Mr. Errol Farr reports

LOYALIST EXPLORATION LIMITED ANNOUNCES AMENDMENTS TO ITS PROPOSED PRIVATE PLACEMENT

Loyalist Exploration Ltd. has amended its proposed non-brokered private placement financing of up to 15 million common shares of the company at a price of one cent per share for proceeds of up to $150,000 (see press release dated April 12, 2024). The offering is amended to lower the price per share to 0.5 cent and increase the number of shares to 30 million. The Canadian Securities Exchange (CSE) has exempted the company from pricing requirements in the CSE policy. This exemption has been authorized on a one-time-only basis, and the offering will not be extended. The proceeds of the offering will be used for working capital, and general and administrative purposes.

In connection with the offering, the company may pay finder's fees equal to 7 per cent of the gross proceeds in cash and issue non-transferable warrants to various registered dealers or finders, equal to 7 per cent of the shares sold through such registered dealers or finders in the offering. Each finder warrant will entitle the holder thereof to purchase one Loyalist common share at a price of five cents per share for a period of 36 months from the closing date of the offering.

The private placement will be conducted in reliance upon certain exemptions from the prospectus requirements set out in National Instrument 45-106.

The shares issued in connection with the private placement are subject to a hold period expiring four months and one day from the issuance of the securities comprising the offering.

About Loyalist Exploration Ltd.

Loyalist Exploration is a mineral exploration company focused on acquiring, exploring and developing quality mineral properties in Canada.

We seek Safe Harbor.