Mr. Simon Studer reports

KINGMAN MINERALS LTD. CLOSES UPSIZED $1.5 MILLION NON-BROKERED FINANCING, ANNOUNCES AGM RESULTS AND CORPORATE UPDATE

Further to the news release dated Oct. 1, 2025, Kingman Minerals Ltd. has closed its upsized non-brokered private placement.

Financing

The company has raised gross proceeds of $1.5-million through the issuance of 21,428,500 units at a price of seven cents per unit. Each unit consists of one common share of the company and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at a price of nine cents for a period of 24 months from the date of issuance.

The company will pay finders' fees totalling $82,558.20 and issue 470,910 non-transferable finders' warrants in connection with certain subscriptions under the offering.

No insiders participated in the offering.

The net proceeds of the offering will be used to finance continued exploration and development activities at the company's Mohave project, including diamond drilling, geophysics, geochemical sampling and permitting, as well as for general working capital. The Mohave project includes the historic high-grade Rosebud mine in Mohave county, Arizona, where bonanza-grade underground sampling of up to 688 grams per tonne gold and 468 g/t silver has been previously reported.

All securities issued pursuant to the offering will be subject to a statutory four-month hold period. The offering, including finders' fees and warrants, is subject to final approval by the TSX Venture Exchange.

"We've been overwhelmed by the support shown for this financing," stated Simon David Studer, chief executive officer. "Demand exceeded our expectations, and we had to make some difficult cuts to stay within the approved amount. We're grateful to our shareholders and new investors for their confidence in Kingman's projects and team."

Annual general meeting results

The company also reports that its annual general meeting of shareholders was held on Oct. 21, 2025, in Vancouver, B.C. All resolutions set out in the management information circular dated Sept. 10, 2025, were duly passed, including:

• Setting the number of directors at five;
• Re-electing Peter Born, Cyrus Driver, Arthur Brown, Bradley Peek and Simon Studer as directors;
• Reappointing Dale Matheson Carr-Hilton Labonte LLP as auditor for the ensuing year; and
• Approving and ratifying the company's 10-per-cent rolling stock option plan.

A total of 3,929,028 shares (18.4 per cent of issued and outstanding) were represented at the meeting, constituting quorum.

Corporate update

In accordance with TSX Venture Exchange Policy 3.3 and as part of an exchange review, the company provides the following disclosure regarding a loan previously entered into with CDN Maverick Capital Corp., a Canadian Securities Exchange-listed issuer:

• On Dec. 15, 2022, the company entered into a loan agreement in the amount of $100,000, which was fully repaid on April 24, 2023, including bonus and accrued interest.
• On May 14, 2024, the company entered into a loan agreement in the amount of $50,000. Both the interest and bonus associated with this loan have since been forgiven.

About Kingman Minerals Ltd.

Kingman is a publicly traded exploration and development company focused on precious metals in North America. The company's flagship project is the 100-per-cent-owned historic Rosebud mine, located in the Music Mountains, Mohave county, Arizona. High-grade gold and silver veins were discovered in the area in the 1880s, and were mined mainly in the late 1920s and 1930s. Underground development on the Rosebud property included a 400-foot shaft and approximately 2,500 feet of drifts, raises and crosscuts. The company believes that further exploration, drilling and sampling along strike and depth extensions of existing and additional vein structures are essential to fully evaluate the project's potential.

We seek Safe Harbor.