Kelowna, British Columbia--(Newsfile Corp. - July 27, 2026) - Shine Minerals Corp. (TSXV: SMR.H) ("Shine" or the "Company") is pleased to announce the appointment of Mr. Ross McElroy as President, CEO and Director, effective July 27, 2026. Mr. McElroy joins Shine after leading Fission Uranium through its $1.14 billion acquisition by Paladin Energy in Dec 2024. He co-founded Fission Uranium alongside Mr. Dev Randhawa and served as the company's CEO until the successful completion of the transaction. Most recently, he was CEO of Apollo Silver. He will also join the Shine-Silver District AZ. Minerals BOD.

Mr. McElroy is a professional geologist with almost 4 decades of mining industry experience both in operational and corporate roles, having worked with major, mid-tier and junior mining and exploration companies. His extensive international background spans from grassroots exploration to development to mining operations. He has played a key role in the discoveries of numerous world-class uranium and gold orebodies, several of which have been advanced to development and mining operations. His accomplishments have earned widespread recognition including being named The Northern Miner's "Mining Person of the Year" (2013) along with Mr. Randhawa and receiving PDAC's prestigious "Bill Dennis Award" (2014) recognizing excellence and innovation in mineral exploration success.

He holds a Bachelor of Science degree, with a specialization in Geology from the University of Alberta and is a registered professional geologist in Saskatchewan and British Columbia. 

Mr. McElroy will lead the new company, Silver District Arizona Minerals Corp., upon completion of the transaction with Red Cloud Silver (RCS).

"I am excited to be joining Shine as its new President and CEO at such a pivotal time in the Company's evolution as an explorer and developer of high-grade silver and other critical minerals in the very mining friendly jurisdiction of Arizona," said Mr. McElroy. "With a long and extremely successful shared history working alongside Dev Randhawa, I see a major opportunity to unlock significant value for all stakeholders as the Company advances towards becoming a leading silver company in the United States of America."

Mr. Randhawa, Chairman, added, "I am excited to again be working closely with Ross as we advance Shine and build value for our shareholders. With the addition of Ross as President and CEO, Shine will be in a strong position to advance our high-value US critical mineral assets with anticipated completion of the RCS transaction."

Mr. Randhawa will step down as President and CEO of Shine and assume the role of Executive Chairman of Shine Minerals - Silver District AZ Minerals Corp., effective immediately.

The Proposed Transaction positions Shine to secure a high-quality exploration opportunity in one of the most historically productive and infrastructure-rich silver districts in the American Southwest. By obtaining the right to acquire 100% of Red Cloud Silver, (RCS) and its option on the Silver District Project (the "Project"), which has a recorded production including 1.56 Moz (44,225 kg) silver and 2.33 million lbs (1.06 million kg) lead, mostly produced during a peak production period from 1883-1893¹. With this acquisition, The Company gains exposure to a large, multi-target system with demonstrated silver, fluorspar and barite mineralization across a district-scale land package. Each of which are US Critical Minerals.

At Silver District, silver enriched calcite-barite-fluorite carbonate veins at Silver District cover a 3.5 by 6.5-kilometer area and include the West (4.5 kilometers strike-length), Central (3.5 km strike-length) and East (4.5 km strike-length) vein-fault zones. Mineralized veins are exposed at surface, range from 7.5 meters to 45 meters in width and have been tested to an average depth of only 35 meters (468 historical drill holes)^1,2. Shine Minerals considers the Silver District Project to be highly prospective for additional silver-fluorspar-barite veins adjacent (along-strike) and below (down-dip, down-plunge) previously identified mineralization. Due to the extremely shallow depths of historical drilling, Shine Minerals believes there is excellent potential at depth where dominantly oxide mineralization (exposed at surface) is expected to transition to dominantly sulphide mineralization.

The Silver District Project contains 468 historical drill holes (average depth 30 meters) that demonstrate near-surface silver-fluorspar continuity across the three main trends. The Silver District Project was discovered in 1862, with most of the historical production coming from the underground Red Cloud and Clip mines. There have been occasional small- scale development activities since, and the area remains a source of specimen wulfenite, an oxide lead molybdate mineral, and vanadinite, an oxide lead vanadium mineral.

About Red Cloud Silver Ltd. (RCS)

Red Cloud Silver Ltd. is a private company focused on advancing the Project in Arizona. RCS holds an option to acquire 100% of the Project and is led by an experienced technical and capital-markets team.

About Shine Minerals Corp.

Shine Minerals Corp. (TSXV: SMR.H) is a Canadian junior resource company currently listed on the NEX board of the TSX Venture Exchange. The Company is pursuing value-accretive transactions to re-establish itself as an active Tier 2 Mining Issuer in accordance with TSXV Policy 2.6, Section 1.4, with a focus on quality exploration assets and a disciplined approach to capital allocation.

Disclosure Notes

¹ Silver District Property Summary, La Paz County, Arizona Summary Report for New Jersey Zinc Exploration Company, 15 Columbus Circle, New York, New York, USA. A report commissioned by Orbex Resources Inc., Vancouver, B.C, 1409-409 Granville Street, Vancouver, B.C., V6C1T8. March 14, 1991.

² Data disclosed in this news release includes historical drilling results and information derived from historic drill results, Shine Minerals Corp. has not undertaken any independent investigation of the sampling, nor has it independently analyzed the results of the historical exploration work to verify the results. Shine considers these historical data relevant as the Company is using these data as a guide to plan exploration programs. The Company's current and future exploration work includes verification of the historical data through drilling.

Cautionary Statements

This news release contains "forward‐looking information or statements" within the meaning of applicable securities laws, which may include, without limitation, statements that address the Company's plans for the Proposed Transaction, the closing of the Proposed Transaction, and other statements relating to the technical, financial and business prospects of the Company, and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding receipt of TSXV and other required approvals for the Proposed Transaction, present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including those filed under the Company's profile on SEDAR+ at www.sedarplus.ca. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/306592