Corcel Exploration closes non-brokered private placement

Vancouver, British Columbia--(Newsfile Corp. - October 9, 2026) - Corcel Exploration Inc. (CSE: CRCL) (OTCQB: CRLEF) (FSE: Y67) (the "Company" or "Corcel") today announced the closing of its previously announced non-brokered private placement (the "Offering") issuing 26,765,000 units (the "Units") at a price of $0.10 per Unit for gross proceeds of CAD$2,676,500.

Each Unit will consist of one common share of the Company (each, a "Share") and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one additional Share (each, a "Warrant Share") at a price of $0.20 per Warrant Share until the date which is 24 months following the Closing Date, or October 8, 2028.

The Company intends to use the net proceeds of the Offering for exploration at its Yuma King Project in Arizona and for working capital purposes.

In connection with the Offering, the Company paid finders fees of $126,990 cash and issued 1,269,900 finder's warrants of the Company (the "Finder's Warrants") to eligible finders. Each Finder's Warrant entitles the holder thereof to purchase one Share at a price of $0.20 per Share until October 8, 2028.

All securities issued in connection with the Offering will be subject to a statutory hold period expiring February 9, 2027.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction

About Corcel Exploration Inc.

Corcel Exploration is a mineral resource company engaged in the acquisition and exploration of precious and base metals properties throughout North America. The Company has entered a long-term lease agreement to acquire the Yuma King Cu-Au project in Arizona, which spans a district-scale land position of 3,200 hectares comprising 515 unpatented federal mining claims in the Ellsworth Mining District, including the past-producing Yuma King Mine which saw underground production of copper, lead, gold and silver between 1940 and 1963. For more information, please visit our website at https://corcelexploration.com/.