Corcel Exploration Upsizes Non-Brokered Private Placement to C$2.5 Million

Corcel Exploration Inc., a mineral resource company focused on the acquisition and exploration of precious and base metals properties, has announced an upsized non-brokered private placement. The company, which trades on the Canadian Securities Exchange under the ticker CRCL (OTCQB: CRLEF) (FSE: Y67), has increased the gross proceeds of its previously announced Offering from $1,500,000 to C$2,500,000 in response to significant investor demand.

Under the terms of the Offering, Corcel will issue up to 25,000,000 units of the company at a price of $0.10 per unit. Each unit consists of one common share and one-half of one common share purchase warrant. Holders of these warrants will be entitled to acquire one additional share at a price of $0.20 per share until the date which is 24 months following the Closing Date. The company intends to use the net proceeds of the Offering for exploration and working capital purposes.

The Offering is anticipated to close on or about October 8, 2026, subject to customary closing conditions, including the submission of all required forms to the Canadian Securities Exchange. Corcel may pay finder's fees to eligible finders, subject to compliance with the policies of the CSE and applicable securities legislation. All securities issued in connection with the Offering will be subject to a statutory hold period of four months and one day from the Closing Date.

Corcel Exploration has entered a long-term lease agreement to acquire the Yuma King Cu-Au project in Arizona, which spans a district-scale land position of 3,200 hectares comprising 515 unpatented federal mining claims in the Ellsworth Mining District. The project includes the past-producing Yuma King Mine, which saw underground production of copper, lead, gold, and silver between 1940 and 1963. For more information, visit the company's website at corcelexploration.com.

Corcel Exploration is committed to maintaining transparency and adhering to all applicable securities laws. The securities described in this press release have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom.