Mr. Wenhong Jin reports

WSK SIGNS LOI TO ACQUIRE 100% OF NEWRIDGE GOLD PROJECT, ADVANCING STRATEGIC ENTRY INTO ZIMBABWE'S PROLIFIC GREENSTONE BELT

Wildsky Resources Inc. has signed a binding letter of intent (LOI) dated Oct. 1, 2026, to acquire a 100-per-cent interest in the NewRidge gold project and to assume an option to purchase three adjacent mining claims (claim Nos. 18035 to 18037 BM), located in Manicaland province, Zimbabwe. This proposed arm's length acquisition represents a strategic milestone for Wildsky as it expands its portfolio of high-quality African mineral assets and builds long-term shareholder value.

Project overview: a high-potential gold system

The NewRidge gold project is hosted within the prospective Odzi-Mutare-Manica greenstone belt, a major Archean terrane within the Zimbabwe craton. The project lies on the southern limb of the Mbeza syncline, approximately 6.5 kilometres from the Red Wing gold mine, which occurs on the northern limb. Both are situated within greenstone belt rocks near the basal conglomerate contact, demonstrating the district-scale potential of the area.

The project comprises mining claim No. 17848 BM, covering 150 hectares, with an active mining permit and environmental impact assessment (EIA) approval already in place, positioning the project for a potentially rapid transition to production once a positive exploration program has been completed.

Key project attributes:

• Significant mineralization: The main mineralized zone has been traced over 1,100 metres along strike, hosted by a diorite porphyry intrusion and its contact with serpentinite. The porphyry hosts broad zones of low-to-medium-grade gold mineralization, while the contact zone hosts higher-grade, lens-shaped gold mineralization.
• New mineralization style with exploration upside: Unlike classic Archean greenstone-hosted gold deposits typical of Zimbabwe, the NewRidge gold project is preliminarily interpreted as a gold system genetically linked to a diorite porphyry emplaced during a late-orogenic extensional stage. The porphyry is not only a favourable host rock but also exhibits pervasive alteration and mineralization (sericitization, silicification and disseminated pyrite). Based on extensive trenching and artisanal pit sampling conducted by Wildsky's technical team since September, 2025, the company believes significant exploration potential exists at depth and along strike.

Strategic location with excellent infrastructure

The project is located 10 kilometres by road northeast of Mutare, a major mining centre in eastern Zimbabwe, and is approximately 300 kilometres by road from the port of Beira in Mozambique, providing direct access to regional and international logistics networks:

• Transport: all-weather road access to Mutare and the A3 highway; road and rail links to Beira port;
• Utilities: mobile and satellite coverage across the site; new camp with a capacity for 30 personnel;
• Supplies: mining consumables, spare parts and daily necessities are readily available in Mutare;
• Water: municipal water is used for domestic purposes and heap-leach operations, while water for other industrial activities is sourced from the mine shaft;
• Power: the project is connected to the national electricity grid;
• Work force: Mutare is a well-established mining centre with a large pool of experienced local mining talent.

Background to the acquisition

On Aug. 23, 2026, Golden Cube Mining Corp. Pvt. Ltd. entered into an agreement to acquire a 100-per-cent interest in the NewRidge gold project (claim No. 17848 BM). Concurrently, Golden Cube also secured exclusive exploration rights for a two-year period over three adjacent claims (Nos. 18035 to 18037 BM), covering approximately 300 hectares, with an option to acquire these claims for additional consideration upon satisfactory exploration results.

Additionally, on Aug. 17, 2026, Golden Cube entered into a joint venture agreement with the landowner of 50 hectares of private land within the claim area for the joint development of oxide gold mineralization within 60 metres of the surface over a 36-month period.

Wildsky transaction terms

Following Wildsky's technical team's site visit and discussions with Golden Cube after the Aug. 23 agreement, the parties have agreed in principle for Wildsky to acquire a 100-per-cent interest in the NewRidge gold project from Golden Cube.

