Proceeds to be used to Accelerate Procurement and Component Assembly for Demonstration Facility Deployment in Iceland

Syntholene Energy CORP. (TSXV: ESAF,OTC:SYNTF) (FSE: 3DD0) (OTCQB: SYNTF) (the ‘Company’ or ‘Syntholene’) is pleased to announce that it has closed its previously announced non-brokered private placement for aggregate gross proceeds of $3,750,000 (the ‘Financing’).

‘We are thrilled to have successfully closed this financing, which reflects strong investor confidence in Syntholene’s technology and vision,’ said Daniel Sutton, Chief Executive Officer. ‘These proceeds will accelerate the development of our demonstration facility in Iceland as we continue to advance our mission of delivering cost-competitive, carbon-neutral synthetic fuel.’

An aggregate of 8,333,333 units (each, a ‘Unit‘) were issued at a price of $0.45 per Unit pursuant to the Financing, with each Unit comprised of one common share of the Company (a ‘Common Share‘) and one non-transferable common share purchase warrant (a ‘Warrant‘). Each Warrant is exercisable into one additional Common Share at an exercise price of $0.63 for a period of two years from the date of issuance, subject to an acceleration provision whereby the Company may accelerate the expiry date of the Warrants if the daily trading price of the Common Shares equals or exceeds $0.90 on the TSX Venture Exchange for a period of ten consecutive trading days, in which case the Warrants will expire on the 30^th day after the date on which notice is given by news release (the ‘Acceleration Provision‘).

Gross proceeds from the Financing are expected to be used toward the procurement and assembly of components for the Company’s planned demonstration facility in Iceland, and toward corporate marketing initiatives, investor relations and working capital.

In connection with the Financing, the Company entered into a fiscal advisory agreement dated February 11, 2026 with Canaccord Genuity Corp. ( ‘Canaccord‘), pursuant to which the Company and Canaccord agreed to extend the right of first refusal under the agency agreement between the Company, Canaccord and other agents dated September 18, 2025 to a period ending 18 months from closing of the Financing, and for the Company to pay certain fees to Canaccord in connection with the Financing. On closing of the Financing, Canaccord was paid a cash commission of $112,032, issued 248,960 non-transferable broker warrants, 111,111 corporate finance shares and 111,111 non-transferrable corporate finance warrants. Each broker warrant is exercisable into one Common Share at $0.45 per share for a period of two years from the date of issuance. Each corporate finance warrant is exercisable into one Common Share at $0.63 per share for a period of two years from the date of issuance, subject to the Acceleration Provision.

In addition, the Company entered into a finders’ fee agreement dated March 2, 2026 with Haywood Securities Inc. (‘Haywood‘), pursuant to which the Company agreed to pay certain fees to the Canaccord in connection with the Financing. On closing of the Financing, Haywood was paid a cash commission of $7,992 and issued 17,760 non-transferrable broker warrants. Each broker warrant is exercisable into one Common Share at $0.45 per share for a period of two years from the date of issuance.

All securities issued pursuant to the Financing are subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable securities laws. The securities offered pursuant to the Financing have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or a solicitation of an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

The Financing constitutes a related party transaction within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (‘MI 61-101‘), as certain related parties of the Company participated in the Financing as follows: John Kutsch, director and officer acquired 1,455,556 Units for $655,000, Grant Tanaka, Chief Financial Officer acquired 111,111 Units for $50,000, and Anna Pagliaro, director acquired 22,222 Units for $10,000. Pursuant to Sections 5.5(b) and 5.7(1)(a) of MI 61-101, the Financing is exempt from the requirement to obtain a formal valuation and minority shareholder approval in respect of this transaction as the Company is not listed on the specified markets set out in MI 61-101 and the fair market value of the consideration from the related parties participating in the Financing is not greater than 25% of the market capitalization of the Company. The aforementioned directors disclosed their interest in the Financing to the board of directors of the Company, and the disinterested members of the board approved the Financing and related party transactions under applicable corporate law. In connection with the Financing, each investor in the Financing entered into a standard form of subscription agreement with the Company containing customary terms for a private placement of the nature of the Financing. The Company did not file a material change report in respect of the Financing at least 21 days before the closing of the Financing, which the Company deems reasonable in the circumstances in order to complete the Financing in an expeditious manner.

