PRELIMINARY Q3 2026 RESULTS

OR Royalties earned 20,237 attributable gold equivalent ounces¹ (“GEOs”) in the third quarter of 2026. OR Royalties recorded preliminary revenues from royalties and streams of $90.2 million during the third quarter and preliminary cost of sales (excluding depletion) of $2.9 million, resulting in a quarterly cash margin² of approximately $87.3 million (96.8%). 

As at September 30, 2026, OR Royalties’ cash position was approximately $76.7 million, after repurchases of common shares made under the normal course issuer bid of $29.1 million (C$40.8 million) during the third quarter. The La Verde royalty transaction with Hot Chili Limited closed during the third quarter for a total amount of $15.0 million and was financed using cash available on the balance sheet. 

OR Royalties' revolving credit facility was drawn by $228.2 million at September 30, 2026, leaving $621.8 million of available capacity, plus an uncommitted accordion of up to $350.0 million. 

Q3 2026 RESULTS CONFERENCE AND WEBCAST CALL DETAILS

Notes

The figures presented in this press release, including the cash and debt balances, and the revenues and costs of sales, have not been audited and are subject to change. As the Company has not yet finished its quarter end procedures, the anticipated financial information presented in this press release is preliminary, subject to quarter end adjustments, and may change materially.

1. Gold Equivalent Ounces

GEOs are calculated on a quarterly basis and include royalties and streams. Silver and copper earned from royalty and stream agreements are converted to gold equivalent ounces by multiplying the silver ounces or copper tonnes earned by the average silver price or copper price for the period and dividing by the average gold price for the period. Cash royalties and other metals and commodities are converted into gold equivalent ounces by dividing the associated revenue earned by the average gold price for the period.

Average Metal Prices 

1. The London Bullion Market Association’s pm price in U.S. dollars per ounce.
2. The London Bullion Market Association’s price in U.S. dollars per ounce.
3. The London Metal Exchange’s price in U.S. dollars per tonne.

1. Non-IFRS Measures

Cash margin in dollars and in percentage of revenues are non-IFRS financial measures. Cash margin (in dollars) is defined by OR Royalties as revenues less cost of sales (excluding depletion). Cash margin (in percentage of revenues) is obtained by dividing the cash margin (in dollars) by the revenues.

Management uses cash margin in dollars and in percentage of revenues to evaluate OR Royalties’ ability to generate positive cash flow from its royalty, stream and other interests. Management and certain investors also use this information, together with measures determined in accordance with IFRS Accounting Standards such as gross margin and operating cash flows, to evaluate OR Royalties’ performance relative to peers in the mining industry who present these measures on a similar basis. Cash margin in dollars and in percentage of revenues are only intended to provide additional information to investors and analysts and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS Accounting Standards. They do not have any standardized meaning under IFRS Accounting Standards and may not be comparable to similar measures presented by other issuers.

A reconciliation of the cash margin (in thousands of dollars and in percentage of revenues) is presented below:

About OR Royalties Inc.

OR Royalties is a precious metals royalty and streaming company focused on Tier-1 mining jurisdictions defined as Canada, the United States, and Australia. OR Royalties commenced activities in June 2014 with a single producing asset, and today holds a portfolio of over 200 royalties, streams and similar interests. OR Royalties’ portfolio is anchored by its cornerstone asset, the 3-5% net smelter return royalty on Agnico Eagle Mines Limited’s Canadian Malartic Complex, one of the world’s largest gold mines.

OR Royalties’ head office is located at 1100 Avenue des Canadiens-de-Montréal, Suite 300, Montréal, Québec, H3B 2S2.

In Europe

Swiss Resource Capital AG

Marc Ollinger

info@resource-capital.ch

www.resource-capital.ch

Forward-Looking Statements 

Certain statements contained in this press release may be deemed “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995, as amended and “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking statements are statements other than statements of historical fact, that address, without limitation, future events, that preliminary financial information presented in this press release may be subject to quarter-end adjustments, and the availability of the uncommitted accordion of the credit facility. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential”, “scheduled” and similar expressions or variations (including negative variations), or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors, most of which are beyond the control of OR Royalties, and actual results may accordingly differ materially from those in forward-looking statements. Such risk factors include, without limitation, (i) with respect to properties in which OR Royalties holds a royalty, stream or other interest (collectively an “Interest”); risks related to: (a) the operators of the properties, (b) timely development, permitting, construction, commencement of production, ramp-up (including operating and technical challenges), (c) differences in rate and timing of production from Mineral Resource Estimates or production forecasts by operators, (d) differences in conversion rate from Mineral Resources to Mineral Reserves and ability to replace Mineral Resources, (e) the unfavorable outcome of any challenges or litigation relating to title, permits or licenses, (f) hazards and uncertainty associated with the business of exploration, development and mining including, but not limited to unusual or unexpected geological and metallurgical conditions, slope failures or cave-ins, flooding and other natural disasters or civil unrest or other uninsured risks, (ii) with respect to other external factors: (a) fluctuations in the prices of the commodities that drive royalties, streams, offtakes and investments held by OR Royalties, (b) a trade war or new tariff barriers, (c) fluctuations in the value of the Canadian dollar relative to the U.S. dollar, (d) regulatory changes by national and local governments, including permitting and licensing regimes and taxation policies, regulations and political or economic developments in any of the countries where properties in which OR Royalties holds an Interest are located or through which they are held, (e) continued availability of capital and financing and general economic, market or business conditions, and (f) responses of relevant governments to infectious diseases outbreaks and the effectiveness of such response and the potential impact of such outbreaks on OR Royalties’ business, operations and financial condition; (iii) with respect to internal factors: (a) business opportunities that may or not become available to, or are pursued by OR Royalties, (b) the integration of acquired assets or (c) the determination of OR Royalties’ PFIC status. The forward-looking statements contained in this press release are based upon assumptions management believes to be reasonable, including, without limitation: the absence of significant change in OR Royalties’ ongoing income and assets relating to determination of its PFIC status, and the absence of any other factors that could cause actions, events or results to differ from those anticipated, estimated or intended and, with respect to properties in which OR Royalties holds an Interest, (i) the ongoing operation of the properties by the owners or operators of such properties in a manner consistent with past practice and with public disclosure (including forecast of production), (ii) the accuracy of public statements and disclosures made by the owners or operators of such underlying properties (including expectations for the development of underlying properties that are not yet in production), (iii) no adverse development in respect of any significant property, (iv) that statements and estimates relating to mineral reserves and resources by owners and operators are accurate and (v) the implementation of an adequate plan for integration of acquired assets.

For additional information on risks, uncertainties and assumptions, please refer to the most recent Annual Information Form of OR Royalties filed on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov which also provides additional general assumptions in connection with these statements. OR Royalties cautions that the foregoing list of risk and uncertainties is not exhaustive. Investors and others should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. OR Royalties believes that the assumptions reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be accurate as actual results and prospective events could materially differ from those anticipated under such forward-looking statements and such forward-looking statements included in this press release are not a guarantee of future performance and should not be unduly relied upon. In this press release, OR Royalties relies on information publicly disclosed by other issuers and third parties pertaining to its assets and, therefore, assumes no liability for such third-party public disclosure. These statements speak only as of the date of this press release. OR Royalties undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by applicable law.

Q3 2026 highlights

       Production

• Production totaled 69,665 gold equivalent ounces (“GEO”)¹ in the third quarter of 2026, compared with 72,217 GEO in Q2 2026^2,3 and 72,462 GEO in Q3 2025^4,5. Production for the first nine months of 2026 totaled 214,754 GEO, and the Company remains on track to achieve its annual production guidance of 281,000 to 305,000 GEO⁶.

Growth initiatives

• Approved a 30% expansion of the Séguéla processing plant, supporting annual gold production growth to target over 200,000 ounces from H2 2028.
• Significantly expanded our Diamba Sud Gold Project concession holdings with the acquisition of the immediately adjacent 190 km² Bambadji Project, consolidating ~60 kilometers of prospective strike along the gold prolific Senegal-Mali Shear Zone.

Safety

• The Total Recordable Injury Frequency Rate (TRIFR) was 1.20 per million hours worked in Q3 2026, compared to 1.21 in Q2 2026⁷.

Q3 and 9-month 2026 consolidated GEO production

Notes:

1. Gold equivalent ounces (“GEO”) include gold, silver, lead, and zinc and are calculated using the following metal prices: $4,281/oz Au, $62.70/oz Ag, $1,871/t Pb, and $3,832/t Zn, or Au:Ag = 1:68.27, Au:Pb = 1:2.29, Au:Zn = 1:1.12
2. Refer to Fortuna news release dated July 9, 2026, “Fortuna reports second quarter 2026 production of 72,217 gold equivalent ounces and advances key growth initiatives.”
3. GEO includes gold, silver, lead, and zinc and is calculated using the following metal prices: $4,446/oz Au, $75.21/oz Ag, $1,930/t Pb and $3,464/t Zn, or Au:Ag = 1:59.11, Au:Pb = 1:2.30, Au:Zn = 1:1.28.
4. Refer to Fortuna news release dated October 8, 2025, “Fortuna delivers production of 72,462 gold equivalent ounces for the third quarter of 2025.”
5. GEO includes gold, silver, lead, and zinc and is calculated using the following metal prices: $3,467/oz Au, $39.35/oz Ag, $1,962/t Pb and $2,815/t Zn, or Au:Ag = 1:88.10, Au:Pb = 1:1.77, Au:Zn = 1:1.23.
6. Refer to Fortuna news release dated January 15, 2026, “Fortuna Achieves 2025 Production Guidance, Delivering 317,001 GEO, and Issues 2026 Outlook.”
7. Refer to Fortuna “Management´s Discussion and Analysis for the three and six months ended June 30, 2026”

West Africa RegionSéguéla Mine, Côte d’Ivoire: 30% plant expansion approved; annual gold production to target over 200,000 ounces from H2 2028

Notes:

1. Refer to Fortuna news release dated July 9, 2026, “Fortuna reports second quarter 2026 production of 72,217 gold equivalent ounces and advances key growth initiatives.”
2. Production includes doré only

Mining

During the third quarter of 2026, Séguéla mined 340,714 tonnes of ore at an average grade of 2.69 g/t Au from the Antenna, Ancien, Sunbird, and Koula pits, containing an estimated 29,516 ounces of gold. This compared with 433,231 tonnes of ore mined at an average grade of 3.06 g/t Au in the second quarter of 2026, containing an estimated 42,555 ounces of gold. Waste mined during the quarter totaled 6.5 million tonnes, resulting in a strip ratio of 19.1:1. At the Sunbird South pit, a further 623,390 tonnes of waste were excavated to advance access to the planned portal location for the Sunbird underground mine.

