Mr. Stephen Stewart reports

MISTANGO TO ISSUE SHARES AND OPTION GRANT

Mistango River Resources Inc. will issue 50,000 shares and 50,000 share purchase warrants in conjunction with an exploration agreement dated Aug. 29, 2024, between the company and a local partner. Each share purchase warrant is exercisable to acquire one common share in the capital of the company at an exercise price of five cents per warrant for a period of 24 months from the date of the agreement.

Under applicable securities laws in Canada, all securities issued in connection with the offering are subject to a four-month-and-one-day hold period from the date of issuance. This issuance is subject to receipt of necessary approvals, including the approval of the Canadian Securities Exchange.

Stock option grant

The company is pleased to announce that the board of directors has approved the grant of stock options to certain directors, officers and consultants of the company, allowing for the acquisition of up to, in the aggregate, 2.4 million shares of the company. The company granted 2,025,000 stock options to certain directors and officers of Mistango. The options are exercisable at a price of five cents per share for five years from the date of grant, vest one year from the date of grant, and are subject to regulatory policies and approvals.

The grant of options to certain directors and officers is a related party transaction under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party matters as the company is listed on the Canadian Securities Exchange and neither the fair market value (as determined under MI 61-101) of the subject matter of nor the fair market value of the consideration for the transaction, insofar as it involves the related parties, exceeded 25 per cent of the company's market capitalization (as determined under MI 61-101).

We seek Safe Harbor.