This press release is issued pursuant to Multilateral Instrument 62-104 - Take-Over Bids and Issuer Bids and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.

Calgary, Alberta--(Newsfile Corp. - July 31, 2026) - Mr. Ryan Kalt (the "Acquiror") reports a voluntary forfeiture of securities of Red Lake Gold Inc. (the "Issuer") today, July 31, 2026, to the Issuer (the "Forfeiture") involving 14,200,00 common share purchase warrants (the "Forfeited Warrants"), directly and indirectly, and 350,000 stock options (the "Forfeited Options"), directly, (the Forfeited Warrants and Forfeited Options being together, the "Forfeited Securities").

The Forfeited Securities represent a reporting change that triggers an Early Warning Report (Form 62-103F1) posted to SEDAR+ (referenced hereby) and this associated news release.

There was no public distribution, nor was any consideration paid or received with respect to the Forfeited Securities, all of which were surrendered to the Issuer's treasury with the Issuer announcing a subsequent cancellation of the same.

Before the Forfeiture, the Acquiror owned 14,200,000 common share purchase warrants, directly and indirectly, and 350,000 stock options, directly, being a 22.35% diluted holding (if then altogether exercised).

After the Forfeiture, the Acquiror owns nil securities of the Issuer, representing nil percent of the Issuer's outstanding securities.

The securities of the Issuer forfeited by the Acquiror were forfeited on a voluntary basis with no consideration. Following the forfeiture, the Acquiror does not own any classes of securities of the Issuer. Depending upon market conditions, the Acquiror's investment objectives and/or other relevant factors, the Acquiror may acquire securities of the Issuer in the future either through the open market or through private transactions. Other than the foregoing, the Acquiror does not have plans or any future intentions which relate to or would result in any of the other foregoing matters.

"Ryan Kalt"

Ryan Kalt

The Canadian Securities Exchange (CSE) has not reviewed, approved or disapproved of the contents of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/307594