Mr. Clive Massey reports

KIRKSTONE METALS ACQUIRES SAMPSON LAKE PROPERTY, SASKATCHEWAN

Kirkstone Metals Corp. has entered into a share purchase agreement with privately held Samson Metals Corp. and the sole shareholder of Samson, Konrad Pimiskern (the vendor), pursuant to which the company has agreed to acquire all the issued and outstanding shares of Samson in consideration for the issuance of 4.1 million common shares in the capital of the company.

Samson, through its interest in two separate property option agreements, has the right to acquire two mineral claims located in the province of Saskatchewan comprising a total land area of approximately 823 hectares. The claims are commonly known as the Sampson Lake property and comprise the Sampson Lake project and the Cluff Lake Road project. Under the terms of the underlying agreements, Samson will acquire Sampson Lake property mineral claims on completion of staged cash payment of $370,000 and incurring $400,000 in exploration expenditures over the next two years, subject to a 2-per-cent net smelter return royalty granted to each vendor, a portion of which can be purchased in accordance with the terms of the underlying agreements.

Samson, the vendor and the vendors of the underlying agreements are arm's length of the company and the issuance of consideration shares to the vendor will not result in the creation of a new insider of the company. The closing of the purchase agreement and the issuance of the consideration shares remain subject to the approval of the TSX Venture Exchange. No finders' fees or commissions will be paid in connection with closing of the purchase agreement.

The acquisition of the Sampson Lake property adds two high-value exploration projects to the company's portfolio of Athabasca assets.

The Sampson Lake project lies in the eastern Athabasca basin, contiguous to Uranium Energy Corp.'s West Bear property. Historic exploration has identified a major greater-than-10-kilometre linear EM (electromagnetic) anomaly associated with a northeast-trending regional structure. The southern end of the anomaly lies along the southern boundary of the Mitchell property with ground EM also highlighting linear splay structures trending well into the property.

The Cluff Lake Road (CLR) project covers approximately 531 hectares in the southwestern Athabasca basin in Northern Saskatchewan, where several new discoveries, including the Arrow and Tripe R uranium deposits, have been made. The CLR project is five kilometres east of the Cluff Lake Road (Highway 955), which leads to the historic Cluff Lake mine, which produced approximately 62 million pounds of yellowcake uranium. The Cluff Lake Road project adjoins the eastern border of Fission 3.0's Patterson Lake North project, which has a long history of exploration.

Historic work

The CLR project, which has excellent road access, is considered to be drill ready with multiple classic unconformity-style targets:

• In 2013 and 2017, Zadar Ventures Ltd. completed both a DC (direct-current) resistivity geophysical survey and a radon cup survey at the CLR project and defined the primary exploration target: a resistive anomaly, approximately four kilometres long, trending generally north-south and which is concurrent with radon gas anomalies, the latter being a uranium decay product.
• In 2022, the CLR project was inspected with an 842.5-line-kilometre ground magnetic survey, the results of which provided a detailed understanding of local geology, including faults and contacts.

At present, the company is prioritizing subsurface anomalies with similarities to the Shea Creek deposit and the CLR project. The Shea Creek uranium deposit is located approximately 30 kilometres northwest of the CLR project and has an indicated mineral resource of 67.66 million pounds of uranium (2,067,900 tonnes grading 1.48 per cent U3O8 (triuranium octoxide)) and an inferred mineral resource of 28.19 million pounds of U3O8 (1,272,200 tonnes grading 1.01 per cent U3O8).

The data disclosed in this news release relate to historical exploration. Kirkstone has not undertaken any independent investigation of the sampling, nor has it independently analyzed the results of the historical exploration work to verify the results. Kirkstone considers these historical drill results relevant as the company will use these data as a guide to plan exploration programs. The company's current and future exploration work includes verification of the historical data through exploration and drilling.

The company's management cautions that results, discoveries or production on properties in proximity to the company's properties may not necessarily be indicative of the presence of mineralization on the company's properties.

Qualified person

The technical information in this news release has been reviewed and approved by Tim Henneberry, PGeo, a director of the company and a qualified person as defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Kirkstone Metals Corp.

Kirkstone Metals is a Canadian mineral exploration company focused on uranium assets that support the global transition to reliable, clean energy. Its flagship Key Lake Road uranium project is located in Saskatchewan's Athabasca basin, one of the world's premier uranium districts, and the company emphasizes responsible exploration and disciplined capital allocation.

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