Ms. Caitlin Jeffs reports

RED METAL RESOURCES CLOSES SECOND AND FINAL TRANCHE OF FINANCING

Red Metal Resources Ltd. has closed the second and final tranche of its previously announced non-brokered private placement financing (see news releases dated Jan. 7, 2026, Jan. 19, 2026, and Jan. 22, 2026) by issuing 7,496,633 units of the company at a price of six cents per unit for gross proceeds of $449,798. The first tranche of the offering consisted of the sale of 9,125,000 units for aggregate gross proceeds of $547,500 and, together with the second tranche, the aggregate gross proceeds of the offering were $997,298.

Caitlin Jeffs, president and chief executive officer, commented: "We are very pleased with the strong support shown in this first tranche. The participation from both new and existing shareholders, including our insiders, reflects continued confidence in Red Metal's strategy and the potential of our projects in Chile. This funding strengthens our position as we advance our exploration plans for 2026."

Each unit comprises one common share of the company and one share purchase warrant, with each warrant exercisable to acquire one additional share at a price of nine cents for the first 12 months from the date of issuance, 12 cents for the 12-to-24-month period from issuance and 15 cents for the 24-to-36-month period from issuance.

The securities issued under the second tranche are subject to a statutory four-month hold from the date of issuance. In connection with the second tranche, the company paid $18,480 in cash finders' fees and issued 308,000 finders' warrants. Each finder's warrant entitles the holder to purchase one share of the company at a price of six cents per share for a period of two years from the date of issuance.

The proceeds from the offering will be used for general working capital purposes and to advance exploration on the company's Carrizal copper project in Chile.

Multilateral Instrument 61-101 disclosure

Two insiders participated in the second tranche for aggregate proceeds of $58,600. Each insider's participation in the offering constitutes a related party transaction as defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company is relying on the exemptions under Section 5.5(a) and Section 5.7(1)(a) of MI 61-101 from the formal valuation and minority shareholder approval requirements of MI 61-101, as the fair market value of the units issued to each of the related parties and the consideration paid by each of the related parties under the second tranche did not exceed 25 pepr cent of the company's market capitalization, as determined in accordance with MI 61-101. The company did not file a material change report in respect of the related party transactions at least 21 days before the closing of the second tranche due to the company's desire to close the second tranche expeditiously.

Investor awareness

Red Metal has entered into an advertising and investor awareness campaign with Dig Media Inc., doing business as Investing News Network (INN). INN is a private company headquartered in Vancouver, Canada, dedicated to providing independent news and education to investors since 2007. For the 12-month term of the agreement starting Feb. 11, 2026, INN will provide advertising on its website to increase awareness of the issuer. INN does not provide market-making services. The cost of the campaign is $20,000. INN can be reached at 604-688-8231 or info@investingnews.com. No securities will be issued as compensation for its services.

About Red Metal Resources Ltd.

Red Metal Resources is a mineral exploration company focused on growth through acquiring, exploring and developing clean energy and strategic minerals projects. The company's current portfolio includes the 100-per-cent-owned Ville Marie claims in Quebec, Canada, as well as the company's Chilean projects, which are located in the prolific Candelaria iron oxide copper-gold (IOCG) belt of Chile's coastal Cordillera. Red Metal is quoted on the Canadian Securities Exchange under the symbol RMES, on the OTC Link alternative trading system on the OTC Pink marketplace under the symbol RMESF and on the Frankfurt Stock Exchange under the symbol I660.

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