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Gujarat State Fertilizers & Chemicals Ltd.

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./ SASKATOON, SK , March 27, 2026 /CNW/ - Karnalyte Resources Inc. (" Karnalyte " or the " Company ") (TSX: KRN ) today announced its financial results and corporate highlights for the financial year ended December 31, 2025. 2025 HIGHLIGHTS Completion of updated feasibility study and National Instrument 43-101 ("NI 43-101") technical report entitled "NI 43-101 Technical Report on the Feasibility Study of the Wynyard Project, Saskatchewan, Canada" (the "Feasibility Study") confirming a 70-year projected mine life for the Wynyard Project After-tax NPV of $2.04 billion (8% discount rate) and IRR of 12.5% demonstrating strong project economics Planned production of 2.175 million tonnes per year of potash and 104,000 tonnes per year of hydromagnesite at full production NI 43-101 technical report filed on SEDAR+ on January 7, 2026 Sale of non-core farmland assets generating approximately $1.4 million in net proceeds Resolved outstanding legal matters, eliminating previously disclosed contingent liabilities. "In 2025, Karnalyte achieved a major milestone with the completion of the updated feasibility study for the Wynyard Project," said Danielle Favreau, Chief Executive Officer of Karnalyte Resources. "The study confirms the strength of our resource, the long life of the project and the positive economics supporting its development.