Early Warning Disclosure – Acquisition by John Kutsch

John Kutsch, a director of the Company, acquired 1,455,556 Units pursuant to the Financing for aggregate consideration of $655,000 representing a price of $0.45 per Unit. Immediately prior to closing of the Financing, Mr. Kutsch beneficially owned, directly or indirectly, 15,583,467 Common Shares, 543,400 Options, 100,000 RSUs and 2,386,755 deferred consideration shares (‘DCSs‘), representing approximately 22.6% of the issued and outstanding Common Shares on a non-diluted basis and, assuming the settlement of all RSUs into Common Shares, exercise of all Options into Common Shares and issuance of all DCSs, approximately 25.86% of the issued and outstanding Common Shares on a partially diluted basis. Immediately following closing of the Financing, Mr. Kutsch beneficially owns, directly or indirectly, 17,039,023 Common Shares, 543,400 Options, 100,000 RSUs, 2,386,755 DCSs and 1,455,556 Warrants, representing approximately 21.96% of the issued and outstanding Common Shares on a non-diluted basis and, assuming the settlement of all RSUs into Common Shares, exercise of all Options and Warrants into Common Shares and issuance of all DCSs, approximately 26.23% of the issued and outstanding Common Shares on a partially diluted basis. The Common Shares held by Mr. Kutsch are held for investment purposes and were acquired for investment. Mr. Kutsch has a long-term view of the investment and may acquire additional securities of the Company either on the open market, through private acquisitions or as compensation or sell the securities on the open market or through private dispositions in the future depending on market conditions, general economic and industry conditions, the Company’s business and financial condition, reformulation of plans and/or other relevant factors. Certain securities held by Mr. Kutsch as subject to Tier 2 escrow in accordance with TSXV policies, as described in the Filing Statement dated November 30, 2025, a copy of which is filed on the Company’s profile on SEDAR+.

A copy of John Kutsch’s early warning report will be filed on the Company’s profile on SEDAR+ (www.sedarplus.ca) and may also be requested by mail at Syntholene Energy Corp. Suite 1723, 595 Burrard Street, Vancouver, BC V7X 1J1, Attention: Corporate Secretary or phone at 604-684-6730.

About Syntholene

Syntholene is actively commercializing its novel Hybrid Thermal Production System for low-cost clean fuel synthesis. The target output is ultrapure synthetic jet fuel, manufactured at 70% lower cost than the nearest competing technology today. The company’s mission is to deliver the world’s first truly high-performance, low-cost, and carbon-neutral synthetic fuel at an industrial scale, unlocking the potential to produce clean synthetic fuel at lower cost than fossil fuels, for the first time.

Syntholene’s power-to-liquid strategy harnesses thermal energy to power proprietary integrations of hydrogen production and fuel synthesis. Syntholene has secured 20MW of dedicated energy to support the Company’s upcoming demonstration facility and commercial scale-up.

Founded by experienced operators across advanced energy infrastructure, nuclear technology, low-emissions steel refining, process engineering, and capital markets, Syntholene aims to be the first team to deliver a scalable modular production platform for cost-competitive synthetic fuel, thus accelerating the commercialization of carbon-neutral eFuels across global markets.

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

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of applicable securities laws. The use of any of the words ‘expect’, ‘anticipate’, ‘aims’, ‘continue’, ‘estimate’, ‘objective’, ‘may’, ‘will’, ‘project’, ‘should’, ‘believe’, ‘plans’, ‘intends’ and similar expressions are intended to identify forward-looking information or statements. All statements, other than statements of historical fact, including but not limited to statements regarding the proposed use of proceeds of the Financing, development of the test facility, commercial scalability, technical and economic viability, anticipated geothermal power availability, anticipated benefit of eFuel, and future commercial opportunities, are forward-looking statements.

The forward-looking statements and information are based on certain key expectations and assumptions made by the Company, including without limitation the assumption that the Company will be able to execute its business plan, including that it will use the proceeds of the Financing, if any, as described herein, that the Company will be able to advance its planned test facility, that the eFuel will have its expected benefits, that there will be market adoption, and that the Company will be able to access financing as needed to fund its business plan. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature, they involve inherent risks and uncertainties.

