Winnipeg, Manitoba--(Newsfile Corp. - May 11, 2026) - Exter Gold Corp. (CSE: XGOL, formerly BDR) (formerly, Bird River Resources Inc.) (the "Company") is pleased to announce that it has completed the second tranche of its previously announced non-brokered private placement (the "Offering") of 6,984,614 common shares in the capital of the Company (the "Shares") at $0.105 per Share for aggregate gross proceeds of $733,384.47.

In connection with the Offering, the Company issued 24,000 finder's compensation Shares at $0.105 per Share, to an eligible finder (the "Finder's Fee").

Together with the first tranche of the Offering, which closed on March 2, 2026, the Company has issued an aggregate of 10,229,440 Shares pursuant to the Offering for aggregate gross proceeds of $1,074,091.20, excluding any Shares issued as Finder's Fees.

The Company intends to use the net proceeds from the Offering for general corporate and working capital purposes. All currency references in this news release are in Canadian currency unless otherwise noted. The Shares were issued by way of a private placement pursuant to exemptions from prospectus requirements under applicable securities laws.

Corporate Update

Further to the Company's news release dated December 11, 2025 regarding the entry into a binding letter of intent (the "LOI") with Analog Gold Inc. ("Analog") to acquire certain assets from Analog (the "Transaction"), the Company is pleased to provide the following corporate update. The preparation of a technical report for the Tres Oros Mine located in Mexico pursuant to National Instrument 43-101 - Standards of Disclosure for Mineral Projects and the required financial statements of Analog are progressing well, and the parties continue to advance the steps necessary to complete the Transaction.

As previously disclosed in the Company's news release dated March 2, 2026, the Tadeo Mill (the "Mill"), a processing facility situated approximately 47 km south of Mazatlán, Mexico, which is operated by the Company on lease and forms part of the assets to be acquired pursuant to the Transaction, has stabilized its operations. The Company confirms that the Mill has commenced generating revenue for the Company. The Mill has processed over 40,000 tons of ore for third parties since October 2025. Further, the development of the Tres Oros Mine has advanced as per plan and the mine has started production. The Mill commenced processing the Tres Oros ore in April 2026. The first revenue from Tres Oros Mine concentrate is expected in June 2026. Additionally, the permitting process for the El Dorado property has advanced significantly, including the agreements with the community.

The Company also announces that, effective April 8, 2026, the parties entered into an addendum to the LOI pursuant to which the outside date for the completion of the Transaction was extended to October 31, 2026, among other things.

About Exter Gold (formerly Bird River Resources)

Exter Gold (formerly Bird River Resources) is a Winnipeg, Manitoba-based resource company focused on advancing quality mineral exploration and development properties. Upon completion of its transaction with Analog Gold Inc., the Company will be a fully integrated producing gold and silver mining company located in a Tier-1 mining district east of Mazatlán, Mexico. Exter's key assets will include a fully operational processing mill with a capacity of processing 600 tons per day of ore, a producing mine Tres Oros, a near-term producing high-grade gold property El Dorado and two key exploration properties San Fernando and San Ramón located next to Vizsla Silver's high-grade Panuco Project with similar mineralization. Additional information regarding the Company is available at www.sedarplus.ca.

The securities of the Company referred to in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws. Accordingly, the securities of the Company may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of any offer to buy any securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Cautionary Note Regarding Forward-Looking Statements:

This press release includes certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities laws. All statements other than statements of historical fact included herein including, without limitation, statements relating to the future operating or financial performance of the Company, are forward-looking statements. Forward-looking statements are generally, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", "plans" and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this press release relate to, among other things: the anticipated use of proceeds from the Offering, the anticipated closing of the Transaction and receipt of necessary regulatory and shareholder approvals, the progress of the technical report and financial statements required in connection with the Transaction, and the revenue-generating operations of the Tadeo Mill.

Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct or accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Readers should not place undue reliance on the forward-looking statements and information contained in this press release. The statements in this press release are made as of the date of this release. Except as required by law, the Company expressly disclaims any obligation and does not intend to update any forward-looking statements or forward-looking information in this press release.

Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

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