Mr. Donald Moore reports

PLAYFAIR MINING LTD. ANNOUNCES SHARE CONSOLIDATION

Further to its news release dated Jan. 28, 2026, the TSX Venture Exchange has approved the consolidation of Playfair Mining Ltd.'s issued and outstanding common shares on the basis of one new share for every three old shares.

The consolidation will become effective on the TSX-V at the opening of market on Feb. 27, 2026. The new Cusip number and ISIN (international securities identification number) of the company will be 72811X303 and CA72811X3031, respectively. The company's name and stock symbol shall remain the same.

Currently, a total of 141,347,160 common shares are issued and outstanding. Following the consolidation, a total of 47,115,720 shares will be issued and outstanding. No fractional shares will be issued as a result of the consolidation.

Computershare will mail out a letter of transmittal to the shareholders of the company providing instructions on exchanging preconsolidation share certificates for postconsolidation share certificates. Shareholders are encouraged to send their share certificates, together with their letter of transmittal, to Computershare in accordance with the instructions in the letter of transmittal.

It is expected that the private placement offering for gross proceeds of $2.4-million announced Jan. 28, Jan. 30 and Feb. 4, 2026, will close on or around March 9, 2026. The private placement consists of up to 40,000 units (postconsolidation) at a price of six cents per unit (postconsolidation price), with each unit comprising one common share and one common share purchase warrant; the warrants issuable as part of the units shall be exercisable at a price of 15 cents (on a postconsolidation basis) for a period of two years from the date of issuance.

About Playfair Mining Ltd.

Playfair is a Canadian-based resource company currently active at its Golden Circle project, a 76.47-square-kilometre area covering eight historic gold districts in Nova Scotia.

We seek Safe Harbor.