Applied Graphite Technologies Corporation (TSXV: AGT) ("AGT").  This press release is being disseminated by Outcrop Silver & Gold Corporation (the "Acquiror") as required by National Instrument 62-103 The Early Warning System and Related Take-Over Bids and Insider Reporting Issues ("NI 62-103") in connection with its acquisition of securities of AGT.

Pursuant to a share exchange transaction which closed on May 22 2026, as described in AGT's press release dated May 22, 2026, the Acquiror acquired an aggregate of 15,000,000 common shares of AGT ("AGT Shares") at a price of CDN$0.10 per AGT Share and now has beneficial ownership of, and control and discretion over, directly or indirectly, approximately 17.87% of the issued and outstanding AGT Shares. Prior to the transaction, the Acquiror held no securities of AGT.

The Acquiror acquired the AGT Shares for investment purposes and intends to review its investment in AGT on a continuing basis. The AGT Shares were acquired as a result of a private acquisition by way of a share exchange transaction. The Acquirer has a long-term view of the investment and may acquire additional securities including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

The AGT Shares were issued from the treasury of AGT. 

The Acquiror has filed an early warning report pursuant to NI 62-103 describing the applicable transactions above. A copy of this report is available on the Canadian System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca.

AGT's head office is located at 1111 West Hastings St., Suite 905, Vancouver, British Columbia, V6E 2J3.

To obtain a copy of the subject early warning report filed by Outcrop Silver & Gold Corporation in accordance with applicable Canadian securities laws, please contact us at +1 604 638 2545.

SOURCE Applied Graphite Technologies Corporation

SOURCE: Applied Graphite Technologies Corporation

COMTEX_481072386/2197/2026-05-22T18:15:00