ReeXploration Announces Five-for-One Share Consolidation

Halifax, Nova Scotia--(Newsfile Corp. - October 28, 2026) - ReeXploration Inc. (TSXV: REE) (FSE: K2I0) ("ReeXploration" or the "Company") announces that its board of directors (the "Board") has approved the consolidation of the Company's issued and outstanding common shares (the "Common Shares") on the basis of one (1) post-consolidation Common Share for every five (5) pre-consolidation Common Shares (the "Consolidation"). The Consolidation was approved by the Company's shareholders at its annual and special meeting held on September 28, 2026, and remains subject to the acceptance of the TSX Venture Exchange (the "TSXV"). Reason for the Consolidation The Board considers the Consolidation necessary to attract new investment. It is expected to enhance the marketability of the Company's Common Shares, appeal to a broader range of investors, and better position the Company to raise capital. Details of the Consolidation The Company currently has 135,229,107 Common Shares issued and outstanding. Following the Consolidation, the Company will have approximately 27,045,821 Common Shares issued and outstanding, subject to adjustment for rounding. No fractional Common Shares will be issued. Any fractional Common Share resulting from the Consolidation will be rounded up to the nearest whole Common Share, and no cash will be paid in lieu of fractional shares. The Company's name and trading symbol (TSXV: REE) will not change. The post-consolidation Common Shares will trade under a new CUSIP number 75865L208 and ISIN CA75865L2084. The exercise price and number of Common Shares issuable on the exercise or settlement of the Company's outstanding stock options and warrants will be adjusted proportionately in accordance with their terms. The Consolidation will not affect any shareholder's percentage ownership interest in the Company, except for minor changes resulting from the rounding of fractional shares. The Company will announce the effective date of the Consolidation, and the date on which the Common Shares will begin trading on a post-consolidation basis, by further news release once the TSXV has accepted the Consolidation. Registered and Beneficial Shareholders All registered shareholders of the Company hold their Common Shares in Direct Registration System ("DRS") form. Accordingly, no letter of transmittal will be required or mailed to registered shareholders in connection with the Consolidation. Following completion of the Consolidation, registered shareholders will automatically receive their post-consolidation Common Shares, and the Company's transfer agent, Computershare Investor Services Inc., will send each registered shareholder a DRS advice reflecting the number of post-consolidation Common Shares held. Shareholders who hold their Common Shares through a broker, investment dealer, bank or other intermediary are not required to take any action; their accounts will be updated in accordance with the intermediary's usual procedures, and any questions should be directed to their intermediary. About ReeXploration Inc. ReeXploration (TSXV: REE) (FSE: K2I0) is a Canadian exploration company advancing the Eureka Project in central Namibia. Eureka combines rare earth exploration, supported by the production of a clean monazite concentrate, with uranium exploration in an established uranium region. The Company is evaluating both opportunities through geological work and targeted exploration. Caution Regarding Forward-Looking Information This news release contains forward-looking information, including statements about the Consolidation, the receipt of TSXV acceptance, the timing and effective date of the Consolidation, the number of post-consolidation Common Shares, the expected effect of the Consolidation on the trading price of the Common Shares, and the Company's ability to complete future financings. These statements are based on current expectations and assumptions and are subject to risks and uncertainties. Actual results may differ materially, including if the TSXV does not accept the Consolidation, if the Board determines not to proceed with it, or if the trading price of the Common Shares does not increase proportionately following the Consolidation. The Company does not undertake to update forward-looking information except as required by applicable securities laws. 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. Further details are available at www.rareearthexploration.com or contact Brenan Isabelle, CEO, at +1 902-442-7189 or [email protected]. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/321258