Dr. Vern Rampton reports

MAYO LAKE SHARE CONSOLIDATION AND LIFE OFFERING CLOSING DATES EXTENDED

Further to Mayo Lake Minerals Inc.'s press release of Aug. 5, 2026, due to the complex nature of certain logistical issues, the company will be required to extend the concurrent closing date of its previously announced one-for-three share consolidation and $1.89-million listed issuer financing exemption (LIFE) from Aug. 14, 2026, to on or about Aug. 28, 2026.

The LIFE offering consists of both common share units at a price of eight cents per unit and flow-through units at a price of 10.5 cents per flow-through unit, for aggregate gross proceeds of up to $1.89-million. All prices are stated on a postconsolidation basis.

The company will obtain a new Cusip and ISIN in relation to the consolidation which will be subject to the approval of the Canadian Securities Exchange.

The company intends to use the net proceeds of the LIFE to advance exploration on its gold and silver properties in the Mayo-Keno region of Yukon's Tombstone gold belt, as well as for working capital and general corporate purposes, as more fully described in the company's offering document that can be accessed under the company's profile on SEDAR+ and on the company's website. Prospective investors should read the offering document before making an investment decision.

About Mayo Lake Minerals Inc.

Mayo is actively engaged in the exploration, discovery and development of three precious metal properties covering 145.6 square kilometres in the Mayo-Keno area of the Mayo mining district. All properties lie within the traditional territory of the Na-Cho Nyak Dun First Nation.

The company's flagship 86-square-kilometre Anderson-Davidson project is located within the Tombstone gold belt, one of Canada's most active districts for reduced intrusion-related gold systems (RIRGS), where neighbouring companies continue to report significant exploration success. Mayo also owns the 44-square-kilometre Carlin-Roop silver property and the diversified Edmonton property, all strategically located in one of Canada's premier mineral exploration regions.

We seek Safe Harbor.