Mr. Loren Currie reports

ORACLE TO ACQUIRE INTERESTS IN POLYMETALLIC COPPER-NICKEL- COBALT PROPERTIES IN NAMIBIA AND ANGOLA, SOUTHERN AFRICA

Oracle Energy Corp. has entered into an arm's-length share exchange agreement dated July 21, 2026, to acquire, for 12.8 million common shares, subject to TSX Venture Exchange approval, 100 per cent of the shares of Chalkos Copper Corp., a private company that has the right to acquire: (a) up to a 90-per-cent interest in a highly prospective copper-nickel-cobalt property in Namibia, the subject of an exclusive prospecting licence termed EPL 10173, and a 100-per-cent interest in two underlying mining claims within EPL 10173 boundaries (EPL 10173 and the mining claims collectively referred to as the Frampton property) covering 197 square kilometres located in the Kunene province of Namibia; and (b) up to a 75-per-cent interest in another prospective copper licence No. 043/07/06/T.P/ANG-MIREMPET/2023 designated Moxico Leste (the Sofricangol property) measuring 8,164 square kilometres located in the Moxico province of northeastern Angola within the vicinity and on trend with large copper deposits of western DRC (Democratic Republic of the Congo) and northwestern Zambia.

About the properties

The arm's-length private British Columbia company Chalkos has signed an arm's-length option agreement dated Aug. 21, 2025, with Frampton Investment CC regarding EPL 10173, located in Opuwo magisterial district, Kunene region, near the southwestern border of Angola and has entered into an arm's-length purchase agreement dated Jan. 7, 2026, with Frampton Investment CC for the mining claims. Chalkos separately signed a binding arm's-length joint venture preliminary agreement with Sofricangol LDA, dated Feb. 18, 2026, regarding licence No. 043/07/06/T.P/ANG-MIREMPET/2023, located in Lovua Zambeze municipality in the Moxico Leste province of Angola.

The Frampton property

The Frampton property is situated within the Kunene region of Namibia, a geologically significant region known for its high mineral potential. Since 2024, Anglo American Corp. obtained exploration rights over large parts of the Cunene province across the border in Angola. Located between the Zebra mountains in the east and the Baynes mountains in the west, the area including EPL 10173 lies within the approximately 1.3-billion-year-old Kunene anorthosite-troctolite metamorphic complex (Kunene complex), the largest such complex known in the world. The Kunene complex occurs in northern Namibia (approximately 10 per cent) and southern Angola (approximately 90 per cent). Key geological units include Mesoproterozoic basement rocks (leucogranites and metagabbros), Neoproterozoic dolomites and Quaternary surficial deposits. The Kunene complex is prospective for nickel due to analogies with the Nain plutonic suite of Labrador, which hosts the Voisey's Bay nickel-copper deposit. The complex was briefly targeted for nickel-copper exploration by Anglo American from 1998 until late 2003 and remains prospective for base metals (nickel/cobalt/copper), with mineralization controlled by shear zones.

Numerous copper-nickel showings have been identified on the Frampton property. A main showing strikes for two kilometres, displaying solid mineralization and parallel structures. An initial assay of a rock sample by vendor returned high-grade copper and cobalt. During the due diligence period, Chalkos resampled the northern pit showing, the small central pit and the southern showing, returning high-grade copper with nickel credits:

• Vendor assay rock sample PT74216-01: 12 per cent Cu and 0.15 per cent Co;
• Chalkos E0009252 rock sample: 5.68 per cent Cu;
• Chalkos E0009253 rock sample: 3.11 per cent Cu.

Namibia is serviced through a network of sealed highways connecting Opuwo (approximately 180 kilometres away) with Windhoek (capital city), in the central plateau region of Namibia, with the coast (port) at Walvis Bay. Generally unsealed (but well-maintained) access roads provide regional access throughout Namibia, including the Kunene region. Power is available through local extensions to an extensive regional electricity grid originating in South Africa.

