Mr. Alex Bugden reports

SORRENTO RESOURCES TO ACQUIRE RODGERS COVE GOLD PROJECT, NEWFOUNDLAND

Sorrento Resources Ltd. has entered into a mineral property purchase agreement dated June 4, 2025, whereby the company may acquire a 100-per-cent undivided interest in the four minerals licences collectively representing the Rodgers Cove project located in the province of Newfoundland and Labrador.

Pursuant to the agreement, the company has agreed to acquire the project in consideration of (i) the payment $10,000 in cash, (ii) the issuance of an aggregate of two million common shares of the company, and (iii) the grant of a combined total 2-per-cent net smelter returns royalty on the project to certain of the vendors, of which the company may purchase up to 1 per cent for a total of $1-million.

All the vendors of the licences forming the project deal with the company at arm's length. Closing of the transaction remains subject to, without limitation, receiving all necessary consents and approvals, as well as the satisfaction of customary closing conditions. Sorrento expects to complete the transaction on or around June 11, 2025. No finders' fees are payable in connection with the transaction. All securities issued pursuant to the transaction will be subject to a statutory hold period of four months and one day from issuance.

The project consists of four individual mineral licenses made up of 99 individual claims for an area of approximately 2,475 hectares.

These developments mark a milestone expansion for Sorrento as the areas at the Rodgers Cove gold project are located in the Central Newfoundland gold belt (CNGB), proximal or along major crustal-scale deformation and fault zones that are integral to the gold deposits of the CNGB.

Several targets have already been identified:

Target No. 1:

• A large (approximately 800 by 600 metres) soil anomaly with notable gold values of 758, 591 and 475 ppb (parts per million) Au.
• This anomaly is underlain by the northeastern edge of Au-Ag mineralization-bearing Devonian granodiorite.
• Coincides with the northern extension of a 1.5-kilometre stretch of altered granite associated Au showings.
• Trenching and channel sampling returned values of 115.6 g/t Au over one m and 22.6 g/t Au over 0.5 m.

Target No. 2:

• An approximate 400 by 500 m soil anomaly with five samples returning values between 100 to 300 ppb Au and eight samples returning values between 50 to 100 ppb Au.
• Situated over Indian Island Group marine sedimentary rock between two granodiorite units.
• Directly south of an arsenopyrite-rich quartz vein system with intense alteration; a series of historic gold-silver (Au-Ag) showings, grab samples and drill intercepts have yielded assays up to 14.56 g/t Au and 440 g/t Ag.

Target No. 3:

• An approximate 100 by 450 m soil anomaly with one soil assaying 1.78 g/t Au.
• Five soil samples returning values above 50 ppb Au.

Target No. 4:

• Four known gold occurrences.
• Rodgers Cove gold showing: 7.548 g/t, 5.858 g/t and 3.082 g/t Au in grab samples.
• Kypher gold showing: 11.933 g/t, 2.722 g/t Au and 0.4209 per cent Cu (copper) in grab samples.
• Long Pond gold showing: 7.157 g/t Au in grab sample.
• Fancey gold showing: 2.9 g/t Au in grab sample.

The results of historic sampling completed on the project have not been verified by the company.

Geology of the Rodgers Cove gold project

Rodgers Cove is situated on the eastern edge of the Dunnage zone within the Exploits subzone, an area that forms the Central Newfoundland gold belt (CNGB). The property straddles both the JBP fault and the Appleton fault, which are associated with hydrothermal epigenetic gold veining at high-grade discoveries in the Exploits subzone. In line with these discoveries is the presence of altered granodiorite-hosted mineralization linked to quartz veining and abundant arsenopyrite.

The central part of the property is intruded by an exposed granitoid. This altered granite area is about 0.5 km north of significant Au-Ag mineralization recently discovered in high-grade grab samples along a northeast trend. The unit features a high degree of disseminated sulphide-mineralized quartz veining, coinciding with the strongest gold anomaly.

To the north, the property surrounds multiple historic showings that follow a granitoid intrusive contact into the Rodge's Cove claims and target No. 2. A common feature throughout these showings is granodiorite-hosted massive and semi-massive pyrite-arsenopyrite-rich quartz vein style gold mineralization. The intensity of altered rock was found to have a positive correlation with arsenopyrite levels and gold values.

About the Rodgers Cove project

The Rodgers Cove project is located in Gander Bay, Newfoundland and Labrador, near the town of Rodgers Cove and less than 50 km north of Gander, a town with a skilled work force and an international airport. The property is located in a strategic position, as it is on tidewater and is accessible via forest access roads. There is also a nearby transmission line.

Limited exploration has been undertaken on the property. It has never seen a diamond drill and very limited geophysical methods have been completed. The most recent exploration, a limited trenching program, yielded very encouraging results (115.6 g/t Au over one m), that were never followed up on.

Management commentary

Alex Bugden, PGeo, director and qualified person of Sorrento Resources, commented: "This is a tremendous acquisition for Sorrento Resources. Since the start of 2025, we have worked diligently to acquire the Rodgers Cove gold project. To see it completed is an exciting milestone for the company. The high-grade gold in soil along with amazing channel sampling results which have never been followed up on presents a rare opportunity and we are very excited to get boots on the ground and begin exploring."

Change of directors

The company further announces the resignation of Samantha Shorter as a director of the company. The company wishes to thank Ms. Shorter for her contributions to the board and wishes her all the best in future endeavours.

Qualified person

Alex Bugden, PGeo, a qualified person in accordance with National Instrument 43-101, has reviewed and approved the technical information contained in this press release.

About Sorrento Resources Ltd.

Sorrento Resources is engaged in acquisition, exploration and development of mineral property assets in Canada. The company's objective is to locate and develop economic precious and base metal properties of merit including the Rodgers Cove, Wing Pond, Lord Baron projects, the PEG lithium project and the Harmsworth (VMS) project all located in Newfoundland.

We seek Safe Harbor.