Edgemont Provides Updates on Transaction with Laiva Gold

Edgemont Gold Corp. (CSE: EDGM) ("Edgemont") wishes to provide an update on certain matters relating to its reverse takeover transaction (the "Transaction") with Laiva Gold Inc. ("Laiva").

Due to strong investor interest, Laiva will be completing an additional financing round prior to completion of the Transaction (the "Financing"). The Financing will be on a non-brokered basis and will consist of an offering of common shares of Laiva at a price of $1.50 per common share. The Financing will complete prior to completion of the Financing and investors in the Financing will participate in the Transaction. In addition, Laiva may pay certain finders cash fees and finder's warrants in connection with the Financing. Upon completion of the Financing, Laiva anticipates that it will be well-positioned to advance the Laiva Mine following completion of the Transaction. The Financing is expected to close on or before June 26, 2026.

In order to accommodate the Financing, the previously announced closing date has been revised to June 29, 2026. Concurrently with completion of the Transaction, Edgemont will complete a consolidation of its share capital on a 3:1 basis, will change its name to Laiva Gold Inc. and will change its stock symbol to "SISU". Final completion of the Transaction remains subject to final approval of the Canadian Securities Exchange. Prior to completion of the Financing and the Transaction, Edgemont will provide additional information regarding the Financing, the use of proceeds of the Financing and resultant changes to the capitalization of the resulting issuer. The current CSE listing statement (the "Listing Statement") in respect of the Transaction and the business of the Resulting Issuer is available under the SEDAR+ profile of Edgemont at www.sedarplus.ca.

Edgemont also wishes to provide an update on the status of Laiva's environmental permits at the Laiva Mine (as defined herein). As disclosed in the Listing Statement, Laiva had until June 8, 2026 to determine whether to proceed with an appeal of the decision of an administrative court in Finland in respect of the revocation of the environmental permits for the Laiva Mine. Laiva has filed an appeal with the Supreme Administrative Court seeking annulment of the revocation decision. Laiva contends that the decision to revoke the environmental permits is a measure that completely lacks support of the principal of proportionality in Finnish administrative law. Laiva notes that the decision to revoke Laiva's environmental permits is not yet final and legally binding and emphasizes that, as a result of measures undertaken by Laiva, the mine is currently in compliance with its permit conditions and that Finnish authorities are fully satisfied with the current state of the Laiva Mine. The mine is currently in a maintenance phase, during which monitoring and maintenance tasks are carried out and preparations are made for the resumption of operations. There is no requirement at this stage for any operational shutdown or cleanup measures. Finally, Laiva notes that it fully prepared to apply for new environmental permits should that ultimately prove necessary. For a more comprehensive statement, readers are encouraged to review the statement from Laiva available on its website at laivagold.com.

About Laiva

Upon completion of the Transaction, the Resulting Issuer will indirectly own the Laiva mine ("Laiva Mine") in Finland. The Laiva Mine is an open pit operation, fully equipped with one of the largest gold plants in Europe (6,000 tonnes per day capacity).

For additional information with respect to the Transaction, please refer Edgemont's SEDAR+ (www.sedarplus.ca) profile.

Neither the Canadian Securities Exchange nor its Market Regulator (as the term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward Looking Information

This news release contains forward looking information or statements within the meaning of applicable securities laws, which may include, without limitation, statements relating to the timing of completion of the Financing and the Transaction, the timing of the appeal of the potential revocation of environmental permits for the Laiva Mine, the outcome of the appeal, the requirement for new permits for the Laiva Mine, final stock exchange approval in respect of the Transaction and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that Edgemont expects to occur, are forward looking information or statements. Although Edgemont believes the expectations expressed in such forward-looking information or statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking information or statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Resulting Issuer will operate in the future, the ability to achieve its goals, expected costs and timelines to achieve the Resulting Issuer's goals, that general business and economic conditions will not change in a material adverse manner, and that financing will be available if and when needed and on reasonable terms. Such forward looking information or statements reflect Edgemont's views with respect to future events and are subject to risks, uncertainties and assumptions, including the risks and uncertainties included in in documents filed under Edgemont's profile on SEDAR+ at www.sedarplus.ca. While such estimates and assumptions are considered reasonable by the management of Edgemont, they are inherently subject to significant business, economic, competitive, and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking information or statements include, but are not limited to, the ability of Edgemont to complete the Transaction on the terms described herein, including obtaining the requisite regulatory and stock exchange approvals, continued availability of capital and financing and general economic, market or business conditions, failure to compete effectively with competitors, failure to maintain or obtain all necessary permits, approvals and authorizations, failure to comply with applicable laws, including environmental laws, risks relating to unanticipated operational difficulties and failure to identify and acquire additional assets. Edgemont does not undertake to update forward looking statements or forward-looking information, except as required by law.

Not for distribution to United States newswire services or for dissemination in the United States.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/301370