The Sofricangol property

The Sofricangol property is located within the Moxico Leste province of northeastern Angola at the DRC-Zambia-Angola triborder, about 150 kilometres southwest of the Kamoa-Kakula copper mine complex in the DRC. The property is situated approximately 10 kilometres west of the main inferred Lufilian Arc Copperbelt trend coming into Angola and targets the Western Forelands copper play, one of the highest-grade sediment-hosted copper districts in the world and only partially explored. Foreland basins are large, elongated sedimentary basins that form adjacent to mountain belts due to the immense weight of the mountains causing the Earth's lithosphere to flex downward. The Western Forelands of the Lufilian Arc of the DRC-Zambia Copperbelt as confirmed Ivanhoe Mines Ltd.'s discoveries at Kamoa-Kakula, Makoko, Kitoko deposits consist of a thick sedimentary succession, strong seals and abundant redox fronts hosting copper mineralization. A similar geological model is construed to extend into the Moxico province of Angola, where all elements of a foreland sedimentary copper system are present. Within the Sofricangol licence, the geology includes highly faulted and fractured Precambrian gneiss rocks of the Grupo Superior Archean to Paleoproterozoic age (roughly 2.0 billion to 2.5 billion years old), these are overlain by the Mesoproterozoic (approximately 1.0 billion to 1.4 billion years old) Kibaran formation metasediments (shales, sandstones and quartzites), volcanics, and Grupo Kalahari sedimentary succession of red sandstones and shales. There is over 1,000 kilometres of mapped contact line between the basement rocks and the Grupo Kalahari and underlying Kibaran where it is present. The vendor has sampled many oxide copper showings throughout the large concession that have return high-grade assays. The main Lobito corridor railway transporting copper from Kamoa-Kakula to the port of Lobito on Angola's Atlantic coast passes near the property while the railway spur planned to link the Solwezi mining district to the main Lobito corridor will pass through the property. The company's immediate neighbours to the Sofricangol property are Ivanhoe Mines and Anglo American.

Terms of the underlying option agreements

Frampton property option and mining claims terms

Oracle has acquired, pursuant to the executed Frampton option agreement, the right to acquire an initial 75-per-cent interest in EPL 10173 (the initial Frampton option) by making cash payments totalling $150,000 (U.S.) over a two-year period, causing the issuance to Frampton of $150,000 (U.S.) of shares of Oracle over the same time period and completing exploration expenditures of $1-million (U.S.) over three years. Pursuant to the terms of the Frampton option agreement, it is contemplated that the rights of Chalkos will be acquired by a publicly listed company and, upon such acquisition, the parties will work diligently to enter into a definitive agreement, which is to supersede the Frampton option agreement. Terms of the initial Frampton option are summarized as follows:

• Pay to Frampton $25,000 (U.S.) as a deposit payment at end of evaluation period (which has been paid);
• Pay to Frampton a second payment of $25,000 (U.S.) at end of 60 days following signing of the definitive agreement;
• Pay to Frampton a third payment of $50,000 (U.S.) 12 months following the second payment;
• Pay to Frampton a fourth payment of $50,000 (U.S.) 12 months following the third payment;
• Cause to be issued to Frampton in addition to the payments referred to above, $150,000 (U.S.) worth of Oracle shares to be issued at a price equal to or the greater of five cents and the 10-day VWAP (volume-weighted average price) prior to issuance in accordance with the following schedule:
  1. $75,000 (U.S.) worth of Oracle shares along with the third payment;
  2. $75,000 (U.S.) worth of Oracle shares along with the fourth payment;
• Complete $1-million (U.S.) of exploration expenditures on EPL 10173 by Aug. 20, 2028.

In accordance with the terms of the Frampton option agreement, provided Oracle exercises the initial Frampton option, it shall have the right to earn an additional 15-per-cent interest in EPL 10173 (the second Frampton option) to bring its interest to a 90-per-cent interest in EPL 10173 by expending such additional expenditures necessary to produce a feasibility study for EPL 1017 and pay to Frampton the following:

1. $7-million (U.S.) if independent JORC (Joint Ore Reserves Committee) or National Instrument 43-101 mineral resource evaluation prior to publication of a feasibility study confirms a deposit with reserves measuring 50 million metric tonnes and grading on average 2 per cent Cu;
2. A price to be negotiated between Frampton and Privco in the event that the reserves of a deposit demonstrate a size and grade greater than 50 metric tonnes at 2 per cent Cu.

Upon Oracle exercising the initial Frampton option but failing to exercise the second Frampton option, Oracle and Frampton will enter into a joint venture relationship with Oracle having a 75-per-cent joint venture interest and Frampton having a 25-per-cent joint venture interest; or, in the event that Oracle exercises the second Frampton option, the parties will enter into a joint venture agreement with Oracle having a 90-per-cent joint venture interest and Frampton having a 10-per-cent joint venture interest. Oracle shall, as the case may be, have a right of first refusal to purchase the residual 25-per-cent interest or the 10-per-cent residual interest held by Frampton.

Pursuant to an agreement between Frampton and Chalkos dated Jan. 7, 2026, Frampton, as trustee for Chalkos, has acquired 100 per cent of the rights to mining claims 74211 and 74216 from an Angolan individual for consideration of $50,000 (U.S.), of which $25,000 (U.S.) has been paid. Each of the 17.43-hectare mining claims, which have terms until Sept. 30, 2027, is within the boundary of EPL 10173 and the trust agreement with Frampton has been entered into because of the need for mining claims in Angola to be held by an Angolan entity.

