Mr. Patrick Power reports

LAKE WINN RESOURCES ANNOUNCES CORPORATE UPDATES

Lake Winn Resources Corp. has provided the following updates.

Private placement upsize

On Sept. 10, 2026, the company announced a non-brokered private placement of up to $180,000. The offering is expected to consist of units at a price of six cents per unit. Each unit will consist of one common share in the capital of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder thereof to acquire one common share at a price per warrant share of 10 cents for a period of 60 months from the date of issuance. The net proceeds from the offering are expected to be used for general working capital.

The company wishes to upsize the offering from up to three million units for proceeds of $180,000 to up to five million units for proceeds of $300,000. The company has not yet filed for conditional approval of the offering with the TSX Venture Exchange. The company intends to: (i) file for conditional approval in due course; and (ii) close the offering on or before Oct. 30, 2026.

Switchback option

On June 8, 2026, the company announced the proposed acquisition of the Silver Switchback copper-silver project in British Columbia from arm's-length third parties for consideration of 2.8 million common shares and total cash payments of $435,000.

Subject to closing of the $3-million offering (as defined below), the company intends to close the option acquisition prior to the end of the calendar year.

Private placement for up to $3-million

Concurrently with the announcement of the option acquisition, the company announced a non-brokered private placement of up to $3-million. The net proceeds from the $3-million offering are expected to be used, in part, to finance the company's planned 2026 exploration programs at the Little Nahanni pegmatite group and the Switchback project, including the initial cash payment obligations, and for general working capital and related transaction costs. The $3-million offering is expected to consist of units of the company, with each unit comprising one common share and one common share purchase warrant.

The company will be proceeding with the $3-million offering at a later date. Pricing of the $3-million offering, including the terms of the common share purchase warrants, will be determined on or about such date. Additional details regarding the $3-million offering, including any finders' fees payable, closing conditions and applicable hold periods, will be provided in the pricing announcement and the closing news release.

Completion of the option acquisition, the $3-million offering and the offering is subject to the receipt of necessary approvals, including the acceptance of the TSX Venture Exchange.

All securities issued in connection with the offering, the $3-million offering and the option acquisition, including the common shares to be issued as consideration for the option acquisition, will be issued pursuant to available prospectus exemptions and will be subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable Canadian securities laws.

About Lake Winn Resources Corp.

Lake Winn Resources is a Canadian mineral exploration company focused on advancing its 100-per-cent-owned Little Nahanni pegmatite group (LNPG) project in the Northwest Territories near the Yukon border. The LNPG project is a lithium-cesium-tantalum pegmatite system supported by historical drilling, channel sampling, geophysical work and geochemical sampling that have identified lithium, tantalum, cesium and tin mineralization.

We seek Safe Harbor.