Mr. Edward Dumond reports

MCCHIP ANNOUNCES SPECIAL DISTRIBUTIONS

McChip Resources Inc.'s board of directors has declared a special one-time distribution of cash and a special one-time distribution of common shares of Taranis Resources Inc. that are held by the company to its shareholders of record at the close of business on April 10, 2026. The distributions will be made on April 21, 2026.

After careful consideration of the potential alternatives, the board determined that it is in the best interest of the company for it to make the distributions.

Each of the cash dividend and the share distribution is designated as an eligible dividend for Canadian income tax purposes.

Cash distribution

The company will distribute an aggregate of $6,556,105.60 pursuant to the cash distribution, which will amount to $1.10 per common share of the company held. A portion of the cash distribution in the amount of $5,185,283.52 (or 87 cents per common share) will constitute a return of capital to the shareholders, with the rest in the amount of $1,370,822.08 (or 23 cents per common share) to be treated as a dividend. On Oct. 1, 2025, the shareholders approved a special resolution authorizing a reduction of the stated capital account maintained in respect of the company shares by an amount equal to $5.2-million to allow the company to make such return of capital in cash to the shareholders.

Taranis share distribution

The company will distribute an aggregate of 17,377,244 Taranis shares to the shareholders pursuant to the share distribution, which will amount to approximately 2.9156 Taranis shares per company share held.

The share distribution will be effected by way of a dividend in kind.

Due bill trading

The distributions will be completed in accordance with the applicable due bill trading procedures of the TSX Venture Exchange. The company shares will be traded in accordance with the due bill procedures from the record date, being April 10, 2026 (inclusive), until the close of trading on the distribution date, being April 21, 2026 (inclusive). Any trades executed on the TSX Venture Exchange during the due bills period will be identified to ensure that purchasers of company shares receive entitlement to the distributions, whereby the sellers of the company shares during the due bill period will also sell their entitlement to the distributions to the respective purchasers of such company shares. The company shares will commence trading on an ex distribution basis without an attached due bill entitlement to the distributions from the opening of trading on the day following the distribution date, being April 22, 2026, which is the applicable redemption date for the due bills.

We seek Safe Harbor.