Carmanah to change name to Skull Ridge Gold

Executive Summary

• Carmanah Minerals Corp. proposes changing its corporate name to Skull Ridge Gold Corp. and rebranding its flagship Heritage project to the Skull Island Project.
• The strategic pivot follows the March 18, 2026 appointment of Karim Rayani as Executive Chairman and CEO, shifting the company's focus toward gold and silver exploration.
• Management outlines upcoming infill drilling and core reassaying to expand the Eagle zone, with a reserved trading symbol of SKUL pending regulatory approval.

Key Details

• Proposed corporate name change: Carmanah Minerals Corp. to Skull Ridge Gold Corp. (subject to board approval, regulatory filings, and CSE approval)
• Flagship project rebranding: Heritage project renamed to Skull Island Project
• Project location & geology: Burin Peninsula, Newfoundland; hosted in Avalonian rocks within the Point May epithermal gold-silver trend
• Leadership transition: Karim Rayani appointed Executive Chairman and CEO on March 18, 2026
• Upcoming exploration plans: Infill drilling and core reassaying targeted to refine and expand the Eagle zone, with an updated resource estimate in development
• Trading symbol: Reserved symbol "SKUL" expected to become effective upon regulatory approval of the name change
• Shareholder impact: No changes to share structure; no action required by existing shareholders
• Jurisdictional context: Highlights Newfoundland's emergence as a premier mining jurisdiction, citing recent activity from New Found Gold Corp. and the Equinox Gold/Calibre Mining merger

Notable Quotes

• Karim Rayani, Executive Chairman and CEO: "Since assuming my role as executive chairman and CEO on March 18, 2026, I have led a rebranding of Carmanah to Skull Ridge Gold Corp., reflecting our renewed strategic focus and commitment to unlocking the potential of the Skull Island project."
• Karim Rayani: "The Burin Peninsula remains vastly underexplored despite hosting a large epithermal system, and the Skull Island project offers a district-scale opportunity to rapidly grow high-grade gold and silver resources. Our upcoming infill drill program and reassaying of existing core are expected to refine and expand our understanding of the Eagle zone, positioning us to deliver meaningful value to our shareholders."
• Karim Rayani: "With capital returning to the sector and quality assets in high demand, management believes Skull Ridge Gold and the Skull Island project are well positioned to execute efficiently, scale quickly and emerge as a leader in this growing precious metals district."