Mr. Red Lake, a shareholder, reports

EARLY WARNING NEWS RELEASE

Ryan Kalt has divested certain securities of Red Lake Gold Inc., on an indirect basis, as represented by the sale of 1,926,000 common shares, during the inclusive period of Feb. 24, 2026, to Feb. 25, 2026. Within said sale period, a subtotal of 1,026,000 common shares were sold today, resulting in the herein referenced Form 62-103F1 and this related news release.

In the direct and indirect aggregate, the acquiror now owns and controls 21,430,500 common shares of the issuer, representing approximately 42.40 per cent of the issuer's issued common shares, alongside certain other convertible instruments (being common share warrants and common share stock options), all of the same being further described and hereby referenced through the Form 62-103F1 filed today (on SEDAR+) involving this disclosure.

The divested securities represent 3.81 per cent of the outstanding common shares of the issuer (based on the issuer having 50,539,169 common shares issued as at the date hereof).

The divested securities were sold in the sale period through open-market facilities of the Canadian Securities Exchange or other broker-routed market, at an approximate average sale price of two cents per common share.

The acquiror may sell securities of the issuer either on the open market or through private dispositions in the future or may acquire securities of the issuer either on the open market or through private acquisitions in the future depending upon market conditions, the acquiror's investment objectives and/or other relevant factors. Other than the foregoing and/or as publicly filed, the acquiror does not have plans or any future intentions which relate to or would result in any of the other foregoing matters.

The Form 62-103F1 (Required Disclosure under the Early Warning Requirements) associated with this news release can be obtained from SEDAR+. In the alternative, to obtain a copy of the report, please contact Mr. Kalt at 1-403-454-2984.