Mr. Douglas Mason reports

MAGNUM GOLDCORP INC. CLOSES NON-BROKERED PRIVATE PLACEMENT

Further to Magnum Goldcorp Inc.'s news release of May 22, 2025, the company has now closed its private placement. The company has raised a total of $150,000 through the issuance of three million units at five cents per unit. Each unit consists of one common share and one share purchase warrant, with each warrant entitling the holder to purchase an additional common share for a period of two years at an exercise price of 20 cents. No finders' fees were paid in connection with the private placement.

The company intends to use the proceeds from this private placement for general working capital purposes.

Certain insiders of the company purchased an aggregate of 200,000 units under the private placement, constituting, to that extent, a related party transaction within the meaning of exchange Policy 5.9 and Multilateral Instrument 61-101. The company has relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 (and Policy 5.9) contained in sections 5.5(b) and 5.7(1)(b) of MI 61-101 in respect of such insider participation. The company did not file a material change report more than 21 days before the expected closing of the private placements, as the details and amounts of the insider participation were not finalized until closer to the closing and the company wished to close the transaction as soon as practicable for sound business reasons.

We seek Safe Harbor.