Mr. Armen Chilian reports

METALORE ANNOUNCES RESULTS OF AGM AND PROVIDES JV UPDATE

Metalore Resources Ltd. has released the results of its recent annual general meeting of shareholders (AGM), which was held on Sept. 26, 2026.

A total of 1,292,708 common shares (72.83 per cent of the votes attached to all outstanding common shares as at the record date) were represented at the AGM. All the matters submitted to the shareholders for approval as set out in the company's notice of meeting and information circular dated Aug. 31, 2026, were approved by the requisite majority of votes cast at the AGM. Shareholders approved setting the size of the board to five directors as follows: Armen Chilian, Ashley Nadon, Timothy Cronkwright, Peter Cox and John McVicar. Following the AGM, the board appointed Mr. Chilian as president and chief executive officer, and Ms. Nadon as chief financial officer.

JV (joint venture) update

Equinox Gold Corp. (Greenstone Gold Mines) is currently exploring the Brookbank properties and expects results from recently completed ambient noise tomography (ANT) surveys, and rock and soil sampling within the next few weeks. An initial 8,500-metre diamond drilling program is planned to follow.

At Metalore's AGM, shareholders and directors unanimously agreed not to participate in the current JV exploration of the Brookbank project. This decision allows Metalore to preserve its cash while retaining its Brookbank royalty interests: a 1.5-per-cent net smelter return (NSR) on the Cherbourg-Foxear properties (which surround the main Brookbank gold deposit) and a 1.0-per-cent NSR on the Walters-Leduc-Legault properties to the east, should JV expenditures dilute Metalore's ownership percentage in either project area to 10 per cent or less.

About Metalore Resources Ltd.

Metalore has produced natural gas from its Southwestern Ontario operations since 1964. Revenues generated from natural gas sales have enabled the company to explore Northwestern Ontario for gold, copper, zinc, lithium, PGEs (platinum group element) and diamonds without dilution to its share structure (currently 1,775,035 shares outstanding). The company holds a 1.0-per-cent net smelter return royalty on the main Brookbank gold deposit and has a joint venture agreement with Equinox Gold (Greenstone Gold Mines) to explore the surrounding Brookbank gold properties, Thunder Bay mining district.