Mr. Dev Randhawa reports

SHINE MINERALS APPOINTS ROSS MCELROY AS PRESIDENT & CEO

Shine Minerals Corp. has appointed Ross McElroy as president, chief executive officer and a director, effective July 27, 2026. Mr. McElroy joins Shine after leading Fission Uranium through its $1.14-billion acquisition by Paladin Energy in December, 2024. He co-founded Fission Uranium alongside 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 Silver District Arizona Minerals Corp. board of directors.

Mr. McElroy is a professional geologist with almost four 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 (Prospectors & Developers Association of Canada) prestigious Bill Dennis Award (2014) recognizing excellence and innovation in mineral exploration success.

He holds a bachelor of science, 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, 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 U.S. 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 Arizona Minerals, 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 per cent of Red Cloud Silver and its option on the Silver District project, which has a recorded production including 1.56 million ounces (44,225 kilograms) silver and 2.33 million pounds (1.06 million kilograms) lead, mostly produced during a peak production period from 1883 to 1893, the company gains exposure to a large, multitarget system with demonstrated silver, fluorspar and barite mineralization across a district-scale land package, each of which is a U.S. critical mineral.

At Silver District, silver-enriched calcite-barite-fluorite carbonate veins cover a 3.5-kilometre-by-6.5-kilometre area and include the West (4.5-kilometre strike length), Central (3.5-kilometre strike length) and East (4.5-kilometre strike length) vein-fault zones. Mineralized veins are exposed at surface, range from 7.5 metres to 45 metres in width and have been tested to an average depth of only 35 metres (468 historical drill holes). Shine Minerals considers the Silver District project to be highly prospective for additional silver-fluorspar-barite veins adjacent (along strike) and below (downdip and downplunge) 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 of 30 metres) 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 Shine Minerals Corp.

Shine Minerals 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 TSX-V Policy 2.6, Section 1.4, with a focus on quality exploration assets and a disciplined approach to capital allocation.

We seek Safe Harbor.