Mr. Gabriel Pindar, a shareholder, reports

DIRECTOR OF CHAMPION ELECTRIC METALS INC. FILES EARLY WARNING REPORT IN CONNECTION WITH DEBT SETTLEMENT

Gabriel Pindar has acquired 16.44 million common shares of Champion Electric Metals Inc. in accordance with the early warning requirements of National Instrument 62-104, Takeover Bids and Issuer Bids, of the Canadian Securities Administrators.

On May 22, 2026, the acquiror closed a debt settlement agreement with the issuer to settle outstanding indebtedness in the aggregate amount of $164,400. In full satisfaction of this debt, the issuer issued to the acquiror 16.44 million common shares at a deemed price of one cent per common share.

Immediately prior to the completion of the debt settlement, the acquiror had ownership of 20,358,974 common shares and two million options to purchase common shares, representing beneficial ownership of approximately 6.3 per cent of the total issued and outstanding common shares on a non-diluted basis and 6.88 per cent on a partially diluted basis (assuming exercise of all two million options held by the acquirer).

Immediately following the completion of the debt settlement, the acquiror acquired ownership of an additional 16.44 million common shares, resulting in the acquiror's ownership in Champion increasing to 36,798,974 common shares and two million options to purchase common shares, representing beneficial ownership of and control over 10.81 per cent of the total issued and outstanding common shares on a non-diluted basis and 11.33 per cent on a partially diluted basis (assuming exercise of all two million options held by the acquirer), which is above the threshold for early warning reporting.

The common shares were acquired by the acquiror for investment purposes. Depending on market conditions, the business and financial condition of the issuer, and other relevant factors, the acquiror may from time to time acquire additional securities of the issuer, dispose of some or all of the securities it holds, or continue to hold its current position.

An early warning report in respect of the debt settlement will be filed under Champion's profile on SEDAR+ and may also be obtained by contacting the acquirer (care of Champion) at 1-416-744-9998.