Mr. Peter Shippen reports

PARAGON ADVANCED LABS INC. ANNOUNCES LISTING AND PROVIDES OPERATIONAL UPDATE

Paragon Advanced Labs Inc.'s common shares have commenced trading on the TSX Venture Exchange under the company's name, Paragon Advanced Labs, and the ticker symbol PALS.

Paragon was founded to help alleviate the historical bottlenecks in mining assays and has embraced new technology to provide its clients with data-driven insights in their mining testing. Paragon has been an early mover in North America in deploying PhotonAssay, a faster, safer and more accurate gold testing technology.

Recently, a key customer of Paragon, McEwen Inc., made a strategic investment in the company by acquiring approximately 27 per cent of the business, becoming Paragon's largest shareholder.

In its news release dated Nov. 3, 2025, McEwen commented on Paragon's strategic positioning, stating, "PhotonAssay [is] a technology that McEwen believes is poised to become the new industry standard for assaying precious and base metals, with Paragon aiming to be one of the world's leading service providers."

This listing on the TSX-V marks an important milestone in Paragon's corporate development and provides the company with enhanced visibility among mining clients and investors and improved access to the public capital markets that will support its growth strategy and continuing operations.

PhotonAssay is a non-destructive, high-throughput gold analysis technology that is seen as a replacement to traditional fire assays, significantly reducing turnaround times while providing important environmental and social benefits.

The company plans to deploy an additional nine PhotonAssay units worldwide. Paragon currently operates three PhotonAssay units across its lab network, as well as offering fire assay and geochemical analyses.

Paragon Geochemical operates labs in the following areas:

• Sparks (Reno), Nev.;
• Hamilton, Ont.;
• Surrey, B.C.

Additional PhotonAssay deployments are planned as Paragon continues to expand its laboratory footprint and capacity in key mining jurisdictions.

"We thank all of our stakeholders, partners and clients for being part of this amazing journey. We appreciate your partnership and look forward to continuing to support some incredibly exciting exploration, development and mining operations," stated Peter Shippen, chief executive officer of Paragon.

About Paragon Advanced Labs Inc.

Paragon Advanced Labs provides innovative analytical technologies to the global mining industry. By embracing new technology, the company is addressing critical capacity bottlenecks in mineral assaying through the deployment of PhotonAssay technology and complementary analytical solutions. The company delivers faster, more accurate and cost-effective mineral analysis for mining operators worldwide.

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