Third quarter mining performance and gold production were affected by reduced equipment availability at one of the Company’s mining contractors and a temporary site-wide stoppage caused by a blockade by artisanal miners operating in the surrounding area. The blockade was lifted following intervention by a government law enforcement agency, and normal operations resumed. These disruptions reduced mining volumes and delayed access to higher-grade ore. Corrective measures were implemented with the mining contractor, and mining volumes returned to planned levels in September.

Processing

Séguéla produced 33,744 ounces of gold in the third quarter of 2026, compared with 41,683 ounces in the second quarter, reflecting lower tonnes milled, head grade, and recovery. The plant processed 402,440 tonnes at an average head grade of 2.67 g/t Au and at a recovery rate of 90.75%.

Gold production is expected to recover to first-half 2026 levels in the fourth quarter as mining volumes normalize and access to higher-grade ore improves. The 1.35% quarter-over-quarter decrease in plant recovery was attributed to localized metallurgical characteristics of the Koula ore. 

Year-to-date production

Séguéla produced 117,443 ounces of gold in the first nine months of 2026 and remains on track to achieve the lower end of its annual production guidance.

Project Updates

30% Plant Expansion 

During the third quarter, the Board approved a $109 million budget for a 30% expansion of the Séguéla processing plant. The expansion will increase annual throughput to 2.3 million tonnes, restore gold recoveries to the original design rate of 94%, and support annual gold production target of over 200,000 ounces from the second half of 2028.

Detailed engineering is underway with Lycopodium, the EPCM contractor. The owner’s project team is 75% onboarded, and vendors have been selected for key equipment and infrastructure packages. Project completion and commissioning are scheduled for the third quarter of 2028.

Sunbird Underground Project

The Sunbird Underground Project, which is expected to begin supplying mill feed to the expanded plant in 2028, continued to advance during the quarter. The Environmental and Social Impact Assessment (“ESIA”) has been approved, with final permitting expected in the fourth quarter of 2026.

The underground project team has been recruited and is advancing pre-development and operational readiness activities. Major mining equipment has been ordered for delivery in line with the project schedule, and portal construction and development are expected to commence in the second quarter of 2027.

The underground mine design supports expected steady-state production of approximately 1 million tonnes per annum, equivalent to 40% of the expanded plant throughput.

The Sunbird underground deposit remains open at depth, with additional drilling planned from future underground platforms to test its growth potential.

Exploration Activities

Exploration during the quarter focused on converting Inferred Mineral Resources at the Sunbird Underground and Kingfisher deposits and on step-out drilling beyond the boundaries of the current Inferred Resources.

During the fourth quarter of 2026 and into 2027, drilling will focus on other priority targets, including the underground potential at Ancien, southern and depth extensions to the Antenna pit, and emerging prospects across the Séguéla property.

Diamba Sud Gold Project, Senegal: Drilling commences at the Bambadji property

During the third quarter of 2026, Fortuna acquired the 190 km² Bambadji advanced gold exploration project, immediately adjacent to Diamba Sud. The acquisition consolidates approximately 60 kilometers of prospective strike along the Senegal-Mali Shear Zone, where exploration has commenced with six drill rigs.

Diamba Sud continues to advance toward a final investment decision in the fourth quarter as the Company completes the final stages of negotiations for the tax stability agreement with the State of Senegal. First gold pour remains on track for the second quarter of 2028.

Latin America region Lindero Mine, Argentina: Gold production increases 25% quarter-over-quarter; on track to meet annual guidance

Notes:

1. Refer to Fortuna news release dated July 9, 2026, “Fortuna reports second quarter 2026 production of 72,217 gold equivalent ounces and advances key growth initiatives.”
2. Production includes doré, gold-in-carbon, and gold in copper concentrate.

Mining

During the third quarter of 2026, Lindero mined 2.3 million tonnes of ore at a strip ratio of 0.85:1 and stacked 1.9 million tonnes on the leach pad at an average grade of 0.63 g/t, containing an estimated 37,746 ounces of gold. Gold ounces placed on the leach pad increased by 18% compared with the second quarter, driven by improved mechanical availability across the processing circuit and higher crushing and stacking rates.

During the first nine months of 2026, Lindero placed approximately 99% of the planned gold ounces for the period on the leach pad. 

Processing

Lindero produced 26,024 ounces of gold in the third quarter of 2026, a 25% increase from the second quarter and consistent with the second-half operating plan.

Year-to-date production

Lindero produced 68,398 ounces of gold in the first nine months of 2026 and remains on track to achieve its annual production guidance. 

Exploration activities

Drilling to test extensions of mineralization beneath the ultimate Mineral Reserve pit shell at Lindero was completed as planned during the quarter. Assay results have been reported from the commercial laboratory and will be evaluated to determine the potential for future resource growth.

Caylloma Mine, Peru: On track to exceed annual production guidance; tailings storage expansion 64% complete

Notes:

1. Refer to Fortuna news release dated July 9, 2026, “Fortuna reports second quarter 2026 production of 72,217 gold equivalent ounces and advances key growth initiatives.”
2. Metallurgical recovery for silver is calculated based on silver content in lead concentrate.
3. GEO production includes gold, silver, lead, and zinc and is calculated using the following metal prices: $4,281/oz Au, $62.70/oz Ag, $1,871/t Pb and $3,832/t Zn, or Au:Ag = 1:68.27, Au:Pb = 1:2.29, Au:Zn = 1:1.12.
4. GEO production includes gold, silver, lead, and zinc and is calculated using the following metal prices: $4,446/oz Au, $75.21/oz Ag, $1,930/t Pb and $3,464/t Zn, or Au:Ag = 1:59.11, Au:Pb = 1:2.30, Au:Zn = 1:1.28.

Mining

Caylloma mined 139,868 tonnes of ore in the third quarter of 2026, in line with the mine plan. Plant throughput of 140,832 tonnes was broadly consistent with the second quarter, with the difference between tonnes mined and processed reflecting the use of ore stockpile.

Processing

During the third quarter, Caylloma produced 247,367 ounces of silver, a 7% increase from the second quarter, supported by a higher average head grade of 66 g/t and improved recovery. Zinc and lead production totaled 11.4 million pounds and 8.4 million pounds, respectively, at average head grades of 4.08% zinc and 2.98% lead. 

The quarter's performance reflects steady plant operations, consistent throughput, and continued strong contribution from base metal production.

Year-to-date production

Caylloma produced 9,897 GEO in the third quarter and 28,913 GEO during the first nine months of 2026, close to the lower end of its annual guidance range of 29,000 to 33,000 GEO and positioning the operation to exceed its annual guidance by year-end.

Project update

As of September 30, 2026, the expansion of the tailings storage facility No. 3 was approximately 64% complete and on schedule for completion by year-end. The expansion is expected to provide the additional tailings storage capacity required to support operations for several more years.

Qualified Person

Eric Chapman, Senior Vice President of Technical Services for Fortuna Mining Corp., is a Professional Geoscientist registered with Engineers and Geoscientists British Columbia (Registration No. 36328), and a Qualified Person as defined by National Instrument 43-101- Standards of Disclosure for Mineral Projects. Mr. Chapman has reviewed and approved the scientific and technical information contained in this news release and has verified the underlying data.

About Fortuna Mining Corp. 

Fortuna Mining Corp. is a Canadian precious metals mining company with three operating mines, the feasibility-stage Diamba Sud Gold Project in Senegal, and a portfolio of exploration projects in Argentina, Côte d’Ivoire, Guinea, Guyana, and Peru. Sustainability is at the core of our operations and stakeholder relationships. We produce gold and silver while creating long-term shared value through efficient production, environmental stewardship, and social responsibility. For more information, please visit our website at www.fortunamining.com

ON BEHALF OF THE BOARD

Jorge A. Ganoza 

CEO and Director

Fortuna Mining Corp.

