FIDDLEHEAD RESOURCES ANNOUNCES UNCONDITIONAL TRANSFER OF WELL LICENSES, RESULTS OF JULY 10 ANNUAL GENERAL AND SPECIAL MEETING OF SHAREHOLDERS, AND ISSUANCE OF SHARES

CALGARY, AB, Aug. 5, 2025 /CNW/ - Fiddlehead Resources Corp. ("Fiddlehead" or the "Company") is pleased to announce that the Alberta Energy Regulator ("AER") has completed its review of the Directive 088 transfer application related to the well, facility, and pipeline licenses acquired as part of the previously announced Ferrier acquisition.

On Friday, August 1, 2025, the AER transferred the Ferrier licenses to Fiddlehead. The Company is now actively working with the Vendor to transition operatorship of the assets, with completion expected no later than September 1, 2025.

Fiddlehead extends its appreciation to the AER for its diligence and ongoing stewardship of Alberta's energy and mineral resources.

With the successful completion of the Directive 088 license transfer, Fiddlehead is poised to advance its strategy of acquiring and developing high-quality, accretive assets. Furthermore, this milestone represents meaningful progress toward the anticipated closing of Fiddlehead's previously announced Cynthia acquisition.

President, CEO and Chairman Brent Osmond commented:

"The successful completion of the Directive 088 License Transfer Application represents a significant milestone in Fiddlehead's continued growth. With this approval, we now have the ability to directly manage the day-to-day operations of our newly acquired Ferrier assets, fully leverage our team's expertise, and advance firm plans for future capital investment.

Our team has been diligently identifying opportunities to enhance value across the Ferrier assets, and we're excited to begin executing on that potential. On behalf of all Fiddlehead stakeholders, I want to thank the Alberta Energy Regulator for their diligence and collaboration throughout the transfer process.

We are pleased with the outcome and look forward to building our production base and presence as a new operator in the Province of Alberta."

Read the full press release here.