Mr. Anthony Zelen reports

LONGHORN EXPLORATION CORP. ANNOUNCES COMPLETION OF AMT SURVEY AT THE FAME GOLD PROPERTY

Longhorn Exploration Corp. has completed a geophysical survey on the Fame property (located approximately 82 kilometres southwest of Williams Lake, B.C.) in July, 2024.

The geophysical team conducted a Volterra-AMT survey that complemented the data generated from the 2022 magnetometer and VLF (very low frequency) airborne survey. The team created a 3-D model of both the AMT and IP resistivity showing anomalously high and low numbers. Based on the results of the airborne and ground geophysical surveys targets may be delineated for future exploration.

The Fame property consists of 11 contiguous mining titles and covers an area of 3,200 hectares. It hosts several mineral showings consisting of mineralization that have been classified as epithermal gold. The main target type on the Fame property is an epithermal gold deposit. The 2012 IP survey that was conducted over most of the known showings was successful in delineating zones of higher chargeability, which may relate to zones of disseminated pyrite or other sulphides; higher resistivity, which may relate to either intrusions or zones of silicification; in addition to providing depth profiles of targets.

The development of this work program is based on the information generated by the analysis of previous work completed on the Fame property, combined with the 2022 completed airborne geophysical survey.

A low resistivity, subvertical structure appears in the AMT data which correlates well with the low resistivity area in the IP interpretation. It also trends north-northwest at the same location low resistivity; subvertical structure appears in the AMT data which correlates well with the low resistivity area in the IP interpretation. It also trends north-northwest at the same location.

A low resistivity feature is seen between these interpreted high resistivity features in the IP and AMT data. The AMT data also show another high resistivity area directly below the IP resistivity high below a depth of approximately 900 almost directly underneath the Kelsch and Double Diamond showings and may be associated with the Kelsch lineament.

The AMT model appears to be consistent with an historical IP resistivity model in a broad sense where areas of anomalously high and low data in each data set are compared. The interpretation is made of a subvertical, low-resistivity feature trending in the north-northwest direction coincident with the location of the Discovery lineament. Several previously identified showings appear to be located above areas of interpreted low resistivity. The AMT model does not show anomalously high resistivities near the surface as does the IP model, but could be explained by the limitation of the AMT method where extremely high frequencies are required to image the near surface in highly resistive areas; the inversion did not have enough information in this area. The AMT data also show another high resistivity area directly below the IP resistivity high below a depth of approximately 900 m. A low resistivity feature is seen between these interpreted high resistivity features in the IP and AMT data. It lies almost directly underneath the Kelsch and Double Diamond showings and may be associated with the Kelsch lineament.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Chris Dyakowski, PGeo, a consultant of the company, the optionor of the Fame property and a qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. Mr. Dyakowski verified the data disclosed which includes a review of the sampling, analytical and test data underlying the information and opinions contained therein. SJ Geophysics Ltd. completed the Volterra-AMT. The Fame property grid consisted of nine survey lines, spaced 200 metres apart and oriented with an azimuth of 53 degrees. The length of the lines are 600 m. Along each line, 100 by 100 m orthogonal crosses were planned at a spacing of 200 m. The Volterra distributed acquisition system was employed for acquiring audio-magnetotelluric (AMT) data. AMT data were collected overnight to gather high-quality data, resulting in approximately 10 hours of measurements at each station. The SJ Geophysics field crew consisted of one crew lead, one field geophysicist and one technician to perform the day-to-day operations of the survey. A second geophysicist joined the crew on July 15, 2024. This team oversaw all operational aspects including field logistics, data acquisition and initial field data quality control.

About Longhorn Exploration Corp.

Longhorn Exploration has the exclusive right and option to acquire PureWave Hydrogen's rights and obligations under four lease agreements, located in Kansas, United States, known as the Lily Rock hydrogen project, which allow for the prospecting, exploration, drilling and production of any substance including hydrogen gas. The company also has an option to acquire a 100-per-cent interest and title to the Fame property located in the Clinton mining division, British Columbia.

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