Carmanah appoints Rayani as CEO; Rieche resigns

Mr. Karim Rayani reports CARMANAH APPOINTS KARIM RAYANI AS EXECUTIVE CHAIRMAN, CEO & DIRECTOR Carmanah Minerals Corp. has appointed Karim Rayani as executive chairman, chief executive officer and director, effective immediately, following the resignation of Fraser Rieche as CEO and director. Mr. Rayani is a global entrepreneur, investor and capital market executive with deep experience leading and growing companies in the natural resource and investment sectors. He has held executive and board roles across North America, Europe and the Middle East, raising capital, advancing operations and executing corporate growth strategies. As a significant shareholder in Carmanah, his interests are directly aligned with those of all investors. In his role as executive chairman and chief executive officer, Mr. Rayani will lead the company's strategic direction, corporate development and operational execution, with a focus on unlocking the full potential of its flagship Heritage gold-silver project in Newfoundland. As part of this transition, the company is undertaking a comprehensive relaunch and rebranding initiative to better reflect the scale and opportunity of its underlying asset base. The company thanks Fraser Rieche for his contributions and wishes him well in his future endeavours. Management commentary Mr. Rayani commented: "Carmanah's Heritage gold-silver project on the Burin peninsula represents a compelling opportunity, with exposure to high-grade gold and silver mineralization within one of Canada's largest and most underexplored epithermal belts. "The project provides a strong foundation for value creation through targeted exploration and resource expansion. We are advancing work programs aimed at supporting an updated NI 43-101 resource estimate. "Importantly, the system remains open at depth and along strike, with no historical drilling testing the deeper extensions of mineralization. Exploration to date has covered only a fraction of the property, leaving substantial upside across the broader land package. "Newfoundland has rapidly emerged as a premier mining jurisdiction, underpinned by a mining-friendly regulatory framework and a highly prospective geological setting. The project lies along a major structural corridor that hosts multiple high-grade deposits, reinforcing the potential for further discoveries. "The project is fully permitted, and we expect to announce a drill program in the near term. Our focus will be on disciplined execution, capital efficiency and delivering meaningful results as we work to unlock long-term shareholder value." About Carmanah Minerals Corp. Carmanah is advancing its district-scale Heritage gold-silver project on the Burin peninsula in Newfoundland, encompassing approximately 145 square kilometres of contiguous mineral claims. The project lies within one of Atlantic Canada's most prospective and underexplored epithermal belts. Heritage is hosted along the Point May epithermal zone, a multikilometre mineralized system with 21 high-priority drill targets and known occurrences of high-grade silver, gold and base metals. The property offers significant multicommodity upside across a largely underexplored land package. The company's next phase of exploration will focus on expanding drilling along the Eagle zone and advancing toward an updated resource estimate. We seek Safe Harbor.