Allegiance Expands Proposed British Columbia Tungsten Land Position by 87% Through Strategic Staking at Five T's

Highlights

• Approximately 1,657 hectares of additional ground applied for surrounding the proposed Five T's tungsten project in British Columbia.
• Potential 3,562-hectare British Columbia tungsten position, representing an approximately 87% increase over the land package covered by the proposed Thanksgiving, Five T's and Rio Grande acquisition.
• Expanded Five T's footprint around an area hosting multiple historically documented tungsten occurrences.
• Additional ground requires no share issuance, third-party acquisition consideration, or underlying vendor royalty.
• NI 43-101 technical work advancing in connection with the proposed British Columbia acquisition.
• Golden Scheelite tungsten assay results anticipated in the coming weeks following completion of the Company's initial modern Nevada field program.

Vancouver, British Columbia--(Newsfile Corp. - October 22, 2026) - Allegiance Resources Corp. (CSE: ALLG) (FSE: BG5) ("Allegiance" or the "Company") is pleased to announce that it has submitted mineral claim applications covering approximately 1,657 hectares of additional ground surrounding the proposed Five T's tungsten project near Revelstoke, British Columbia.

Allegiance has entered into a definitive asset purchase agreement to acquire the Thanksgiving, Five T's and Rio Grande tungsten projects in British Columbia, which together comprise approximately 1,905 hectares. Subject to confirmation and registration of the newly applied-for claims and completion of the proposed acquisition, the additional ground would increase Allegiance's proposed British Columbia tungsten land position to approximately 3,562 hectares, representing an increase of approximately 87%.

The additional ground was acquired through direct staking and did not require the issuance of shares, acquisition consideration payable to a third-party vendor or the creation of an underlying vendor royalty. The staking follows Allegiance's ongoing review of Five T's and the surrounding geological setting and is intended to provide the Company with a substantially larger area from which to evaluate the project's historically documented tungsten occurrences and assess the potential for additional exploration targets beyond the existing claim boundaries.

The newly applied-for ground has not yet been systematically explored by Allegiance and will require additional geological work to assess its prospectivity.

Why Allegiance Expanded Around Five T's

The decision to secure additional ground around Five T's follows Allegiance's ongoing review of the project's historical exploration record and broader geological setting.

The Company is also interested in evaluating whether regional glacial retreat since the historical exploration programs may have improved bedrock exposure in portions of the broader Five T's area. Historical work in the district was conducted in terrain affected by extensive glacial cover, and any newly exposed bedrock could provide additional opportunities for geological mapping, prospecting and target generation. Allegiance has not yet confirmed the extent to which glacial retreat has changed bedrock exposure within the newly applied-for ground.

Five T's contains multiple historically documented tungsten occurrences and has been the subject of previous exploration programs that identified tungsten mineralization across a broader project area. The Company believes the additional staking provides greater flexibility to evaluate the geological setting surrounding these known occurrences and to assess the potential for additional exploration targets beyond the existing claim boundaries.

Allegiance previously provided detailed historical technical information regarding Five T's in its news release dated October 13, 2026, announcing the proposed acquisition of the Thanksgiving, Five T's and Rio Grande tungsten projects. Readers are referred to that release for the historical exploration results, supporting technical disclosure and applicable qualified person information.

Subject to confirmation and registration of the newly applied-for claims and completion of the proposed acquisition, the expanded land position would give Allegiance a substantially larger area surrounding Five T's for future geological mapping, geophysics, structural interpretation and systematic target generation.

The Company expects to provide additional technical information regarding Five T's as its NI 43-101 technical work advances.

"We are continuing to build," said Kelly Abbott, President and Chief Executive Officer of Allegiance. "As we reviewed the historical exploration work at Five T's, we believed there was a strong rationale to secure additional prospective ground around the existing project area while it remained available."

