Dr. Rob Carpenter reports

PROSPECTOR METALS AND LIGHTNING RESOURCE ANNOUNCE TIMELINE FOR CLOSING TRANSACTION

Prospector Metals Corp. and Lightning Resource Corp. (formerly BeMetals Corp.) have set a proposed closing timeline for the transaction previously announced in each of the companies' news releases dated April 16, May 20 and July 31, 2026, pursuant to which Lightning will acquire all of Prospector's remaining non-Yukon assets comprised of (i) the mineral titles and permits for the Savant, TooGood, Whitton and Devon projects; (ii) 5,367,000 common shares of TooGood Gold Corp.; (iii) Prospector's proprietary geological database; and (iv) $150,000 in cash, in consideration for the issuance of 29.4 million common shares of Lightning to Prospector. Following closing, in accordance with an Order of the Supreme Court of British Columbia, Prospector will distribute the consideration shares to the holders of its common shares as a one-time special distribution as a return of capital on the basis of 0.174977 of a consideration share for each common share of Prospector held (the payment ratio). No fractional consideration shares will be distributed and all fractional consideration shares will be rounded down to the nearest whole consideration share with no consideration being provided for the fractional consideration share.

The companies are pleased to announce all conditions to the closing of the transaction, other than the final approval of the TSX Venture Exchange, and conditions to be satisfied as part of the closing of the transaction itself. As a result, the parties have set premarket on Sept. 2, 2026, as the closing date for the transaction and market close on Sept. 4, 2026, as the record date for the return of capital. Prospector's common shares will commence trading on an ex-distribution basis at market open on the record date. The distribution of the consideration shares to Prospector's common share holders, or the payable date will be completed effective Sept. 10, 2026.

In order to maintain the payment ratio, any exercises of outstanding stock options or warrants will not be processed before the record date.

In connection with the closing of the transaction, the eight million subscription receipts previously issued in connection with the closing of the subscription receipt offering completed by Prospector's wholly owned subsidiary Lightning Subreceipt Financing Corp. (Finco) will automatically be converted, and exchanged for an aggregate of eight million common shares of Lightning and share purchase warrants exercisable to acquire an aggregate of four million common shares of Lightning at a price of 62 cents until Sept. 2, 2027, subject to acceleration, upon closing of the transaction. As previously disclosed, the gross proceeds of the offering are currently held in escrow pending satisfaction of certain escrow release conditions on or before the escrow deadline which had previously been extended to Aug. 31, 2026. In connection with setting the closing date and record date, Prospector, Lightning and Finco have entered into an amended escrow deadline extension agreement pursuant to which the escrow deadline has been extended to Sept. 5, 2026.

About Prospector Metals Corp.

Prospector Metals is a proud member of Discovery Group. Prospector is focused on district-scale, early stage exploration of gold and base metal prospects. Creating shareholder value through new discoveries, Prospector identifies underexplored or overlooked mineral districts displaying important structural and mineralogical occurrences similar to more established mining operations. The majority of acquisition activity occurs in Yukon and Ontario, Canada -- historical mining jurisdictions with an abundance of overlooked geological regions possessing high mineral potential. Prospector is currently concentrating its efforts on its ML project in Yukon where it has discovered a high-grade gold-copper-silver zone (see news release dated Oct. 1, 2025). Prospector establishes and maintains relationships with local and indigenous rightsholders and seeks to develop partnerships and agreements that are mutually beneficial to all interested parties.

About Lightning Resource Corp.

Lightning Resource (formerly BeMetals Corp.) is a Canadian, precious and base metals exploration company focused on advancing its portfolio of high-potential mineral projects, while continuing to evaluate additional acquisition opportunities. The company's immediate focus is exploration of the Savant gold project with district-scale potential to host both iron formation-hosted and shear-hosted gold systems of size. This is a proven mining region with current operations including the Red Lake and Musselwhite mines. The company also holds interest in copper and gold exploration projects located in Zambia and Japan, respectively. Lightning is led by an experienced team and is supported by a strategic shareholder, B2Gold with approximately 37-per-cent current ownership interest.

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