Corcel Announces Non-Brokered Private Placement

Vancouver, British Columbia--(Newsfile Corp. - October 29, 2025) - Corcel Exploration Inc. (CSE: CRCL) (OTCQB: CRLEF) (the "Company" or "Corcel") today announced a non-brokered private placement of up to 11,111,111 units (the "Units") at a price of $0.18 per Unit for gross proceeds of up to $2,000,000 (the "Offering").

Each Unit will consist of one common share of the Company (each, a "Share") and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one additional Share (each, a "Warrant Share") at a price of $0.30 per Warrant Share until the date which is 24 months following the Closing Date (as defined below), subject to an acceleration clause. If the ten-day weighted average closing price of the Shares as quoted on the Canadian Securities Exchange (the "CSE") is equal to or greater than $0.40, then the Company may, at its option, accelerate the expiry date of the Warrant by issuing a press release (a "Warrant Acceleration Press Release") announcing that the expiry date of the Warrants will be deemed to be on the 30th day following the issuance of the Warrant Acceleration Press Release (the "Accelerated Expiry Date"). All Warrants that remain unexercised following the Accelerated Expiry Date will immediately expire and all rights of holders of such Warrants will be terminated without any compensation to such holder.

The Company intends to use the net proceeds of the Offering for exploration and working capital purposes.

Closing of the Offering is anticipated to occur on or about November 28, 2025 (the "Closing Date") and is subject to customary closing conditions including, but not limited to, the submission of all required forms to the CSE. In connection with the Offering, the Company may pay finder's fees to eligible finders, subject to compliance with the policies of the Canadian Securities Exchange and applicable securities legislation. All securities issued in connection with the Offering will be subject to a statutory hold period of four months and a day from the Closing Date.

The securities described herein 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. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction