North Peak Resources Completes Repurchase and Cancellation of 1 Million Common Shares

North Peak Resources Ltd. (TSXV: NPR,OTC:NPRLF) (OTCQB: NPRLF) (the "Company" or "North Peak") announces that, further to its news release dated May 4, 2026, it has completed the previously announced purchase for cancellation of 1,000,000 common shares of the Company (the "Shares") from Solarljos, LLC ("Solarljos") at a price of C$0.80 per Share, for aggregate consideration of C$800,000 (the "Transaction").

The Transaction has received the acceptance of the TSX Venture Exchange (the "TSXV"), and the 1,000,000 Shares acquired by the Company have been cancelled. Following completion of the Transaction and cancellation of the Shares, the Company has 48,973,642 common shares issued and outstanding.

"The completion of this transaction reduces North Peak's outstanding share capital and reflects our continued confidence in the underlying value and potential of the Prospect Mountain Property. With our 2026 drilling program now underway across the Property's key target areas - sitting as we do at the heart of an historic mining camp that others around us are actively investing and developing - we remain confident in the scale of the opportunity this asset represents for our shareholders," stated Rupert Williams, Chief Executive Officer of North Peak.

As previously disclosed, proceeds from the sale of the Shares are intended to support the Erickson family's longstanding humanitarian work in Africa, including Dr. Ty Erickson's work delivering obstetric fistula repair care in complex and underserved environments.

Solarljos is controlled by the Erickson family of Nevada, which includes Dr. Ty Erickson, a director of the Company. As previously disclosed, the Transaction constituted a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company relied on the exemptions from the formal valuation and minority shareholder approval requirements contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that the fair market value of the Transaction did not exceed 25% of the Company's market capitalization. Dr. Erickson disclosed his interest in the Transaction and abstained from voting on its approval.

Early Warning Disclosure

Immediately prior to completion of the Transaction, Solarljos beneficially owned and exercised control or direction over 8,000,000 common shares of the Company, representing approximately 16.01% of the 49,973,642 common shares of the Company then issued and outstanding.

Pursuant to the Transaction, Solarljos disposed of ownership and control of 1,000,000 common shares of the Company to the Company at a price of C$0.80 per Share, for aggregate consideration of C$800,000. The Transaction was completed pursuant to the previously announced agreement between the Company and Solarljos and did not take place through a stock exchange or other published market.

Following completion of the Transaction and cancellation of the Shares, Solarljos beneficially owns and exercises control or direction over 7,000,000 common shares of the Company, representing approximately 14.29% of the 48,973,642 common shares of the Company now issued and outstanding.

The Shares were disposed of by Solarljos pursuant to the previously announced agreement with the Company, with proceeds from the disposition intended to support the Erickson family's longstanding humanitarian work in Africa. Solarljos may, depending on market and other conditions, increase or decrease its beneficial ownership, control or direction over shares or other securities of the Company through market transactions, private agreements or otherwise.

This news release is being issued pursuant to the early warning requirements of applicable Canadian securities laws. An early warning report relating to the Transaction will be filed by Solarljos under the Company's profile on SEDAR+ at www.sedarplus.ca.

About North Peak Resources

The Company is a Canadian-based gold exploration and development company listed on the TSX Venture Exchange under the symbol "NPR" and the OTCQB under the symbol "NPRLF". Launched by the founding team behind both Kirkland Lake Gold and Rupert Resources, the team has a strong track record of acquiring mining assets, applying modern exploration techniques and taking them into operational mines.

North Peak's flagship property is the Prospect Mountain Mine Complex which lies in the Battle Mountain-Eureka trend, in an area known as the Southern Eureka Gold Belt, where three styles of mineralization have been identified, gold, silver Carlin style mineralization, Carbonate Replacement gold, silver, lead, zinc mineralization (CRD) and carbonate hosted Porphyry Related Skarn lead, zinc and gold mineralization associated with cretaceous intrusions. At the Property, the CRD mineralization is heavily oxidized to depths of at least 610m (2,000ft) below the top of the ridge line.

A Plan of Operations is in place which covers part of the Property and entitles an operator to pursue surface exploration (totaling 189 acres), underground mining of up to 365,000 tons per annum and certain infrastructural works. A more complete description of the Property's geology and mineralization, including at the Wabash area, can be found in the NI 43-101 Technical Report on the Prospect Mountain Property, Eureka County, Nevada, USA dated and with an effective date April 10, 2023, prepared by David Pym (MSc), CGeol. of LTI Advisory Ltd. and Dr Toby Strauss, CGeol, EurGeol., of Merlyn Consulting Ltd., which has been filed on SEDAR+ at www.sedarplus.ca under the profile of the Company and on the Company's website.

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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS: This press release contains certain forward-looking statements under applicable Canadian securities legislation, including statements regarding the intended use of proceeds from the Transaction and Solarljos' potential future acquisitions or dispositions of securities of the Company. Forward-looking statements are based on current expectations and are subject to known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and, except as required by applicable law, the Company undertakes no obligation to update or revise them.

Neither the TSX Venture Exchange nor its Regulation Service 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/312375