Margaret Lake Announces Termination of Previously Announced Private Placement

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

IN THE UNITED STATES

MARGARET LAKE ANNOUNCES TERMINATION OF

PREVIOUSLY ANNOUNCED PRIVATE PLACEMENT

Vancouver, British Columbia – November 17, 202 5 - Margaret Lake Diamonds Inc. (TSXV:DIA)

(OTC:DDIAF) (FSE:M85) ( "DIA" or the "Company") announces that further to its news release of

September 9, 2025, the Company has terminated its previously announced non-brokered private placement

of up to 9,000,000 units (each, a " Unit") for aggregate gross proceeds of up to $900,000 through the

issuance of Units at a price of $0.10 per Unit.

On behalf of the Board:

Margaret Lake Diamonds Inc.

"R. Nick Horsley"

President, Chief Executive Officer, Chairman

Tel: 604.880.2189 | Email: [email protected]

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

UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE

A VIOLATION OF U.S. SECURITIES LAW.

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 release.

Disclaimer for Forward-Looking Information

This release includes forward-looking statements regarding DIA, and the Letain Project, which may include,

but is not limited to, statements with respect to the completion of the acquisition of the Letain Project, and the

ability to obtain regulatory approvals, and other factors. Often, but not always, Forward-looking statements can

be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends",

"contemplates", "anticipates", "believes", "proposes", "estimates" or variations of such words and phrases, or

state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be

achieved. Such statements are based on the current expectations of the management of each entity. The forward-

looking events and circumstances discussed in this release, including completion of the acquisition of the Letain

Project, may not occur by certain specified dates or at all and could differ materially as a result of known and

unknown risk factors and uncertainties affecting the Company, including the risk that DIA may not obtain all

requisite approvals for the acquisition, including the approval of the TSXV, risks of the resource industry, failure

to obtain any other required regulatory approvals, economic factors, any estimated amounts, timing of the

acquisition and requited payments, the equity markets generally and risks associated with growth, exploration

and development. Although DIA has attempted to identify important factors that could cause actual actions,

events or results to differ materially from those described in forward -looking statements, there may be other

factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-

looking statement can be guaranteed. Except as required by applicable securities laws, forward -looking

statements speak only as of the date on which they are made DIA undertake d no obligation to publicly update

or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.