StrikePoint Announces Upsize of Bought Deal Private Placement to C$160 Million

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** Not for distribution in the United States of America or to U.S. Newswire services **

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VANCOUVER, British Columbia, Aug. 20, 2026 (GLOBE NEWSWIRE) — (SKP: TSX.V) (STKXF: OTCQB) StrikePoint Gold Inc. (“StrikePoint” or the “Company”) is pleased to announce that as a result of strong investor demand, the Company has amended its agreement with Canaccord Genuity Corp. (the “Underwriter”), to increase the size of its previously announced “bought deal” private placement to 80,000,000 subscription receipts of 1599042 B.C. Ltd. (“FinCo”) at a price of C$2.00 per subscription receipt (the “Offering Price”) for gross proceeds of $160,000,000 (the “Brokered Offering”).

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The Company shall grant the Underwriter an option to purchase up to an additional 15,000,000 subscription receipts at the Offering Price for additional gross proceeds of up to C$30,000,000 exercisable at any time up to 48 hours prior to the closing of the Brokered Offering. Each Subscription Receipt will entitle the holder thereof to receive one post-Consolidation common share in the capital of the Company (each, a “Share”) without any additional consideration or further action upon satisfaction of the Escrow Release Conditions (as defined below).

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The net proceeds from the Brokered Offering will be used to satisfy the cash component of the Transaction, as such term is defined in the Company’s press release dated August 19, 2026, to advance exploration and development activities at the Northumberland project, and for general corporate purposes (less than 10%).

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The gross proceeds from the Brokered Offering, less certain expenses of the Underwriter (the “Escrowed Proceeds”) will be placed into escrow, subject to the completion or satisfaction of all escrow release conditions, including, among other things, the completion or satisfaction of all conditions precedent included in the Agreement and the receipt of all required corporate and regulatory approvals in connection with the Transaction (collectively, the “Escrow Release Conditions”) to be set out in a subscription receipt agreement to be entered into on or about the closing date of the Brokered Offering between the Company, FinCo, the Underwriter, and an escrow agent (the “Escrow Agent”). Provided that the Escrow Release Conditions are satisfied or waived (where permitted) prior to 5:00 p.m. (Toronto time) on the date that is 45 days following closing of the Brokered Offering (the “Escrow Release Deadline”), the Underwriter’s fees will be released to the Underwriter from the Escrowed Proceeds, and the balance of the Escrowed Proceeds (less certain expenses of the Escrow Agent) will be released to the Company, and each Subscription Receipt shall be automatically converted into one Share of the Company upon the amalgamation of FinCo and HoldCo, pursuant to an amalgamation agreement to be entered into among the Company, Finco, and HoldCo. In the event that the Escrow Release Conditions are not satisfied by the Escrow Release Deadline, the Escrow Agent shall return to the holders of the Subscription Receipts an amount equal to the aggregate offering price of the Subscription Receipts held by each such holder and their pro-rata portion of any interest or other income earned on the Escrowed Proceeds and the Subscription Receipts will be cancelled.

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All securities issued pursuant to the Brokered Offering will be subject to the private company “indefinite” hold period set out in National Instrument 45-102 – Resale of Securities (“NI 45-102”). Upon satisfaction of the Escrow Release Conditions and the exchange of Subscription Receipts, the underlying Shares shall not be subject to any hold period set out in NI 45-102.

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Certain directors, officers, and other insiders of the Company (collectively, the “Participating Insiders”) are expected to participate in the Brokered Offering. Each issuance by the Company of securities to a Participating Insider in connection with the issuance of Subscription Receipts of FinCo to the Participating Insiders under the Brokered Offering is considered a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is exempt from the formal valuation and minority shareholder approval requirements under MI 61-101 in reliance on the exemptions set out in sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101 as the fair market value of such transactions, insofar as they involve related parties, is not more than 25% of the Company’s market capitalization. The Company will not be in a position to file a material change report 21 days prior to the expected closing of the Brokered Offering because the terms of the Brokered Offering and insider participation will not yet have been established by that time, and the Company is electing to proceed with the Brokered Offering as expeditiously as possible.