VANCOUVER, B.C., October 29, 2026 – TheNewswire — Enfield Exploration Corp. ("Enfield" or the "Company") is pleased to announce that, further to its news release dated October 20, 2026, it has completed the consolidation of its common shares (the “Shares”) on the basis of two pre-consolidation Shares for one post-consolidation Share (the “Consolidation”). The Consolidation was completed in connection with the Company’s business combination transaction with Xerient Pharma Ltd. (“Xerient”) (the “Transaction”).

Prior to the Consolidation, the Company had 13,680,695 Shares issued and outstanding. Following the Consolidation, the Company has approximately 6,840,361 Shares issued and outstanding. No fractional Shares were issued under the Consolidation and any fraction was rounded to the nearest whole number. The exercise or conversion price and/or the number of Shares issuable under any of the Company’s outstanding convertible securities, stock options and warrants have been proportionally adjusted to reflect the Consolidation based on the Consolidation ratio (1:2). The record date for the Consolidation was October 28, 2026. The Company’s name has not changed, and the post-Consolidation Shares have a new CUSIP Number 292755303. The Consolidation was approved by the Company’s board of directors in accordance with the Articles of the Company.

A letter of transmittal will be mailed to registered shareholders providing instructions on how to exchange share certificates representing pre-Consolidation Shares for Direct Registration Advice (DRS) representing post-Consolidation Shares to which they are entitled as a result of the Consolidation. No action is required by non-registered shareholders (shareholders who hold their Shares through an intermediary) to effect the Consolidation.

About Enfield Exploration Corp.

Enfield Exploration Corp. is an unlisted reporting issuer that is focused on identifying strategic mergers and acquisition opportunities with the goal of creating long-term value for shareholders through disciplined growth and responsible operations.

For more information about Enfield Exploration Corp., please contact:

Enfield Exploration Corp.

Sukhmohan Athwal, CEO

Sukh85@hotmail.com

604-780-1878

 

Cautionary Statement Regarding Forward-Looking Statements

This news release contains statements which constitute "forward-looking information" within the meaning of applicable Canadian securities laws. Forward-looking information is often identified by the words “may,” “would,” “could,” “should,” “will,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “expect” or similar expressions. Readers are cautioned that forward-looking information is not based on historical facts but instead reflects the Company’s management’s expectations, estimates or projections concerning the business of the Company’s future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: delays in the mailing or processing of letters of transmittal; risks related to the business, operations, financial condition and technology of Xerient; changes in general economic, business and market conditions; fluctuations in currency exchange rates; and other risks described in the Company’s public disclosure documents available on SEDAR+. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

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