Mr. Zachary Goldenberg reports

MATACHEWAN ANNOUNCES BOARD AND MANAGEMENT CHANGES

Effective July 17, 2026, Richard (Bo) McCloskey has resigned as chief executive officer and director of Matachewan Consolidated Mines Ltd. The company recognizes the many contributions of Mr. McCloskey over the past 50 years and is grateful for his continued support as a Matachewan shareholder.

Zachary Goldenberg, an existing director of the company, has been appointed as chief executive officer of Matachewan effective July 17, 2026.

The company's management and board of directors now consists of Mr. Goldenberg (CEO and director), Carlo Rigillo (chief financial officer, corporate secretary and director) and Ed Dumond (director).

About Matachewan Consolidated Mines Ltd.

Matachewan is a Canadian natural resource company incorporated in 1933 and headquartered in Toronto, Ont. Matachewan maintains exposure to the natural resource sector through investments in mineral and other resource-related opportunities. Its common shares trade on the TSX Venture Exchange under the symbol MCM.A.

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