Exter Gold Announces Closing of 2nd Tranche Private Placement and Provides Corporate Update

Winnipeg, Manitoba--(Newsfile Corp. - May 11, 2026) - Exter Gold Corp. (CSE: XGOL, formerly BDR) (formerly, Bird River Resources Inc.) (the "Company") is pleased to announce that it has completed the second tranche of its previously announced non-brokered private placement (the "Offering") of 6,984,614 common shares in the capital of the Company (the "Shares") at $0.105 per Share for aggregate gross proceeds of $733,384.47.

In connection with the Offering, the Company issued 24,000 finder's compensation Shares at $0.105 per Share, to an eligible finder (the "Finder's Fee").

Together with the first tranche of the Offering, which closed on March 2, 2026, the Company has issued an aggregate of 10,229,440 Shares pursuant to the Offering for aggregate gross proceeds of $1,074,091.20, excluding any Shares issued as Finder's Fees.

The Company intends to use the net proceeds from the Offering for general corporate and working capital purposes. All currency references in this news release are in Canadian currency unless otherwise noted. The Shares were issued by way of a private placement pursuant to exemptions from prospectus requirements under applicable securities laws.

Corporate Update

Further to the Company's news release dated December 11, 2025 regarding the entry into a binding letter of intent (the "LOI") with Analog Gold Inc. ("Analog") to acquire certain assets from Analog (the "Transaction"), the Company is pleased to provide the following corporate update. The preparation of a technical report for the Tres Oros Mine located in Mexico pursuant to National Instrument 43-101 - Standards of Disclosure for Mineral Projects and the required financial statements of Analog are progressing well, and the parties continue to advance the steps necessary to complete the Transaction.

As previously disclosed in the Company's news release dated March 2, 2026, the Tadeo Mill (the "Mill"), a processing facility situated approximately 47 km south of Mazatlán, Mexico, which is operated by the Company on lease and forms part of the assets to be acquired pursuant to the Transaction, has stabilized its operations. The Company confirms that the Mill has commenced generating revenue for the Company. The Mill has processed over 40,000 tons of ore for third parties since October 2025. Further, the development of the Tres Oros Mine has advanced as per plan and the mine has started production. The Mill commenced processing the Tres Oros ore in April 2026. The first revenue from Tres Oros Mine concentrate is expected in June 2026. Additionally, the permitting process for the El Dorado property has advanced significantly, including the agreements with the community.

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