Investor Relations: 

Carlos Baca | info@fmcmail.com | fortunamining.com | X | LinkedIn | YouTube | Instagram | TikTok

In Europe

Swiss Resource Capital AG

Marc Ollinger

info@resource-capital.ch

www.resource-capital.ch

Forward-looking Statements This news release contains forward-looking statements which constitute “forward-looking information” within the meaning of applicable Canadian securities legislation and “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 (collectively, “Forward-looking Statements”). All statements included herein, other than statements of historical fact, are Forward-looking Statements and are subject to a variety of known and unknown risks and uncertainties which could cause actual events or results to differ materially from those reflected in the Forward-looking Statements. The Forward-looking Statements in this news release include, without limitation, statements about the Company’s plans for its mines and mineral properties; statements reiterating the Company’s 2026 annual production guidance and the likelihood of the Company meeting such annual production guidance, including that the Caylloma Mine is on track to exceed annual gold production guidance; statements relating to the planned underground project at the Séguéla Mine and the anticipated timing for final permitting and commencement of portal construction and development and for supplying mill feed to the expanded plant; statements regarding the processing plant expansion at Séguéla, including the estimated resulting increase in tonnes milled, improvement in recoveries, annual gold production growth, and anticipated project completion and commissioning timeline; expectations that gold production at Séguéla will recover to first-half 2026 levels in the fourth quarter; statements regarding the Company’s brownfields and greenfields exploration activities; statements regarding the development of the Diamba Sud gold project, including advancement towards a final investment decision and first gold pour; statements regarding the project to increase tailings storage facility at the Caylloma Mine, including the expected completion timeline; the Company’s business strategy, plans and outlook; the merit of the Company’s mines and mineral properties; the future financial or operating performance of the Company; the Company’s ability to comply with contractual and permitting or other regulatory requirements; approvals and other matters.  Often, but not always, these Forward-looking Statements can be identified by the use of words such as “estimated,” “potential,” “open,” “future,” “assumed,” “projected,” “used,” “detailed,” “has been,” “gain,” “planned,” “reflecting,” “will,” “anticipated,” “estimated,” “containing,” “remaining,” “to be,” or statements that events, “could” or “should” occur or be achieved and similar expressions, including negative variations. 

Forward-looking Statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by the Forward-looking Statements. Such uncertainties and factors include, among others, operational risks associated with mining and mineral processing; uncertainty relating to Mineral Resource and Mineral Reserve estimates; uncertainty relating to capital and operating costs, production schedules and economic returns; risks relating to the Company’s ability to replace its Mineral Reserves; risks associated with mineral exploration and project development; uncertainty relating to the repatriation of funds as a result of currency controls; environmental matters including obtaining or renewing environmental permits and potential liability claims; uncertainty relating to nature and climate conditions; laws and regulations regarding the protection of the environment (including greenhouse gas emission reduction and other decarbonization requirements and the uncertainty surrounding the interpretation of omnibus Bill C-59 and the related amendments to the Competition Act (Canada); risks associated with political instability and changes to the regulations governing the Company’s business operations; changes in national and local government legislation, taxation, controls, regulations and political or economic developments in countries in which the Company does or may carry on business; risks associated with war, hostilities or other conflicts, such as the Ukrainian – Russian, Israel- – Hamas, and Iran – Israel and United States conflicts, and the impacts such conflicts may have on global economic activity; risks relating to the termination of the Company’s mining concessions in certain circumstances; developing and maintaining relationships with local communities and stakeholders; risks associated with losing control of public perception as a result of social media and other web-based applications; potential opposition to the Company’s exploration, development and operational activities; risks related to the Company’s ability to obtain adequate financing for planned exploration and development activities; property title matters;  risks relating to the integration of businesses and assets acquired by the Company; impairments; risks associated with climate change legislation; reliance on key personnel; adequacy of insurance coverage; operational safety and security risks; legal proceedings and potential legal proceedings;   uncertainties relating to general economic conditions; risks relating to a global pandemic, which could impact the Company’s business, operations, financial condition and share price; competition; fluctuations in metal prices; risks associated with entering into commodity forward and option contracts for base metals production; fluctuations in currency exchange rates and interest rates; tax audits and reassessments; risks related to hedging; uncertainty relating to concentrate treatment charges and transportation costs; sufficiency of monies allotted by the Company for land reclamation; risks associated with dependence upon information technology systems, which are subject to disruption, damage, failure and risks with implementation and integration;  labor relations issues; as well as those factors discussed under “Risk Factors” in the Company's Annual Information Form. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in Forward-looking Statements, there may be other factors that cause actions, events, or results to differ from those anticipated, estimated or intended.

Forward-looking Statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to the accuracy of the Company’s current Mineral Resource and Mineral Reserve estimates; that the Company’s activities will be conducted in accordance with the Company’s public statements and stated goals; that there will be no material adverse change affecting the Company, its properties or its production estimates (which assume accuracy of projected head grade, mining rates, recovery timing, and recovery rate estimates and may be impacted by unscheduled maintenance, labor and contractor availability and other operating or technical difficulties); the duration and effect of global and local inflation; geo-political uncertainties on the Company’s production, workforce, business, operations and financial condition; the expected trends in mineral prices, inflation and currency exchange rates; that all required approvals and permits will be obtained for the Company’s business and operations on acceptable terms including for the construction of a mine at the Diamba Sud Project and the underground mining method at the Séguéla Mine; that there will be no significant disruptions affecting the Company’s operations and such other assumptions as set out herein. Forward-looking Statements are made as of the date hereof and the Company disclaims any obligation to update any Forward-looking Statements, whether as a result of new information, future events, or results or otherwise, except as required by law. There can be no assurance that these Forward-looking Statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on Forward-looking Statements.

Cautionary Note to United States Investors Concerning Mineral Resources and Mineral Reserves

Technical disclosure regarding the Company’s properties included herein has been prepared in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects (“NI 43-101”) and the Canadian Institute of Mining, Metallurgy, and Petroleum Definition Standards on Mineral Resources and Mineral Reserves. Canadian standards, including NI 43-101, differ from the requirements of the Securities and Exchange Commission, and information included herein may not be comparable to similar information disclosed by U.S. companies.

that its workforce has ratified a new collective bargaining agreement with the United Steel Workers International Union (USW) at the Stillwater East mine and Columbus metallurgical facility in Montana in the United States, effective retroactively from 1 June 2026 to 31 May 2029. 

The new agreement covers a broad range of terms, including a wage increase of 4.5% in year one, the greater of 3.5% or Consumer Price Index (“CPI”) in year two, and the greater of 3.0% or CPI in year three of the agreement.

The ratification of the collective bargaining agreement brings to a close the strike notice and strike action since 3 September 2026 and employees are expected to resume their duties in accordance with the approved work schedules on day shift, Friday 9 October 2026.

Conclusion of new collective bargaining agreements at its US PGM operations

The newly ratified collective bargaining agreements at Stillwater East, the Columbus metallurgical facility and East Boulder, respectively, represent an important milestone in the transformation of the US PGM operations, supporting the transition to fully mechanised mining, the implementation of team-based incentives, and the alignment of certain legacy benefits with current United States market standards.

Commenting on the conclusion of the collective bargaining agreement processes at the US PGM operations, Richard Stewart, CEO of Sibanye-Stillwater, said: “We would like to acknowledge the Stillwater East, Columbus metallurgical and East Boulder employees and affiliated USW members for their constructive engagement throughout the negotiations. We are pleased to have concluded multi-year collective bargaining agreements that support the long-term sustainability and competitiveness of the US PGM operations, preserving these strategic assets, in the interests of all stakeholders.”

About Sibanye-Stillwater 

Sibanye-Stillwater is a global mining and metals processing group with a diverse portfolio of operations, projects and investments across five continents. The Group is also one of the foremost global recyclers of a suite of metals and has interests in leading secondary mining operations.

Sibanye-Stillwater is one of the largest producers and refiners of platinum group metals (PGMs: platinum, palladium, rhodium, iridium and ruthenium) and is a top-tier gold producer. It also produces nickel, chrome, copper, silver, cobalt and zinc. The Group has also diversified into mining and processing battery metals and has increased its presence in the circular economy by expanding its recycling and secondary-mining exposure globally. For more information, see www.sibanyestillwater.com. 

Investor relations contact:

Email: ir@sibanyestillwater.com

Website: www.sibanyestillwater.com

LinkedIn: https://www.linkedin.com/company/sibanye-stillwater  

Facebook: https://www.facebook.com/SibanyeStillwater       

YouTube: https://www.youtube.com/@sibanyestillwater/videos  

X: https://twitter.com/SIBSTILL  

In Europe

Swiss Resource Capital AG

Marc Ollinger

info@resource-capital.ch

www.resource-capital.ch

Sponsor: J.P. Morgan Equities South Africa Proprietary Limited

DISCLAIMERFORWARD LOOKING STATEMENTS

This announcement contains forward-looking statements within the meaning of the “safe harbour” provisions of the United States Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this presentation may be forward-looking statements. Forward-looking statements may be identified by the use of words such as “will”, “would”, “expect”, “forecast”, “potential”, “may”, “could”, “believe”, “aim”, “anticipate”, “intend”, “target”, “estimate” and words of similar meaning.

These forward-looking statements, including among others, those relating to Sibanye Stillwater Limited’s (Sibanye-Stillwater or the Group) future financial position, business strategies and other strategic initiatives, business prospects, industry forecasts, production and operational guidance, climate and ESG-related targets and metrics, and plans and objectives for future operations, project finance and the completion or successful integration of acquisitions, are necessarily estimates reflecting the best judgement of Sibanye-Stillwater’s senior management. Readers are cautioned not to place undue reliance on such statements. Forward-looking statements involve a number of known and unknown risks, uncertainties and other factors, many of which are difficult to predict and generally beyond the control of Sibanye-Stillwater that could cause its actual results and outcomes to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. As a consequence, these forward-looking statements should be considered in light of various important factors, including those set forth in Sibanye-Stillwater’s 2025 Integrated Report and annual report on Form 20-F filed with the Securities and Exchange Commission (SEC) on 24 April 2026 (SEC File no. 333-234096). These forward-looking statements speak only as of the date of this presentation. Sibanye-Stillwater expressly disclaims any obligation or undertaking to update or revise any forward-looking statement (except to the extent legally required).

