Skull Ridge Announces Private Placement-Revised

VANCOUVER, British Columbia, April 16, 2026 (GLOBE NEWSWIRE) — Skull Ridge Gold Corp. (CSE: SKUL) (“Skull
Ridge” or the “Company”), further to its news release dated April 10, 2026, announces that it has repriced the terms of its previously announced non-brokered private placement financing.

The Company will now issue units at a price of $0.026 per unit (previously $0.025 per unit) for gross proceeds of up to $100,000. Each unit will consist of one common share and one transferable common share purchase warrant. Each warrant will entitle the holder to acquire one additional common share at a price of $0.05 per share for a period of five (5) years from the date of issuance.

All other terms of the financing remain unchanged, including participation by the Company’s Chief Executive Officer, Karim Rayani, who has agreed to subscribe for 2,500,000 units for gross proceeds of $65,000. Proceeds of the financing will be used for general working capital and corporate purposes.

All securities issued in connection with the financing will be subject to a statutory hold period in accordance with applicable securities laws.

On behalf of the Board of Directors,

KARIM RAYANI
Executive Chairman, CEO & Director

About Skull Ridge Resources.

Skull Ridge Resources. is advancing its district-scale Heritage Gold-Silver Project on the Burin Peninsula in Newfoundland, encompassing approximately 145 km² of contiguous mineral claims. The project lies within one of Atlantic Canada’s most prospective and underexplored epithermal belts. Heritage is hosted along the Point May Epithermal Zone, a multi-kilometre mineralized system with 21 high-priority drill targets and known occurrences of high-grade silver, gold, and base metals. The property offers significant multi-commodity upside across a largely underexplored land package. The Company’s next phase of exploration will focus on expanding drilling along the Eagle Zone and advancing toward an updated resource estimate.

Forward-Looking Information

This news release contains “forward-looking statements” and “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking statements include, but are not limited to, statements regarding exploration plans, timing and scope of work programs, potential results, financing activities, and regulatory approvals.

Forward-looking statements are based on assumptions management believes are reasonable at the time they are made but are subject to known and unknown risks and uncertainties that may cause actual results to differ materially. These risks include, among others, the ability to raise financing, delays in regulatory approvals, changes in commodity prices, and operational risks inherent in mineral exploration. Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements except as required by applicable law. Additional risk factors are described in the Company’s public filings on SEDAR+ at www.sedarplus.ca.

Regulatory Notice

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.

+1 604 716 0551
k@r7.capital

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