Vancouver, British Columbia--(Newsfile Corp. - November 20, 2024) - Radio Fuels Energy Corp. (CSE: CAKE) (OTCQB: CKEFF) (the "Company" or "Radio Fuels") and NV King Goldlands Inc. ("NV King") are pleased to announce the completion of their previously announced plan of arrangement (the "Arrangement"). Pursuant to the Arrangement, Radio Fuels has acquired all of the issued and outstanding shares of NV King (the "NV King Shares") at an exchange ratio of approximately 8.73 common shares of Radio Fuels (each, a "Radio Fuels Share") for each NV King Share. Immediately following completion of the Arrangement, former shareholders of NV King held 40% of the issued and outstanding Radio Fuels Shares.

Highlights:

• Radio Fuels will continue to provide unparalleled leverage to uranium and rare earth elements through its 100% ownership of the Eco Ridge Project.
• Radio Fuels has added significantly to its project portfolio, becoming the largest junior gold explorer in Nevada when measured by mineral tenure. The NV King property portfolio ranks as the third largest in Nevada behind just Nevada Gold Mines (Barrick/Newmont JV) and Kinross Gold Corp.
• Radio Fuels has attained exposure to the Atlanta Gold Mine Project, currently being advanced by Nevada King Gold Corp. (TSXV: NKG), through the 3% net smelter royalty held by NV King.
• Shareholders of NV King will benefit from exposure to the Eco Ridge Project and reduced future share dilution.
• The combined entity has a strong balance sheet with approximately $20-million in cash and marketable securities.

No changes to the Company's board of directors have been made in connection with the Arrangement. Management of the Company will continue to be led by Radio Fuels current senior management team.

In the coming days, Radio Fuels intends to apply for NV King to cease to be a reporting issuer under applicable Canadian securities laws. All registered shareholders of NV King are encouraged to complete, sign and return the letter of transmittal, which has been previously mailed and is available under NV King's SEDAR+ profile on www.sedarplus.ca, with accompanying NV King share certificate(s) and/or DRS advice-statement(s) (if applicable) to Alliance Trust Company as soon as possible, if they have not already done so. Non-registered shareholders of NV King are encouraged to contact their broker or other intermediary for instructions and assistance in receiving the Radio Fuels Shares to which they are entitled.

For more information on the Arrangement, see NV King's management information circular dated October 8, 2024, filed under NV King's SEDAR+ profile on www.sedarplus.ca on October 16, 2024.

About Radio Fuels Energy Corp.

The Company is a junior natural resource company focused on providing exposure to uranium and other commodities through the investment, acquisition, exploration, and development of projects and companies. The company is also the third largest mineral claim holder in the State of Nevada, behind Nevada Gold Mines (Barrick/Newmont) and Kinross Gold Corp. Starting in 2016, NV King has staked large project areas hosting significant historical exploration work along the Battle Mountain trend located close to current or former producing gold mines.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statements Regarding Forward-Looking Information

This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or" should" occur or be achieved. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the proposed benefits of the Arrangement and the Company's future outlook. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Radio Fuels and NV King, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the failure of Radio Fuels to experience the benefits anticipated from the Arrangement.. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Radio Fuels and NV King do not assume any obligation to update these forward-looking statements should they change, except as required by applicable securities laws.