Argyle closes LIFE offering and private placement

Calgary, Alberta--(Newsfile Corp. - September 2, 2026) - Argyle Resources Corp. (CSE: ARGL) (OTCQB: ARLYF) (FSE: ME00) (" Argyle " or the " Company ") is pleased to announce that it has closed its previously announced offering of units of the Company (" LIFE Units ") pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions (the " LIFE Offering ") and concurrent non-brokered private placement (the " Private Placement ", and together with the LIFE Offering, the " Offerings ") of units of the Company (" Units ") for aggregate gross proceeds of C$1,209,800.

Pursuant to the Offerings, a total of:

2,565,000 LIFE Units were issued at a price of C$0.23 per LIFE Unit for gross proceeds of C$589,950. Each LIFE Unit consists of one common share in the capital of the Company (a " Common Share ") and one Common Share purchase warrant (a " LIFE Warrant "). Each LIFE Warrant entitles the holder to purchase one Common Share at an exercise price of C$0.31 for a period of 24 months from the date of issuance. The LIFE Warrants will not be exercisable until 60 days after the closing date of the LIFE Offering; and

2,695,000 Units were issued at a price of C$0.23 per Unit for gross proceeds of C$619,850. Each Unit consists of one Common Share and one Common Share purchase warrant (a " Warrant "). Each Warrant entitles the holder to purchase one Common Share at an exercise price of C$0.31 for a period of 24 months from the date of issuance.

The Units issued under the LIFE Offering are not subject to resale restrictions pursuant to applicable securities laws. All securities issued in connection with the Private Placement are subject to a statutory hold period of four months and one day and an exchange hold period of four months from the date of issuance.

As consideration for services rendered by certain finders, the Company paid, in aggregate, a cash fee of C$120,980 and issued 526,000 common share purchase warrants (" Finder's Warrants "). Each Finder's Warrant is exercisable for one Common Share at a price of C$0.31 for a period of 24 months.

The net proceeds of the Offerings will be used for mineral property exploration activities and expenditures, general working capital purposes, and legal and accounting expenses.

The securities offered pursuant to the Offerings have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the " U.S. Securities Act ") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

In addition, the Company has granted 1,600,000 stock options ("Options") to certain directors and officers, pursuant to its Omnibus Incentive Plan, at an exercise price of $0.23 per share. The Options will be exercisable for a period of five years and will vest 4 months and a day from issuance.