"The additional staking gives us a substantially larger area around Five T's to evaluate as the project advances, without issuing additional shares, taking on another acquisition obligation or adding a vendor royalty."

Abbott continued: "At the same time, several parts of our tungsten strategy are moving forward in parallel. The technical work supporting the British Columbia transaction is advancing, our first modern field program at Golden Scheelite has been completed, and samples are now in the laboratory. Our focus is to continue strengthening the portfolio while advancing the technical work needed to identify the highest-priority areas for exploration."

British Columbia Transaction Advancing

Allegiance continues to advance the technical and regulatory work required to complete the proposed acquisition of the Thanksgiving, Five T's and Rio Grande tungsten projects.

The independent technical report being prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects is now nearing completion and represents a key remaining component of the transaction.

The acquisition remains subject to completion and acceptance of the required technical report, acceptance by the Canadian Securities Exchange and other customary closing conditions.

Following closing, Allegiance intends to integrate the historical technical information from Five T's with the newly applied-for ground, subject to confirmation and registration of those claims, to refine geological interpretations and establish priorities for future exploration.

Golden Scheelite Update

In Nevada, Allegiance recently completed its initial field program at the Company's 100%-owned Golden Scheelite Tungsten Project.

The program included geological mapping, grab sampling, ultraviolet-lamp prospecting for scheelite and systematic reconnaissance across the Company's 17-claim property.

Samples collected during the program are undergoing independent laboratory analysis for tungsten, with assay results expected in the coming weeks, subject to laboratory turnaround times.

Golden Scheelite is a historically documented tungsten occurrence and past producer. Additional historical technical information regarding the project was previously disclosed by Allegiance in its news release dated October 16, 2026.

The Company intends to evaluate the new mapping, sampling and assay data alongside the historical geological and production record to help prioritize the next phase of exploration.

About Allegiance Resources Corp.

Allegiance Resources Corp. is a Canadian mineral exploration company focused on the acquisition and advancement of tungsten and other critical-metal projects in established mining jurisdictions.

Through its wholly owned U.S. subsidiary, Wolfram Critical Minerals Inc., the Company holds a 100% interest in the Golden Scheelite Tungsten Project in Humboldt County, Nevada.

The Company has also entered into a definitive agreement to acquire the Thanksgiving, Five T's and Rio Grande tungsten projects in British Columbia. Completion of that transaction remains subject to closing conditions, including completion of the required technical report and acceptance by the Canadian Securities Exchange.

Forward-Looking Information

This news release contains forward-looking information within the meaning of applicable Canadian securities laws, including statements regarding confirmation and registration of the newly applied-for mineral claims surrounding Five T's; the anticipated size of the Company's British Columbia land position; completion of the proposed acquisition of the Thanksgiving, Five T's and Rio Grande projects; completion and acceptance of the NI 43-101 technical report; Canadian Securities Exchange acceptance; future exploration of the newly applied-for ground; the timing and receipt of Golden Scheelite assay results; interpretation of those results; corroboration of historical information; and the identification and prioritization of future exploration targets.

Forward-looking information is based on management's current expectations and assumptions and is subject to known and unknown risks and uncertainties that could cause actual results to differ materially, including the possibility that all or a portion of the newly applied-for ground is not confirmed or registered as anticipated, that the final registered area differs from the area applied for, delays in regulatory acceptance or technical-report completion, the possibility that the proposed British Columbia acquisition does not close, laboratory turnaround times, the possibility that historical exploration results cannot be verified, the possibility that exploration does not identify economically significant mineralization, availability of financing, commodity-price volatility, permitting and access requirements and general exploration risks.

There can be no assurance that the newly applied-for claims will be confirmed or registered as anticipated, that the proposed acquisition will close, that assay results will be received within the expected timeframe, that historical results will be independently corroborated or that exploration of the newly applied-for ground will identify tungsten mineralization.

The Company undertakes no obligation to update forward-looking information except as required by applicable securities laws.

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/320349