INVESTMENT SUMMARY

McNary combines reported historical gold production, extensive modern exploration, multiple mineralization styles and geochemical and magnetic evidence supporting the interpretation of a possible copper-gold porphyry or breccia-related system. Seahawk believes this system may extend westward beyond the currently recognized Copper Basin area and pass through McNary. Plans to expand the surrounding land position and undertake the property’s first modern drilling program provide clear next steps.

1. Reported historical gold production is an important part of McNary’s investment case. Historical records cited in the June 2026 technical report indicate approximately 1,600 ounces of gold production from the McNary workings, principally from gold-bearing quartz-tourmaline veins. This history of mining and gold recovery provides a strong foundation for modern exploration.

2. Extensive exploration work has already been completed. This includes historical-record review, reopening and mapping of the lower adit, the collection of 120 rock samples and 704 soil samples, approximately 60 line-kilometres of ground magnetic surveying, geochemical analysis, geological mapping, prospecting, imagery and terrain modelling.

3. The work is independently supported. The sampling programs documented quality-assurance and quality-control procedures, and samples were processed by ALS Global, an independent geochemical laboratory. Assay-certificate review and data verification were completed. William Feyerabend, CPG 11047, completed a field examination at McNary in April 2026. The June 2026 technical report concludes that the data are adequate for the purposes of the report and that the property merits additional exploration.

4. The lower adit has been directly evaluated. The approximately 200-metre lower tunnel was reopened and mapped by compass and tape, and 51 measured-width underground chip samples were collected, adding modern mapping and sampling data from the historic underground workings.

5. Modern sampling has returned reported gold values across multiple programs. In 2018, three rock samples returned between 17 and 42 g/t gold, with elevated silver, copper and lead. In 2019, three confirmatory surface and underground rock samples returned between 15 and 38 g/t gold, also with elevated silver, copper and lead. The June 2026 technical report states that quartz-tourmaline veins and micaceous breccia carried the highest values. In 2020, three rock-chip samples returned between 4 and 7 g/t gold, with six additional rock-chip samples between 0.1 and 1.0 g/t.

6. The target area extends well beyond the historic vein. Earlier exploration identified a continuous gold-copper-tellurium corridor extending approximately 500 to 800 metres east-northeast from the historic workings. The June 2026 technical report also identifies anomalous gold mineralization away from the historic vein; the largest and most continuous gold-in-soil anomaly in the report, approximately 150 metres north of the historic vein and measuring approximately 250 by 150 metres; a broad, irregular antimony anomaly over and southeast of the historic vein; an eastern copper anomaly measuring approximately 600 by 400 metres; a lead anomaly measuring approximately 225 by 150 metres within the eastern copper area; a second broad copper anomaly to the northwest; a possible northwest-southeast structural break supported by a magnetic low; and an approximately 500-metre-wide circular magnetic high northwest of the McNary vein that may represent an intrusive body, together with a separate donut-shaped magnetic anomaly immediately to the north.

7. Metal-ratio mapping supports a broader system interpretation. Antimony-to-arsenic and molybdenum-to-arsenic ratio maps show contrasting geochemical patterns that appear to converge along the possible northwest-southeast structural break. Together with a coincident magnetic low and the broader gold and base-metal anomalies, these patterns support the interpretation of a possible copper-gold porphyry or breccia-related system.

8. McNary contains three observed styles of mineralization. Quartz-tourmaline veining associated with the historic workings, gossanous breccia mineralization in the eastern area, and fine quartz stockwork in rhyolite north of the adit, identified during William Feyerabend’s April 2026 field examination.

9. Expanded gold and copper geological interpretation. The June 2026 technical report considers an orogenic gold model, a copper porphyry or breccia model, and hydrothermal alteration associated with dikes. Under the copper porphyry or breccia model, the mapped Cretaceous tonalite and its border zone represent the possible metal source and targeted exploration area. The tonalite bodies mapped at McNary are interpreted to correlate with the approximately 73-million-year-old Copper Basin stock, while gossanous breccia mineralization in the eastern area occurs along or near the margin of the tonalite. The report also notes that the historic quartz-tourmaline veins may have served as structural conduits for a younger mineralizing event. One exploration hypothesis is that the reported high-grade gold associated with the historic vein system may be related to a broader copper-gold porphyry or breccia system. The contrasting distribution of gold and antimony relative to copper, lead and zinc may indicate multiple mineralizing events. Additional exploration and modern drilling are intended to test these possible relationships and further refine the geological model.

10. McNary may represent a westward extension of the Copper Basin mineralized system. The June 2026 technical report notes that Cretaceous tonalite bodies mapped at McNary are interpreted to correlate with the approximately 73-million-year-old Copper Basin stock. Metal-ratio patterns, a coincident magnetic low and broader gold and base-metal anomalies at McNary support the interpretation of a possible copper-gold porphyry or breccia-related system. McNary lies west of the area currently recognized as Copper Basin, and Seahawk believes the geological formation and associated mineralized system may extend westward beyond that area and pass through McNary. The property’s first modern drilling program is intended to test this interpretation.

11. Defined Arizona land position and share-based acquisition. The June 2026 technical report states that Sovereign Minerals Inc. holds a 100% legal and beneficial interest in the 31 unpatented McNary claims and identifies no other royalties, back-in payments or property encumbrances. The claims cover approximately 633 acres, or 256 hectares, in Yavapai County, Arizona, approximately 24.5 road miles southwest of Prescott. Seahawk’s interest remains subject to completion of the proposed acquisition, which is structured as a share-based transaction. No portion of the proceeds from Seahawk’s financing will be used to fund the acquisition.

12. Expanding McNary’s regional opportunity. Seahawk is advancing plans to expand its land position surrounding McNary to nearly three times the size of the current 31-claim block. If completed, the expansion would significantly broaden Seahawk’s exploration footprint and strengthen its ability to evaluate the possibility that the geological formation and associated mineralized system extend westward beyond the area currently recognized as Copper Basin and pass through McNary.

13. McNary’s next major step: first modern drilling. The extensive exploration completed to date has identified multiple priority targets and established a foundation for subsurface testing. The first modern drilling program is intended to evaluate the possible copper-gold porphyry or breccia-related system, test the extent and continuity of mineralization below the surface and investigate whether the reported high-grade gold associated with the historic vein system is related to the broader mineralized system. The drilling method and final program design will be selected as exploration planning advances.

No mineral resource or mineral reserve has been estimated at McNary. No modern drilling has been completed. Geological interpretations described above have not been confirmed by drilling. Seahawk’s interest in McNary is subject to completion of the proposed acquisition. See the full Disclaimer.