Mr. Jason Tong reports

EXGEN ANNOUNCES CLOSING OF SPARK NORTH LITHIUM PROJECT ACQUISITION

Further to ExGen Resources Inc.'s previous news release dated Jan. 29, 2025, ExGen has closed the acquisition of the Spark North lithium project in Elko county, Nevada, consisting of 111 claims totalling approximately 2,300 acres prospective for lithium from an arm's-length private company (the vendor), subject to final approval of the TSX Venture Exchange. The acquisition was completed pursuant to a purchase agreement dated Jan. 21, 2025.

Pursuant to the purchase agreement, the company paid a total of $250,000 cash consideration and issued to the vendor five million common shares in the capital of ExGen. The ExGen shares were issued with a standard statutory hold period that expires on July 13, 2025. ExGen also granted the vendor a 1.5-per-cent net smelter royalty (NSR) in favour of the vendor, with a 0.75-per-cent NSR buyback (half of the NSR) at ExGen's option for $1-million. No finders' fees were paid in connection with the acquisition.

About ExGen Resources Inc.

ExGen, formerly Boxxer Gold Corp., is a project accelerator that seeks to finance exploration and development of its projects through joint ventures and partnership agreements. This approach significantly reduces the technical and financial risks for ExGen, while maintaining the upside exposure to new discoveries and potential cash flow. The company intends to build a diverse portfolio of projects across exploration stages and various commodity groups. ExGen currently has five projects in Canada and the United States.

We seek Safe Harbor.