Arctic Fox Closes Private Placement And Announces Management Changes

(TheNewswire)

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VANCOUVER, BRITISH COLUMBIA (January 13, 2026) – TheNewswire - Arctic Fox Lithium Corp. (CSE: AFX

/ FSE: O5K) (“Arctic Fox”or, the “Company”)announces it has closed the second tranche of its non-brokered privateplacement (the “PrivatePlacement”) of 3,200,000 units (each, a “Unit”) at a price of CAD $0.10 perUnit for gross proceeds of CAD $320,000. Each Unit consisted of onecommon share (a “Share”)and one share purchase warrant (a “Warrant”). Each Warrant entitles the holder to acquire oneadditional Share at a price of CAD$0.12 for a period of 24 months fromthe date of issuance.

The gross proceeds of CAD $500,000 from both tranches of the PrivatePlacement, will be used for general working capital purposes. Allsecurities issued under the Private Placement are subject to a holdperiod of four (4) months plus one (1) day in accordance withapplicable securities laws. No finder’s fees were paid in connectionwith the Private Placement.

Management Changes

The Company further announces the appointment of KirbyRenton as its new director, President and CEO, effectiveimmediately.

Kirby Renton is the current Chief Operating Officer andDirector of UraniumX Development Corp., with over 20 years ofexperience in business development, acquisitions, land services, andoperational leadership. His career spans the energy, midstream, andtechnology sectors, where he has held senior executive and directorroles at Novacor Exploration, Foundation Auto Group, Border SurplusManagement, Renton Land Services, and Predator Midstream. Mr. Rentonbrings a proven track record of driving growth, executing complextransactions, building high-performing teams, and delivering valueacross public and private organizations.

Kirby Renton succeeds Eddy Siu, who resigned as adirector of the Company on January 13, 2026; and Harry Chew, whoresigned as the President and CEO of the Company. Mr. Chew willcontinue to serve on the Company’s board of directors.

The Company thanks Eddy Siu for all his contributionsto the Company and wishes him the best in his future endeavors.

AboutArctic Fox Lithium Corp.

Arctic Fox Lithium Corp. is a junior mineral exploration companyfocused on the acquisition and development of mineral propertiescontaining battery, base and precious metals. The Company’s2,756-hectare Pontax North Lithium Project (“Pontax North”) is located 12 kmsouth of Allkem Ltd. (ASX/TSX: ALLKEM) (“Allkem”) James Bay Lithium Projectand 12 km north of Stria Lithium Inc.’s (CSE: SRA) Pontax LithiumProject, located in northern Québec, approximately 130 km east of theEastmain Cree Nation’s community. The Company is currently planninga second-phase exploration program at Pontax North and continues toevaluate accretive opportunities across the rare earth element andbroader critical-minerals sectors to complement and expand its projectportfolio.

For further information, please contact:

Kirby Renton, Director, President and CEO.

Phone: (604) 689-2646

On behalf of the Board of Directors,

Kirby Renton

Director, President and CEO

Arctic Fox Lithium Corp.

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Neither the Canadian SecuritiesExchange nor its Regulation Services Provider (as that term is definedin the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Forward-LookingInformation: Except forstatements of historic fact this news release contains certain“forward-looking information” within the meaning of applicablesecurities law. Forward-looking information is frequentlycharacterized by words such as “plan” “expect” “project”“intend” “believe”“anticipate” “estimate” and other similar words or statementsthat certain events or conditions “may” or “will” occur.Forward-looking statements are based on the opinions and estimates at the date the statements aremade and are subject to a variety of risks and uncertainties and otherfactors that could cause actual events or results to differ materiallyfrom those anticipated in the forward- looking statements includingbut not limited to the Private Placement. There are uncertaintiesinherent in forward-looking information including factors beyond theCompany’s control. There are no assurances that the business plansfor Arctic Fox described inthis news release will come into effect on the terms or time framedescribed herein. The Company undertakes no obligation to updateforward-looking information if circumstances or management’sestimates or opinions should change except as required by law. Thereader is cautioned not to place undue reliance on forward-lookingstatements. Additional information identifying risks and uncertaintiesthat could affect financial results is contained in the Company’sfilings with Canadian securities regulators which are available atwww.sedarplus.ca

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