Mr. Blair Naughty of Canal Front reports

CANAL FRONT INVESTMENTS INC. ACQUIRES SECURITIES OF SORRENTO RESOURCES LTD.

Canal Front Investments Inc. has acquired ownership and control of one million common shares and 500,000 common share purchase warrants of Sorrento Resources Ltd.

The subject shares represented approximately 13.16 per cent of all issued and outstanding common shares of the company as of May 6, 2025, immediately following the transaction described above (or approximately 15.11 per cent on a partially diluted basis, assuming exercise of the subject warrants only), resulting in a corresponding increase in the percentage of shares held by the acquiror as a result of the transaction.

Immediately before the transaction described above, the acquiror held 3,365,500 common shares of the company and 500,000 warrants.

Immediately following the transaction described above, the acquiror held an aggregate of 4,365,500 common shares and convertible securities entitling the acquiror to acquire an additional 500,000 common shares of the company, representing approximately 14.25 per cent of the issued and outstanding common shares of the company (or approximately 17.55 per cent assuming exercise of such postconvertible securities only).

The aggregate consideration payable for the subject units was $75,000 or 7.5 cents per subject unit. The subject units were acquired in an open market which does not contain any provisions regarding the transfer, guarantee or voting of such securities.

The holdings of securities of the company by the acquiror are managed for investment purposes. The acquiror may from time to time acquire additional securities of the company, may dispose of some or all of the existing or additional securities they hold or will hold, or may continue to hold their current positions.

Additional information

A copy of the applicable securities report filed in connection with the matters set forth above may be obtained on SEDAR+ under the profile of Sorrento.