FIDDLEHEAD RESOURCES DISPOSITION OF NON-CORE ACREAGE, DEBT REPAYMENT AND OPERATIONAL UPDATE

CALGARY, AB, March 17, 2026 /CNW/ - Fiddlehead Resources Corp. ("Fiddlehead", or the "Company") (TSXV:FHR) is pleased to announce that it has generated $1.4 million in cash proceeds through the sale of its minority, non-operated working interest in nine sections of non-core acreage. The disposition reduces Fiddlehead's abandonment liabilities by approximately $316,000, based on Alberta Energy Regulator minimum estimates for wells in this area. The disposition reduces overall production by approximately 24.7 boe per day ("boepd") and removes approximately $8,000 in monthly field-level cash flow, equivalent to $96,000 annually. Based on the transaction value, the sale reflects an implied multiple of approximately 16x annual field-level cash flow, representing strong value realization for the Company on a non-core asset.

Proceeds from the disposition will be allocated to both balance sheet strengthening and near-term production optimization. A portion of the proceeds will be used to reduce borrowings under the Company's secured credit facility, strengthening the balance sheet while lowering net debt and future interest expense, with the remaining proceeds funding a four-well workover program expected to add approximately 124 boepd of Company-operated production. The incremental production will flow through Fiddlehead owned and operated facilities, expected to reduce per unit operating expenses and increase netbacks. The proposed workover program is expected to have a two month payback period, representing an excellent use of capital and generating solid returns for shareholders.

 "Fiddlehead is pleased to begin executing on our long-term plan for safe and responsible development of the Ferrier assets," said the Company's CEO, Brent Osmond. "Since acquiring the assets in 2024, our technical team has been evaluating opportunities to enhance production and optimize performance. With operatorship successfully transferred to Fiddlehead in late 2025, we are now in a position to begin executing on those opportunities. This workover program is the first step in our broader plan to responsibly grow production and deliver meaningful value for our shareholders."

Link to full news release here.