CEO.CA Chairman's Briefing

CALGARY, AB, Aug. 28, 2025 /CNW/ - Fiddlehead Resources Corp. ("Fiddlehead," or the "Company") (TSXV: FHR), is pleased to announce the filing of its unaudited financial and operating results for the three and six months ended June 30, 2025.  Selected financial and operating information should be read in conjunction with Fiddlehead's unaudited interim financial statements and related management's discussion and analysis ("MD&A") for the three and six months ended June 30, 2025 and 2024 ("2025 Q2 Documents"). Financial and operating highlights for the period include:

• Average corporate production of 1,526 BOE/d and 1,581 boe/d for the three and six months ended June 30, 2025, respectively.
• Oil and gas sales totaled $2,774,408 and Funds Flow used in Operations was $925,816.
• On April 10, 2025, Fiddlehead announced that it had entered into a share purchase agreement (the "Purchase Agreement") with a privately owned Central Alberta producer ("PrivateCo") to acquire upstream producing and non-producing assets near Cynthia, Alberta (the "Cynthia Assets"). Pursuant to the terms of the Purchase Agreement, Fiddlehead will acquire all the issued and outstanding shares of PrivateCo (the "Transaction") for total consideration of $21,000,000 (the "Purchase Price"), consisting of $18,000,000 cash consideration and $3,000,000 in units of Fiddlehead ("Unit"). Each Unit consists of one common share of Fiddlehead ("Common Share") valued at a price of $0.20 per share and one whole share purchase warrant ("Warrant"). The acquisition will result in 2,238 BOE/d of additional production.
• Effective June 24, 2025, the Company's Credit Facility agreement was amended. Originally set to mature November 30, 2025, the maturity date was extended eighteen months to December 31, 2026, with monthly interest payments and no fixed required amortization or principal repayment until maturity.
• Fiddlehead reached an agreement with the Vendor of the South Ferrier, Strachan Asset, resulting in the elimination of the deferred consideration to the vendor of $1.25 million and contingent consideration totalling $2.25 million previously announced, due on December 31, 2025 and January 31, 2026, respectively. A resulting gain has been recognized in the interim financial statements for the quarter of $1.94 million.

The table below summarizes selected highlights from the Company's financial and operating results:

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release, including, without limitation, future statements related to anticipated production volumes and the the closing of the Transaction. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in the Company's most recent Management Discussion and Analysis and its Annual Information Form, which are available for view on SEDAR+ at www.sedarplus.ca. These risks include but are not limited to, the risks associated with the oil and natural gas industry, such as exploration, production and general operational risks, the volatility of pricing for oil and natural gas, the inability to market natural gas production and changes in natural gas sale prices, changing investor sentiment about the oil and natural gas industry, any delays in production, marketing and transportation of natural gas, drilling costs and availability of equipment, regulatory approval risks and environmental, health and safety risks. Forward-looking statements contained herein are made as of the date of this news release, and the Company disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. In this press release, all references to "$" are to Canadian dollars.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Fiddlehead Resources Corp.

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