Fox River obtains final order on Avenir Minerals arrangement

TORONTO, ON / ACCESS Newswire / June 24, 2026 / Fox River Resources Corporation (CSE:FOX) (" Fox River " or the " Company ") is pleased to announce that it has obtained a final order (the " Final Order ") of the Ontario Superior Court of Justice (Commercial List) approving the previously announced plan of arrangement (the " Arrangement "), pursuant to which Avenir Minerals Limited (" Avenir ") will acquire all of the issued and outstanding common shares of Fox River (" Common Shares ") (other than Common Shares held by Avenir or any of its affiliates) for cash consideration of $1.10 for each Common Share held. As previously announced, the Arrangement was approved by the holders of Common Shares (the " Shareholders ") and holders of options to purchase Common Shares (the " Optionholders " and, together with the Shareholders, the " Securityholders ") at a special meeting of the Securityholders held on June 23, 2026. Completion of the Arrangement remains subject to the satisfaction or waiver of certain other customary conditions to closing of the Arrangement as set out in the arrangement agreement dated May 4, 2026 between Fox River and Avenir (the " Arrangement Agreement ").

Assuming that the conditions to closing are satisfied or waived, it is expected that the Arrangement will be completed on or about July 2, 2026. Further information regarding the Arrangement is provided in Fox River's management information circular dated May 21, 2026 and the Company's news releases dated June 12, 2026, June 17, 2026 and June 23, 2026, copies of which are available on SEDAR+ under Fox River's issuer profile at www.sedarplus.ca and on Fox River's website at www.fox-river.ca. About Fox River Resources Fox River holds a 100% interest in the Martison Phosphate Project near Hearst, Ontario.

Planned as a vertically integrated operation, the project harnesses a high-grade, large-scale igneous phosphate deposit - capable of providing secure domestic supplies of phosphate fertilizers as well as PPA for the LFP battery industry. The project's Anomaly A deposit underpins a positive preliminary economic assessment with an effective date of April 21, 2022. More information is available at www.fox-river.ca or via Fox River's SEDAR+ profile.

On behalf of Fox River Resources Corporation Stephen D. Case, President, Chief Executive Officer and Director For more information, please contact: Stephen D. Case President, Chief Executive Officer and Director Fox River Resources Corporation 141 Adelaide Street West, Suite 301 Toronto, Ontario M5H 3L5 416-972-9222 Email: info@fox-river.ca Website: www.fox-river.ca Cautionary Statement Regarding Forward-Looking Statements Certain of the statements and information in this news release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian provincial securities laws. Forward-looking statements and information can be identified by statements that certain actions, events or results "could", "may", "should", "will" or "would" be taken, occur or achieved. All statements, other than statements of historical fact, are forward-looking statements or information.