Sunshine Oilsands Ltd. (the Corporation) has announced a further delay in dispatching its circular originally related to the proposed placing of up to 114,280,000 shares under a specific mandate. According to the announcement, the circular was previously expected to be released on or before February 5, 2026. However, additional time is required to finalize certain information, and the new dispatch date is scheduled on or before March 3, 2026.

The Corporation reminds shareholders and potential investors that the proposed completion of this placing is subject to specific conditions precedent, and there is no certainty that it will proceed. Caution is advised when dealing in the shares.

Sunshine Oilsands Ltd. is a Calgary-based corporation listed on the Hong Kong Stock Exchange since March 1, 2012. It holds approximately one million acres of oil sands and petroleum and natural gas leases in Alberta’s Athabasca oil sands region. The West Ells project area, part of the Corporation’s development plan, has an initial production target of 5,000 barrels per day.