AFR NuVenture Resources Inc. Announces completion of its Non-Brokered Private Placement

(TheNewswire)

TORONTO, Ontario, March 6, 2026 – TheNewswire - AFRNuVenture Resources Inc. (“AFR” or the “Company”) (TSXV: AFR),wishes to announce the closing of its non-brokered private placementannounced on February 9, 2026. 7,500,000 Units of the Company (the“Offering”) have been sold at a price of $0.02 per Unit for totalgross proceeds of $150,000. Each Unit consists of one common share(each, a “Share”) and one share purchase warrant (each, a “Warrant”).  EachWarrant will entitle the holder to acquire one additional common share(each, a “WarrantShare”) in the capital of the Company at anexercise price of $0.05 per Warrant Share for a period of five (5)years.  No commissions or finders’ fees are payable in connectionwith the Offering.

The TSX Venture Exchange (the “TSXV”) has advisedthat it does not object to closing the privateplacement. The proceeds derived from the sale ofthe shares will be expended to pay the costs of a preliminaryexploration programs on one or both of the Company’s projects asfollows:

Mary Ann’s Lake Copper/Silver Project -$70,000.

Massey Nickel/Copper Project - $25,000.

Working Capital: General Administrative Expenses andWorking Capital - $55,000.

The Offering was made to investors relying on the“existing security holder” and “accredited investor”exemptions available to AFR under National Instrument 45-106– Prospectus Exemptions.

No new Control Persons or Insiders have been created asa result of this Offering.

Officers and Directors of the Company purchased2,525,000 Units ($50,500) of the Offering. Such participation ofInsiders in the Offering constitutes a “related party transaction”within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders inSpecial Transactions (“MI 61-101”). TheCompany is relying on exemptions from the formal valuation andminority shareholder approval requirements provided under subsections5.5(a) and 5.7(a) of MI 61-101 on the basis that participation in theOffering by Insiders does not exceed 25% of the fair market value ofthe Company’s market capitalization.

All securities issued in connection with the Offeringare subject to a hold period which expires four months and one dayafter today’s date.

The securities offered have not been registered underthe United States Securities Act of 1933, as amended, and may not beoffered or sold in the United States or to, or for the account orbenefit of, U.S. persons absent registration or an applicableexemption from registration requirements. This release does notconstitute an offer for sale of securities in the UnitedStates.

John O’Donnell, the Chairman and CEO of the Companystated that he is extremely pleased that the Company is now able tomove forward with its exploration plans on its two exciting projectsin Cape Breton, Nova Scotia, and the legendary Timmins Mining Camp inOntario.

On behalf of the Board of Directors,

John F. O’Donnell, Chairman and CEO

john@odonnell-law.ca

Telephone: 1 (647) 966-3100

For more information on the Company, investors shouldreview the Company's filings on SEDAR+ at www.sedarplus.ca and ourwebsite at www.afrnuventure.com .

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

This news release contains "forward-lookinginformation" (within the meaning of applicable Canadiansecurities laws) and "forward-looking statements" (withinthe meaning of the U.S. Private Securities Litigation Reform Act of1995). Such statements or information are identified with words suchas "anticipate", "believe", "expect","plan", "intend", "potential","estimate", "propose", "project","outlook", "foresee" or similar words suggestingfuture outcomes or statements regarding an outlook. Such statementsinclude, among others, the Company’s proposed exploration plans.Such forward-looking information or statements are based on a numberof risks, uncertainties and assumptions which may cause actual resultsor other expectations to differ materially from those anticipated andwhich may prove to be incorrect. Assumptions have been made regarding,among other things, management's expectations regarding itsability to raise financing. Actual results could differ materially dueto a number of factors, including, without limitation, regulatoryissues, and market conditions. Although the Company believes that theexpectations reflected in the forward-looking information orstatements are reasonable, prospective investors in the Company'ssecurities should not place undue reliance on forward-lookingstatements because the Company can provide no assurance that suchexpectations will prove to be correct. Forward-looking information andstatements contained in this news release are as of the date of thisnews release and the Company assumes no obligation to update or revisethis forward-looking information and statements except as required bylaw.

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