Mr. Peter Cashin reports

KINTAVAR CLOSES ITS ACQUISITION OF ROGER COPPER-GOLD PROJECT IN CHIBOUGAMAU, QUEBEC; APPOINTS NEW MANAGEMENT AND BOARD

Kintavar Exploration Inc. has closed its acquisition of the Roger copper-gold project, previously announced on April 22, 2025, and appointed Peter Cashin as chief executive officer.

Highlights:

• Kintavar to refocus its strategy around newly acquired Roger copper-gold project;
• Mr. Cashin, new CEO, has direct experience at Roger;
• Re-envisioning Roger's existing intrusive model to a newly copper/zinc/gold/silver/VMS (volcanogenic massive sulphide) interpretation backed by evidence;
• Planned in-hole geophysics on historical drill holes targeting conductors linked to massive sulphide bodies by end of 2025;
• Well financed with Ore Group support and strategic partnerships to pursue an aggressive VMS exploration strategy in Chibougamau.

"I am excited to be stepping into the role of CEO of Kintavar and refocus our efforts around exploring and developing the newly acquired Roger project. Our new thesis re-envisions Roger under a polymetallic VMS model, moving away from the existing interpretation. Having worked at Roger early in my career, I look forward to leading our team and making additional discoveries in the Chibougamau region," said Mr. Cashin, CEO of Kintavar.

Roger copper-gold project

Roger is located approximately five kilometres northwest of Chibougamau and spans 987 hectares across 28 mineral claims. The project was the subject of a historical mineral resource estimate in a technical report entitled "NI 43-101 Technical Evaluation Report on the Roger (1206) Property," dated Oct. 9, 2018, and authored by Geologica Groupe-Conseil, which was prepared for Soquem and Enforcer Gold Corp. The historic report disclosed an indicated resource of 10.9 million tonnes at 0.85 gram per tonne gold, 0.80 g/t silver and 0.06 per cent copper (333,000 ounces gold equivalent) and an inferred resource of 6,569,000 tonnes at 0.75 g/t gold, 1.18 g/t silver and 0.11 per cent copper (202,000 ounces AuEq). The company is treating the historical estimate as a historical mineral resource under National Instrument 43-101, Standards of Disclosure for Mineral Projects, and the reader is cautioned not to treat it, or any part of it, as a current mineral resource. The company has not done sufficient work to classify the historical estimate as a current mineral resource.

New exploration model

The company is in the process of systematically compiling and evaluating all historical data from Roger. Historical data indicate strong potential for volcanic-hosted massive Cu/Zn/Au/Ag sulphide (VMS) deposits at Roger. Preliminary evaluation, including relogging and resampling of historical drill core, detailed rock geochemistry, and age dating of the host rock to existing mineralization was completed in early August. While the majority of mineralization at Roger is made up of porphyry-bearing rocks, the high degree of deformation and alteration brings into question the intrusive nature of the host mineralization as previously interpreted. Significant base metal intersections observed in historical core, including 7.0 per cent Zn, 0.36 per cent Cu and 10.5 g/t Ag over 6.0 m, within highly iron chlorite altered felsic to intermediate tuffs, agglomerates or banded flows are interpreted to represent a marker horizon to a massive sulphide deposit.

Roger exploration plan for 2025

In addition to the data compilation and evaluation of all historical data, in-the-hole geophysical surveys of existing drill holes will be conducted, to identify conductors related to off-hole massive sulphide bodies. Kintavar anticipates this work to be completed by the end of 2025.

Portfolio of gold and copper assets

In addition to Roger, Kintavar has 17 projects across Quebec's best-known mining regions, including within the Nelligan-Monster Lake district, where it has partnered with Iamgold on its Anik gold project. Kintavar also owns the district-scale, resource-stage Mitchi project (measured and indicated resource of 2.99 million tonnes at 0.4 per cent copper and four grams per tonne silver constrained within a shallow open pit with a cut-off grade of 0.2 per cent copper and inferred resource of 85,000 tonnes 0.35 per cent copper and 3.8 g/t silver; see Kintavar's news release dated June 15, 2023) and the Wabash project, which has seen high-grade drill results, including 1.01 per cent copper and 19.3 g/t silver over 16.8 metres (see Kintavar's news release dated March 24, 2022).

