Kirkstone signs LOI to acquire Key Lake Road project

Mr. Clive Massey reports KIRKSTONE METALS ENTERS INTO ADVANCED NEGOTIATIONS TO ACQUIRE KEY LAKE URANIUM PROJECT Kirkstone Metals Corp. has entered into a non-binding letter of intent with an arm's-length vendor to acquire a 100-per-cent interest in the Key Lake Road (KLR) uranium project, located in Saskatchewan's world-renowned Athabasca basin. Under the terms of the LOI, Kirkstone may acquire its interest in the project by completing a series of cash payments and exploration expenditures over a three-year period and by granting a 3-per-cent net smelter returns royalty, subject to a buyout provision. The LOI also provides for a due diligence period, during which Kirkstone will conduct a full technical and legal review of the project. About the KLR uranium project The KLR uranium project covers an area of approximately 5,521 hectares along the Key Lake Road, approximately 90 kilometres south of Cameco's Key Lake mine and mill, where over 209 million pounds of uranium were produced between 1983 and 2002. The property lies almost entirely within the Wollaston Mudjatik transition zone (WMTZ), the prolific structural corridor that also hosts the Key Lake, Cigar Lake, and McArthur River uranium deposits. Access to the project is excellent through Provincial Highway 914, which bisects the property. Historical exploration work includes helicopter-borne VTEM (versatile time-domain electromagnetic) surveys, ground magnetic and IP (induced polarization) surveys, prospecting and localized drilling programs that have outlined multiple priority drill targets. Highlights from past work include: DD zone -- six shallow holes drilled in 2023 intersected anomalous uranium enrichment increasing with depth, with best results of 642 parts per million uranium and 0.34 per cent nickel; Highway zone -- ground geophysics and man-portable drilling in 2015 identified a near-surface interval of 1.9 per cent U3O8 (triuranium octoxide) over 0.29 metre, suggesting the presence of high-grade mineralization; The current exploration model, inspired by NexGen's Arrow deposit, indicates potential for a higher-grade feeder anomaly at depth beneath the radioactive halos identified to date. Management commentary Clive Massey, president of the company, commented: "The signing of this LOI represents a continued to commitment to expand our uranium exploration portfolio in the Athabasca basin. The Key Lake Road project is ideally located in one of the world's most productive uranium districts, with excellent infrastructure and compelling exploration targets already identified. Historical results provide a strong foundation, and we believe there is significant potential to build upon these to define a higher-grade discovery." Commitment to responsible exploration The company is committed to conducting all exploration activities to the highest environmental standards and in close consultation with local stakeholders, including indigenous rights holders and communities in the region. The company recognizes the importance of respectful collaboration and sustainable practices as it advances its exploration programs. Next steps Kirkstone will conduct a full technical and legal review as the company works toward the execution of a definitive agreement. Further details of the company's exploration plans for the KLR uranium project will be announced following completion of due diligence. Readers are cautioned that the LOI does not set forth final terms for a transaction, nor have such terms been finalized. Completion of any transaction remains subject to the successful completion of due diligence, negotiation of definitive documentation and receipt of any required regulatory approvals. The company does not expect to issue any securities in connection with a transaction involving the KLR uranium project, nor are finders' fees or commissions payable by the company in connection with the entering into of the LOI. The acquisition of an interest in the KLR uranium project is not expected to constitute a fundamental acquisition for the company within the policies of the TSX Venture Exchange. Investor relations engagement The company also announces that it has engaged Lagace Capital Corp. to provide investor relations services to the company, including co-ordinating contacts with the investment community and responding to shareholder inquiries. Lagace is an arm's-length communications firm based in Vancouver, B.C., and operated by Raven Waschilowski. Lagace has been engaged for an initial three-month term commencing Oct. 1, 2025, with an option to continue the engagement on a month-to-month basis afterward. In consideration for the services, Lagace is entitled to receive a monthly cash fee of $2,000. Compensation to Lagace does not include any securities of the company, and the company is advised that neither Lagace, nor Mr. Waschilowski, presently hold any securities of the company. Qualified person The technical information in this news release has been reviewed and approved by Tim Henneberry, PGeo, a director of the company and a qualified person as defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects. Kirkstone cautions investors that it has not yet verified the historical exploration information. We seek Safe Harbor.