Mr. Dwayne Yaretz reports

MUZHU COMPLETES PRIVATE PLACEMENT

Muzhu Mining Ltd. has completed its private placement announced on Aug. 8, 2025, for gross proceeds of $154,239 from the sale of 1,542,390 units at a price of 10 cents per unit. The company increased its private placement from 1,259,000 units at 10 cents per unit to 1,542,390 units as a result of subsequent subscriptions. Each unit is composed of one common share of the company and one non-transferable share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of 14 cents per share for the first year and 20 cents per common share 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.

An insider of the company participated in the foregoing offering constitutes a related-party transaction as defined under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). Such participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities acquired by the insiders, nor the consideration for the securities paid by such insiders exceeds 25 per cent of the company's market capitalization. The insider has subscribed for an aggregate of 149,000 common shares.

Two thousand four hundred dollars in cash paid by the company included the grant of 24,000 share purchase warrants to a finder with respect to the private placement. All of the securities distributed under the foregoing private placement are subject to a four-month hold period, which will expire on Dec. 26, 2025. Proceeds will be used for working capital and Canadian and Chinese mineral exploration projects.

Muzhu Mining is a Canadian publicly traded exploration company with a portfolio of highly prospective projects at various stages of development. Muzhu currently holds a 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.