Websites

References in this announcement to information on websites (and/or social media sites) are included as an aid to their location and such information is not incorporated in, and does not form part of, this announcement.

Tony Makuch, Discovery’s President, CEO and Chairman, commented: “We want to thank the Mexican regulators and authorities for their trust in us as we advance Cordero forward as a model of sustainability for all stakeholders. Cordero is a large-scale silver project that will produce the right mix of critical metals the world needs, with minimal negative environmental impact, while improving the use of water resources in the region, and generating substantial socio-economic benefits for Mexico. The project will create thousands of jobs, provide considerable training and multi-generational skills development, and will deliver significant economic contributions to the region and the country.”  

ABOUT DISCOVERY 

Discovery Mining Ltd. is a growing precious metals company that is creating value for stakeholders through exposure to gold, silver and other critical minerals. Discovery’s silver exposure comes mainly from the 100%-owned Cordero project, one of the world’s largest undeveloped silver deposits, which is located close to infrastructure in a prolific mining belt in Chihuahua State, Mexico. In Canada, the Company is advancing plans to more than double annual gold production through investment in its Porcupine assets, which include multiple operations, attractive growth projects and significant exploration upside in one of the world’s most renowned gold camps in and near Timmins, Ontario. The acquisition of the Kidd Operations in June 2026 further increased Discovery’s land position within the camp, provided valuable infrastructure that will support the Company’s growing gold business, and added critical minerals to the Company’s current production profile.  

On Behalf of the Board of Directors, 

Tony Makuch, P. Eng 

President, CEO & Chairman 

For further information contact:                                                     

Mark Utting, CFA 

EVP, Investor Relations and Communications 

Phone: 416-806-6298 

Email: mark.utting@dsvmining.com 

Website:www.dsvmining.com   

In Europe

Swiss Resource Capital AG

Marc Ollinger

info@resource-capital.ch

www.resource-capital.ch

FORWARD-LOOKING STATEMENTS 

This press release contains forward-looking statements relating to expected future events, including without limitation the advancement of the development of the Cordero Project and the Company’s growth plans, all of which involve risks and uncertainties. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, investors cannot be assured that actual results will be consistent with these forward-looking statements, and the differences may be material. Actual results and growth plans may change, and may differ materially from management expectations as projected in such forward-looking statements for a variety of reasons, including market and general economic conditions (including as a result of tariffs and other trade measures); price of gold, silver and other commodities; timing of receipt of permits, availability of water and power, availability of labour and other local economics, and the other risks and uncertainties discussed in the materials filed by the Company with the Canadian securities regulatory authorities and available on SEDAR+ at www.sedarplus.ca.  

Discovery disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.  

The results identify higher-grade, near-surface mineralization in the gap between Airstrip and Powerline and identify additional high-grade Airstrip horizons outside the current conceptual pit boundary. The drilling forms part of Banyan’s ongoing work to improve confidence in the resource model, test higher-grade targets and resource expansion opportunities, and establish AurMac’s development potential.

Highlights from Airstrip and North Powerline area:

AX-26-729 – 5.59 g/t Au over 2.0 m, within 1.19 g/t Au over 12.1 m; including 10.10 g/t Au over 0.9m

AX-26-730 – 6.79 g/t Au over 3.3 m, including 9.90 g/t Au over 1.0 m and 13.50 g/t Au over 0.8 m

AX-26-942 – 1.88 g/t Au over 17.9 m, within 1.01 g/t Au over 36.1 m

AX-26-897 – 0.96 g/t Au over 27.5 m, including 4.12 g/t Au over 5.1 m

AX-26-899 – 0.84 g/t Au over 5.4 m, and 5.76 g/t Au over 1.7 m

*Note: drillholes AX-26-729 and -730 were drilled in 2025 and analysed in 2026.

“The intersection of 1.88 g/t Au over 17.9 m in AX-26-942 highlights the potential for higher-grade near-surface mineralization in the largely undrilled gap between Airstrip and Powerline,” stated Tara Christie, President and CEO. “The Airstrip footwall results identify additional higher-grade targets for follow-up. AurMac already has significant scale and our focus is on improving resource confidence and defining higher-grade areas that could contribute to a mine plan. Our first Preliminary Economic Assessment is targeted for completion in the fourth quarter of 2026 and will evaluate AurMac’s economic potential. These results reinforce that exploration opportunities remain at AurMac, alongside the early discoveries at Nitra. Our strengthened treasury gives us the flexibility to pursue this work, with disciplined spending directed toward results and strategic milestones.”

Figure 1: Plan map of AurMac, Yukon, Canada. Drillholes reported in this release highlighted in blue, pending results are shown in green, previously released 2026 drilling is shown in orange, and all other diamond drilling pre-2026 in black. The reported holes have potential to extend higher-grade mineralized domains in the gap between the Airstrip and Powerline deposits and in the footwall of Airstrip. Detailed drillhole maps and sections are included below with a plan map of Airstrip (Figure 2) and cross-sections (Figures 3 to 5). 

Figure 2: Plan map of Airstrip. Cross sections are denoted by blue lines (Figures 3 to 5). Cross section across the Airstrip Deposit at 467250mE (Figure 3) shows the potential for high-grade mineralization between the pits. Cross sections at 467400mE (Figure 4) and 467600mE (Figure 5) show potential for additional mineralized horizons in the footwall of Airstrip below the conceptual pit boundary. 

Figure 3: Cross-section 467250mE through Airstrip and Powerline North at AurMac. Mineralized domains are overlaid on the lithological model. Hole AX-26-942 identifies a near-surface mineralized interval between the deposits; high-grade mineralization is hosted in extensional quartz veins with visible gold and associated bismuth sulphosalts and arsenopyrite (Figures 6 and 7). Mineralization remains open at depth. The interval in AX-26-942 highlights the potential to extend and identify new mineralized domains and upgrade domains on the margins of high-grade cores and between the Airstrip and Powerline Deposits. The Mineral Resource Estimate (“MRE”) block model is constrained by mineralized and lithological domains. Mineral Resource blocks are 10 m x 10 m x 5 m. Only blocks above the 0.30 g/t Au cut-off and within the US$3,500/oz Au conceptual pit shell are included in the MRE.

Figure 4: Cross-section 467400mE through the eastern end of Airstrip at AurMac. Mineralized domains are overlaid on the lithological model. Mineralization remains open at depth, with new high-grade sulphide replacement horizons identified below Cal 2 in the footwall quartzite of Airstrip (Figure 9). These domains fall outside of the conceptual pit boundary and demonstrate the potential for resource expansion at Airstrip. The MRE block model is constrained by mineralized and lithological domains. Mineral Resource blocks are 10 m x 10 m x 5 m. Only blocks above the 0.30 g/t Au cut-off and within the US$3,500/oz Au conceptual pit shell are included in the MRE.

Figure 5: Cross-section 467600mE through the eastern end of Airstrip at AurMac. Mineralized domains are overlaid on the lithological model. Mineralization in AX-26-730 confirms the extension of the Cal 2 horizon and potential to convert non-estimated blocks in the MRE with high-grade mineralization (Figure 10). The MRE block model is constrained by mineralized and lithological domains. Mineral Resource blocks are 10 m x 10 m x 5 m. Only blocks above the 0.30 g/t Au cut-off and within the US$3,500/oz Au conceptual pit shell are included in the MRE.

Lithological domains at Powerline are dominated by metasedimentary rocks of various compositions, typically mica-chlorite schists with varying calcareous content. Domains shown in this section are: CLSR_4 and 5 – chlorite-sericite schist; CSCH_1 and 3 – calcareous schist; and sch_2 – heterogeneous schist. Altered host rocks with intense silicification and meta-greenstones are the preferential hosts for extensional quartz veining (Figures 6 and 7). Lithologic domains at Airstrip are dominated by calcareous metasedimentary rocks that readily undergo calc-silicate alteration and sulphide replacement mineralization (Figures 9 and 10). Calcareous metasedimentary rocks overlie quartzites. Domains Cal_1 and Cal_2 – calcareous metasedimentary rocks are the primary host for gold mineralization at Airstrip, with extensional quartz veins hosted in the quartzite (“QTZT”).

Figures 6 and 7: Mineralized extensional quartz veins in metasedimentary rocks of the Hyland Group from diamond drillhole AX-26-942 in Powerline North. Extensional quartz vein at 27.2 m - 28.0 m contains over 20 grains of visible gold spatially associated with bismuth sulphosalts and aggregates of arsenopyrite (Figure 8). Large (> 10 cm) extensional quartz veins are found throughout the interval from 9.0 m - 45.1 m, highlighting potential for well-mineralized zones near surface between the Airstrip and Powerline pits. 

Figure 8: Visible gold in extensional quartz veins from hole AX-26-942, from 27.2 m - 28.0 m: Top left: gold intergrown with acicular bismuth sulphosalts. Top right: gold intergrown with acicular bismuth sulphosalts and arsenopyrite aggregates. Bottom left: gold spatially associated with arsenopyrite aggregates and acicular bismuth sulphosalts. Bottom right: gold associated with arsenopyrite aggregates and concentrated along late fractures within quartz vein.

