Mr. David Ellis reports

RICHMOND COMMENCES DRILLING PROGRAM AT AGUARA EAST

Richmond Minerals Inc. has provided an update for exploration work at the company's Ridley Lake gold project located in the west central area of the Swayze greenstone belt.

This milestone represents a strategic pivot toward modernizing the exploration of the Swayze greenstone belt, a region that has emerged as a premier gold zone following Iamgold's acquisition of the Cote Lake deposit for $585-million in 2012 and Newmont's significant Borden Lake mine, situated approximately 23 miles to the west and on strike with the company's holdings.

This program effectively concludes a protracted period of project dormancy. The project's progress is underpinned by its situation within the Swayze-Deloro metavolcanic-metasedimentary complex, where specific structural and lithological features provide the ideal architecture for hydrothermal gold deposition.

Historical exploration has identified two primary prospects on the property: the Aguara and the Cyril Knight zones. The current drilling campaign at Aguara East represents the most technically advanced exploration effort in the history of the Ridley Lake property. By synthesizing historical high-grade geochemistry with modern structural modelling and deep-penetration IP, Richmond Minerals is systematically targeting the roots and potential extensions of the Aguara zone.

Six drill holes with individual length up to 500 metres are planned to test the Auguara East zone.

Parallel to the actual drilling four new drill holes are within the process of permitting to test the Aguara West zone in detail following up the phase 4 drilling.

On April 14, 2021, the company announced that phase IV diamond drilling consisted of drilling six holes totalling 2,227 metres that tested for Aguara zone western extensions of gold mineralization. Promising assay results were announced on May 6, 2021. The assay results show values of 19.62 grams per tonne Au, 21.52 g/t Au and 13.52 g/t Au at the bottom of hole RS20-33. In hole RS 21-37 the interval from 43 to 44 m shows a value of 3.58 g/t Au.

The actual program and its extension are testing the prospective zone between Aguara West and East at a striking length of 1,500 m.

The company was also notified on Feb. 17, 2026, that it has been selected to receive grant funding of up to $200,000 under the Ontario Junior Exploration Program (OJEP) from the Ontario government. This amount will cover up to 50 per cent of eligible exploration costs, to a maximum of $200,000 in respect of expenditures incurred by the company during the period from April 1, 2025, to Feb. 28, 2026, on the Ridley Lake project.

Dr. Thomas Unterweissacher, EurGeol, a qualified person, within the meaning of National Instrument 43-101 -- Standards of Disclosure for Minerals Projects, has reviewed and approved the scientific and technical information contained in this news release. Dr. Unterweissacher is not considered to be independent of the corporation (as defined in National Instrument 43-101), as he is member of the board of directors and currently holds securities of the corporation.