Mr. Jean-Felix Lepage reports

SIRIOS COMPLETES ACQUISITION OF OVI MINING CORP

Sirios Resources Inc. has completed its previously announced business combination by way of a court approved plan of arrangement under the Business Corporations Act (British Columbia). Under the transaction, Sirios acquired all of the common shares of OVI Mining Corp. outstanding immediately prior to the effective time of the transaction, which resulted in OVI becoming a wholly owned subsidiary of Sirios.

Following completion of the transaction, each former holder of OVI shares is entitled to receive 2.34 common shares of Sirios in exchange for each common share of OVI held immediately prior to the effective time of the transaction.

Concurrent with the completion of the transaction, Jean-Felix Lepage has been appointed chief executive officer of Sirios, replacing Sirios founder Dominique Doucet, who will transition to executive chairman and head of exploration. In addition, Sean Roosen and Laurence Farmer have joined the board of directors of Sirios, adding deep Quebec mining and capital markets expertise to the Sirios team.

Mr. Lepage has over 15 years of experience in mining and managing operations, projects and development activities. Prior to becoming CEO of OVI, he was vice-president of projects at O3 Mining Inc., where he led the Marban project though the study and development process. His past experience also includes several different operational roles at Newmont Corp., including managing the underground operations at the Eleonore mine. Mr. Lepage obtained his bachelor of mining engineering from Universite Laval and holds a college technical degree in mineral processing from CEGEP de Thetford.

Mr. Lepage, incoming CEO of Sirios, stated: "I am honoured to lead Sirios Resources as we enter this exciting new chapter. The combination of Sirios and OVI creates a stronger, well-capitalized company with an exceptional portfolio of gold assets in the Eeyou Istchee James Bay region. I look forward to working with our talented team and newly strengthened board to advance our exploration and development programs and deliver value for our shareholders."

Mr. Doucet, former CEO of Sirios, stated: "After founding and leading Sirios for many years, I am proud to see the company take this significant step forward. This transaction brings together two complementary teams and asset portfolios, strengthening our position in the James Bay gold camp. In my new role as executive chairman and head of exploration, I remain deeply committed to Sirios and look forward to focusing my efforts on advancing our exploration programs and supporting Jean-Felix and the team in building on the foundation we have established."

Board of directors

The board is led by executive chairman Doucet and now includes Sean Roosen and Laurence Farmer, as well as Robert Menard, Colinda Parent and Guy Le Bel. Luc Cloutier has resigned from the board. Sirios would like to express its sincere gratitude for his years of service.

Mr. Roosen is the founder and executive chairman of Osisko Development Corp. and former CEO of OR Royalties Inc. As founder, president, chief executive officer and director of Osisko Mining Corp., Mr. Roosen was responsible for developing the strategic plan for the discovery, financing and development of the Canadian Malartic mine. Recognized as one of the "Top 20 Most Influential Individuals in Global Mining," in 2017, he brings unmatched industry vision and strategic leadership.

Mr. Farmer is the general counsel and VP strategic development of Osisko Development Corp. and the chief executive officer of Electric Elements Mining Corp., prior to which he was senior counsel of OR Royalties Inc. Prior to joining the Osisko Group, Mr. Farmer worked in investment banking at RBC Capital Markets in London and, before that, practiced as a corporate lawyer with Norton Rose Fulbright LLP in London, England, and Montreal, and brings strong transactional expertise and strategic insight into global resource development.

Information for former OVI shareholders

To receive the Sirios shares to which they are entitled under the transaction, former registered shareholders of OVI must complete, sign, date and return the letter of transmittal mailed to each OVI shareholder prior to closing. The letter of transmittal is also available on SEDAR+ under OVI's issuer profile. Former shareholders whose OVI shares are registered in the name of a broker, investment dealer, bank, trust company or other intermediary should contact that intermediary for assistance in depositing their OVI shares and follow its instructions.

The transaction was unanimously approved by shareholders of OVI at a special meeting held on Feb. 18, 2026. Further information about the transaction is set forth in the joint news release of Sirios and OVI dated Dec. 11, 2025, and the management information circular prepared by OVI in respect of the meeting which was mailed to shareholders of OVI and filed on SEDAR+ under OVI's issuer profile.

OVI has applied to cease to be a reporting issuer under applicable Canadian securities laws.

Pursuant to the transaction, Sirios will issue an aggregate of 131,905,594 Sirios shares. All 1,866,000 options to purchase OVI shares outstanding immediately prior to the effective time of the transaction, whether or not vested, were exchanged for 4,366,440 options to acquire Sirios shares, with an exercise price equal to approximately 5.641 cents per Sirios share, subject to rounding on the exercise thereof in accordance with the plan of arrangement and which expire on Nov. 1, 2030.

OVI owns a portfolio of properties located in the James Bay region of Quebec, including a 100-per-cent interest in the Corvet Est and PLEX gold projects. Certain of OVI's properties are subject to royalties and contingent cash payments, which have been assumed indirectly by Sirios as a result of the transaction.

Early warning disclosure

Prior to the completion of the transaction, Sirios held no OVI shares. Following the completion of the transaction, Sirios holds all of the issued and outstanding OVI shares. An early warning report will be filed by Sirios on SEDAR+ under OVI's issuer profile in accordance with applicable securities laws. To obtain a copy of the early warning report, please contact the CEO of Sirios 438-454-5636 or info@sirios.com. Sirios's head office is located at 1400 Marie-Victorin, Bureau 210, Saint-Bruno-de-Montarville, Que., J3V 6B9.

About Sirios Resources Inc.

Sirios Resources is a Quebec-based mineral exploration company focused on developing its portfolio of high-potential gold properties in the Eeyou Istchee James Bay region of Canada.

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