ShaMaran Reports Incident at Sarsang Facility

Vancouver, British Columbia – ShaMaran Petroleum Corp. (“ShaMaran” or the “Company”) (TSXV: SNM) (Nasdaq First North: SNM) has been informed by HKN Energy Ltd. (“HKN”), the operator of the Sarsang Block in the Kurdistan region of Iraq, that an explosion occurred earlier today at one of the storage facilities in the Sarang field.

All personnel have been safely accounted for, and no injuries have been reported. HKN has initiated a full assessment of the situation and is coordinating closely with local authorities and relevant stakeholders to manage the response and ensure the safety of surrounding communities.

Operations at Sarsang remain suspended while production at Atrush is also still shut-in as a precaution.

ShaMaran and HKN are committed to the highest standards of safety and environmental responsibility and will provide further updates as more information becomes available.

Sarsang Situation Update Press Release - April 1 2026 ID-94591fc0ed6f