Leopard Lake Gold Corp. — Regulatory Filings 2025

May 27, 2025

LEOPARD LAKE GOLD CORP.

Leopard Lake Gold Corp. Provides Bi-Weekly Default Status Report

Vancouver, May 27, 2025

Leopard Lake Gold Corp (CSE: LP) ("Leopard Lake Gold Corp." or the "Company") today is providing this bi-weekly default status report in accordance with National Policy 12-203 Management Cease Trade Orders ("NP 12-203").

On May 1, 2025, the Company announced in a news release (the "MCTO Announcement") that it has been granted a voluntary cease trade order ("MCTO") by British Columbia Securities Commission in accordance with National Policy 12-203 due to time constraints in completing the audit procedures for the filing of its annual financial statements, management's discussion and analysis ("MD&A") (collectively, the "Annual Filings") for the year ended December 31, 2024 on SEDAR within 90 days of its financial year-end. The MCTO prohibits the Chief Executive Officer and Chief Financial Officer from all trading in securities of the Company until such time as the Annual Filings have been filed by the Company and the MCTO has been lifted. The MCTO does not affect the ability of other shareholders of the Company to trade in securities of the Company.

Pursuant to NP 12-203, the Company must file bi-weekly default status reports in the form of further news releases during the period of the MCTO. The Company confirms that since the date of the MCTO Announcement: (i) there has been no material change to the information contained as set out in the MCTO Announcement; (ii) there has been no failure to satisfy the provisions of the alternative information guidelines set out in NP 12-203; (iii) there has not been any other specified default subsequent by the Company under NP 12-203; and (iv) there is no other material information concerning the affairs of the Company that has not been generally disclosed.

The Company reports that it is working diligently with its auditor to complete the audit of the financial statements for the year ended December 31, 2024. The Company expects to file its Annual Filings by June 30, and in any event no later than June 30, 2025, and will issue a news release once they have been filed. Until filing of the Annual Filings, the Company intends to satisfy the provisions of the alternative information guidelines as required by NP 12-203.

On Behalf of the Board of Leopard Lake Gold Corp.

Leopard Lake Gold Corp. is engaged in the business of mineral exploration and the acquisition of mineral property assets in Canada, including the St. Robert property, which is comprised of 273 mining claims in the Riseborough and Marlow Townships in St. Robert Bellarmin, Quebec.

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For further information, please contact:

Daniel Bélanger, Chief Executive Officer and Interim Chief Financial Officer

Email: daniel.belanger.leopard@gmail.com

Phone: (418) 933-3443

Forward-Looking Statements:

This news release contains forward-looking statements and forward-looking information (collectively, "forward looking statements") within the meaning of applicable Canadian and U.S. securities legislation. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the exercise of the incentive stock options, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from the Company's expectations include actual exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated, including, without limitation, risks relating to epidemics or pandemics such There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements.

No stock exchange, regulation securities provider, securities commission or other regulatory authority has approved or disapproved the information contained in this news release.