Cleghorn Announces Reduction in Stock Options Granted to Adelaide Capital Markets Inc.

Val-d’Or, Québec–(Newsfile Corp. – October 24, 2025) – Cleghorn Minerals Ltd. (TSXV: CZZ) (“Cleghorn” or the “Company”) announces that further to its news release of October 10, 2025, and in order to comply with the policies of the TSX Venture Exchange, the number of incentive stock options granted to Adelaide Capital Markets Inc. (the “Consultant”) under the Company’s stock option incentive plan has been reduced from 100,000 to 64,800 stock options exercisable at $0.05 until October 10, 2030, in accordance with the terms and conditions set forth in the stock option agreement to be entered into between the Company and the Consultant.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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