Mr. Michael Schuss reports

RED LAKE GOLD INC. CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT

Red Lake Gold Inc. has closed the first tranche of the previously announced non-brokered private placement by way of the issuance of 3,609,998 common shares, at a price of 7.5 cents per common share, for gross proceeds of $270,749.85. The offering was completed on the terms previously announced by the corporation in its news release dated Aug. 31, 2026, titled "Red Lake Gold Inc. Announces Private Placement."

The corporation paid aggregate cash finders' fees of $6,789.99 in connection with the offering.

The corporation intends to use the net proceeds of the offering for general working capital, the satisfaction of continuing corporate obligations and exploration work at the corporation's mineral properties.

Following completion of the offering, the corporation has 8,663,915 common shares issued and outstanding.

All common shares issued under the offering will be subject to a statutory hold period of four months and one day, expiring on Feb. 8, 2026.

About Red Lake Gold Inc.

Red Lake is focused on advancing mineral exploration, including through mining claims that it holds in differing locations within Ontario, Canada.

We seek Safe Harbor.