The key terms of the proposed transaction are as follows:

1. Exclusivity: Upon signing a binding LOI, Golden Cube will grant Wildsky a 60-day exclusive due diligence period. Upon satisfactory completion of due diligence and other requirements set out in the LOI, the parties will enter into a definitive agreement.
2. Exploration rights: Upon signing the definitive agreement, Wildsky will pay Golden Cube $100,000 (U.S.) in cash and will be granted the right to conduct exploration activities on the NewRidge gold project.
3. Second payment and share issuance: At six months, Wildsky will pay Golden Cube $200,000 (U.S.) in cash and issue one million common shares of Wildsky.
4. Third payment and share issuance: Wildsky will pay Golden Cube $1.7-million (U.S.) in cash and issue four million Wildsky common shares to Golden Cube after the title to the main claim has been transferred to Wildsky's wholly owned subsidiary in Zimbabwe.
5. Final payment and share issuance: Wildsky will pay Golden Cube $1-million (U.S.) in cash and issue six million Wildsky common shares to Golden Cube on or before the date that is six months after the title to the main claim has been transferred to Wildsky's wholly owned subsidiary in Zimbabwe.

Upon completion of all payments and share issuances, Wildsky will hold 100-per-cent ownership of the NewRidge project mining claim. The closing of the definitive agreement will be subject to receipt of TSX Venture Exchange approval.

The proposed transaction will constitute a fundamental acquisition pursuant to TSX-V Policy 5.3, Acquisitions and Dispositions of Non-Cash Assets, the trading of the company's common shares on the TSX-V is expected to be halted pending TSX-V receipt and review of acceptable documentation as required under Policy 5.3.

Remaining interest: The existing joint venture between Golden Cube and the landowner will be preserved solely with respect to the right to mine oxide ore within 60 metres of the surface on the 50-hectare private land, for a period of 36 months.

Termination of prior transactions

The company also wishes to provide an update on its previously announced transactions. As previously disclosed on March 23, 2026, the company entered into a non-binding memorandum of understanding with Midau Mining Pvt. Ltd. and Krumlin Mining Pvt. Ltd. with respect to an option to acquire a 100-per-cent interest in exclusive prospecting orders (EPOs) 1725 and 1622, and certain claims within those areas owned by the optionors, located in Zimbabwe. However, the two EPOs have expired and, to date, the owners have not been able to renew them. As a result, the conditions for proceeding with the proposed transaction have not been met, and the company has terminated the MOU.

In addition, as previously disclosed on April 21, 2026, the company entered into a non-binding letter of intent with respect to the acquisition of Phoenix Art Ltd. Phoenix holds a 51-per-cent interest in Wilsite Gold Mining Pvt. Ltd., which in turn holds a 100-per-cent interest in the Felsite gold project located in the Gweru area of Zimbabwe. Under the proposed transaction, the company would only indirectly acquire a 51-per-cent interest in the Felsite gold project, rather than a 100-per-cent interest. By contrast, the proposed acquisition of the NewRidge gold project will provide the company with a 100-per-cent interest in the project, which the company believes offers significantly greater exploration potential. Accordingly, the company has decided to terminate the proposed acquisition of Phoenix Art and will not proceed with the acquisition of the 51-per-cent indirect interest in the Felsite gold project. The company will instead focus all of its human and financial resources on completing the acquisition of the NewRidge gold project and advancing its subsequent exploration and development.

In connection with the termination of the Phoenix LOI, Phoenix has agreed to repay the loan amount of $255,000 (U.S.) to the company, which loan was made pursuant to a loan agreement between the parties. Upon receipt by the company of the cash repayment of the loan, Phoenix will have no further liabilities or guarantees owing to the company. The company did not advance any other funds in connection with the MOU or the Phoenix LOI.

Qualified person

The scientific and technical information disclosed in this news release has been reviewed and approved by Kairan Liu, the company's vice-president, exploration, a qualified person as defined by National Instrument 43-101.

About Wildsky Resources Inc.

Wildsky Resources is a Canadian exploration and development company focused on the African resources sector. The company is dedicated to creating sustainable shareholder value through strategic acquisitions and responsible project development.

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