Tana Resources Settles Debt with Share Issuance, Preserves Cash for Exploration

Vancouver, BC — October 22, 2026 — Leads & Copy — Tana Resources Corp. announced Thursday it has entered into debt settlement agreements with several creditors to extinguish $493,688 in outstanding debt through the issuance of 9,873,763 common shares. The shares are being issued at a deemed price of $0.05 per share, a transaction Tana Resources is calling the “Debt Settlement.”

The debt comprises accrued management, consulting, professional geological fees, corporate services fees, office rent, and loans along with interest owed to specific creditors. Tana Resources stated that settling this debt with shares will allow the company to preserve its cash reserves for exploration activities and general working capital.

The closing of the Debt Settlement is anticipated to occur on or about Oct. 28, 2026, pending compliance with the rules of the Canadian Securities Exchange (CSE). All common shares issued as part of the settlement will be subject to a statutory hold period of four months and one day following their issuance, in accordance with Canadian securities laws.

Certain company insiders, including directors, officers, and companies under their control, will be involved in the Debt Settlement, agreeing to settle a combined $187,870 of indebtedness for 3,757,402 common shares.

The participation of these insiders constitutes a “related party transaction” under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). Tana Resources plans to utilize exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101. These exemptions are available because no Tana Resources securities are listed on a market specified by MI 61-101, and at the time the transaction was agreed upon, the fair market value of the securities issued to insiders or the consideration received from them did not exceed 25% of the Company's market capitalization.

Tana Resources does not expect to file a material change report more than 21 days before the closing of the Debt Settlement. The company cited that the specifics of the insider participation were finalized shortly before this announcement, and they aimed to complete the settlement expeditiously. The Debt Settlement is not expected to result in the creation of a new control person for the Company.

Tana Resources Corp. is a Canadian mineral exploration company focused on acquiring and developing mining projects. The company’s current asset is the Thackeray project, a 4,385-hectare property in the Abitibi Greenstone Belt, accessible by road and situated 21 kilometres north of Kirkland Lake, Ontario. The project is prospective for gold and base metals. Tana Resources aims to enhance shareholder value through the acquisition and exploration of technically significant projects, leveraging the extensive experience of its management team in exploration, finance, and public company management.

Source: Tana Resources Corp.