Kintavar to Purchase Au-Cu Roger Project from XXIX Metal Corp. and Orecap Invest Corp. and Announces Change in Management

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In order to allow the Corporation and its shareholders to benefit from the increased interest in gold exploration due to the all-time high gold prices, a management change will take place on closing of the Transaction. Mr. Kiril Mugerman, President & CEO of Kintavar Exploration and Mr. Mathieu Bourdeau, CFO of Kintavar Exploration, will be replaced. A new management team is currently being evaluated, and further information will be provided in a timely manner. Mr. Kiril Mugerman will remain a Director of the Corporation. Furthermore, the Vendors may appoint up to two total board nominees to the board of directors of the Corporation in connection with the Transaction.

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In addition, Maxime Lemieux and Genevieve Ayotte will not be running for re-election at the upcoming Annual Shareholders Meeting which is scheduled to take place on May 28, 2025.

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Until new management is announced, the Corporation plans to continue its exploration activities on its properties and providing exploration services while evaluating other properties that become available.

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QP Statement
Pierre-Luc Lalonde, P. Geo., a qualified person as defined by NI 43-101, supervised and approved the preparation of the technical information in this press release.

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About Kintavar Exploration & the Mitchi – Wabash Properties

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Kintavar Exploration is a Canadian mineral exploration corporation engaged in the acquisition, assessment, exploration and development of gold and base metal mineral properties. Its flagship project is the Mitchi – Wabash copper-silver district (approx. 39 000 hectares, 100% owned) located 100 km north of the town of Mont-Laurier and 15 km East of the town of Parent in Quebec. Both properties cover an area of more than 300 km² accessible by a network of logging and gravel roads with access to hydro-electric power already on site, major regional roads including railroad and a spur. The properties are located in the north-western portion of the central metasedimentary belt of the Grenville geological province. The projects primarily focus on sediment-hosted stratiform copper type mineralization (SSC) but include Iron Oxide Copper Gold (IOCG) and skarn type targets. Osisko holds a 2% NSR on 27 claims of the southern portion of the Mitchi property, outside of the sedimentary basin. Kintavar also has exposure in the gold greenstones of Quebec by advancing the Anik Gold Project in a partnership with IAMGOLD.

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For further information contact:

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NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES IN THE UNITED STATES. THE SECURITIES HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “U.S. SECURITIES ACT”) OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED UNDER THE U.S. SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE. THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER OR SALE OF SECURITIES IN THE UNITED STATES.

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Forward looking Statements:

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This press release contains forward-looking statements. Forward-looking statements can be identified by the use of words such as, “subject to”, or variations of such words and phrases or state that certain actions, events or results “may” or “will” be taken, occur or be achieved. Forward-looking statements in this press release include statements regarding: the anticipated closing of the Transaction, the issuance of the Common Shares to satisfy the Purchase Price, the exploration plans of the Corporation as it relates to the Rogers Property and their current assets, and the receipt of approvals related to the Transaction. These forward-looking statements are based on assumptions, including the successful completion of the Transaction, receipt of the applicable approvals for the proposed Transaction, the execution of the exploration strategy by management of the Corporation, no adverse changes in the regulatory regime applicable to the Corporation, the satisfaction of all conditions to the APA, commodity prices, and general market and economic stability. The actual results may be materially different from any future expectations expressed or implied by the forward-looking statements. The forward-looking statements can be affected by known and unknown risks, uncertainties, and other factors, including, but not limited to, the equity markets generally, a failure to obtain the necessary approval from the TSXV or shareholders of the Corporation, the inability of management to execute its strategy as it comes to its exploration properties, instability in commodity or markets, and reliance on key personnel. Accordingly, readers should not place undue reliance on forward-looking statements. Except as required by law, the Corporation undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

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

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