Mr. Donat Madilo reports

KGL RESOURCES ANNOUNCES SHARE CONSOLIDATION

KGL Resources Ltd. has consolidated its issued and outstanding common shares on the basis of one new consolidated common share for every two existing common shares. The consolidation was approved by shareholders at the company's annual and special meeting held on May 30, 2025. The company's shares will commence trading on a consolidated basis under the new Cusip (482451200) and ISIN (CA4824512004) on the NEX board of the TSX Venture Exchange at opening of trading on Tuesday, June 17, 2025. There is no change in the company's ticker symbol for trading on the NEX board, which remains as KGL.H.

As a result of the consolidation, there are now approximately 5,849,490 common shares outstanding (subject to adjustment for fractional shares). Each shareholder's percentage ownership in the company and proportional voting power remain unchanged after the consolidation, except for minor changes and adjustments resulting from the treatment of any fractional common shares. Where the consolidation would otherwise result in a shareholder being entitled to a fractional share, the number of postconsolidated shares issued to such shareholder will be rounded down to the nearest whole number of shares.

The corporation's transfer agent, TSX Trust Company, sent a letter of transmittal with the proxy materials for the annual and special meeting to registered shareholders, which enables them to exchange their old share certificates for new share certificates or, alternatively, a direct registration system advice/statement, representing the number of new postconsolidated common shares they hold in accordance with the instructions provided in the letter of transmittal.