CanAsia Energy Corp. ("CanAsia") (TSXV: CEC) announced today that its wholly-owned subsidiary, Andora Energy Corporation, has received the Year 1, first tranche $9.5 million payment from the Korea Institute of Geoscience and Mineral Resources in respect of the Cooperative Research and Development Agreement announced on May 6, 2026.

CanAsia is a Calgary, Alberta based oil and gas company with operations in Western Canada.

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.

SOURCE CanAsia Energy Corp.

SOURCE: CanAsia Energy Corp.

FOR FURTHER INFORMATION, PLEASE CONTACT: CanAsia Energy Corp., Jeff Chisholm,
President and CEO (located in Bangkok, Thailand), Email: jeff@canasiacorp.com - or -
Marcel Nunes, Vice President Finance and CFO, Email: marcel@canasiacorp.com,
Telephone: (403) 294-1770

COMTEX_482666917/2197/2026-06-02T08:30:00