Cleghorn Announces a Change of Control Transaction Pursuant to TSX-V Policy

CLEGHORN ANNOUNCES A CHANGE OF CONTROL TRANSACTION

PURSUANT TO TSX-V POLICY

Val-d’Or, Québec, December 18, 2024 – Cleghorn Minerals Ltd. (TSX -V:CZZ)

(“Cleghorn” or the “Company”) announces th at Glenn J. Mullan, a director of Cleghorn

and its President, Chief Executive Officer and Secretary , has acquired ownership of

additional common shares of the Company such that he has become a “Control Person” of

Cleghorn in accordance with TSX Venture Exchange policy and applicable securities

legislation. The acquisition of shares by Mr. Mullan also resulted in a “Change of Control”

in accordance with the policies of the TSX Venture Exchange.

As required by the policies of the Exchange, Cleghorn sought and received disinterested

shareholder approval of the creation of Mr. Mullan as a Control Person at the Annual

General and Special Meeting of Shareholders held by Cleghorn on October 18, 2024.

Following the meeting and on submission by Cleghorn, the Exchange issued its acceptance

of the Change of Control transaction on December 11, 2024.

Further detail with respect to the share acquisition by Mr. Mullan is included in the Early

Warning Report and press release filed by Mr. Mullan with securities regulators in

accordance with early warning reporting obligations under applicable securities legislation.

For additional information, please contact:

Glenn J. Mullan

2772 chemin Sullivan

Val-d’Or, Québec J9P 0B9

Tel.: 819-824-2808, x 204

Email: [email protected]

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.