NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, Aug. 20, 2026 (GLOBE NEWSWIRE) — ExGen Resources Inc. (TSX.V: EXG; OTC: BXXRF) (“ExGen” or the “Company”) is pleased to announce that, further to its news releases dated June 9, 2026 and June 25, 2026, the TSX Venture Exchange (“TSXV”) has approved an extension and upsize for the Company to complete its private placement of up to 10,081,000 units (the "Units") at a price per Unit of $0.10 for gross proceeds of $1,081,000 (the “Upsized Offering”). ExGen intends on completing the second tranche of the Upsized Offering on or around August 21, 2026. For further details regarding the terms of the Upsized Offering, please see the Company’s news releases dated June 9, 2026 and June 25, 2026.
Further to its news release dated July 29, 2025 and issued on GlobeNewsWire, ExGen is also pleased to announce that it has amended and exercised the option (the “Option”) to earn a 100% interest in the MacRex property, a mineral property located in British Columbia, Canada. The Option was amended such that, to exercise the Option, ExGen paid $200,000 to the optionor on August 14, 2026 which satisfied all remaining cash obligations and exploration expenditures under the original option agreement as described in the July 29, 2025 news release.
The MacRex property is located in the Alberni Mining District of British Columbia approximately 20 kilometers from the city of Port Alberni. The claims are accessible via a series of logging roads reaching a significant portion of the property resulting in easy access for exploration and potential future development. The MacRex property was subject to considerable exploration going back to the 1980’s and a number of copper, gold and silver showings are recorded throughout the property. The property surrounds the Mactush property which was optioned in 2024 for approximately $625,000. The Company has reviewed reports and assessment filings on Mineral Titles and has determined this property will complement its property portfolio.
Jason Riley, Chief Executive Officer of ExGen, commented “With this last round of the financing we now have the treasury flexibility to strategically unlock the value of our properties. We are further pleased to have negotiated this amended exercise for MacRex. This amendment saves ExGen $350,000 in cash payments and the entire $1,500,000 in expenditures that were previously required over the life of the option.”
QUALIFIED PERSON
Mr. Andrew Wilkins, PGeo, is the Responsible Officer for Lithos Geological Inc. and is the independent Qualified Person as defined by National Instrument 43-101 responsible for the accuracy and verification of, and has approved, the technical information contained in this news release. Lithos Geological Inc. has a permit to practice number 1004267 with Engineers and Geoscientists of British Columbia (EGBC).
ABOUT EXGEN RESOURCES INC.
ExGen is a project accelerator that seeks to fund exploration and development of our projects through joint ventures and partnership agreements. This approach significantly reduces the technical and financial risks for ExGen, while maintaining the upside exposure to new discoveries and potential cash flow. ExGen intends to build a diverse portfolio of projects across exploration stages and various commodity groups. ExGen currently has 8 exploration projects in Canada and the US, 4 NSR Royalties on projects in the Golden Triangle, BC, Canada and ExGen also holds a Silver Stream on the past producing Andacollo gold mine in Chile, which is slated for a near-term production restart.
For more information on ExGen please contact:
ExGen Resources Inc.
Jason Tong
Chief Financial Officer
Email: [email protected]
Cell: 604-889-7827
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.
Forward-Looking Information: This news release contains certain forward-looking information. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. In particular, this news release contains forward-looking information in relation to: the Upsized Offering, including, the potential closing date of the second tranche of the Upsized Offering and ExGen’s potential to use its treasury flexibility to strategically unlock the value of its properties; the MacRex property; ExGen’s business model, goals and approach as a project accelerator, including ExGen’s intention to fund projects through joint ventures and partnerships, and its intention to diversify its portfolios of projects across exploration stages and commodity groups; and the near-term production restart of the Andacollo gold mine in Chile. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. This forward-looking information reflects ExGen's current beliefs and is based on information currently available to ExGen and on assumptions ExGen believes are reasonable. These assumptions include, but are not limited to: the current share price of ExGen's common shares; TSXV acceptance and market acceptance of the Upsized Offering; market acceptance of the exercise of the Option; ExGen’s current and initial understanding and analysis of its projects; ExGen's general and administrative costs remaining constant; market acceptance of ExGen's business model, goals and approach; the availability of potential acquisitions and prices acceptable to ExGen; and the feasibility and reasonableness of conducting exploration on, and developing any of, ExGen’s projects. Forward-looking information is subject to known and unknown risks, uncertainties and other factors which may cause the actual results, level of activity, performance or achievements of ExGen to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the early stage development of ExGen and its projects; there is no certainty that the ongoing work programs by ExGen or its partners will result in significant or successful exploration or development of its projects, or development of any of its projects into a producing mine; uncertainty as to the actual results of exploration or development activities; uncertainty as to the availability and terms of future financing on acceptable terms; uncertainty as to timely availability of permits and other governmental approvals; ExGen may not be able to comply with its ongoing obligations regarding its projects; general business, economic, competitive, political and social uncertainties; capital market conditions and market prices for securities, junior market securities and mining exploration company securities; commodity prices, including copper, gold, silver, lithium and zinc prices; the actual results of current exploration and development or operational activities; competition; changes in project parameters as plans continue to be refined; accidents and other risks inherent in the mining industry; lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation or income tax legislation, affecting ExGen; conclusions of economic evaluations, if any; and lack of qualified, skilled labour or loss of key individuals. A description of other risk factors that may cause actual results to differ materially from forward-looking information can be found in ExGen's disclosure documents on the SEDAR+ website at www.sedarplus.ca. Although ExGen has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. ExGen does not undertake to update any forward-looking information except in accordance with applicable securities laws.
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