistrict-scale land package -- providing multiple opportunities for new discovery. The Turquoise and Rainbow target areas are both characterized by extensive cover, landslide and glacial till, respectively. These surface conditions provide large, underexplored regions unlocked by modern geophysical surveys:

• Historical intercepts from Rainbow demonstrate the high-grade potential of the system:
  • 91.4 m of 0.76 g/t Au and 1.99 g/t Ag (RN11-01) with limited follow-up;
• New geological surface mapping at Rainbow delineates an elongate porphyry-type quartz-sericite-carbonate-pyrite alteration body 3.5 kilometres long by 400 to 600 metres wide to the east of historical drilling;
• The Turquoise porphyry target is a newly identified potential system approximately 3.4 kilometres from the Hank porphyry discovery. Multiple geophysical layers point to a porphyry signature situated below a large landslide at low elevations.

Ground geophysics -- induced polarization (IP):

• Infill and expansion of IP coverage across the Hank-Mary district using distributed array and conventional pole-dipole surveys to maximize coverage;
• New geophysical surveys planned at Mess Creek (HWY 37 project) and the RDN target (Forrest Kerr project) to delineate additional drill-ready targets.

Airborne surveys:

• Magnetotelluric (MMT) and magnetic surveys over the Forrest Kerr project (approximately 1,350 line kilometres) with integrated 3-D inversion to support drill targeting;
• Lidar acquisition (approximately 550 square kilometres): expansion at HWY 37 and completion of project-wide coverage at Forrest Kerr project.

Surface and regional exploration:

• Geological mapping across HWY 37 project prospects and Forrest Kerr project;
• Soil sampling to expand geochemical coverage across the Hank-Mary district and Mess Creek area;
• Stream sediment sampling to follow up on anomalous results and complete regional coverage;
• Continuing prospecting to support target generation and refinement across both projects.

Qualified person

Technical aspects of this news release have been reviewed, verified and approved by Tyler Caswell, PGeo, vice-president, exploration, of Kingfisher, who is a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Minerals Projects.

About Kingfisher Metals Corp.

Kingfisher Metals is a Canadian-based exploration company focused on copper-gold exploration in the Golden Triangle in British Columbia. Through outright purchases and option earn-in agreements (Orogen Royalties, Golden Ridge Resources and Aben Gold), Kingfisher Metals has quickly consolidated one of the largest land positions in the Golden Triangle region with the 933-square-kilometre HWY 37 project and 202-square-kilometre Forrest Kerr project. Kingfisher also owns (100 per cent) two district-scale orogenic gold projects in British Columbia that total 641 square kilometres. The company currently has 136,928,859 shares outstanding.

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