Figure 9: Metasedimentary rocks with semi-massive pyrrhotite and arsenopyrite replacement mineralization from diamond drillhole AX-26-729. Host rock displays calc-silicate alteration and intense silicification, typical of high-grade mineralization in the Airstrip deposit. This interval illustrates the potential for additional horizons in the Airstrip footwall, outside of the conceptual pit boundary.

Figure 10: Metasedimentary rocks with semi-massive pyrrhotite and arsenopyrite replacement mineralization from diamond drillhole AX-26-730. Host rock displays calc-silicate alteration and intense silicification, typical of high-grade mineralization in the Airstrip deposit.

Table 1: Intervals from Airstrip and Powerline 

Note: Calculated true widths are approximate and vary by drillhole; see Table 2

Table 2: Collars for diamond drillholes in this release

Analytical Method and Quality Assurance/Quality Control Measures

The reported work was completed using industry standard procedures and a quality assurance/quality control (“QA/QC”) program consisting of the insertion of certified reference materials, field duplicates and coarse blanks into the sample stream and utilizing certified independent analytical laboratories for all assays. 

The Qualified Persons reviewed the available QA/QC data and identified no material issues.

Standards, core duplicates and coarse blanks represented approximately 10% of samples submitted during the 2026 drilling program. Results were monitored as analytical data became available and were within the accuracy and precision thresholds established for the program.

Banyan personnel systematically logged and photographed all diamond drill core. HTW- and NTW-diameter core was split at Banyan’s core-processing facilities. One half was returned to the core box and the other was sealed in a poly bag with one part of a three-part sample tag. Banyan personnel or a dedicated expediter delivered samples to the Bureau Veritas (“BV”) preparation laboratory in Whitehorse or to AGAT Laboratories’ Geochemical Mining Division in Calgary (“AGAT”). Samples prepared by BV were shipped to its analytical laboratory in Vancouver, British Columbia. AGAT samples were prepared, pulverized and analyzed in Calgary, Alberta, or Thunder Bay, Ontario.

BV analyzed samples using four-acid digestion and either its MA-200 ICP-ES 45-element package or MA-250 ICP-ES/MS 59-element package, together with FA-450 50 g fire assay with an AAS finish for gold. Samples returning more than 10 g/t Au were reanalyzed by FA-550 fire assay with a gravimetric finish. High-grade samples containing documented visible gold were also analyzed by FS-652 metallic-screen fire assay. Silver overlimits were analyzed using MA-370, FA-550 or FA-501, as applicable. Bureau Veritas is accredited to ISO/IEC 17025:2017 under SCC File No. 15895.

AGAT analyzed samples using four-acid digestion and its 201-071 ICP-OES/ICP-MS 48-element package, together with 201-551 50 g fire assay with an AAS finish for gold. Samples returning more than 10 g/t Au were reanalyzed by 202-551 fire assay with a gravimetric finish. High-grade samples containing documented visible gold were also analyzed by 202-131 metallic-screen fire assay. Samples returning more than 100 g/t Ag were analyzed using 201-470. AGAT is accredited to ISO/IEC 17025:2017 under SCC File Nos. 151266 and 151083.

Qualified Persons 

Duncan Mackay, M.Sc., P.Geo., is a “Qualified Person” as ‎defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects (“NI 43-101”), and has reviewed and approved the content of this news release in respect of all disclosure other than the MRE.‎ Mr. Mackay is Vice President Exploration for Banyan and has verified the data disclosed in this news release, including the sampling, ‎‎analytical and test data underlying the information.

Upcoming Events

• The MoneyShow Orlando, October 5–7, 2026
• Atlanta Roadshow, October 9–10, 2026
• 121 Mining Investment Global Online, October 14–15, 2026
• New Orleans Investment Conference, October 28–31, 2026

About Banyan 

Banyan’s primary asset, the AurMac Project, is located in the Traditional Territory of the First Nation of Na-Cho Nyäk Dun, in Canada’s Yukon Territory.  The AurMac Project comprises two main deposits, the Airstrip and Powerline Deposits. Mineralization is characteristic of a Reduced Intrusion Related Gold system, hosted in auriferous cross-cutting sheeted quartz veins and replacement-style mineralization hosted in skarn horizons. The current Mineral Resource Estimate (“MRE”) for the AurMac Project has an effective date of May 15, 2026 and comprises an Indicated Mineral Resource of 3.639 million ounces of gold (“Au“) (167.3 M tonnes at 0.68 g/t) and an Inferred Mineral Resource of 4.985 Moz of Au (267.2 M tonnes at 0.58 g/t) (See MRE Table 3 below; as defined in the 2014 CIM Definition Standards for Mineral Resources and Mineral Reserves incorporated by reference into NI 43‑101). The 303 square kilometres (“sq km”) AurMac Project lies 40 kilometres from Mayo, Yukon. The AurMac Project is transected by the main Yukon highway and benefits from a 69 kV 3-phase powerline, existing power substation and cell phone coverage.

MRE Table 3: Pit-constrained Indicated and Inferred Mineral Resources – AurMac Project

Notes to MRE Table:

1. The effective date for the MRE is May 15, 2026, the technical report is available for review on SEDAR+ at www.sedarplus.ca.
2. The Mineral Resource Estimate was prepared by Marc Jutras, P.Eng., M.A.Sc., Principal, Ginto Consulting Inc., who is an independent Qualified Person as defined by NI 43-101.
3. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, changes in global gold markets or other relevant issues.
4. The 2014 CIM Definition Standards were followed for classification of Mineral Resources. The quantity and grade of reported Inferred Mineral Resources in this estimation are uncertain in nature and there has been insufficient exploration to define these Inferred Mineral Resources as an Indicated Mineral Resource. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
5. Mineral Resources are reported at a cut-off grade of 0.30 g/t gold for all deposits, using a US$/CAN$ exchange rate of 0.73 and constrained within an open pit shell optimized with the Lerchs-Grossman algorithm to constrain the Mineral Resources with the following estimated parameters: gold price of US$3,500/ounce, US$2.75/t mining cost, US$11.50/t processing cost, US$2.00/t G+A, 90% gold recoveries, and 45° pit slopes.
6. The number of tonnes was rounded to the nearest hundred thousand and ounces rounded to the nearest thousand. Any discrepancies in the totals are due to rounding effects.

In addition to the AurMac Project, the Company holds the Hyland Gold Project, located 70 km northeast of Watson Lake, Yukon, along the southeast end of the Tintina Gold Belt (the “Hyland Project”) in the Traditional Territory of the Kaska Nations, closest to the Liard First Nation and Daylu Dena Council. The Hyland Project represents a sediment hosted, structurally controlled, intrusion-related gold deposit, within a large land package (over 125 sq km), accessible by a network of existing gravel access roads. The Hyland Project MRE comprises an Indicated Mineral Resource of 337 thousand (“K”) ‎ounces (“oz”) of gold (“Au”) and 2.63 million (“M”) oz of silver (“Ag”) (11.3 M tonnes at 0.93 g/t Au and 7.27 g/t Ag), and an Inferred Mineral Resource of 118 Koz of Au and 0.86 Moz Ag (3.9 M tonnes at 0.95 g/t Au and 6.94 g/t Ag) (as defined in the 2014 CIM Definition ‎Standards for Mineral Resources & Mineral Reserves incorporated by reference into NI 43‑101) effective September 1, 2025 and with a technical report filed on SEDAR+ on October 27, 2025.

Banyan also holds the Nitra Gold Project and Seattle-Goodman Creek Project which are grassroots exploration projects located in the Mayo Mining district, adjacent to the AurMac Gold Project. These properties lie in the northern part of the Selwyn Basin and are underlain by metaclastic rocks of the Late Proterozoic Yusezyu Formation of the Hyland Group, similar to lithologies hosting portions of the AurMac Project. Middle Cretaceous Tombstone Plutonic suite intrusions occur along the properties including the Morrison Creek and Minto Creek stocks. The properties are 100% owned by Banyan and cover over 530 sq km. The properties are accessible by road along the Silver Trail Highway, South McQuesten Road and a network of other smaller roads across the properties.

Banyan trades on the TSX Venture Exchange under the symbol “BYN” and is quoted on the OTCQB Venture Market under the symbol “BYAGF”. For more information, please visit the corporate website at www.banyangold.com or contact the Company.

ON BEHALF OF BANYAN GOLD CORP.