Sofricangol property joint venture terms

Chalkos has acquired, pursuant to the binding preliminary Sofricangol joint venture agreement, which is to be superseded by good-faith negotiations for a final definitive agreement, the right to acquire up to an initial 65-per-cent interest in the Sofricangol property under the following terms:

• Pay to Sofricangol $300,000 (U.S.) as reimbursement of previous Sofricangol project costs as follows:
  • Pay to Sofricangol up to $300,000 (U.S.) as reimbursement costs based on a schedule to be agreed and included in the definitive joint venture agreement;
  • Any refund amounts above beyond $300,000 (U.S.) will only be reimbursed after a commercial mineral deposit is confirmed on the property;
  • Expend $5-million (U.S.) during the initial five years of the joint venture; if Chalkos spends less than $5-million (U.S.) during the initial five-year period, its interest shall be prorated against the 65-per-cent interest.

Upon Chalkos earning its interest, the parties will form a joint venture relationship for the further development of the Sofricangol property, and, provided Chalkos exercises its right to earn the full initial interest of 65 per cent under the Sofricangol joint venture agreement, it shall have the right to earn an additional 10-per-cent interest in the Sofricangol property to bring its interest to a 75-per-cent interest in the Sofricangol property by expending sufficient funds to produce a feasibility study and paying to Sofricangol $7-million (U.S.), regardless of size and grade of resources so discovered on the property. Any funds expended by Chalkos in excess of that required to produce a feasibility study shall be reimbursed after commercial production.

No shares are due for issuance under the Sofricangol joint venture agreement.

Upon Oracle acquiring the initial interest but failing to exercise the second-phase acquisition, Oracle and Sofricangol will enter into a joint venture relationship with Oracle having a 65-per-cent joint venture interest and Sofricangol having a 35-per-cent joint venture interest; or, in the event that Oracle exercises the second-phase option, the parties will enter into a joint venture agreement with Oracle having a 75-per-cent joint venture interest and Sofricangol having a 25-per-cent joint venture interest. Oracle will be operator and will be responsible for financing all work programs and budgets. Oracle shall, as the case may be, have a right of first refusal to purchase the residual 35-per-cent interest or the 25-per-cent residual interest held by Sofricangol.

Pursuant to an arm's-length consulting agreement dated Feb. 20, 2026, between Chalkos and White Sands Investments CC in consideration of White Sands having arranged the introduction of Sofricangol to Chalkos, White Sands is to be paid, subject to regulatory approval, a fee of $50,000 (U.S.), payable as to cash of $25,000 (U.S.) and $25,000 (U.S.) worth of shares of Oracle, such fee to be issued in accordance with applicable regulatory policies and to be issued in conjunction with and consistent with the timing that the reimbursement costs are made to Sofricangol.

Management believes the acquisition of Chalkos with its underlying rights to acquire property interests from Frampton and Sofricangol represents a significant milestone for the company. These acquisitions reposition the company as a mineral exploration and development company with a deep pipeline of acquisitions in southern Africa. The consideration to be paid by Oracle for the acquisition of Chalkos reflects management's view of the value that the assets of Chalkos based on market conditions and price paid on similar copper exploration properties in the region by peer-group companies, at same stage of exploration, and global strategic value of commodities under consideration. Management views the consideration being paid for Chalkos as being fair based on technical due diligence on the Chalkos assets since they were acquired by Chalkos, which has assisted in derisking the exploration potential of the various properties by having demonstrated the presence of mineral showings that have returned high-grade copper and nickel credits.

Oracle Energy chief executive officer Loren Currie stated: "These copper exploration assets are located in compelling exploration districts and hold the promise for potential world-class discoveries. Holding a top position next to Anglo-American and Ivanhoe Mines Ltd. in the hotly contested and sought-after Western Forelands district is a significant accomplishment for a company our size. On the global stage, copper demand is growing at more than 4.5-per-cent CAGR [compound annual growth rate] and will reach a market size over $360-billion (U.S.) by 2030. We foresee huge challenges to meet copper demand in the medium to long term, which will drive copper prices up and render any copper resources such as those that we hope to discover on EPL 10173 and the Moxico Leste project significantly valuable."

Qualified person

Nico Scholtz is an independent consulting geologist and has reviewed and approved the scientific and technical information in this news release. Mr. Scholtz is a registered professional natural scientist with the South African Council for Natural Scientific Professions (PrSciNat No. 400299/07). Mr. Scholtz is the company's qualified person as defined by NI 43-101.

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