Toronto, Ontario--(Newsfile Corp. - October 14, 2026) - Great Red Lake Gold Corp. (CSE: RLGC) (FSE: G2T) ("Great Red Lake" or the "Company") is pleased to provide an operational update as further detailed below.

BILTON-BROWN

The Company is pleased to announce that in the upcoming weeks, subject to crew availability, it expects to undertake a field program including prospecting, outcrop mapping, structural measurements, grab sampling and confirmation of historic showings, which have not been verified by the Company, on the Bilton-Brown Property. As previously announced on June 2, 2026, the Company entered into an option agreement pursuant to which the Company has been granted the sole, exclusive and irrevocable right and option to earn and acquire a 100% legal and beneficial interest in and to the mining claims and other mineral tenure comprising the Bilton-Brown Property (the "Property"), subject to certain pre-existing royalty obligations and a new royalty to be granted to the Optionor upon exercise of the option. The program expenditures will count toward the minimum exploration expenditures required during the first year under the terms of the option agreement.

RED LAKE

During the spring and summer of 2026, the Company completed an exploration program on both its optioned claims and directly owned claims. The work consisted of soil sampling, structural mapping and prospecting.

The Company has decided not to make the option payment due on October 10, 2026, and as a result both options under the option agreement have lapsed and the option agreement has terminated. The Company continues to directly own 67 cells representing 1,186 hectares in the Red Lake area.

INVESTOR RELATIONS

The Company is also pleased to announce that it has entered into a services agreement (the "Proactive Agreement") with Proactive Group Holdings ("Proactive") effective October 14, 2026, to increase the Company's investor relations outreach. The Company has arranged for Proactive to conduct investor relations and promotional activity in respect of the Company and its securities. Pursuant to the Proactive Agreement, Proactive will provide media services, including short-form video interviews with management and written editorial articles summarizing the Company's news releases, distributed through Proactive's owned media platforms and syndication network, to the Company for an initial 13-month term commencing October 14, 2026 and expected to end November 14, 2027, which automatically renews for additional 12-month periods unless notice of non-renewal is provided by either party with at least 90 days' written notice prior to the end of the then-current term.

The Company will pay Proactive a total fee of CAD $25,000, plus applicable taxes for the initial term, payable in cash, as consideration for services rendered. The compensation does not include options or any other securities of the Company. The fee for any renewal term may be increased by up to the greater of the preceding 12-month Canadian CPI increase and 5%. Proactive's place of business is Suite 7210, 100 King Street West, Toronto, Ontario M5X 1E1 and its contact information is as follows: 1-604-688-8158. Proactive is an arm's length party to the Company and does not have any interest, directly or indirectly, in the Company or its securities, or any right or intent to acquire such an interest. Proactive retains editorial control over the content it produces.

Ted Yew, Chief Executive Officer of the Company, commented: "We are pleased to announce the planned exploration program at Bilton-Brown, which we expect to begin in the coming weeks, and look forward to continued exploration in the coming months. While the Company has decided not to proceed with its option agreement in Red Lake, we continue to maintain our directly owned claims in the region and will continue to evaluate our plans for those claims, while Bilton-Brown is now the Company's principal exploration focus."

The Canadian Securities Exchange has not in any way passed upon the merits of the matters referenced herein and has neither approved nor disapproved the contents of this news release.

ABOUT GREAT RED LAKE GOLD CORP.

The Company is a mineral exploration and development company. Its activities consist of acquiring, exploring and developing mineral properties. It is anticipated that the Company will be mainly active in the field of mining exploration in Ontario, Canada.

Forward-looking statement

This news release includes certain statements that may be deemed "forward-looking statements." All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements in this news release include, without limitation, statements related to the Company's planned exploration program at the Bilton-Brown Property and its timing, the Company's plans for its directly owned Red Lake claims and the Company's engagement of Proactive. Although the Company believes the expectations expressed in such forward-looking 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 statements. The Company has applied several material assumptions in making such forward-looking statements, including without limitation: the availability of field crews, the receipt of all required permits and approvals, and the Company's ability to fund the planned program and satisfy its obligations under the option agreement for the Bilton-Brown Property, and assumptions about general economic and market conditions. Although management of the Company believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that forward-looking statements or information herein will prove to be accurate. Forward-looking information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance, or achievements expressed or implied by such forward-looking statements or information. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions, risks that not all regulatory approvals (including CSE approval) are obtained, risks relating to the mining industry, and other factors discussed in the Company's listing statement. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

Disclaimer

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any securities laws and may not be offered or sold in the United States unless registered under the 1933 Act and any applicable securities laws of any state of the United States or an applicable exemption from such registration requirements is available.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/319031

Source: Great Red Lake Gold Corp.