(signed) "Tara Christie" 

Tara Christie

President & CEO

For more information, please contact:

Tara Christie • 778 928 0556 • tchristie@banyangold.com 

Jasmine Sangria • 604 312 5610 • jsangria@banyangold.com

In Europe

Swiss Resource Capital AG

Marc Ollinger

info@resource-capital.ch

www.resource-capital.ch

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

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

FORWARD-LOOKING INFORMATION: This release contains forward-looking information, which is not comprised of historical facts and is based upon the Company’s current internal expectations, estimates, projections, assumptions and beliefs. Such information can generally be identified by the use of forward-looking wording such as “may”, “will”, “expect”, “estimate”, “anticipate”, “intend(s)”, “believe”, “potential” and “continue” or the negative thereof or similar variations. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the potential for resource expansion and increased grades; mineral recoveries and anticipated mining costs. Factors that could cause actual results to differ materially from such forward-looking information include uncertainties inherent in resource estimates, continuity and extent of mineralization, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, and the other risks involved in the mineral exploration and development industry, enhanced risks inherent to conducting business in any jurisdiction, and those risks set out in Banyan’s public documents filed on SEDAR+. Although Banyan believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Banyan disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Highlights from RC Drilling at the Boin Gold Deposit at Enchi

• Drilling intersected shallow gold mineralization above the mineral reserve grade.
  1. Hole KBRC407 intersected oxide mineralization grading 1.16 g/t Au over 41.0 m from 
      2 m, including 2.54 g/t Au over 13.0 m from 25 m.
  2. Hole KBRC389 intersected 1.66 g/t Au over 8.0 m from 6 m.
• Drilling intersected wide zones of gold mineralization outside the limits of the pits that constrains the Mineral Reserve Estimate.
  1. Hole KBRC373 intersected 0.57 g/t Au over 59.0 m from 119 m, including 0.94 g/t Au over 16.0 m from 120 m.
  2. Hole KBRC379 intersected 0.47 g/t Au over 55.0 m from 52 m, including 1.27 g/t Au over 10.0 m from 59 m.
  3. Drilling highlights the potential for resource conversion and future reserve growth.
• Drilling targeted shallow mineralization within the northern portion of the deposit.
  1. Hole KBRC380 intersected 1.57 g/t Au over 14.0 m from 102 m.
  2. Hole KBRC385 intersected 0.96 g/t Au over 13.0 m from surface.
• Drill results not included in Mineral Resource Estimate and Pre-Feasibility Study, with drilling continuing to highlight Enchi’s longer-term prospectivity.
  1. Drilling reached a maximum vertical depth of only 184 metres, with the average vertical depth of all holes drilled to date at Boin only down to 100 metres.
  2. All deposits at Enchi remain open for expansion along strike and to depth.

Greg Smith, VP Exploration of Newcore stated, "Drilling continues to prove out the potential for future reserve growth as well as the higher-grade potential of our Enchi Gold Project in Ghana. This drilling focused on shallow step out holes within the north sector at Boin, both to the north and south of the existing reserve pits. These holes were drilled in an area of known mineralization with a goal of conversion of existing Inferred mineralization to Indicated, to allow for an expansion of the future reserve pit and hence inclusion of additional mineralization in future mine plans and economic studies."

This release reports results for 24 RC holes totalling 3,370 m (KBRC373 to KBRC390, KBRC405 to KBRC410) targeting the Boin Gold Deposit, with 22 holes intersecting gold mineralization. A total of 50,470 m in 319 holes has been reported to date as part of the ongoing drill program at Enchi, with 98% of holes intersecting gold mineralization.

Select assay results from the 24 holes of the drill program reported in this release are below:

Table 1 - Enchi Gold Project Drill Highlights

Notes: 

1. See detailed table for complete results;
2. Intervals reported are hole lengths with true width estimated to be 75 - 85%; and
3. Length-weighted averages from uncut assays. 

A plan map showing the drill hole locations can be viewed at:

https://newcoregold.com/site/assets/files/6015/2026_10_06-ncau-nr-enchi-plan-map-boin.pdf 

Cross sections showing drill results and highlights for holes KBRC407, KBRC379 and KBRC373 can be viewed at:

https://newcoregold.com/site/assets/files/6015/2026_10-ncau-crosssections-boin.pdf 

A complete list of the drill results in this release, including hole details, can be viewed at:

https://newcoregold.com/site/assets/files/6015/2026_10_06-ncau-enchi-2024-2026-drill-results.pdf 

RC Drilling at the Boin Gold Deposit

KBRC373 to KBRC390 and KBRC405 to KBRC410 (24 RC holes totalling 3,370 m) were completed at Boin, targeting shallow mineralization within the northern portion of the deposit. The goal of this drilling was reserve growth for future mine plan optimization, including targeting higher-grade portions of the deposit. Drilling was also designed to improve geological confidence and confirm grade continuity, to support future reserve and resource updates. Drilling targeted oxidized and shallow fresh mineralization and reached a maximum vertical depth of 184 metres. The holes reported in this news release were distributed across 10 sections spread across a 1.1 km strike length of the Boin structure. 

16 RC holes totalling 2,318 m (KBRC373 to KBRC383, KBRC390, KBRC405 to KBRC408) were drilled between the central and north sector reserve pits, step out drilling to the south of the northern portion of Boin. Hole KBRC407 intersected a shallow, wide, high-grade gold zone with 1.16 g/t Au over 41.0 m from 2 m, including 2.54 g/t Au over 13.0 m from 25 m within oxide mineralization. Hole KBRC373, collared 100 metres to the north of KBRC407, intersected 0.57 g/t Au over 59.0 m from 119 m, including 0.94 g/t Au over 16.0 m from 120 m. Hole KBRC379, located a further 70 metres north, intersected a wide zone of gold mineralization with 0.47 g/t Au over 55.0 m from 52 m, including 1.27 g/t Au over 10.0 m from 59 m. Hole KBRC380, drilled on the same section as KBRC379, intersected 1.57 g/t Au over 14.0 m from 102 m. Each of these three sections include 3 to 4 subparallel gold mineralized structures, confirming the continuity of the gold zone in this portion of the Boin structure. This drilling targeted conversion of existing Inferred mineralization to Indicated to allow for an expansion of the future reserve pit and hence inclusion of additional mineralization in future mine plans and economic studies.

Two RC holes totalling 262 m (KBRC409 and KBRC410) were drilled within the existing reserve pit, confirming gold mineralization in a portion of the structure where prior drilling was completed on slightly wider spacing. KBRC409 intersected a series of gold mineralized zones highlighted by 0.56 g/t Au over 22.0 m from 78 m. 

Six RC holes totalling 790 m (KBRC384 to KBRC389) were drilled on the northern edge of the existing reserve pit. Hole KBRC389 intersected near-surface oxidized mineralization including 1.66 g/t Au over 8.0 m from 6 m, and hole KBRC385 intersected 0.96 g/t Au over 13.0 m from surface. This step out drilling to the north targeted conversion of existing Inferred mineralization to Indicated, to allow for an expansion of the future reserve pit 

These holes were drilled in an area of known mineralization with a goal of continuing to define and grow the future reserve potential at Enchi, including a focus on higher-grade targets. Drilling continues to highlight the potential for future mine plan optimization.

RC drilling completed at Boin continues to intersect mineralization above the reserve and resource grade and continues to confirm continuity along strike and down dip, defining and extending the principal structures which comprise the Boin Gold Deposit. 

Enchi Work Program

An 80,000 metre drill program is underway at Enchi. The drill program is focused on resource conversion, resource growth and discovery. RC drilling is targeting near-surface mineralization (oxide, transition, and shallow fresh mineralization) focused on resource conversion and continuing to define the potential for reserve and resource growth along strike at existing deposits. Diamond drilling is targeting the high-grade potential at depth. The completed first phase of the drill program was infill drilling for resource conversion, with only the first 28,000 metres of the drill program incorporated into an updated Mineral Resource Estimate announced on March 18, 2026 that formed the basis for a Pre-Feasibility Study ("PFS"). All deposit areas and pre-resource targets at Enchi remain open along strike and at depth, providing for future resource growth across the district-scale property.

Development work continues at Enchi, in support of project advancement, including metallurgical testwork, hydrogeological testing, geotechnical work, and environmental work. A Pre-Feasibility Study was completed in June 2026 (see news release dated June 24, 2026), outlining a base case assessment of developing an open pit, standard milling and carbon-in-leach operation using contract mining and processing 5.5 Mtpa. Recent drilling completed at Enchi has highlighted potential for resource growth, with high-grade encountered at depth and mineralization delineated below the pits that constrain the current Mineral Reserve and Mineral Resource Estimates. Drill results reported in 2026 have not been included in the Mineral Resource Estimate and PFS.

Boin Gold Deposit

Boin is one of the four deposits which comprise the Mineral Reserve Estimate and Mineral Resource Estimate at Enchi (Boin has a Probable Mineral Reserve of 15.9 million tonnes grading 0.84 g/t Au containing 429,000 ounces; an Indicated Mineral Resource of 23.5 million tonnes grading 0.73 g/t Au containing 550,000 ounces; and an Inferred Mineral Resource of 
 9.2 million tonnes grading 0.60 g/t Au containing 178,000 ounces). Boin is located 
 10 kilometres south of the town of Enchi, with nearby roads and power and further access provided by a series of drill roads. Boin is outlined on surface by a greater than six-kilometre-long by up to one-kilometre-wide gold in soil anomaly. An airborne geophysical anomaly coincident with the Boin structure extends for a further kilometre north and three kilometres south beyond the limits of current drilling. To date, approximately 40% of the gold-in-soil anomaly at Boin is untested by drilling, with the average vertical depth of all holes drilled to date at Boin only down to 100 metres.

