Corporate Update

Vancouver, British Columbia--(Newsfile Corp. - October 16, 2026) - Black Pine Resources Corp(TSXV: BPR)(the Company or Black Pine)announces the appointment of Michael Minder to the Board of Directors of the Company following the resignation of Elyssia Patterson, effective October 15, 2026.

Mr. Minder brings a strong background in capital markets, investment banking, where he has held senior roles in asset and wealth management at global financial institutions. Michael has also served as CFO, EVP Finance, and CEO across multiple technology and innovation driven organizations where he has advised public companies on financing, investor relations, and growth strategy, bringing deep expertise in financial governance, capital raising, and board level oversight.

The officers and directors of Black Pine are now comprised as follows:

The Company also announces that subject to TSX approval, it has negotiated a settlement with certain creditors (the "Debt Settlement") for outstanding debts in the aggregate amount of Cdn$70,000 (the "Debt"), subject to acceptance by the TSX Venture Exchange ("TSX-V"). In accordance with TSX-V Policies, the Debt will be settled by the issuance of 700,000 common shares at a deemed price of Cdn $0.10 per share.

All of the independent directors of the Company, acting in good faith, have determined that the fair market value of the securities being issued and the consideration paid is reasonable and is exempt from the formal valuation and minority shareholder approval requirements of Multilateral Instrument 61-101.

The Company would like to further clarify the biography of Drew Martel presented in the news release, dated August 7, 2026 to the following biography:

Mr. Martel has been involved with private and publicly listed companies for the past 27 years. Currently, Mr. Martel is the principal of RAMM Communications Corp, a private consultancy firm specializing in advising growth companies in mining, energy and early-stage venture capital companies. Mr. Martel has held positions as Corporate Development and Marketing with Tan Range Resources Co., New Millennium Metals Corp., which merged with Platinum Group Metals Ltd. (TSX: PTM), Kiska Metals Corporation, Balmoral Resources Ltd., MAG Silver Corp. (TSX: MAG), Constantine Metals Resources Ltd. and Canagold Resources Corp. (TSX: CCM).

About Black Pine Resources Corp.

Additional information regarding Black Pine can be viewed on its website at www.blackpineresources.com.

Black Pine is a mineral exploration company focused on the acquisition and exploration of mineral properties and is currently focused on advancing, through drilling and exploration of its Sugarloaf Copper Project (the "Sugarloaf Property"). The Sugarloaf Property is comprised of 77 unpatented mining claims covering a total of 1,544 acres located 650 meters west of Freeport's secondary copper open pit at the Tyrone Mine, New Mexico. Surface sampling completed to date on the Sugarloaf Property has delineated an area in excess of 5,000 feet long by 1,000 feet wide of mineralization that assays 0.20% to 0.48% copper and several high angle shear zones that assay up to 6.29% copper. IP/Resistivity surveys conducted in 1973 and 2022 have identified an apparent sulfide body in the northeast and a peripheral zone with a geophysical signature consistent with a copper oxide blanket that extends to the south around the area of a small open pit. Leaching tests done on samples from the vicinity of the open pit showed potential leachability using sulfuric acid. Black Pine obtained a plan of operation through the U.S. Forest Service and the State of New Mexico to complete a stage 1 drilling program. Readers are cautioned that the above-mentioned samples are selective and may be biased by nature and therefore are not necessarily representative of the overall grade and extent of any mineralization that could occur on the subject areas of the Sugarloaf Property.

The scientific and technical information contained in this news release was reviewed and approved by Richard Kern, B.Sc., M.Sc., is a Qualified Person and a proposed director of the Resulting Issuer, as defined under National Instrument 43-101

ON BEHALF OF THE BOARD

SIGNED: "Teresa Cherry"

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information

This press release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding: the resumption of trading of the Company Shares and final approval from the Exchange for the Transaction.

Investors are cautioned that forward-looking information is not based on historical facts but instead reflect the Company's management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the ability to obtain requisite regulatory and other approvals of the Transaction and/or the potential impact of the announcement or consummation of the Transaction on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation; and the diversion of management time on the Transaction. This forward-looking information may be affected by risks and uncertainties in the business of the Company and market conditions. Additional information identifying risks and uncertainties are contained in the filings by the Company with the Canadian securities regulators, which filings are available at www.sedarplus.ca.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/319581

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