Norse GOLD Announces Application FOR Reactivation to TSX-V, Private Placement Financing and Stock Options Grant

NORSE GOLD CORP.

Saskatoon, SK, Canada February 20, 2026

NEX Symbol: VKG.H

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

NORSE GOLD ANNOUNCES APPLICATION FOR

REACTIVATION TO TSX-V, PRIVATE PLACEMENT FINANCING

AND STOCK OPTIONS GRANT

Norse Gold Corp. NEX: VKG.H (the "Corporation" or "Norse Gold") announces that it is applying to the

TSX Venture Exchange ("TSX-V" or the "Exchange") for approval of the reactivation of the Corporation's

listing on the TSX -V as a Tier 2 Mining Issuer (the "Reactivation"). Norse Gold also announces a non-

brokered private placement offering of units of the Corporation (each, a "Unit") for gross proceeds of up to

$1,000,000 (the "Financing"), and the grant of stock options.

Reactivation

The common shares of the Corporation ("Common Shares") are currently listed and posted for trading on

the NEX. As the Corporation's application for reactivation to the TSX -V is based on the same business

with the same principals, TSX-V policies allow discretion to permit reactivation where certain conditions

are satisfied, including: satisfaction of TSX-V Continued Listing Requirements; the Corporation owning a

satisfactory interest in a property or business of merit; the Corporation having an interest in a property from

which it expects to earn significant revenues or incur significant expenditures di rectly related to the

exploration and/or development of the Corporation's assets; and the Corporation having adequate working

capital and financial resources to carry out the Corporation's business plan or recommended work program.

Upon approval by the TSX-V of the Reactivation, the Common Shares will be delisted from the facilities

of the NEX board of the TSX-V and listed on the facilities of the TSX-V, at which point Norse Gold shall

become a Tier 2 Mining Issuer. The Corporation has not yet obtained acceptance of the Reactivation from

TSX-V and there is no assurance that the application will be accepted on the Corporation's expected

timeline or at all.

Private Placement

The Financing consists of a private placement offering by the Corporation of up to 10,000,000 Units at a

price of $0.10 per Unit for gross proceeds of up to $1,000,000. Each Unit will be comprised of one common

share (each a "Common Share") and one common share purchase warrant (each, a "Warrant"), with each

whole Warrant entitling the holder to acquire one Common Share at a price of $0.20 for a period of two (2)

years from the date of issuance. The proceeds from this Financing will be applied towards the payment of

outstanding payables and for exploration work on the Corporation's 3,231-hectare Yellowknife Gold Belt

mineral property located 75 kilometres north of Yellowknife. Program u pdates will be announced when

plans are finalized.

This Financing is subject to the approval of the TSX -V, including the conditional approval of the TSX -V

in respect of the Reactivation . In accordance with applicable securities laws, the C ommon Shares and

Warrants (and the Common Shares issuable upon exercise of the Warrants) issued under this Financing will

be subject to four-month hold periods.

Stock Option Grant

The Corporation has approved the grant of 3.7 million stock options pursuant to the C orporation's stock

option plan. Of the foregoing options, 2 million were granted to directors and executive officers, with the

balance granted to consultants. The options are exercisable at an exercise price of ten cents ($0.10) per

share on or before February 19, 2031, subject to earlier termination in accordance with the Corporation's

stock option plan and the applicable policies of the TSX-V.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Tom MacNeill, Norse Gold Corp.

President and Chief Executive Officer

Phone: (306) 653-2692

Jeff Sheppard, Norse Gold Corp.

Chief Financial Officer

Phone: (306) 653-2692

About the Corporation

Norse Gold's primary asset is its 100% interest in the 3,231 -hectare Morris Lake Property, consisting of

seven contiguous claims and three leases, 75 km north of Yellowknife. Norse Gold plans to a dvance this

brownfields gold exploration project in the Yellowknife Greenstone Belt. Historically, g old was initially

discovered on the property in 1945. Historic work conducted has included over 15,000 meters of diamond

drilling in 100 holes on the Viking Zone, and 33 holes on the Greenlee Zone along with underground

development work at the Viking Zone. Several other gold zones and occurrences to be followed up on have

been located on the property. The geological model for the gold mineralization is that of an Archean lode

gold deposit consisting of gold-bearing veins and shoots within a structurally controlled shear-vein system.

Forward Looking Statements

Except for statements of historical fact relating to the Corporation, certain information contained herein

constitutes forward -looking statements. Forward -looking statements are based on the opinions and

estimates of management at the date the statements are made and are subject to a variety of risks and

uncertainties and other factors that could cause actual events or results to differ materially from those

projected in the forward-looking statements. The Corporation undertakes no obligation to update forward-

looking statements if circumstances or management's estimates or opinions should change. The reader is

cautioned not to place undue reliance on forward-looking statements.

Neither TSX Venture Exchange (nor NEX) nor its Regulation Services Provider (as that term is defined

in the policies of the TSX Venture Exchange and NEX ) accepts responsibility for the adequacy or

accuracy of the release.