New management and board

Mr. Cashin, CEO

Mr. Cashin is a respected minerals industry executive with over 40 years of experience in all facets of the Canadian mining exploration and development sector. Mr. Cashin obtained his bachelor of science in geology from the University of New Brunswick in 1979 and a master of science degree in mineral exploration from McGill University in 1985. Most recently, prior to establishing his critical mineral consultancy, Apex Mineral Consultants Inc., Mr. Cashin was the founder and president and CEO of Imperial Mining Group Ltd. from 2018 to 2023. Mr. Cashin is also the president and CEO of Peak Mining Corp., a private mineral asset holding company, since April, 2015. Mr. Cashin's greatest career success was as the president and CEO of Quest Rare Minerals Ltd. between January, 2008, and April, 2015. It was with Quest that Mr. Cashin and his exploration team were credited with the discovery of the Strange Lake B-zone heavy rare earth deposit in northeastern Quebec in 2009, considered the largest deposit of its type in the world outside of China. He led the company through the advance development stages of the deposit. The discovery was acknowledged for this exploration and deposit development success with their awarding by the Quebec Mineral Exploration Association of the Quebec Prospector of the Year Award in 2010.

Mr. Cashin has been a practising professional geoscientist with the Professional Geoscientists of Ontario (PGO) in Canada since 2008.

Joel Friedman, chief financial officer

Mr. Friedman is a finance executive with over 15 years of experience working in the mining and cannabis industries. Mr. Friedman is currently the CFO of publicly traded exploration companies: Orecap Invest Corp., XXIX Metal Corp., American Eagle Gold, Baselode Energy, Mistango River Resources and Metal Energy. Prior to this, Mr. Friedman served as the CFO of Khiron Life Sciences Corp., vice-president, finance, at CannTrust Inc. and director of finance at Primero Mining Corp. as well as held senior finance roles at Banro Corp. and Iamgold Corp. He began his career at Deloitte in the real estate and resources group, where he worked with a variety of publicly listed clients throughout the mining life cycle, from exploration to multiasset operators. Mr. Friedman holds a CPA/CA and an honours bachelor of business administration from the Schulich School of Business at York University, Canada.

New board of directors

In connection with closing, Kintavar's board of directors now comprises six individuals. Stephen Stewart, Charles Beaudry, James Sykes and Ardem Keshishian have been appointed to the board, joining Kirill Mugerman and Guy Le Bel and replacing Maxime Lemieux and Genevieve Ayotte.

Transaction details

Pursuant to the asset purchase agreement (APA), dated April 21, 2025, between the company and XXIX Metal and Orecap Invest (collectively, the vendors), Kintavar acquired 100 per cent of the Roger gold project for a purchase price of $2,137,500 through the issuance of 42.75 million Class A common shares of the company to each of the vendors, at a deemed price of 2.5 cents per common share. The transaction was approved by Kintavar shareholders on Aug. 25, 2025.

Following closing, Kintavar has 222,503,378 shares issued and outstanding. For more information regarding the transaction, please refer to the APA, a copy of which is available on the corporation's SEDAR+ profile.

About Kintavar Exploration Inc.

Kintavar is a Quebec-focused copper and gold company with one of the province's largest and most diversified exploration portfolios. Its 100-per-cent-owned flagship Roger project, located in the Chibougamau district, hosts a known gold-copper deposit with strong potential to host volcanic-hosted polymetallic massive sulphide deposits. With a diversified pipeline of greenfield projects across Quebec's best-known mining regions and backed by the Ore Group's proven exploration and capital markets team, Kintavar has a clear focus on discovery and growth for copper, zinc and gold. The company is well positioned to immediately execute an aggressive exploration and acquisition strategy and attract broader market attention.

