Mr. Rupert Williams reports

NORTH PEAK CLOSES SECOND AND FINAL TRANCHE OF PRIVATE PLACEMENT

North Peak Resources Ltd. has closed the second and final tranche of its previously announced non-brokered private placement.

The company issued 416,667 equity units at a price of 60 cents per unit for gross proceeds of $250,000 under tranche 2, bringing the total private placement to 9,031,666 units for aggregate gross proceeds of $5,418,999. For further information about the private placement and the earlier closing, please refer to the company's news release of April 21, 2025.

Each unit comprises one common share of the company and one-half of one common share purchase warrant of the company. Each whole warrant entitles the holder to acquire one common share for a period of 18 months from the date of issuance of the warrant (subject to acceleration), at an exercise price of 90 cents per share.

The warrants are subject to an acceleration provision, whereby, if the common shares trade at or above a volume-weighted average price of $1.50 for a period of 20 consecutive trading days, the company has the right to accelerate the expiry date of all or part of the outstanding warrants issued pursuant to the private placement to a date that is not less than 30 days from the notice of such acceleration that is provided by way of news release by the company.

The securities issued in connection with tranche 2 are subject to a four-month hold period, in accordance with applicable securities laws.

The company intends to use the proceeds from the private placement to continue to explore and develop its mining assets, the continued development of its business, and for general and administrative expenses.

Subject to the final review by the TSX Venture Exchange and in connection with tranche 2, the company has agreed to pay cash finders' fees (7 per cent) to Haywood Securities Inc. ($17,500.01) in respect of the aggregate sales to subscribers under tranche 2 that were introduced by them.

In addition, the company has agreed to issue finders' warrants (7 per cent) to Haywood Securities (warrants to purchase 29,167 common shares) in respect of the number of units sold by the company under tranche 2 that were introduced by them. These warrants are non-transferable, have an exercise price of 60 cents per share and will expire 18 months from the date of issuance.

About North Peak Resources Ltd.

The company is a Canadian-based gold exploration and development company that is listed on the TSX Venture Exchange under the symbol NPR. The company is focused on acquiring historic sites, with low-cost producing gold and other metals properties, with near-term production potential and eight-plus-year mine life in the northern hemisphere.

The company has acquired an initial 80-per-cent interest in the Prospect Mountain mine complex in Eureka in Nevada (see the company's May 4, 2023, May 23, 2023, and Aug. 25, 2023, news releases).

The company can give no assurances at this time that its properties and interests will fulfill the company's business development goals described herein. Trading in the securities of the company should be considered highly speculative.

We seek Safe Harbor.