Mr. Peter Cashin reports

KINTAVAR ANNOUNCES PRIVATE PLACEMENT

Kintavar Exploration Inc. intends to complete a financing by way of non-brokered private placement to advance a drill program on its Roger project. Recent downhole EM (electromagnetic) surveys have outlined multiple moderate to strong off-hole conductors consistent with the company's copper-zinc-gold-silver VMS (volcanogenic massive sulphide) model. Proceeds will be used to initiate drilling on the strongest anomalies.

Drilling is planned for early 2026 to test the conductors and confirm the source of the sulphide responses. With the latest results strengthening the VMS interpretation and highlighting a cohesive geological framework, the private placement positions Kintavar to advance a focused program and further evaluate the project's base metal potential.

Kintavar's intention is to raise up to $5-million through a non-brokered private placement. The offering will consist of charity flow-through units priced at 11.5 cents per unit and flow-through common shares priced at nine cents per share for aggregate gross proceeds of up to the maximum amount. The company may accept any combination of charity flow-through units and flow-through shares, up to the maximum amount. All figures are in Canadian dollars unless otherwise stated.

Each charity flow-through unit will consist of one common share and one-half of one common share purchase warrant of the company. Each charity flow-through share and each warrant which will qualify as a flow-through share for purposes of the Income Tax Act (Canada) and the Taxation Act (Quebec). Each warrant is exercisable to acquire one non-flow-through common share of the company at 12 cents per common share at any time prior to the day that is 24 months from the closing date.

Each flow-through share will also qualify as a flow-through share for purposes of the of the tax act and the Quebec tax act.

The closing of the offering is expected to occur on or about Dec. 9, 2025, and is subject to customary closing conditions and regulatory approvals, including the approval of the TSX Venture Exchange.

The gross proceeds raised from the issuance of the flow-through shares and charity flow-through units will be used by the company to incur eligible Canadian exploration expenses that will qualify as flow-through critical mineral mining expenditures, as such terms are defined in the tax act to advance exploration on the Roger copper-gold project.

The company may pay finders' fees in connection with the offering to eligible arm's-length finders in accordance with TSX-V policies and applicable securities laws.

The charity flow-through units and flow-through shares will be offered by way of private placement pursuant to applicable exemptions from the prospectus requirements under applicable securities laws. All charity flow-through units and flow-through shares issued in connection with the offering are subject to a hold period of four months and one day following the closing date under applicable Canadian securities laws.

Roger copper-gold project

The Roger project is located approximately five kilometres northwest of Chibougamau and spans 987 hectares across 28 mineral claims. The Roger 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 written 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 gram per tonne silver and 0.06 per cent copper (333,000 ounces gold equivalent), and an inferred resource of 6,569,000 tonnes at 0.75 gram per tonne gold, 1.18 grams per tonne silver and 0.11 per cent copper (202,000 ounces gold equivalent). 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. See "Disclosure regarding historical resources" below for more information.

Reinterpreting the Roger copper-gold project

While the Roger project deposit was historically interpreted as a porphyry-style or intrusion-related gold-copper system, Kintavar's recent work suggests that strong potential for gold-rich base metal sulphides also exists on the property. The high degree of deformation and alteration observed in the rocks raises questions about the prior intrusive-only origin of the mineralization.

Base metal sulphide intervals across the property are observed to occur within iron chlorite-altered felsic to intermediate tuffs, agglomerates and banded flows, characteristic of VMS-style horizons. This mineralized marker horizon has now been traced along at least 1.4 kilometres of strike length.

To refine this model, Kintavar has systematically compiled and re-evaluated all historical data from the Roger project, completing relogging and resampling of drill core, detailed rock geochemistry, and age dating of mineralized host rocks. In parallel, physical property testing (density, magnetic susceptibility, conductivity, resistivity and chargeability) across all lithologies was completed to better detect subtle geophysical signatures of deep sulphide targets.

Geological comparisons with known VMS deposits in the Abitibi greenstone belt.

The geological reinterpretation of the historical exploration work completed on the property shows very strong similarities to the geological and geochemical environment of the Agnico Eagle's LaRonde 20N massive sulphide deposit. Results from major oxide and trace element geochemical analysis from sampling of historical core completed in early August are comparable with the chemical signatures of LaRonde Mine rocks.

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 and is independent of the company applying the tests set out in NI 43-101. A copy of the technical report has been filed under the company's SEDAR+ profile.

The historic report summarized above has been included simply to demonstrate the mineral potential of the Roger project. The company considers the historical estimate to be relevant to the further development of the Roger 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 and 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 Roger 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.

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.

We seek Safe Harbor.