Early Warning Report Filed by McChip Resources Inc.

TORONTO, July 17, 2026 (GLOBE NEWSWIRE) -- McChip Resources Inc. (TSXV: MCS) (“McChip”), an Ontario corporation, triggered certain reporting thresholds in Matachewan Consolidated Mines, Limited (the “Issuer”) that require the filing of an early warning report under National Instrument 62- 103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.

On July 17, 2026, McChip disposed of 4,282,000 common shares of the Issuer (the “Common Shares”) in a private transaction (the “Disposition”) at a price of CDN$0.30 per Common Share for aggregate consideration of $1,284,600.

Prior to the Disposition, McChip held 4,282,000 Common Shares, representing approximately 31.38% of the issued and outstanding Common Shares of the Issuer. Following the Disposition, McChip holds nil Common Shares of the Issuer and accordingly will cease to be an insider and cease to be required to file early warning reports under National Instrument 62- 103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.

In the future, McChip may, depending on market and other conditions, increase or decrease McChip’s beneficial ownership of securities of the Issuer.

A copy of the early warning report that will be filed by McChip may be obtained on the Issuer's SEDAR+ profile at www.sedarplus.ca or by contacting McChip.

McChip Resources Inc.
Corporate Secretary
289-231-4765

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 news release.

Certain statements in this news release constitute “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information contained in forward-looking statements can be identified by the use of words such as “are expected”, “is forecast”, “is targeted”, “approximately”, “plans”, “anticipates”, “projects”, “continue”, “estimate”, “believe” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information involves a number of known and unknown risks and uncertainties, which, if incorrect, may cause actual results to differ materially from those anticipated by the Company. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, the Company can give no assurance that those expectations will prove to have been correct. Accordingly, readers should not place undue reliance on forward-looking information.

For additional information with respect to these and other factors and assumptions underlying the forward-looking information made in this news release, see the Company’s most recent management's discussion and analysis, as well as other public disclosure documents that can be accessed under the issuer profile of “McChip Resources Inc.” on SEDAR+ at www.sedarplus.com. The forward-looking information set forth herein reflects the Company’s reasonable expectations as at the date of this news release and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. The forward-looking information contained in this news release is expressly qualified by this cautionary statement.

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