Fjordland Adopts Semi-Annual Financial Reporting

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Fjordland (OTC:FEXXF) has elected to adopt semi-annual financial reporting under Canadian Securities Administrators’ Blanket Order 51-933. The company qualifies as a venture issuer with under $10 million in annual revenue and a 12‑month disclosure record, and remains subject to all timely disclosure requirements.

Fjordland will no longer file interim reports for Q1 and Q3, with the first skipped period being the quarter ended March 31, 2026. It will file its next interim financial report and MD&A for the six months ended June 30, 2026, due within 60 days, and continue filing audited annual financial statements within 120 days of year-end.

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Vancouver, British Columbia--(Newsfile Corp. - May 20, 2026) - Fjordland Exploration Inc. (TSXV: FEX) ("Fjordland" or the "Company") announces that it has elected to participate in the Coordinated Blanket Order 51-933 - Exemptions to Permit Semi-Annual Reporting for Certain Venture Issuers (the "Blanket Order"), issued by the Canadian Securities Administrators, and move to semi-annual financial reporting. This news release is being filed pursuant to the Blanket Order.

The Blanket Order is a pilot program that permits eligible venture issuers to voluntarily move from quarterly to semi-annual financial reporting. The Company has determined that it meets the eligibility criteria under the Blanket Order, including that it is a venture issuer, has annual revenue of less than $10 million, has a disclosure record of over 12 months, and has filed all required periodic and timely disclosure documents.

As a result of this election, the Company will file interim financial reports and related management's discussion and analysis ("MD&A") on a semi-annual basis, rather than quarterly. The Company's fiscal year-end is December 31 and will continue to file annual audited financial statements (due within 120 days of December 31). The Company will continue to remain subject to timely disclosure requirements and will continue to report all material changes and significant developments in accordance with National Instrument 51-102- Continuous Disclosure Obligations.

Under the Blanket Order, the Company will be exempt from filing interim financial reports and related MD&A for its first and third quarters. The initial period for which the Company will not file a quarterly interim financial report and related MD&A will be for the three months ended March 31, 2026. The Company will file its next interim financial report for the six months ended June 30, 2026 (due within 60 days of June 30, 2026).

ON BEHALF OF THE BOARD OF DIRECTORS

"Gord Friesen"
Gord Friesen, CEO
For further information:
Ph: 604-618-7781
www.fjordlandex.com

Caution Regarding Forward-Looking Information
Certain statements contained in this news release constitute forward-looking information within the meaning of applicable Canadian securities laws. Such forward-looking information includes, without limitation, statements regarding the Company's anticipated financial reporting schedule under the Blanket Order and the Company's continued eligibility to rely on the Blanket Order. Forward-looking information is based on reasonable assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied by such forward-looking information, including the risk that the Company may no longer satisfy the conditions of the Blanket Order or that applicable regulatory requirements may change. Readers are cautioned not to place undue reliance on forward-looking information. The Company undertakes no obligation to update forward-looking information except as required by applicable securities laws.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/298309

FAQ

What change did Fjordland (OTC:FEXXF) announce about its financial reporting schedule on May 20, 2026?

Fjordland announced it will move from quarterly to semi-annual financial reporting under Blanket Order 51-933. According to Fjordland, it will now file interim financial reports and MD&A twice yearly while continuing to provide audited annual statements and timely material disclosure.

When is Fjordland’s next interim financial report due after adopting semi-annual reporting?

Fjordland’s next interim financial report will cover the six months ended June 30, 2026. According to Fjordland, this report and its MD&A are due within 60 days of June 30, 2026, replacing the previous Q1 and Q2 separate filings.

Which Fjordland quarters will no longer have separate interim financial reports under Blanket Order 51-933?

Fjordland will no longer file interim financial reports and MD&A for its first and third fiscal quarters. According to Fjordland, the first affected period is the three months ended March 31, 2026, with future reporting done on a semi-annual basis instead.

Why is Fjordland eligible to use the semi-annual reporting relief under Blanket Order 51-933?

Fjordland qualifies because it is a venture issuer with annual revenue under $10 million and a 12-month disclosure record. According to Fjordland, it has filed all required periodic and timely disclosure documents, meeting the Blanket Order’s key eligibility criteria.

Will Fjordland (OTC:FEXXF) still file audited annual financial statements after moving to semi-annual reporting?

Yes, Fjordland will continue to file audited annual financial statements for its December 31 year-end. According to Fjordland, these annual statements remain due within 120 days of year-end, complementing the new semi-annual interim reporting schedule.

How does Fjordland’s semi-annual reporting election affect ongoing disclosure of material information?

The election does not change Fjordland’s obligations to disclose material information in a timely manner. According to Fjordland, it remains subject to National Instrument 51-102 continuous disclosure rules and will continue reporting all material changes and significant developments.