Actual results could differ materially from those currently anticipated due to a number of factors and risks, including, without limitation, Syntholene’s ability to meet production targets, realize projected economic benefits, overcome technical challenges, secure financing, maintain regulatory compliance, manage geopolitical risks, and successfully negotiate definitive terms. Syntholene does not undertake any obligation to update or revise these forward-looking statements, except as required by applicable securities laws.

Readers are advised to exercise caution and not to place undue reliance on these forward-looking statements.

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Blackrock Silver Corp. (TSXV: BRC,OTC:BKRRF) (OTCQX: BKRRF) (FSE: AHZ0) (‘Blackrock’ or the ‘Company’) is pleased to announce the issuance by the Nevada Department of Environmental Protection (NDEP), through the Bureau of Air Pollution Control, the Class II Air Quality and Surface Disturbance Permit (the ‘Permit’) for the Company’s Tonopah West mineral project (‘Tonopah West’) located along the Walker Lane Trend in Nye and Esmeralda Counties, Nevada, USA.

The Permit allows for the disturbance of up to 150 acres (60.7 Hectares) at Tonopah West with appropriate dust control measures and an ongoing program using the best practical methods to prevent particulate matter from becoming airborne. The term of the Permit is five (5) years, which can be extended and modified as Tonopah West moves toward permitting and construction of its proposed exploration decline, test mining and bulk sample extraction programs.

Data collection continues for the hydrogeological and geochemical programs that will form the basis for the Water Pollution Control Permit. Five humidity cells are in process to review acid generating potential of the waste and mineralized lithologies that will be encountered and transported to the surface during the tunneling and construction of the exploration decline including stockpiles for mineralized material mined as part of the bulk sample program.

The hydrogeological program is designed to understand the groundwater dynamics focused on potential flow and volumes to support required management and disposal as needed during the test mining and bulk sample phase of the program. Waste dump, stockpiles and portal entry engineering designs are on schedule and will be completed and used to calculate surface disturbance that will be the cornerstone for the Modification to the Nevada Reclamation Permit. The permitting process is on schedule with all permits anticipated by mid-2027. Once all permits are in hand, the Company will decide when to commence with the exploration decline, test mining and bulk sample extraction programs at Tonopah West.

Qualified Persons

Blackrock’s exploration activities at Tonopah West are conducted and supervised by Mr. William Howald, Executive Chairman of Blackrock. Mr. William Howald, AIPG Certified Professional Geologist #11041, is a Qualified Person as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects. He has reviewed and approved the contents of this news release.

About Blackrock Silver Corp.

Blackrock Silver Corp. is an American-focused emerging primary silver developer systematically advancing the high-grade Tonopah West Project, situated in the historic ‘Queen of the Silver Camps’ in a jurisdiction consistently ranked as one of the top mining regions globally. The Company is backstopped by a veteran board and technical team with a proven track record of discovering, financing, and building major precious metal mines in Nevada and globally. Blackrock is committed to establishing a secure, high-margin, domestic supply of silver and gold.

Additional information on Blackrock Silver Corp. can be found on its website at www.blackrocksilver.com and by reviewing its profile on SEDAR+ at www.sedarplus.ca.

Cautionary Note Regarding Forward-Looking Statements and Information

This news release contains ‘forward-looking statements’ and ‘forward-looking information’ (collectively, ‘forward-looking statements‘) within the meaning of Canadian and United States securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements in this news release relate to, among other things: the Company’s strategic plans; the Company’s permitting initiatives at Tonopah West, including the anticipated receipt of all permits by mid-2027; the proposed commencement of an exploration decline, test mining and bulk sample extraction programs at Tonopah West; the Company’s de-risking initiatives at Tonopah West; estimates of mineral resource quantities and qualities; estimates of mineralization from drilling; geological information projected from sampling results; and the potential quantities and grades of the target zones.

These forward-looking statements reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include, among other things: conditions in general economic and financial markets; accuracy of assay results; geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services; future operating costs; the historical basis for current estimates of potential quantities and grades of target zones; the availability of skilled labour and no labour related disruptions at any of the Company’s operations; no unplanned delays or interruptions in scheduled activities; all necessary permits, licenses and regulatory approvals for operations are received in a timely manner; the ability to secure and maintain title and ownership to properties and the surface rights necessary for operations; and the Company’s ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.

The Company cautions the reader that forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data; general market and industry conditions; and those factors identified under the caption ‘Risks Factors’ in the Company’s most recent Annual Information Form.

Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/286059