Mr. Arnold Kondrat reports

KGL RESOURCES ANNOUNCES NEW CONTROLLING SHAREHOLDER AND CEO AND PROPOSED PRIVATE PLACEMENT

As disclosed by Arnold Kondrat in a press release today, Mr. Kondrat has acquired 8,857,142 common shares of KGL Resources Ltd., representing approximately 60.23 per cent of the issued and outstanding common shares of the company, in a private transaction. In conjunction with the change in control and subject to regulatory approval, Mr. Kondrat has been appointed as the president and chief executive officer of the company, replacing Donat Madilo as chief executive officer. Mr. Madilo remains as chief financial officer, secretary and a director of the company, and Nili Stolarsky and Philip Chen also remain as directors. Mr. Kondrat most recently served as executive chairman of Loncor Gold Inc., which was acquired by an affiliate of Chengtun Mining Group Co. Ltd.

The company is also announcing a proposed non-brokered private placement of up to 10 million common shares at a price of 7.5 cents per share to raise gross proceeds of up to $750,000. Proceeds from the private placement will be used to extinguish existing indebtedness, finance public company reporting and compliance expenses, finance the company's search for and investigation of prospective assets or businesses to merge with or acquire, and for working capital and general corporate purposes. Insiders of the company may subscribe for some or all of the shares offered in the private placement. The private placement is subject to all required regulatory approvals, including the NEX board of the TSX Venture Exchange. The common shares issued in the private placement will be subject to a four-month hold period and such longer hold periods as may be required under applicable securities laws.

In the event that insiders or other related parties participate in the private placement, the transaction will be considered to be to be a related party transaction pursuant to Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions and TSX Venture Exchange Policy 5.9 to the extent of such participation. As at Sept. 30, 2025 (audited), the company had cash resources of $454, current liabilities of $436,197 and a working capital deficiency of $431,294. To the extent that the private placement is a related party transaction, the company intends to rely on the financial hardship formal valuation and minority approval exemptions set out in Section 5.5(g) and Section 5.7(1)(e) of MI 61-101.

We seek Safe Harbor.