(via TheNewswire)

Toronto, Ontario – TheNewswire – November 09 , 2026 – Loyalist Exploration Limited (CSE:PNGC) (“Loyalist” or the “Company”) is pleased to announce that , further to its press releases dated April 9, 2025, July 8, 2025 and September 26, 2025, it is issuing 13,400,000 common shares of the Company (the “Milestone Shares”) to Fulcrum Metals (Canada) Ltd. (“Fulcrum”), a subsidiary of Fulcrum Metals Plc, in satisfaction of a milestone payment under the property purchase agreement dated October 2, 2025 between the Company and Fulcrum (as amended, the “Purchase Agreement”) in respect of the Tully Gold Project (the “Tully Property”), located approximately 25 km northeast of Timmins, Ontario.

Milestone Payment

Under the Purchase Agreement, the Company agreed to issue 15,000,000 common shares to Fulcrum (of which, 1,600,000 shall be issued at a later date (the “Deferred Shares”) upon the filing of a technical report on the Tully Property in which the gold resource is re-evaluated (or restated) to a National Instrument 43‑101 standard and the total gold resource exceeds 200,000 ounces. This milestone was achieved upon the filing of a technical report on the Tully Property under the Company’s profile on SEDAR+ on August 21, 2026. The Milestone Shares are subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable securities laws.

Ryan Mee, Chief Executive Officer of Fulcrum Metals plc , commented: “We’re pleased to increase our shareholding in Loyalist through this agreement. Achieving the resource milestone is an important step for Tully. Fulcrum remains a supportive shareholder, and we look forward to seeing the Loyalist team build on that progress as it advances the project.”

Errol Farr, Chief Executive Officer of Loyalist commented: “ We’re pleased to have achieved this important resource milestone on the Tully Gold Project and to issue the corresponding Milestone Shares to Fulcrum. The updated NI 43-101 technical report confirmed a total gold resource exceeding 200,000 ounces and further validates the work completed to date. We value Fulcrum’s continued support as a significant shareholder and look forward to systematically advancing Tully while continuing to grow the deposit.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) have reviewed or accept responsibility for the adequacy or accuracy of this release.

About Loyalist Exploration Limited

Loyalist is a Canadian mineral exploration and development company focused on creating long-term shareholder value through the advancement of high-quality mineral projects in Timmins, Ontario. The Company's flagship 100%-owned Tully Gold Project, located in the prolific Timmins Gold Camp of northeastern Ontario, is a growing underground gold project with significant exploration upside and excellent development potential. Supported by a high-confidence Indicated and Inferred Mineral Resource Estimate, favourable infrastructure, and a modern geological model, Tully provides a strong platform for continued development and expansion. Loyalist's strategy is to systematically advance the Tully Gold Project to production while growing the deposit and continuing to evaluate opportunities to expand its portfolio of high-quality mineral assets. The Company also looks forward to advancing exploration activities on its three other Timmins based projects – DeSantis, Gold Rush and Loveland. The Company is committed to maintaining the highest standards of technical excellence and responsible development throughout all stages of project advancement.

For further information please visit the Company's website at loyalistexp.ca or contact:

Loyalist Exploration Limited

Errol Farr, President and CEO

Email: efarr@loyalistexploration.com

Tel: 647-296-1270

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) have reviewed or accept responsibility for the adequacy or accuracy of this release.

This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward-looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee" or similar words suggesting future outcomes or statements regarding an outlook and include statements regarding the issuance of the Milestone Shares and the Deferred Shares, the timing thereof, the receipt of any shareholder or CSE approvals, and the proposed work on the Tully Property . Factors that could cause actual results to differ materially from such forward ‐ looking information include, but are not limited to , the Company’s inability to issue the Deferred Shares on the timelines anticipated or at all, the inability to obtain any required shareholder or regulatory approvals , failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, capital market conditions, restriction on labour and international travel and supply chains, and those risks set out in the Company’s public documents filed on SEDAR+. Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Company’s securities should not place undue reliance on forward-looking statements because the Company can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information and statements except as required by law.

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