Graycliff Exploration to Expand Sudbury Footprint Through the Acquisition of Thirteen Strategic Mineral Claims Adjacent to High-Grade Shakespeare Project

Toronto, Ontario--(Newsfile Corp. - June 5, 2026) - Graycliff Exploration Limited (CSE: GRAY) (OTCQB: GRYCF) (FSE: GE0) (the "Company" or "Graycliff") announces that it has entered into an asset purchase agreement (the "Agreement") dated June 5, 2026, with King Gold Mines Ltd. to acquire a 100% legal and beneficial interest in thirteen (13) strategic mineral claims (the "Claims") located in the Shakespeare Township within the Sudbury Mining District of Ontario (the "Acquisition").

The Acquisition comes on the heels of Graycliff's news release dated June 2, 2026, which reported high-grade gold assay results of up to 3,030 g/t gold over 1.0 metre within an overall interval assaying 454.34 g/t gold over 7.0 metres from its initial metallurgical test hole (Hole A) on the Company's Shakespeare Gold Project (the "Shakespeare Project"). Please see the Company's June 2, 2026 news release for a discussion of drill results, sampling procedures, analytical methods, and QA/QC protocols. These results are not necessarily indicative of the mineral potential of the Claims being purchased.

The Claims are located within the same highly prospective Shakespeare geological corridor. Securing the Claims will allow Graycliff to immediately expand upon the search area for the mineralized footprint defined by its recent drilling success. The expansion will ensure that the Company commands the strike extensions and areas that cover parallel structures that could be very important in future exploration, as the Company explores to determine the full scale of the Shakespeare gold system.

"Our recent assay results announced June 2, 2026, have provided new insights into the potential of Shakespeare and they help explain the significant historical exploration activity in this area over the past century," commented James Macintosh, Chairman of Graycliff.

Pursuant to the terms of the Agreement, Graycliff will acquire a 100% interest in the Claims, free and clear of all encumbrances, by fulfilling the following consideration:

• Cash Payment: payment of $10,000 CAD cash.

• Share Issuance: issuance of 300,000 common shares of the Company (the "Purchaser Shares"), with 150,000 of the issued Purchaser Shares held in escrow until December 31, 2026.

The Purchaser Shares will be issued at a deemed price per share equal to the closing price of Graycliff's shares on the day prior to closing. In accordance with Canadian securities laws, all Purchaser Shares will be subject to a four-month-and-a-day statutory hold period.

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