Drill Hole Locations

Table 2 - Enchi Gold Project Drill Hole Location Details

Enchi Gold Project Mineral Reserve and Resource Estimates 

The Enchi Gold Project hosts a Probable Mineral Reserve of 51.3 million tonnes grading 
 0.64 g/t Au containing 1,055,000 ounces gold; an Indicated Mineral Resource of 83.6 million tonnes grading 0.56 g/t Au containing 1,502,000 ounces gold; and an Inferred Mineral Resource of 40.1 million tonnes grading 0.49 g/t Au containing 626,000 ounces. The Indicated Mineral Resources are inclusive of the Mineral Reserves. Mineral resource and mineral reserve estimation practices are in accordance with CIM Estimation of Mineral Resource and Mineral Reserve Best Practice Guidelines (November 29, 2019) and follow CIM Definition Standards for Mineral Resources and Mineral Reserves (May 10, 2014), that are incorporated by reference into National Instrument 43-101 ("NI 43-101"). The Mineral Reserve and Mineral Resource Estimate is from the technical report titled "Enchi Gold Project, Pre-Feasibility Study, NI 43-101 Technical Report" dated August 7, 2026, with an effective date of June 23, 2026, in accordance with NI 43-101, and is available under the Company’s profile on SEDAR+ at www.sedarplus.ca. The Mineral Reserve Estimate was prepared for Newcore by Grant Carlson, P. Eng. of Fuse Advisors (part of SLR); the Mineral Resource Estimate was prepared for Newcore by Ryan Wilson, P. Geo, Matthew Halliday, P. Geo, Schadrac Ibrango, P. Geo of DRA Americas Inc. These individuals are independent qualified persons ("QP") within the meaning of NI 43-101. 

Newcore Gold Best Practice 

Newcore is committed to best practice standards for all exploration, sampling and drilling activities. Drilling was completed by independent drilling firms using industry standard RC and Diamond Drill equipment. Analytical quality assurance and quality control procedures include the systematic insertion of blanks, standards and duplicates into the sample strings. Samples are placed in sealed bags and shipped directly to Intertek Labs located in Tarkwa, Ghana for 50 gram gold fire assay.

Qualified Person 

Mr. Gregory Smith, P. Geo, Vice President of Exploration at Newcore, is a Qualified Person within the meaning of NI 43-101. Mr. Smith has reviewed and approved the scientific and technical information contained in this news release and has conducted appropriate verification on the underlying data including confirmation of the drillhole data files against the original drillhole logs and assay certificates.

About Newcore Gold Ltd.

Newcore Gold is advancing its Enchi Gold Project located in Ghana, Africa’s largest gold producer ⁽¹⁾. Newcore Gold offers investors a unique combination of top-tier leadership, who are aligned with shareholders through their 12% equity ownership, and prime district scale exploration opportunities. Enchi’s 248 km² land package covers 40 kilometres of Ghana’s prolific Bibiani Shear Zone, a gold belt which hosts several multi-million-ounce gold deposits, including the Chirano mine 50 kilometres to the north. Newcore’s vision is to build a responsive, creative and powerful gold enterprise that maximizes returns for shareholders.

(1) Source: Production volumes for 2025 as sourced from the World Gold Council.

On Behalf of the Board of Directors of Newcore Gold Ltd.

Luke Alexander

President, CEO & Director

For further information, please contact: 

Mal Karwowska | Senior Vice President, Corporate Development and Investor Relations

+1 604 484 4399

info@newcoregold.com 

www.newcoregold.com  

In Europe

Swiss Resource Capital AG

Marc Ollinger

info@resource-capital.ch

www.resource-capital.ch

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.

Cautionary Note Regarding Forward-Looking Statements

This news release includes statements that contain "forward-looking information" within the meaning of the applicable Canadian securities legislation ("forward-looking statements"). All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussion with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always using phrases such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: statements regarding the estimation and potential realization of mineral resources and mineral reserves; proposed development plans for the Company; results of metallurgical testwork; results of the Company’s ongoing drill campaign; the magnitude or quality of mineral deposits; anticipated advancement of mineral properties or programs; future operations; the completion and timing of future development studies; future exploration prospects and growth of mineral properties; the potential to incorporate additional mineralization into future mineral resource and mineral reserve estimates or future studies; the results of recent drilling not yet incorporated into the Mineral Resource Estimate or the PFS; the potential expansion or enhancement of mineralization; and the impact of future exploration and drilling on the Project.

These forward-looking statements are based on assumptions management believes to be reasonable at the time such statements are made, including, without limitation, assumptions regarding: the accuracy of the underlying technical and economic assumptions; commodity prices; exchange rates; availability of financing; permitting and development timelines; the ability of ongoing and future exploration programs to further define, expand or upgrade mineralization; the potential for additional mineralization identified through drilling to be incorporated into future mineral resource and mineral reserve estimates or mine plans; the ability of ongoing and future exploration programs to further define, expand or upgrade mineralization; the potential for additional mineralization identified through drilling to be incorporated into future mineral resource and mineral reserve estimates or mine plans; and the Company’s ability to execute its plans as currently contemplated. Although the Company believes these assumptions to be reasonable based on information currently available, they may prove to be incorrect. 

Forward-looking statements also involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others: risks related to the speculative nature of Newcore’s business; Newcore’s stage of development; Newcore’s financial position; possible variations in mineralization, grade or recovery rates; actual results of current exploration activities; fluctuations in general macroeconomic conditions and securities markets; fluctuations in the price of gold and other commodities; fluctuations in currency exchange rates; change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with mineral exploration, development and mining (including environmental hazards and unusual or unexpected geological formations); the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); uncertainties related to exploration results and the ability to convert mineralization into mineral resources or mineral reserves; the risk that additional mineralization identified through drilling may not be incorporated into future studies or may not have a material impact on the Project; and title to properties. Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect the forward-looking statements. 

Forward-looking statements contained herein are made as of the date of this news release and Newcore disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Toronto, Ontario, October 5, 2026 – Osisko Gold Group Inc. (NYSE: OGG, TSXV: OGG) ("Osisko Gold" or the "Company") - https://www.commodity-tv.com/ondemand/companies/profil/osisko-gold-group-inc/ - is pleased to announce new results from its ongoing definition infill drilling program on 10-15 metre ("m") target spacing totaling 3,933 m in 36 holes drilled from the 1290 m level in the Lowhee Zone of the Company's flagship, permitted, 100%-owned Cariboo Gold Project (the "Project"), currently under construction in central British Columbia, Canada.

Chris Lodder, President, stated, "Ongoing underground infill drilling continues to strengthen our confidence in the Lowhee Zone of the Cariboo Gold deposit. Intercepts outside the modelled reserve stopes also suggest potential for resource conversion and upside mineralization, reinforcing the Cariboo Gold Project's potential as underground development advances into new zones."

Corporate Updates

• In connection with the ongoing construction of the Cariboo Gold Project, the Company, through its wholly-owned subsidiary, Barkerville Gold Mines Ltd., has awarded the continuing underground mine development and related works contract to current contractor JDS Energy & Mining Inc. ("JDS") effective October 5, 2026.
• The Company also announces that it has granted an aggregate of (i) 72,700 stock options of the Company (the "Options"), and (ii) 553,700 restricted share units of the Company ("RSUs") to certain newly hired senior officers and non-executive employees (collectively, the "Incentive Awards"), pursuant to the Company's omnibus equity incentive plan ("Omnibus Plan"). The Incentive Awards are designed to align the interests of the recipients with those of shareholders and support the execution of the Company's long-term growth strategy. The Options are exercisable at a price of C$4.00 per common share of the Company (based on the October 2, 2026, closing price on the TSX Venture Exchange) and will expire on October 5, 2031. The Options will vest in three equal installments over the next three years. The RSUs will cliff vest on October 5, 2029, and are subject to time and performance conditions.

DRILL ASSAY HIGHLIGHTS

This news release contains assays from thirty-six (36) diamond drillholes ("DD") completed in four fans totaling 3,933 m drilled to the northwest from the L1290-ORE-000 drill station with depths ranging from 81.20 to 150.50 m (see Table 1 and Figures 5-9). All holes were collared in HQ (63.5 millimetre diameter). Estimated true widths of intercepts are provided in Table 1. Select photon assay highlights include:

• 28 grams per tonne ("g/t") gold ("Au") over 16.15 m at ~105 m vertical depth in BMU-26-121, including:
  • 66 g/t Au over 0.60 m, and
  • 80 g/t Au over 0.50 m, and
  • 39 g/t Au over 0.50 m, and
  • 58 g/t Au over 0.50 m
• 13 g/t Au over 11.60 m at ~61 m vertical depth in BMU-26-075 (Figure 1), including:
  • 06 g/t Au over 0.50 m, and
  • 88 g/t Au over 0.80 m, and
  • 85 g/t Au over 0.50 m, and
  • 13 g/t Au over 0.85 m, and
  • 47 g/t Au over 0.90 m, and
  • 23 g/t Au over 0.85 m
• 40 g/t Au over 8.50 m at ~72 m vertical depth in BMU-26-076, including:
  • 39 g/t Au over 0.65 m, and
  • 31 g/t Au over 0.55 m, and
  • 77 g/t Au over 0.55 m, and
  • 06 g/t Au over 0.50 m
• 30 g/t Au over 2.10 m at ~62 m vertical depth in BMU-26-096 (Figure 2), including:
  • 38 g/t Au over 0.55 m
• 26 g/t Au over 5.75 m at ~56 m vertical depth in BMU-26-076, including:
  • 62 g/t Au over 0.80 m, and
  • 84 g/t Au over 0.50 m, and
  • 28 g/t Au over 0.50 m, and
  • 82 g/t Au over 0.50 m
• 04 g/t Au over 14.35 m at ~78 m vertical depth in BMU-26-098, including:
  • 57 g/t Au over 1.00 m, and
  • 35 g/t Au over 1.00 m, and
  • 06 g/t Au over 0.50 m
• 98 g/t Au over 5.70 m at ~91 m vertical depth in BMU-26-118, including:
  • 45 g/t Au over 0.60 m, and
  • 75 g/t Au over 0.75 m, and
  • 38 g/t Au over 0.50 m, and
  • 16 g/t Au over 0.50 m
• 17 g/t Au over 3.05 m at ~65 m vertical depth in BMU-26-119, including:
  • 82 g/t Au over 0.50 m, and
  • 38 g/t Au over 0.50 m
• 71 g/t Au over 9.95 m at ~63 m vertical depth in BMU-26-097, including:
  • 51 g/t Au over 0.95 m, and
  • 95 g/t Au over 0.50 m, and
  • 87 g/t Au over 0.50 m
• 10 g/t Au over 6.50 m at ~40 m vertical depth in BMU-26-047, including:
  • 25 g/t Au over 0.50 m, and
  • 98 g/t Au over 0.50 m, and
  • 18 g/t Au over 0.50 m, and
  • 33 g/t Au over 0.50 m, and
  • 51 g/t Au over 0.50 m

Complete assay highlights, including true width estimates, are presented in Table 1. Vertical depths are measured from modelled topographic surface to the interval mid-point. Drill hole locations and orientations are listed in Table 2. Intervals not recovered were assigned zero grade. Top cuts have not been applied to high grade assays.

