New Earth enters option deal to buy Red Wine project

Mr. Lawrence Hay reports NEW EARTH RESOURCES EXECUTES OPTION AGREEMENT FOR RED WINE RARE EARTH PROJECT IN LABRADOR New Earth Resources Corp. has executed an option agreement dated as of Nov. 19, 2025, with Northex Capital Partners Inc. to acquire the Red Wine rare earth project. The project comprises two non-contiguous mineral claims located in Labrador, Canada, covering approximately 1,575 hectares in total. Located in the Central mineral belt (CMB) of Newfoundland and Labrador, the first claim covers approximately 1,425 hectares, approximately 110 kilometres northeast of Churchill Falls and approximately 20 km east of the Orma Lake hydro access road, an all-weather route that connects to the Trans-Labrador Highway. The project also consists of a secondary non-contiguous claim approximately nine km to the northeast, covering an additional 150 hectares. Under the agreement, to acquire the project the company is obligated to issue an aggregate of 4.5 million Class A common shares of the company to Northex, as follows: 1.25 million shares within 10 business days of execution of the agreement; an additional 1.5 million shares on or before the first anniversary date of the agreement; and an additional 1.75 million shares on or before the second anniversary date of the agreement. Shares issued under the agreement will be subject to a four-month hold period in accordance with applicable securities laws. The company will also grant Northex a 2.0-per-cent net smelter returns royalty on the project. Northex is arm's length to the company. About New Earth Resources Corp. New Earth Resources is a Canadian-based mineral exploration company acquiring and developing advanced and early stage exploration projects. Its flagship project is its 100-per-cent-owned, past-producing Lucky Boy uranium property located in Gila county, Arizona, United States. Consisting of 14 lode claims, and spanning approximately 273 acres, the Lucky Boy project covers a small open pit and underground workings that produced uranium in the 1950s, and again in the 1970s. In addition to Lucky Boy, included in the company's uranium portfolio are three claims located in Saskatchewan, Canada, covering 365 hectares. The company also has the option to acquire a 100-per-cent interest in 23 claims covering approximately 1,101 hectares in the Strange Lake area of Quebec, Canada, known as the SL project, which is prospective for rare-earth elements. We seek Safe Harbor.