Mr. Garth Johnson reports

PULSE OIL CORP. ANNOUNCES FACILITY AGREEMENTS TOTALING $2,250,000

Pulse Oil Corp. has entered into two loan facility agreements with related parties to the company (the lenders), whereby the lenders have agreed to loan to the company, in aggregate, the sum of $2.25-million.

Pursuant to the facility agreements, the loans will be made available in tranches of $1,125,000 primarily to finance the Bigoray EOR project's solvent injection program. The facility agreements provide that the principal bears interest at the rate of 15 per cent per annum, compounded monthly, with fixed partial interest payments being made on a quarterly basis starting on Sept. 30, 2025, in the amount of $10,000 with the remaining interest and principal being repayable on the earlier of June 4, 2027.

In conjunction with the facility agreements, Pulse has entered into a general security agreement with the lenders whereby Pulse grants, assigns, mortgages, pledges, charges and grants a security interest to, and in favour of the lenders in the undertaking of the company and in all present and after acquired property of Pulse and its 100-per-cent-owned subsidiary, Pulse Oil Operating Corp., until such time as all obligations owed to the lenders have been satisfied.

In connection with the loans, Pulse will pay an establishment fee to the lenders in the amount of $112,500, being 5 per cent of the amount of each facility, to be added to the principal and bearing interest at the interest rate.

The company intends to use the net proceeds of the loan to purchase solvent for injection at Pulse's 100-per-cent-owned Bigoray enhanced oil recovery project (the EOR project), with injection expected to start in Q2 of 2025.

The loans constitute a related party transaction as that term is defined in Multilateral Instrument 61-101 -- Protection of Minority Shareholders in Special Transactions (MI 61-101). The company is relying on an exemption from the minority approval requirement of MI 61-101 pursuant to Section 5.7(1)(e) thereof on the basis that the company is in serious financial difficulty and the loans are intended to improve its financial position, and that, in addition to confirming the foregoing, the company's independent directors have determined that the terms of the loans are reasonable in the circumstances of the company.

It is likely that the company will not file a material change report at least 21 days before the advance of the principal under the loan as it is necessary for the company to receive the principal as soon as practicable in order to advance the critical solvent injection phase of the company's Bigoray EOR project.

The payment of the fee may be subject to the acceptance of the TSX Venture Exchange.

Pulse Oil Corp. chief executive officer, Garth Johnson, commented: "This funding allows us to advance the critical solvent injection phase of our Bigoray EOR project. Currently, solvent prices are low, even when compared to just a few months ago and it's good timing to be able to take advantages of these lower prices. Pulse's team will work hard to acquire and inject as much solvent as possible when prices are low and we can slow down injection rates at times of higher prices to maximize the effectiveness of our cash and cash flow. The Nisku D and E pools have already produced nine million barrels of sweet light crude oil on primary and water flood production. Analog pools surrounding Pulse's D and E pools which have implemented EOR solvent injection, have all enjoyed significant further oil production from these prolific pools. Our small-scale pilot project of solvent injection into the Bigoray D pool provided us evidence that solvent sweep would advance rapidly through our pools. We are now excited about a strong 2025 fiscal year, this is the stage we've been waiting for."

About Pulse Oil Corp.

Pulse is a Canadian company incorporated under the Business Corporations Act (Alberta) that is primarily focused on a 100-per-cent working interest in the EOR project located in west-central Alberta, Canada. The project includes two established Nisku pinnacle reef reservoirs that have been producing sweet light crude oil for over 40 years.

The company has instituted a proven recovery methodology (NGL (natural gas liquid) solvent injection) to further enhance the ultimate oil recovery from these two proven pools. With under 10 million barrels of oil recovered to date, and representing approximately 30-per-cent recovery factor from the pools, Pulse is moving forward to execute the EOR project and unlock significant value for shareholders. Pulse's total reclamation liabilities are just $3.1-million which, when compared with many peers in the industry in Western Canada, are very low.

We seek Safe Harbor.