Scottie Resources Announces Closing of Second and Final Tranche of Non-Brokered Private Placement

In connection with the Second Tranche, the Company paid cash finder's fees of C$103,530.00 and issued 35,700 finder's warrants (the "Finder's Warrants"). Each Finder's Warrant entitles the holder thereof to purchase one common share of the Company at C$2.90 for a period of 24 months expiring on October 22, 2028.

The Company has issued an aggregate of 24,175 Flow-Through Shares pursuant to the Second Tranche to certain "related parties" of the Company (the "Interested Parties"), in each case constituting, to that extent, a "related party transaction" as defined under Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions ("MI 61-101"). The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the participation of the Interested Parties in the Non-Brokered Offering in reliance on sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the Non-Brokered Offering nor the securities issued in connection therewith, insofar as the Non-Brokered Offering involves the Interested Parties, exceeds 25% of the Company's market capitalization. The Company did not file a material change report more than 21 days before the expected closing of the Non-Brokered Offering as the details of the Non-Brokered Offering and the participation by the Interested Parties therein were not settled until recently and the Company wishes to close on an expedited basis for sound business reasons.

The Offered Shares were offered on a private placement basis pursuant to exemptions from prospectus requirements under applicable securities laws and are subject to a statutory hold period expiring on February 23, 2027.

The net proceeds from the issue and sale of the Non-Brokered Shares will be used for working capital and general corporate purposes, including work related to the technical studies and permitting currently underway at the Scottie Gold Mine Project.

The gross proceeds from the issue and sale of the Flow-Through Shares will be used by the Company to incur eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures" as such terms are defined in the Income Tax Act (Canada) (the "Qualifying Expenditures") related to the Scottie Gold Mine Project in British Columbia. Qualifying Expenditures with respect to the Flow-Through Shares will also qualify as "BC flow-through mining expenditures" as such term is defined in the Income Tax Act (British Columbia). All Qualifying Expenditures will be renounced in favour of the subscribers for the Flow-Through Shares effective on or before December 31, 2026.

In total, the Non-Brokered Offering raised aggregate gross proceeds of C$14,921,111.80 through the issuance of 322,581 Flow-Through Shares and 4,800,383 Non-Brokered Shares. The Non-Brokered Offering, together with the Company's brokered offering of common shares of the Company (which closed on October 9, 2026) resulted in the issuance of an aggregate of 8,183,239 common shares of the Company (including 322,581 Flow-Through Shares) and raised aggregate gross proceeds of C$23,795,909.30 The Non-Brokered Offering remains subject to final acceptance from the TSX Venture Exchange.

This press release does not constitute an offer of sale of any of the Offered Shares in the United States. None of the foregoing securities have been or will be registered under the U.S. Securities Act of 1933, as amended (the "1933 Act"), or any applicable state securities laws and the foregoing securities may not be offered or sold in the United States or to persons in the United States absent registration or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of the foregoing securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.

ABOUT SCOTTIE RESOURCES CORP.

Scottie Resources holds a 100% interest in the Scottie Gold Mine Property, which includes the high-grade, past-producing Scottie Gold Mine and the adjacent Blueberry Contact Zone. The Company also owns a 100% interest in the Georgia Project, host to the past-producing Georgia River Mine, as well as the Cambria, Sulu, and Tide North properties. In total, Scottie controls approximately 58,500 hectares of highly prospective mineral claims within the Stewart Mining Camp in British Columbia's Golden Triangle-one of the world's most prolific mineralized districts.

Scottie's current resource estimate on the Scottie Gold Mine Project includes a total of 703,000 gold ounces at an average grade of 6.1 g/t (Inferred category) in 3.6 million tonnes, highlighting the development potential for a significant near-surface, high-grade deposit. The Company's strategy is to continue expanding this resource and to define additional mineralization around past-producing mines through systematic drilling and surface exploration.

The Company has recently completed a PEA for the Scottie Gold Mine (Bird et al., October 28, 2025, Scottie Gold Mine Project, SEDAR+). The PEA outlines a robust ore sorting and Direct-Ship Ore (DSO) development scenario with strong economics and significant upside through a potential toll-milling option utilizing excess capacity at the nearby Premier mill. The base case DSO project delivers an after-tax NPV(5%) of $215.8-$668.3 million at gold prices of US$2,600-$4,200/oz, respectively. Under the toll-milling scenario, project economics improve substantially, with an after-tax NPV(5%) of $380-$832 million (no agreement currently in place). The PEA estimates initial capital costs of $129 million, average annual production of ~65,400 oz gold over seven years, and a payback period of 1.7 years for the after-tax DSO case-reduced to just 0.9 years under the toll-milling opportunity at US$2,600/oz.

Forward-Looking Statements

This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this news release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. These forward-looking statements include, among other things, statements relating to the receipt of required regulatory approvals, including the final approval of the TSX Venture Exchange; and the anticipated use of the net proceeds from the Non-Brokered Offering, including the incurrence and renunciation of Qualifying Expenditures.

Such forward-looking statements are based on a number of assumptions of management, including, without limitation, that all required regulatory approvals, including the final approval of the TSX Venture Exchange, will be obtained; that the net proceeds from the Non-Brokered Offering will be applied as anticipated; and that the Company will be able to incur and renounce the Qualifying Expenditures as anticipated. Additionally, forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: risks associated with the business of the Company and mineral exploration and development generally, the failure to obtain required regulatory approvals, including the final approval of the TSX Venture Exchange; the actual use of proceeds differing from the anticipated use of proceeds; the inability of the Company to incur or renounce the Qualifying Expenditures as anticipated; and other risk factors detailed from time to time in the Company's filings with Canadian securities regulators on SEDAR+ in Canada (available at www.sedarplus.ca).

Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this news release. Neither the Company nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this news release by you or any of your representatives or for omissions from the information in this news release.

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