Goldflare Announces Shares Issued in Settlement of Debt and the Departure of Its Chief Financial Officer

Piedmont, March 30, 2026 - Goldflare Exploration Inc. (TSXV: GOFL) ("Goldflare" or "the Company") announces that the Board of Directors has approved the issuance of 4,404,634 common shares at a deemed price of $0.05 per share to settle $220,231.70 in outstanding debts and accounts payable, including the loan granted to the Company on June 5, 2025 by CEO Michel Desjardins. This transaction complies with the requirements of TSX Venture Exchange Policy 4.3 and does not result in the creation of a control person.

Additionally, the Board of Directors has accepted the resignation of its Chief Financial Officer, David Corbeil-Héneault, effective no later than April 15. The Company would like to sincerely thank Mr. Corbeil-Héneault for his valuable services since 2022.

The Board accepted his decision with regret, as he is leaving the Company to pursue new professional opportunities. In connection with this decision, the Board of Directors has approved the grant of 260,000 common shares of the Company to Mr. Corbeil-Héneault as a severance package, at a deemed price of $0.05 per share.

His successor will be announced in a subsequent press release.

All of these transactions are subject to the final approval of the TSX Venture Exchange.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/290363