Mr. Brad Rourke reports

SCOTTIE RESOURCES ANNOUNCES BROKERED PRIVATE PLACEMENT FOR UP TO $10 MILLION AND PROVIDES UPDATE ON NON-BROKERED PRIVATE PLACEMENT

Scottie Resources Corp. has entered into an agreement with Velocity Trade Capital Ltd., as sole bookrunner, and Agentis Capital Markets (AFN LP), as co-lead agent, on behalf of a syndicate of agents, in connection with a commercially reasonable efforts private placement of up to 3,448,275 common shares of the company at a price of $2.90 per offered share for aggregate gross proceeds to the company of up to approximately $10-million.

The company has agreed to grant the agents an option to sell up to 689,655 additional offered shares at the offering price for aggregate gross proceeds of up to approximately $2-million, exercisable in whole or in part at any time up to 48 hours prior to the closing date (as defined below).

In consideration for the agents' services with respect to the offering, the company will: (i) pay to the agents a cash commission equal to 6.0 per cent of the aggregate gross proceeds of the offering (including the agents' option, if applicable), provided that no cash commission shall be payable in respect of gross proceeds of up to $3-million from purchasers on the president's list to be agreed to among the company and the agents, and (ii) issue warrants to purchase that number of common shares of the company equal to 6.0 per cent of the aggregate number of offered shares sold pursuant to the offering (including the agents' Option, if applicable), provided that no compensation warrants shall be payable in respect of purchasers on the president's list. Each compensation warrant will be exercisable to acquire one common share of the company at the offering price for a period of 24 months following the closing date.

The company further announces that it has amended the size of the previously announced non-brokered private placement announced on Sept. 11, 2026, to $17-million. The non-brokered offering is expected to be completed concurrently with the offering. The offering and the non-brokered offering, together, are expected to provide aggregate gross proceeds to the company of up to $27-million, or up to $29-million if the agents' option is exercised in full.

The gross proceeds from the issue and sale of the offered shares will be used for working capital and general corporate purposes, including work related to the technical studies and permitting currently under way at the Scottie gold mine project. The offering is schedulled to close on or about Oct. 7, 2026, and remains subject to regulatory approval, including the approval of the TSX Venture Exchange. The offered shares issued pursuant to the offering will be subject to a statutory four-month hold period.

About Scottie Resources Corp.

Scottie Resources holds a 100-per-cent interest in the Scottie gold mine property, which includes the high-grade, past-producing Scottie gold mine and the adjacent Blueberry Contact zone. The company also owns a 100-per-cent interest in the Georgia project, host to the past-producing Georgia River mine, as well as the Cambria, Sulu and Tide North properties. In total, Scottie controls approximately 58,500 hectares of highly prospective mineral claims within the Stewart mining camp in British Columbia's Golden Triangle -- one of the world's most prolific mineralized districts.

Scottie's current resource estimate on the Scottie gold mine project includes a total of 703,000 gold ounces at an average grade of 6.1 grams per tonne (inferred category) in 3.6 million tonnes, highlighting the development potential for a significant near-surface, high-grade deposit. The company's strategy is to continue expanding this resource and to define additional mineralization around past-producing mines through systematic drilling and surface exploration.

The company has recently completed a PEA for the Scottie gold mine (Bird et al., Oct. 28, 2025, Scottie gold mine project, SEDAR+). The PEA outlines a robust ore sorting and direct-ship ore (DSO) development scenario with strong economics and significant upside through a potential toll-milling option utilizing excess capacity at the nearby Premier mill. The base case DSO project delivers an after-tax NPV (net present value) (5 per cent) of $215.8-million to $668.3-million at gold prices of $2,600 (U.S.) to $4,200 (U.S.)/ounce, respectively. Under the toll-milling scenario, project economics improve substantially, with an after-tax NPV (5 per cent) of $380-million to $832-million (no agreement currently in place). The PEA estimates initial capital costs of $129-million, average annual production of approximately 65,400 ounces gold over seven years and a payback period of 1.7 years for the after-tax DSO case -- reduced to just 0.9 year under the toll-milling opportunity at $2,600 (U.S.)/oz.

We seek Safe Harbor.