Kingfisher closes strategic investment from Barrick

Vancouver, British Columbia--(Newsfile Corp. - July 28, 2026) - Kingfisher Metals Corp. (TSXV: KFR) (FSE: 9700) (OTCQB: KGFMF) (" Kingfisher " or the " Company ") today announced completion of the previously announced non-brokered private placement (the " Placement "), resulting in Barrick Mining Corporation (" Barrick ") subscribing for 15,470,934 units of Kingfisher (the " Units ") at a price of C$1.35 per Unit for gross proceeds to Kingfisher of C$20,885,761. Each Unit consisted of one common share of Kingfisher (each, a " Share ") and one-half of a common share purchase warrant (each whole warrant, a " Warrant "). Each Warrant has a term of two years and entitles the holder thereof to purchase one Share for a price of C$1.70 per Share.

With the closing of the Placement, Barrick now owns 9.9% of the issued and outstanding Shares on a non-diluted post-transaction basis and 14.1% of the outstanding Shares on a partially-diluted post-transaction basis, assuming exercise of all Warrants. The Company has agreed with Barrick to use at least 80% of the proceeds from the Placement for exploration and development of the HWY 37 project (the " HWY 37 Project ") located in British Columbia, with the balance for general working capital and other purposes. All securities issued in connection with the Placement are subject to a four-month-and-one-day statutory hold period expiring November 29, 2026 in accordance with applicable securities laws.

In connection with the Placement, Kingfisher and Barrick also entered into an investor rights agreement, all as more particularly described in the Company's news release dated July 21, 2026. Advisors Maxit Capital LP acted as financial advisor to the Company. Forooghian + Company Law Corporation acted as legal counsel to Kingfisher, and Davies Ward Phillips & Vineberg LLP and Lawson Lundell LLP acted as legal counsel to Barrick.

About Kingfisher Metals Corp. Kingfisher Metals Corp. ( https://kingfishermetals.com/ ) is a Canadian-based exploration company focused on copper-gold exploration in the Golden Triangle, British Columbia. Through outright purchases and option earn-in agreements (Orogen Royalties, Golden Ridge Resources, and Aben Gold), the Company has quickly consolidated one of the largest land positions in the Golden Triangle region with the 933 km² HWY 37 Project and the 202 km² Forrest Kerr Project. Kingfisher also owns (100%) two district-scale orogenic gold projects in British Columbia that total 641 km².

The Company currently has 156,272,063 shares outstanding as of the date of this news release. For further information, please contact: Dustin Perry, P.Geo. CEO and Director Phone: +1 778 606 2507 Email: info@kingfishermetals.com Neither the 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.

Cautionary Note Regarding Forward-Looking Statements This news release contains certain information that may be deemed "forward-looking information" with respect to the Company within the meaning of applicable securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.