Early Warning Report and News Release Regarding Securities of Red Lake Gold Inc.

This press release is issued pursuant to Multilateral Instrument 62-104 - Take-Over Bids and Issuer Bids and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.

Calgary, Alberta--(Newsfile Corp. - April 22, 2026) - Ryan Kalt (the "Acquiror") reports common share divestments in Red Lake Gold Inc. (the "Issuer") by way of the sale, on a direct basis, of 3,299,500 common shares (the "Divested Securities") - with 2,350,000 common shares thereof having been sold today, April 22, 2026 -providing for an Early Warning Report (Form 62-103F1) filed on SEDAR+ and referenced herein, and originating this news release.

The Divested Securities were sold for an average approximate price of $0.0164 (aggregate proceeds of $54,240) and represent approximately 6.53% of the common shares of the Issuer (based on the Issuer having 50,539,169 common shares issued).

Before selling the Divested Securities, the Acquiror held 15,335,500 common shares then representing approximately 30.34% of the Issuer (alongside 14,200,000 share warrants, direct and indirect, and 700,000 stock options, direct, then being a 46.20% diluted holding, if collectively exercised).

After selling the Divested Securities, the Acquiror now holds 12,036,000 common shares, representing approximately 23.82% of the Issuer (alongside 14,200,000 share warrants, direct and indirect, and 700,000 stock options, direct, being a 41.16% diluted holding, if collectively exercised).

The Acquiror may sell securities of the Issuer either on the open market or through private dispositions in the future or may acquire securities of the Issuer either on the open market or through private acquisitions in the future depending upon market conditions, the Acquiror's investment objectives and/or other relevant factors. Other than the foregoing or as publicly filed, the Acquiror does not have plans or any future intentions which relate to or would result in any of the other foregoing matters.

"Ryan Kalt"

Ryan Kalt

The Form 62-103F1 - Required Disclosure under the Early Warning Requirements associated with this news release can be obtained from SEDAR+ www.sedarplus.ca. Alternatively, to obtain copy of the report, reach Mr. Kalt at 1.403.454.2984 or c/o 1001 1 St SE, Suite 200, Calgary, AB T2G 5G3.

The Canadian Securities Exchange (CSE) has not reviewed, approved or disapproved of the contents of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/293910