Mr. Ed Dumond reports

MATACHEWAN ANNOUNCES BOARD AND MANAGEMENT CHANGES

Effective July 5, 2026, Carlo Rigillo has been appointed as chief financial officer, corporate secretary and director of Matachewan Consolidated Mines Ltd., and Zachary Goldenberg has been appointed as director of the company.

Mr. Rigillo is an experienced chartered professional accountant, and has over two decades of experience developing risk management frameworks and business processes at the strategic, operational and technical levels within organizations at an international and national level. Mr. Rigillo holds a bachelor of commerce from the University of Toronto and is a chartered professional accountant.

Mr. Goldenberg is the principal of Liberty Venture Partners, a Toronto-based advisory and investment firm focused on start-up and growth companies in rapidly emerging industries. A corporate lawyer by background, Mr. Goldenberg has significant experience in both the private and public markets as an adviser, investor and board director, and has spent much of the past decade working with companies transitioning from private to public navigate the Canadian public venture markets, and to source and close strategic transactions. He is a graduate of the combined JD/HBA from Western Law and Ivey School of Business, and is a member of the TSX Venture Exchange's Ontario advisory committee.

To create a vacancy for Mr. Rigillo's and Mr. Goldenberg's appointments, Ed Dumond has resigned as chief financial officer and corporate secretary, and Richard German, Michael Zurowski and Douglas Bolton have resigned as directors of the company. The company is thankful for the many contributions of Mr. Dumond, Mr. German, Mr. Zurowski and Mr. Bolton, and wishes them the best in their future endeavours.

The company's management and board of directors now consists of Richard (Bo) McCloskey (chief executive officer and director), Mr. Rigillo (CFO, corporate secretary and director), Mr. Dumond (director) and Mr. Goldenberg (director).

We seek Safe Harbor.