Mr. Ross Ewaniuk reports

NEWS RELEASE EARLY WARNING REPORT REGARDING ROSS EWANIUK

This news release is being disseminated as required by National Instrument 62-103, The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, in connection with the filing of the early warning report regarding the disposition of securities of Waskahigan Oil & Gas Corp. by Ross Ewaniuk (the vendor).

Pursuant to a share transfer agreement between the vendor and a certain arm's-length purchaser dated May 15, 2026, the vendor agreed to dispose of 110,000 common shares of the company at a price of 25 cents per common share. On May 20, 2026, the vendor effectively transferred the common shares to the acquiror.

Prior to the share purchase, the vendor held control or direction over 1,391,550 common shares, representing 40.65 per cent of the issued and outstanding common shares.

Upon completion of the acquisition, the vendor holds control or direction over 1,281,550 common shares, representing 37.44 per cent of the issued and outstanding common shares.

The foregoing figures are based on the company's latest financial statements for the year ended Dec. 31, 2025, which indicate 3,423,069 common shares were issued and outstanding.

The common shares were disposed of by the vendor for investment purposes. In the future, the vendor may directly or indirectly, acquire additional common shares or dispose of such common shares subject to a number of factors, including, without limitation, general market and economic conditions and other investment and business opportunities available.

A copy of the early warning report to be filed by the vendor will be available on SEDAR+ under the company's profile on SEDAR+.

For more information, or to obtain a copy of the early warning report, please contact:

• Mr. Ewaniuk:
  • Address: care of Suite 2700, 1133 Melville St., Vancouver, B.C., V6E 4E5;
• Nafeesa Valli-Hasham, counsel:
  • Telephone: 604-643-2991;
  • E-mail: nafeesa.valli-hasham@ca.dlapiper.com.

This early warning news release is issued under the early warning provisions of Canadian securities legislation, including NI 62-104, Take-Over Bids and Issuer Bids, and NI 62-103, The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.