Elton Resources commences trading on TSXV

Vancouver, British Columbia--(Newsfile Corp. - October 6, 2026) - Further to its news releases dated April 16, 2026, May 27, 2026, July 16, 2026, September 11, 2026, September 23, 2026 and September 29, 2026, Elton Resources Corp. (TSXV: DBAY) (formerly, Chicane Capital I Corp.) (the " Company ") is pleased to announce that the common shares of the Company (CUSIP 29035T302 / ISIN CA29035T3029) have commenced trading on the TSX Venture Exchange (" TSXV ") under the symbol "DBAY" at market open on October 6, 2026. The Company is focused on the exploration and development of its flagship Darnley Bay Project (" Darnley Bay " or " Project ") which is located in Northwest Territories, Canada.

Mr. Carson Phillips, Chief Executive Officer of the Company , commented: "We believe Darnley Bay represents one of the most compelling geophysical anomalies in the world, and the closing of this transaction marks a historical moment for the Project. The scale and intensity of the Darnley Bay anomaly have attracted scientific and exploration interest for decades, yet the fundamental question of what lies beneath Darnley Bay has remained unanswered. In 2018, a Magnetotellurics survey not only identified the source of the anomaly but it also identified over ten large-scale targets across the project area, demonstrating clear district-scale potential. For the first time, we plan to advance these targets with the focused capital, technical expertise, and a robust drilling program that an anomaly of this magnitude deserves."

Darnley Bay Project

Darnley Bay is host to a large gravity and magnetic anomaly (the " Anomaly ") and is considered to be one of the strongest isolated gravity anomalies in the world¹. The Darnley Bay Anomaly exhibits a measured gravity amplitude of 132 mGal, with dimensions of 80 km x 100 km, and a coincident magnetic anomaly with an amplitude of 1,350 nT 2 . The Anomaly is considered prospective for nickel-copper-platinum group elements (Ni Cu-PGE) 2 . Its source has drawn favourable comparisons to the prolific mining camps of Sudbury (Canada), Noril'sk (Russia) and the Bushveld Complex (South Africa) by the Geological Survey of Canada, geological consultants and major mining companies². In July 2018, a Magnetotelluric survey was completed by Quantec Geoscience over a 40 x 50 km area on the Anomaly 3 . The results identified several targets that are expected to be followed up through the Company's future exploration drill program.

Market Making Agreement

The Company is also pleased to announce that it has engaged the services of ICP Securities Inc. (" ICP ") to provide automated market making services, including use of its proprietary algorithm, ICP Premium® in compliance with the policies and guidelines of the TSXV and other applicable legislation. ICP will be paid a monthly fee of C$7,500, plus applicable taxes. The agreement between the Company and ICP was signed with a start date of October 1, 2026, and is for four (4) months (the " Initial Term ") and shall be automatically renewed for subsequent one (1) month terms (each month called an " Additional Term ") unless either party provides at least thirty (30) days written notice prior to the end of the Initial Term or an Additional Term, as applicable. There are no performance factors contained in the agreement and no Options or other compensation in connection with the engagement. ICP and its clients may acquire an interest in the securities of the Company in the future.

ICP is an arm's length party to the Company. ICP's market making activity will be primarily to correct temporary imbalances in the supply and demand of the Company's shares. ICP will be responsible for the costs it incurs in buying and selling the Company's shares, and no third party will be providing funds or securities for the market making activities.

About ICP Securities Inc.

ICP Securities Inc. is a Toronto based CIRO dealer-member that specializes in automated market making and liquidity provision, as well as having a proprietary market making algorithm, ICP Premium®, that enhances liquidity and quote health. Established in 2023, with a focus on market structure, execution, and trading, ICP has leveraged its own proprietary technology to deliver high quality liquidity provision and execution services to a broad array of public issuers and institutional investors.

Grant of Options

The Company also announces that as disclosed in its filing statement dated September 23, 2026 (the " Filing Statement "), a copy of which is available under its SEDAR+ profile at www.sedarplus.ca , the Company has granted an aggregate of 12,720,378 incentive stock options (" Options ") to certain eligible participants, including certain directors, officers and consultants of the Company, under the Company's equity incentive plan (the " Plan "). Each Option vests immediately and shall be exercisable to acquire one common share of the Company for a period of 10 years at an exercise price of $0.20.

Qualified Person

The scientific and technical information in this press release has been reviewed and approved by David White, P.Geo., a qualified person as such term is defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

About Elton Resources Corp.

The Company is a mining exploration company focused on the exploration and development of the Darnley Bay project in Northwest Territories, Canada. The Company trades on the TSX Venture Exchange under the symbol "DBAY". For more information, please visit www.eltonresources.com .

Further Information

For further information, please contact:

Elton Resources Corp c/o Suite 2600, 1066 West Hastings Street Vancouver, British Columbia V6E 3X1 Canada

Contact: Carson Phillips Telephone: 604-657-5871

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

Investors are cautioned that, except as disclosed in the Filing Statement prepared in connection with the Company's qualifying transaction, any information released or received with respect to the Company's qualifying transaction may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered highly speculative.

The TSXV has in no way passed upon the merits of the Company's qualifying transaction and has neither approved nor disapproved of the contents of this press release.

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions. Forward-looking information in this news release includes, but is not limited to, statements about: the market making services to be provided by ICP and the Company's future exploration work and strategy as well as any results that may be derived therefrom.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances at the date such statements are made. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

Footnotes

1 Goldak, David K. and Olson, Ryan W., 2015, New developments in audio-magnetotelluric exploration: Case study from Darnley Bay area, N.W.T., CSEG Recorder, Volume 40, No. 2, February 2015.

2 Reford, Stephen W., 2012, Report on the Darnley Bay Anomaly Project, Inuvialuit 7(1)(a) Mineral Concession at Paulatuk and Prospecting Permits 7669, 7670, 7793, 7794, 7795, 7796, 7797, 7798, 7799, 7800, 7801, 7802, 7803, 7804, 7805, 7806, 7807, 7808, 43-101 Technical Report, Darnley Bay Resources Limited; and GSC Open file Report 2789 (Jefferson et al., 1994).

3 Perera, Saman and Hearst, R.H., 2018, Geophysical report for Spartan MT survey over the Darnley Bay Project (Paulatuk, NWT) on behalf of Generation Mining Ltd.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/317653

TMX Newsfile

October 6, 2026 - 8:20 AM PDT

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