Mr. Dwayne Yaretz reports

MUZHU COMPLETES PRIVATE PLACEMENT

Muzhu Mining Ltd. has completed its private placement announced on Sept. 10, 2025, for gross proceeds of $175,000 from the sale of 1.75 million flow-through units at a price of 10 cents per unit. Each flow-through unit consists of one flow-through common share and one common share purchase warrant entitling its holder to purchase one common share at 14 cents for a period of three years from the date of issuance. The proceeds from the financing will be used for exploration purposes.

Fourteen thousand dollars in cash were paid by the company with the grant of 140,000 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 Jan. 18, 2026.

Proceeds will be used for Canadian mineral exploration projects.

Muzhu 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.