Mr. Mason Granger reports

SUPERNOVA FILES AMENDED AND RESTATED LIFE OFFERING DOCUMENT

Supernova Metals Corp., to be renamed Oregen Energy Corp., has filed an amended and restated offering document related to the previously announced offering of units of the company dated July 11, 2025, that is accessible under the company's issuer profile at SEDAR+ and on the company's website. Prospective investors should read this offering document before making an investment decision.

The Supernova units are being offered at a price of 36 cents per Supernova unit, to be issued in accordance with the listed issuer financing exemption in Part 5A of National Instrument 45-106 -- Prospectus Exemptions (NI 45-106), in one or more tranches, for gross proceeds of up to $4-million. Each Supernova unit will consist of one common share of Supernova and one Supernova share purchase warrant. Each Supernova warrant shall entitle the holder thereof to purchase one Supernova share at an exercise price of 54 cents for a period of 24 months following the closing of the LIFE offering, subject to accelerated expiry in certain circumstances.

Concurrently with the LIFE offering, the company, through 1541586 B.C. Ltd. (FinanceCo), a wholly owned subsidiary of the company, is conducting an offering of units of FinanceCo at a price of 36 cents per FinanceCo unit to be issued in a private placement under the accredited investor exemption under NI 45-106 for gross proceeds of up to $3-million. Research Capital Corp., as lead agent and sole bookrunner, on behalf of a syndicate of agents including Canaccord Genuity Corp. and Roth Canada Inc. has been engaged in connection with the offerings.

Each FinanceCo unit will consist of one common share of FinanceCo and one FinanceCo share purchase warrant. Each FinanceCo warrant shall entitle the holder thereof to purchase one FinanceCo share at an exercise price of 54 cents for a period of 24 months following the closing of the private placement offering, subject to accelerated expiry in certain circumstances.

The FinanceCo warrant and Supernova warrant are collectively referred to herein as the warrants. The warrants will become exercisable on the day commencing 60 days following the date of issuance. In the event that the volume weighted average trading price of the Supernova shares on the exchange, or other principal exchange on which the Supernova shares are listed, is equal to or greater than 72 cents for any 20 consecutive trading days, the company may, within 10 business days of the occurrence of such event, deliver a notice to the holders of warrants accelerating the expiry date of the warrants to the date that is 30 days following the date of such notice. Any unexercised warrants shall automatically expire at the end of the accelerated exercise period.

The net proceeds of the private placement offering will be used for the acquisition (as defined below), working capital requirements and other general corporate purposes. The net proceeds from the LIFE offering will be used for working capital and general corporate purposes.

The closing of the offerings is expected to occur on or about the week of July 14, 2025, or such other date as Supernova and the agents may agree. Completion of the offerings remain subject to the satisfaction of a number of conditions, including receipt of the approval of the Canadian Securities Exchange and the delivery of customary closing documents. For further information on the offerings, please refer to the company's press release dated May 20, 2025.

About Supernova Metals Corp.

Supernova is an oil exploration company focused on acquiring and advancing natural resource opportunities globally. The company is primarily focused on increasing its ownership interest in Block 2712A located in the Orange basin, offshore Namibia. The company is also actively exploring other investment and acquisition opportunities in the Orange and surrounding basins.

We seek Safe Harbor.