Vancouver, British Columbia--(Newsfile Corp. - August 31, 2026) - Red Lake Gold Inc. (CSE: RGLD) ("Red Lake Gold" or the "Corporation" or the "Issuer") announces that it intends to complete a non-brokered private placement of up to 5,000,000 common shares of the Corporation (the "Common Shares") at a price of $0.075 per Common Share for gross proceeds of up to $375,000 (the "Offering").

The Offering may be completed in one or more tranches. The Corporation intends to use the net proceeds of the Offering for general working capital, the satisfaction of ongoing corporate obligations and exploration work at the Corporation's mineral properties.

Certain insiders of the Corporation may participate in the Offering for up to 25% of the Offering. No new insider or control person is expected to be created as a result of the Offering.

To the extent that insiders participate in the Offering, their participation will constitute a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Corporation expects to rely on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a), respectively, as the fair market value of the Common Shares to be issued to insiders, and the consideration to be paid by insiders, will not exceed 25% of the Corporation's market capitalization.

The Corporation may pay finder's fees in connection with the Offering in accordance with applicable securities laws and the policies of the Canadian Securities Exchange (the "CSE"). Completion of the Offering remains subject to receipt of all required regulatory approvals, including acceptance by the CSE.

All Common Shares issued under the Offering will be subject to a statutory hold period of four months and one day from the applicable closing date.

About Red Lake Gold Inc.

Red Lake Gold Inc. (CSE: RGLD) is focused on advancing mineral exploration, including through mining claims that it holds in differing locations within Ontario, Canada.

Forward-Looking Information

This news release contains forward-looking information regarding the Offering, including the number of Common Shares that may be issued, the gross proceeds that may be raised, anticipated insider participation, the potential payment of finder's fees, the timing and completion of the Offering, the receipt of required regulatory approvals and the intended use of proceeds. Such forward-looking information is based on management's current expectations and assumptions, including assumptions regarding subscriber interest, prevailing market conditions and the receipt of required regulatory approvals.

Actual results may differ materially due to the risk that the Offering may not be completed on the terms contemplated or at all, changes in the Corporation's financial position or business priorities, the availability of financing, regulatory developments, exploration risks and general economic and market conditions. Readers are cautioned not to place undue reliance on forward-looking information. The Corporation undertakes no obligation to update such information except as required by applicable securities laws.

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE Exchange) accepts responsibility for the adequacy or accuracy of this release.

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES

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