Northern Lion Gold moved to Tier 2

Mr. Luke Norman reports NORTHERN LION PROVIDES UPDATE REGARDING TSXV TIER CLASSIFICATION, WORKING CAPITAL POSITION AND CORPORATE DEVELOPMENT INITIATIVES Northern Lion Gold Corp. no longer satisfies certain continued listing requirements (CLRs) applicable to Tier 1 issuers under exchange Policy 2.5, and has therefore been transferred from Tier 1 to Tier 2 status effective on or about Oct. 20, 2026. The company will continue to be listed on the TSX Venture Exchange and its common shares will continue to trade under the symbol NL. The transfer to Tier 2 does not affect the company's business, operations, assets, management or reporting obligations. As disclosed in the company's interim financial statements for the three and six months ended June 30, 2026, the company had a working capital deficiency of $203,757 as at June 30, 2026. In order to rectify this deficiency, management is currently evaluating equity financing opportunities, reducing discretionary expenditures and operating costs, and reviewing potential new mineral properties. While there can be no assurance that such measures can successfully rectify the company's working capital deficit, management believes these measures will reasonably improve the company's working capital position and support its continuing operations. The company does not currently satisfy certain requirements relating to assets, operations and activities applicable to Tier 1 issuers. Specifically, the company's Riverside property is not currently a Tier 1 property, nor does the company meet the Tier 1 requirement of maintaining net tangible assets of $2-million and $200,000 in unallocated funds. The company is actively working to strengthen its asset base through the acquisition of additional mineral properties and carrying out an equity financing in order to increase its working capital position. The company's board of directors and audit committee currently consist of Luke Norman, who is also the president and chief executive officer, Richard Silas, who is also the chief financial officer and corporate secretary, and Jeffrey O'Neill. Mr. Norman and Mr. Silas are non-independent directors and audit committee members due to their positions as executive officers of the company. Mr. O'Neill is an independent director and audit committee member. The company will be placed on a 90-day notice in respect of the independent director and audit committee requirements, pursuant to exchange Policy 3.1, sections 5.7 and 21(b), and the company plans to appoint an additional independent director in order to meet the board composition requirements of the TSX Venture Exchange. About Northern Lion Gold Corp. Northern Lion is a Canadian mineral exploration company focused on the acquisition and exploration of gold-bearing mineral resource properties in Canada. The company is a reporting issuer in Alberta and British Columbia, and trades on the TSX Venture Exchange under the symbol NL and the Frankfurt Stock Exchange under the symbol N3E. We seek Safe Harbor.