Mr. Albert Contardi reports

GREENCASTLE ANNOUNCES CLOSING OF PRIVATE PLACEMENT

Greencastle Resources Ltd., further to its news release of Feb. 27, 2026, has closed its non-brokered private placement financing for gross proceeds of $200,000 through the issuance of five million units in the capital of the company at a price of four cents per unit.

Each unit comprised one common share in the capital of the company and one whole common share purchase warrant. Each warrant entitles the holder thereof to acquire one common share at a price of five cents per common share until the date that is two years from the date of issuance. Gross proceeds raised from the offering will be used for accounts payable. The company confirms that the gross proceeds will not be used for investor relations or paid to non-arm's-length parties. All securities issued in connection with the offering are subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation.

The offering constituted a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, as an insiders of the company acquired an aggregate of 2.5 million units pursuant to the offering. The company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(b) of MI 61-101, as the company is not listed on a specified market and the fair market value of the participation in the offering by the insiders does not exceed $2.5-million. The company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the of the offering, which the company deems reasonable in the circumstances in order to complete the offering in an expeditious manner.

We seek Safe Harbor.