ExGen Resources Provides Corporate Update, and Announces Stock Option Grant and $200,000 Private Placement

Company Update - ExGen Resources Inc. holds a 20% carried interest in the Empire copper project operated by Phoenix Copper Limited and owns 1,330,000 common shares of Phoenix [1] - Phoenix announced the suspension of its Executive Chairman and Chief Financial Officer, while the CEO stated that work on the Empire Project continues [2] Stock Options - ExGen issued a total of 4,000,000 stock options to directors, officers, employees, and consultants, with an exercise price of $0.14, valid for five years [3] - Of the options granted, 500,000 were allocated to directors and officers, relying on exemptions from formal valuation and minority approval requirements [4] Private Placement Offering - ExGen plans to conduct a non-brokered private placement offering at a price of $0.20 per unit, aiming for gross proceeds of up to $200,000 [5] - Each unit will consist of one common share and one-half of a common share purchase warrant, with the full warrant allowing purchase at $0.25 for 12 months [5] - The closing of the private placement is expected around March 15, 2026, pending regulatory approval, and proceeds will be used to advance the Telegraph porphyry copper-gold project [6] Company Overview - ExGen is a project accelerator focused on funding exploration and development through joint ventures and partnerships, aiming to reduce risks while maintaining exposure to new discoveries [7] - The company has nine exploration projects in Canada and the US, along with four NSR royalties in the Golden Triangle, BC, and holds a silver stream on the Andacollo gold mine in Chile, which is set for a near-term production restart [7]