Early Warning Press Release

The Cromwell Trust has completed a significant share restructuring of Inter-Rock Minerals Inc. for estate planning purposes, transferring 10,096,400 common shares (representing approximately 46% of outstanding shares) to David Crombie, who subsequently gifted equal portions to Michael Crombie and Robert Crombie. This transaction represents a strategic reorganization of control rather than a change in ultimate ownership, as all parties are beneficiaries of the Trust.

The restructuring maintains significant family control over Inter-Rock Minerals. Prior to the transaction, the Trust held both common shares and 17,136,980 Class A Preferred Shares representing 100% of the preferred shares outstanding. The preferred shares carry voting rights and are convertible to common shares on a one-for-one basis, giving the Trust substantial influence over the company. Following the redistribution, the combined holdings of the Trust, Michael Crombie, and Robert Crombie represent approximately 49% of currently outstanding common shares and 71% on a fully-diluted basis assuming conversion of preferred shares.

This transaction highlights the concentrated ownership structure typical of junior mining companies and demonstrates how estate planning considerations can drive significant share movements without impacting operational control. The family's retention of controlling interest provides stability for Inter-Rock Minerals' strategic direction while accomplishing important succession planning objectives. The transaction required early warning disclosure due to the materiality of the share movements and changes in individual beneficial ownership positions.

For the mining sector, this type of estate planning transaction is relatively common among founder-controlled companies as first-generation entrepreneurs begin succession planning. The maintenance of family control while redistributing ownership among multiple beneficiaries often provides both tax advantages and operational continuity, which can be particularly valuable for development-stage mining companies that require long-term strategic consistency.