Disposition of Shares

Loncor Gold Inc. ("Loncor") reports that it disposed of on February 10, 2026 8,857,142 common shares of KGL Resources Ltd. ("KGL"), representing approximately 60.23% of the 14,706,632 issued and outstanding common shares of KGL. The said 8,857,142 common shares of KGL (the "KGL Shares") represented all of the securities of KGL held by Loncor such that, as a result of this disposition, Loncor no longer owns any common shares or other securities of KGL.

Loncor disposed of the KGL Shares by way of a private agreement as part of a divesture transaction carried out by Loncor in connection with a plan of arrangement transaction (the "Arrangement") providing for the acquisition of Loncor. This divesture transaction involved Loncor disposing of certain assets which included the KGL Shares. Loncor and the buyer of the KGL Shares (the "Buyer") agreed in the agreement for the divesture transaction that the value of the consideration for the KGL Shares shall be an aggregate of Cdn$620,000 (or approximately Cdn$0.07 per KGL Share). This consideration was satisfied by way of the Buyer accepting a reduction in the Buyer's compensation entitlement resulting from the closing of the Arrangement. Loncor does not have any intention to acquire additional securities of KGL.

The "early warning" disclosure above is issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which KGL is a reporting issuer containing information with respect to the foregoing matters (the "Early Warning Report"). The Early Warning Report containing additional information with respect to the foregoing matters will be filed and made available under the SEDAR+ profile of KGL at www.sedarplus.ca.

KGL's and Loncor's address is 4120 Yonge Street, Suite 304, Toronto, Ontario, M2P 2B8, Canada. For further information or to obtain a copy of the Early Warning Report, please contact:

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/283525