Mr. Ryan Kalt reports

RED LAKE GOLD INC. REPORTS SUBMISSION OF MATERIAL LICENSE APPLICATIONS IN SASKATCHEWAN

Red Lake Gold Inc. has filed certain mining disposition applications with the government of Saskatchewan that seek the exclusive exploration rights of particular areas of Northern Saskatchewan. The licence applications correspond to approximately 83,832 hectares (approximately 207,064 acres) and are primarily situated within a contiguous grouping. Subject to Crown approval of the licence applications, the issuer considers the area underlying the licence applications to have forward-moving materiality.

Crown filing of the licence applications was preceded by recent evaluations by the issuer of the associated area, the assessment of market factors and the examination of regional developments, which collectively affirmed a submission at this time to, among other reasons, position the issuer with regional exposure in advance of potential results from activity in the broader area (see, as example, Ramp Metals Inc. news release dated June 6, 2025). The licence applications, as indirectly filed, were also submitted to the Crown at this time to predate any alternative party that might be evaluating the same area and/or others who may prefile application for portions of the area now wholistically sought by way of the licence applications.

Although disposition applications in Saskatchewan are made public through the Saskatchewan government's registry (MARS), the issuer is making today's announcement through this news release, without limitation, to ensure full and fair disclosure of the same to the broader market, including those not familiar with the aforementioned public registry.

As is customary, the licence applications remain subject to approval by the Crown. If Crown approved, and then subject to the availability and sourcing of market-based capital for the same, the issuer anticipates that its forward plans may focus upon and prioritize the licence applications.

Subject to first receiving Crown approval for the licence applications, the issuer then looks forward to providing further details, including technical information, as pertains to the area underlain by the licence applications. The issuer is optimistic that the licence applications may facilitate an important new area of exploration focus for the issuer that improves upon and helps to address the critical matters disclosed in its recent news release (see news release, Red Lake Gold, "Discontinues Financing, Provides Corporate Update," dated June 27, 2025).

Filing fees of approximately $50,299 were remitted to the Crown in conjunction with the licence applications (which were financed through material use of the corporation's working capital). Said filing fees are refundable, in whole or in part, should the Crown reject or modify the licence applications, in whole or in part.

We seek Safe Harbor.