Mr. Dwayne Yaretz reports

MUZHU CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT

Muzhu Mining Ltd. has closed on its first tranche of the private placement announced on April 28, 2025, for gross proceeds of $84,000 from the sale of 840,000 units at 10 cents per unit. Each unit comprises one common share of the company and one non-transferable share purchase warrant. Each whole warrant entitles the holder to purchase one share at a price of 14 cents per warrant for the first year and 20 cents per warrant for the second year, subject to the following acceleration provision: if the closing price for the common shares of the company as traded on the Canadian Securities Exchange is equal to or greater than 30 cents per common share for any 20 consecutive trading days occurring any time after the expiry of the four-month hold period, then the subscriber shall have until 4 p.m. (Vancouver, B.C., time) of the 30th calendar day after the company's news release announcement of the occurrence of the threshold period to exercise the share purchase warrants. The share purchase warrants shall expire on the earlier of the last day of the two-year exercise term or the accelerated expiry date. The issuer shall issue no other notice other than such news release .

All of the securities distributed under the foregoing private placement are subject to a four-month hold period, which will expire on Oct. 4, 2025.

This meets the company's targeted financing requirements to be used for working capital and Canadian and Chinese mineral exploration projects.

About Muzhu Mining Ltd.

Muzhu Mining is a Canadian publicly traded exploration company with a portfolio of highly prospective projects at various stages of development. Muzhu currently holds 100-per-cent interest in the Sleeping Giant South project, located in the Abitibi greenstone belt, approximately 75 kilometres south of Matagami, Que. As well, Muzhu has executed two option agreements to acquire up to 80 per cent of the silver, zinc, lead XWG and LMM properties, and is currently pursuing an exploration agreement at the WLG mine, all located in the Henan province, China.