Qualified person statement

The technical information contained in this news release has been reviewed and approved by Charles Beaudry, PGeo (No. 1202), Geo (No. 311), a qualified person as defined in NI 43-101.

Disclosure regarding historical resources

The historic report has been replaced by a technical report dated July 24, 2025, entitled "43-101 Technical Report on the Roger Property," which does not contain a resource estimate. The technical report was prepared for Kintavar by Alain-Jean Beauregard, PGeo, who is a qualified person as defined in NI 43-101, Standards of Disclosure for Mineral Projects, and is independent of the corporation applying the tests set out in NI 43-101. A copy of the technical report will be filed under the corporation's SEDAR+ profile upon completion of the transaction.

The historic report summarized above has been included simply to demonstrate the mineral potential of Roger. The company considers the historical estimate to be relevant to the further development of the project; however, it is not treating the historical estimate as a current mineral resource. The historical estimate was calculated in accordance with NI 43-101 and CIM (Canadian Institute of Mining, Metallurgy and Petroleum) standards at the time of publication and predated the current CIM Estimation of Mineral Resources & Mineral Reserves Best Practices Guidelines (November, 2019).

The qualified person has not done sufficient work to upgrade the resource as current. To upgrade or verify the historical resource as current, the company will need to complete a thorough review, analysis and resampling of the historical information and drill data as discussed above, along with the incorporation of subsequent exploration work and results subsequent to the publication of the historic report. Additionally, a full review of the economic parameters utilized to determine reasonable prospects of eventual economic extraction would be required in order to produce a current mineral resource for the project. Any future mineral resource will need to evaluate the open-pit and/or underground potential taking into consideration the current cost and pricing conditions and constraints, along with continuity of resource blocks.

Early warning requirements

As required by NI 62-103, The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, XXIX has filed an early warning report in connection with its acquisition of the Kintavar shares pursuant to the transaction. The Kintavar shares were acquired by XXIX, a company organized and existing under the laws of British Columbia, with a registered office at Suite 1102, 141 Adelaide St. W, Toronto, Ont., M5H 3L5.

Prior to the completion of the transaction, XXIX did not directly or indirectly own or exercise control over any Kintavar shares, nor any securities exercisable into Kintavar shares. Following the completion of the transaction, XXIX directly owns and exercises control over 42.75 million Kintavar shares, representing approximately 19.97 per cent of the issued and outstanding Kintavar shares. XXIX did not and does not hold any warrants before or after the completion of the transaction.

The Kintavar shares were acquired for investment purposes. XXIX currently has no other plans or intentions that relate to, or would result in the matters listed in clauses (a) to (k) of Item 5 of Form 62-103F1, except that, pursuant to the APA, XXIX and Orecap have the right to appoint a new chief executive officer and chief financial officer of Kintavar and nominate two individuals to the board of directors of Kintavar.

As required by NI 62-103, The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, Orecap has filed an early warning report in connection with its acquisition of the Kintavar shares pursuant to the transaction. The Kintavar shares were acquired by Orecap, a company organized and existing under the laws of British Columbia, with a registered office at Suite 1102, 141 Adelaide St. W, Toronto, Ont., M5H 3L5.

Prior to the completion of the transaction, Orecap did not directly or indirectly own or exercise control over any Kintavar shares, nor any securities exercisable into Kintavar shares. Following the completion of the transaction, Orecap directly owns and exercises control over 42.75 million Kintavar shares, representing approximately 19.97 per cent of the issued and outstanding Kintavar shares. Orecap did not and does not hold any warrants before or after the completion of the transaction.

A copy of the early warning reports with respect to the foregoing will appear on the company's profile on SEDAR+. A copy of the reports may also be obtained by contacting Mr. Stewart, chairman of XXIX and Orecap.

We seek Safe Harbor.