Adelayde Announces Closing of Private Placement to Fund Gold Drill Program in Nevada

Vancouver, British Columbia--(Newsfile Corp. - October 1, 2025) - Adelayde Exploration Inc. (CSE: ADDY) (OTCID: SPMTF) (WKN: A41AGV) (the "Company" or "Adelayde") is pleased to announce that, further to its news release dated September 16, 2025, it has completed its private placement financing (the "Financing"), pursuant to which it issued an aggregate of 19,100,000 units (each, a "Unit") at a price of $0.05 per Unit for aggregate gross proceeds of $955,000. Each Unit is comprised of one common share in the capital of the Company (each, a "Share") and one-half of one transferrable share purchase warrant (each whole such warrant, a "Warrant"). Each Warrant entitles the holder thereof to acquire one additional Share (each, a "Warrant Share") at a price of $0.075 per Warrant Share for a period of five years from the closing of the Financing.

The Company paid cash finder's fees of $26,480 and issued 529,600 non transferrable share purchase warrants (the "Finder's Warrants") to certain finders as a finder's fee in connection with the Financing. Each Finder's Warrant entitles the holder thereof to acquire one Share (each, a "Finder's Warrant Share") at a price of $0.075 or $0.085 per Finder's Warrant Share for a period of two years from the closing of the Financing. All securities issued in connection with the Financing are subject to a statutory hold period expiring four months and one day after the closing of the Financing.

Net proceeds from the Financing are expected to be used towards general working capital and work programs in Nevada.

James Nelson, President of Adelayde, stated, "We are pleased to have completed this private placement, which provides the capital to launch our maiden drill program at the Esmeralda County gold project in Nevada and to support our marketing efforts. With gold prices near all-time highs and renewed financing activity in the junior resource sector, we believe the timing is right for this gold drill program, which is scheduled to begin in 2025."

None of the securities issued have been registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This news release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.