Alaros Exploration closes acquisition of Nevada tungsten properties

Delta, British Columbia--(Newsfile Corp. - July 13, 2026) - Alaros Exploration Inc. (CSE: ALAR) (the " Company "), is pleased to announce it has completed its previously announced acquisition of certain exploration leases for tungsten properties located in the state of Nevada, USA (the " Transaction ", and such properties, the " Properties "), by acquiring 1001528518 Ontario Inc. (the " Target ") pursuant to a share exchange agreement entered into on May 20, 2026 (the " Share Exchange Agreement "). Pursuant to the Share Exchange Agreement, the Company acquired all of the issued and outstanding shares of the Target, resulting in the Target becoming a wholly owned subsidiary of the Company. As consideration for the acquisition of the Target, the Company issued an aggregate of 10.5 million common shares in the capital of the Company (the " Consideration Shares ") to the shareholders of the Target at a deemed issuance price of CDN $0.05 per share, for total aggregate compensation of CDN $525,000.

The Properties comprise the Toy Property, consisting of 5 claims located in Churchill County, Nevada, and the Nightingale Property, consisting of approximately 221 acres in the Nightingale District within Pershing County, Nevada. The Nightingale district has a rich mining history dating back to the 1920s, when several small but high-grade tungsten mines operated along the approximately 7 km mineralised trend. Both properties have excellent year-round access via state and secondary roads, and close infrastructures within Churchill and Pershing Counties and the nearby (72 air km) city of Reno, Nevada.

The Target signed exploration leases (with options to purchase) with Blacklight Holdings LLC of Nevado, the owner of the Properties, in April, 2026. Pursuant to such agreements, the Target (now the Company) is required to make annual leasing payments of USD $50,000 over six years, and at any time during the term of the lease can purchase the Properties for USD $1.4 million. Blacklight Holdings LLC acquired the Properties in January 2014.

To date, only limited routine exploration work has been done on the Properties. The Company is also pleased to announce the completion and filing of a National Instrument 43-101 Standards of Disclosure for Mineral Projects (" NI 43-101 ") compliant Technical Report (the " Report ") for the Nightingale Property. The Report, titled "Technical Report Nightingale Tungsten-Silver-Copper Property, Pershing County, Nevada, USA" with an effective date of June 1, 2026, has been filed under the Company's profile on SEDAR+ ( www.sedarplus.ca ).

The Report is authored by Greg Ferddock, Certified Professional Geologist, a "Qualified Person" (as that term is defined under NI 43-101) who is independent of the Company. The Company intends to complete and file a Business Acquisition Report in respect of the Transaction, in compliance with National Instrument 51-102 (the " BAR "). The Consideration Shares will be issued with a hold period such that they may not be traded until the day that is the greater of (i) four months from their date of issuance, and (ii) ten trading days following the filing the BAR.