Kiplin acquires Keefe Lake uranium project

Executive Summary

• Kiplin Metals Inc. has acquired the Keefe Lake uranium project in Saskatchewan from an arm's-length vendor for $200,000 in cash.
• The acquisition includes four mineral claims covering approximately 15,400 hectares on the eastern side of the Athabasca basin, a region hosting major global uranium mines.
• The project is classified as an advanced exploration target with a shallow basement exploration model, having incurred over $4 million in prior exploration expenditures since 2012.

Key Details

• Transaction Structure: Acquisition of mineral property interests via an agreement dated March 16, 2026.
• Consideration: Cash payment of $200,000.
• Vendor Status: Arm's-length vendor.
• Fees: No finders' fees or commissions were paid in connection with the agreement.
• Property Composition: Four mineral claims comprising the Keefe Lake uranium project.
• Location: Eastern side of the Athabasca basin in northeastern Saskatchewan, Canada.
• Project Size: Approximately 15,400 hectares.
• Geological Context: Located within a structural corridor hosting the McArthur River, Cigar Lake, and Key Lake mines (three of the world's largest and richest uranium mines).
• Exploration Model: Shallow basement or sandstone-hosted uranium deposit.
• Technical Metrics: Average basement depths of only 170 metres.
• Historical Work: Over $4 million in exploration expenditures since 2012, including airborne geophysics, 2-D seismic, and diamond drilling.
• Qualified Person: Dr. Peter Born, PGeo, Director of the company, approved the technical information under National Instrument 43-101.