Mr. Martin Walter reports

CARLTON PRECIOUS ANNOUNCES FURTHER UPSIZE TO PRIVATE PLACEMENT

Further to the press releases of May 12, 2025, and May 23, 2025, Carlton Precious Inc. has increased its non-brokered private placement to up to 18.7 million units in the capital of the company at a price of nine cents per unit for gross proceeds of up to $1,683,000. Each unit shall be composed of one common share in capital of the company and one-half of one whole common share purchase warrant. Each warrant entitles the holder therefor to acquire one common share at a price of 12 cents per common share for a period of 24 months from the date of issuance.

In connection with the private placement, the company may pay certain eligible persons a cash commission equal to 7 per cent of the gross proceeds of the private placement and issue broker warrants equal to 7 per cent of the number of units issued pursuant to the private placement. Each broker warrant entitles the holder thereof to acquire one common share at a price of nine cents per common share for a period of 24 months from the date of issuance. In addition, certain eligible finders shall receive units equal to 7 per cent of the number of units issued pursuant to the private placement.

Net proceeds of the private placement will be utilized to commence a drilling program at the company's wholly owned Esquilache project in Peru and for general working capital purposes.

All securities issued in connection with the private placement will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation.

About Carlton Precious Inc.

Carlton Precious is a publicly traded precious and base metal exploration company listed on the TSX Venture Exchange. The company is managed by a team of experienced mining and geological professionals. Carlton Precious's projects are focused on key mining jurisdictions, including Peru and Australia (central Victoria and Tasmania).

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