Or FOR Dissemination in the United States./

OUTCROP SILVER ACQUIRES COMMON

SHARES OF APPLIED GRAPHITE

TECHNOLOGIES CORPORATION

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE

UNITED STATES./

VANCOUVER, BC

,

May 22, 2026

/CNW/ - Applied Graphite Technologies Corporation (TSXV: AGT)

("

AGT

"). This press release is being disseminated by Outcrop Silver & Gold Corporation (the

"

Acquiror

") as required by National Instrument 62-103

The Early Warning System and Related

Take-Over Bids and Insider Reporting Issues

("

NI 62-103

") in connection with its acquisition of

securities of AGT.

Pursuant to a share exchange transaction which closed on May 22 2026, as described in AGT's

press release dated May 22, 2026, the Acquiror acquired an aggregate of 15,000,000 common

shares of AGT ("

AGT Shares

") at a price of CDN$0.10 per AGT Share and now has beneficial

ownership of, and control and discretion over, directly or indirectly, approximately 17.87% of the

issued and outstanding AGT Shares. Prior to the transaction, the Acquiror held no securities of AGT.

The Acquiror acquired the AGT Shares for investment purposes and intends to review its investment

in AGT on a continuing basis. The AGT Shares were acquired as a result of a private acquisition by

way of a share exchange transaction. The Acquirer has a long-term view of the investment and may

acquire additional securities including on the open market or through private acquisitions or sell the

securities including on the open market or through private dispositions in the future depending on

market conditions, reformulation of plans and/or other relevant factors.

The AGT Shares were issued from the treasury of AGT.

The Acquiror has filed an early warning report pursuant to NI 62-103 describing the applicable

transactions above. A copy of this report is available on the Canadian System for Electronic

Document Analysis and Retrieval (SEDAR+) at

www.sedarplus.ca

.

AGT's head office is located at 1111 West Hastings St., Suite 905, Vancouver, British Columbia,

V6E 2J3.

To obtain a copy of the subject early warning report filed by Outcrop Silver & Gold Corporation in

accordance with applicable Canadian securities laws, please contact us at +1 604 638 2545.

SOURCE Applied Graphite Technologies Corporation

View original content:

http://www.newswire.ca/en/releases/archive/May2026/22/c7384.html

%SEDAR: 00052728E

CO: Applied Graphite Technologies Corporation

CNW 18:15e 22-MAY-26