Vancouver, British Columbia--(Newsfile Corp. - October 4, 2026) - Krait Critical Minerals Corp. (CSE: KRIT) (FSE: U0S) (the "Company" or "Krait") is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement (the "Offering"), issuing 1,631,100 common shares (the "Shares") at $0.75 per Share for gross proceeds of $1,223,325.

Further to its news releases dated September 8, 2026, and September 16, 2026, and September 25, 2026, the Company has now issued an aggregate of 2,016,099 common shares under the Offering for total gross proceeds of $1,512,074.25. The Offering was increased to a maximum of $2,000,000 on September 16, 2026. No warrants were issued to subscribers in connection with the second tranche. The Company expects to close the final tranche of the Offering within approximately one week, subject to customary closing conditions and any required regulatory approvals.

In connection with this closing, the Company paid aggregate cash finder's fees of $3,675 and issued 4,900 non-transferable finder's warrants. Each finder's warrant entitles the holder to acquire one common share of the Company at an exercise price of $0.95 for a period of one year from the date of issuance, subject to applicable securities laws and Canadian Securities Exchange ("CSE") policies.

"With the second tranche now closed, we have raised approximately $1.51 million to support our exploration and evaluation priorities," said Oscar Mendoza, Chief Executive Officer and Director of Krait. "We appreciate the continued support of our investors as we advance work at Goldbar Spider Lake and assess the antimony opportunities held through Nevada Hills in Washington State."

The Company intends to use the net proceeds for exploration expenditures at its Goldbar Spider Lake Project in Ontario; continued evaluation of assets held through its wholly owned subsidiary, Nevada Hills Antimony LLC ("Nevada Hills"), including interests relating to the Bales Antimony Project and the Antimony Bell Project in Washington State; and general working capital and corporate purposes.

Krait completed its acquisition of Nevada Hills on September 16, 2026. Nevada Hills holds contractual rights to acquire the underlying Bales claims; the acquisition of Nevada Hills did not give Krait direct ownership of those claims.

The Shares and finder's warrants issued in connection with the second tranche, together with any common shares issued upon exercise of the finder's warrants before expiry of the applicable hold period, are subject to a statutory hold period of four months and one day from their respective dates of issuance, in addition to any applicable Canadian Securities Exchange ("CSE") restrictions.

About Krait Critical Minerals Corp.

Krait Critical Minerals Corp. is a Canadian mineral exploration company focused on advancing its Goldbar Spider Lake Project in Ontario while evaluating additional mineral opportunities in North America. The Company's strategy is to combine disciplined project evaluation, modern exploration technologies and responsible field programs to identify and advance high-quality exploration opportunities with the potential to create long-term shareholder value.

Krait's flagship asset is the Goldbar Spider Lake Project in Ontario's Thunder Bay Mining Division, approximately 20 kilometres east of Terrace Bay and 30 kilometres west-northwest of Marathon. The 3,636-hectare (approximately 8,985-acre) property comprises 148 mining claims and 171 claim units, and Krait has an option to earn a 100% interest, subject to a 3% net smelter return royalty. Located within the western Schreiber-Hemlo Greenstone Belt, the Project benefits from year-round access via Highway 17, nearby rail and power infrastructure, and proximity to established mining communities and service providers.

Krait acquired Nevada Hills Antimony LLC ("Nevada Hills") on September 16, 2026. Through Nevada Hills, Krait holds contractual interests relating to the Bales Antimony Project, together with interests in the Antimony Bell Project and other related assets in Washington State. The acquisition expanded Krait's critical-minerals portfolio to include U.S.-based antimony exploration opportunities.

Investors are encouraged to visit Krait's new corporate website at www.kraitminerals.com to learn more about the Company, its Goldbar Spider Lake Project, management team, corporate strategy and latest news.

All stakeholders are encouraged to follow the Company on LinkedIn, X.com, Facebook, and Instagram.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

On Behalf of the Board of Directors
Oscar Mendoza
Chief Executive Officer and Director

Disclaimer for Forward-Looking Information

This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking information") within the meaning of applicable Canadian securities laws. Forward-looking information is often identified by words such as "expects," "intends," "plans," "anticipates," "may," "will," "could" and similar expressions. Forward-looking information in this release includes statements concerning the anticipated application of net proceeds; the Company's planned exploration expenditures and activities at Goldbar Spider Lake; continued evaluation of the Nevada Hills assets, including antimony opportunities in Washington State; and Krait's exploration and corporate plans.

Forward-looking information is based on management's current expectations and assumptions as of the date of this release, including that subscribers will fund their commitments, customary closing conditions will be satisfied and any required regulatory approvals will be obtained; that market conditions will remain suitable; required permits and property access will be obtained; contractors and other resources will be available; and the Company will be able to carry out its planned activities and apply the proceeds substantially as intended. These assumptions may prove incorrect.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied. These include the risk that the final tranche is delayed, raises less than anticipated or does not close; that subscriptions are changed or withdrawn; that required regulatory approvals are delayed or not obtained; changes in market conditions, exploration priorities or costs; permitting or access delays; contractor availability; adverse technical results; uncertainty in geological interpretation; risks relating to contractual property interests and obligations under applicable agreements; and the risk that actual use of proceeds differs from the present plan. Additional risks are described in the Company's continuous disclosure filings available on SEDAR+ at www.sedarplus.ca.

There can be no assurance that the final tranche will close within the anticipated timeframe or at all, that the Offering will raise its maximum amount, or that planned exploration and evaluation activities will proceed as anticipated or result in a mineral discovery. Readers should not place undue reliance on forward-looking information. Except as required by applicable securities laws, the Company undertakes no obligation to update or revise such information as a result of new information, future events or otherwise.

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