Cut-off assay composites from ongoing infill drilling at the 1290 Level, presented in plan in Figure 5 and in cross section in Figures 6-9, show a degree of spatial correlation with modelled reserve stopes; intercepts outside these areas suggest potential for resource conversion and upside mineralization.

FIGURE 1: 7.13 g/t Au over 11.60 m at ~61 m vertical depth in BMU-26-075

FIGURE 2: Visible gold with pyrite under hand lens in composite interval with 29.30 g/t Au over 2.1 m at ~62 m vertical depth in BMU-26-096

FIGURE 3: Cariboo Gold Project deposit map with Location of Lowhee Zone and Cow Portal underground access.

FIGURE 4: Location and overview of ongoing Lowhee Zone underground definition infill diamond drilling.

FIGURE 5: Lowhee Zone select underground drilling highlights (plan view).

FIGURE 6: L1290-ORE-F09 select underground drill assay highlights (this release) with previously released surface and underground diamond drilling results in cross section by fan. New results from adjacent fans within slice (20 m looking 029°) omitted for visual clarity.

FIGURE 7: L1290-ORE-F10 select underground drill assay highlights (this release) with previously released surface and underground diamond drilling results in cross section by fan. New results from adjacent fans within slice (20 m looking 039°) omitted for visual clarity.

FIGURE 8: L1290-ORE-F11 select underground drill assay highlights (this release) with previously released surface and underground diamond drilling results in cross section by fan. New results from adjacent fans within slice (20 m looking 046°) omitted for visual clarity.

FIGURE 9: L1290-ORE-F12 select underground drill assay highlights (this release) with previously released surface and underground diamond drilling results in cross section by fan. New results from adjacent fans within slice (20 m looking 050°) omitted for visual clarity.

ABOUT LOWHEE ZONE

Geological mapping and geochemical sampling were carried out on Barkerville Mountain from 2017-2018, with the Lowhee Zone identified as a high-priority drill target. From 2019 to 2022, a total of 167 surface drill holes were completed, totaling 54,494.5 m.

The Lowhee Zone is accessed through the Cow portal on the northwestern flank of Barkerville Mountain (Figure 3 and Figure 4). Cow portal construction was completed in Q4 2024 and development of the underground ramp into the Lowhee Zone commenced in Q1 2025. The probable mineral reserves estimate for the Lowhee Zone (with an effective date of April 10, 2025) includes 104,491 ounces of contained Au (923,162 tonnes grading 3.52 g/t Au) and represents approximately 5% of the total contained gold in the estimated probable mineral reserves for the Cariboo Gold Project.

ABOUT CARIBOO GOLD PROJECT

The Cariboo Gold Project is a permitted, 100%-owned feasibility-stage project currently under construction located in the historic Wells-Barkerville mining camp of central British Columbia, Canada. Spanning approximately 186,740 hectares, the Company's land package includes 443 mineral titles and covers an area that extends approximately 77 kilometres from northwest to southeast. In late 2024, the Project was granted the Mines Act and Environmental Management Act (British Columbia) permits, marking the successful completion of the permitting process for key approvals. On September 14, 2026, the Company announced a formal positive decision to proceed with the construction of the Project, with an expected first gold pour in Q1 2029 and commercial production in H2 2029.

Technical Reports

Scientific and technical information relating to the Cariboo Gold Project and the 2025 feasibility study on the Cariboo Gold Project is supported by the technical report, titled "NI 43-101 Technical Report, Feasibility Study for the Cariboo Gold Project, District of Wells, British Columbia, Canada" and dated June 11, 2025 (with an effective date of April 25, 2025) (the "Cariboo Technical Report").

For readers to fully understand the information in the Cariboo Technical Report, reference should be made to the full text of the Cariboo Technical Report in its entirety, including all assumptions, parameters, qualifications, limitations and methods therein. The Cariboo Technical Report is intended to be read as a whole, and sections should not be read or relied upon out of context. The Cariboo Technical Report was prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") and is available electronically on SEDAR+ (www.sedarplus.ca) and on EDGAR (www.sec.gov) under Osisko Gold's issuer profile and on the Company's website at www.osiskogold.ca.

Qualified Persons

The scientific and technical information in this news release has been reviewed, verified and approved by Scott Smith, P. Geo., Vice President, Exploration of Osisko Gold, a "qualified person" within the meaning of NI 43-101. Verification includes core photo and three-dimensional review of logged drillhole data and assays consistent with the Company's standard procedures.

Quality Assurance (QA) – Quality Control (QC)

All drill core was whole core sampled in on-site logging facilities following daily QAQC checks for logging and sampling errors. Quality control (QC) samples are inserted at regular intervals in the sample stream, including blanks and reference materials with all sample shipments to monitor laboratory performance. Samples are bagged, labelled, sealed with numbered security tags.

Samples are taken by expeditor from the logging facilities direct to MSALABS's analytical facility in Prince George, B.C., Canada, for preparation and analysis. MSALABS is independent of the Company. The MSALABS facility is accredited to the ISO/IEC 17025 standard for gold assays, and all analytical methods include quality control materials at set frequencies with established data acceptance criteria. The entire sample is dried, crushed, and split into sealed containers. Analysis for gold is by gamma ray analysis using the Chrysos PhotonAssay (PA1408X). Samples are bombarded with gamma rays and the resulting signal is sent to the detectors.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward-looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, as amended) (collectively, "forward-looking statements"). Such forward-looking statements are identified with words such as "may", "will", "would", "could", "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee", "objective", "strategy", variants of these words or the negative or comparable terminology, as well as terms usually used in the future and the conditional. Information contained in forward-looking statements is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including the assumptions, qualifications, limitations or statements pertaining to: the utility and significance of the underground infill drilling results and the interpretation thereof; the interpretation and accuracy of intercepts outside modelled reserve stopes to suggest potential for resource conversion and upside mineralization (if at all); the potential for upside at depth and along strike of the known mineral resource footprint (if any); the interpretation and accuracy of spatial geometries, geological structure and local variability modeling and assumptions in regard to potential reserve or resource revisions (if at all); the ability and utility of exploration and infill drilling to inform resource modeling, mine planning, production stope design procedures and parameters, refinement of infill drill requirements, and the appropriate drill spacing for future infill drilling (if at all); the results (if any) of further exploration work and ability of the Company to define and expand mineral resources beyond current mineral resource estimates; mineral resource category conversion; the prospectivity of exploration in targets outside of currently defined mineral reserves and/or mineral resources; the performance of the underground mine development and related works contract with JDS and the advancement of underground development into new zones; the anticipated construction of the Cariboo Gold Project, including the expected timing of first gold pour and commercial production; the vesting, exercise and settlement of the Incentive Awards, including the satisfaction of applicable time and performance conditions; assumptions, qualifications and parameters underlying the Cariboo Technical Report (including, but not limited to, the mineral resources, mineral reserves, production profile, mine design and project economics); the results of the Cariboo Technical Report as an indicator of quality and robustness of the Cariboo Gold Project; the ability of the Company to achieve the estimates outlined in the Cariboo Technical Report in the timing contemplated (if at all); the future development and operations at the Cariboo Gold Project; management's perceptions of historical trends, current conditions and expected future developments; the utility and significance of historic data, including the significance of the district hosting past producing mines; the ability of exploration work (including drilling and sampling) to accurately predict mineralization; the ability of the Company to complete its exploration and development objectives for its projects in the timing contemplated and within expected costs (if at all); the ability to adapt to changes in gold prices, estimates of costs, estimates of planned exploration and development expenditures; the Company's strategy and objectives relating to the Cariboo Gold Project as well as its other projects; the assumptions, qualifications and limitations relating to the Cariboo Gold Project being permitted; the exploration potential and prospectivity (if any) of its properties; 'regulatory framework remaining defined and understood as well as other considerations that are believed to be appropriate in the circumstances, and any other information herein that is not a historical fact may be "forward looking information". Actual results could differ materially due to a number of factors, including, without limitation: 'risks relating to third-party approvals, including the issuance of permits by governments; risks relating to the performance of contractors, including JDS; capital market conditions and the Company's ability to access capital on terms acceptable to the Company for the contemplated exploration, development and construction at the Company's properties; risks related to the exploration, development, construction and operation of the Cariboo Gold Project, including delays and cost overruns; risks related to geological modeling and resource estimation; health, safety and security incidents; regulatory delays or changes in regulatory framework and applicable laws; labour shortages or disputes; general economic and market conditions and business conditions in the mining industry; fluctuations in commodity prices and currency exchange rates, as well as those risks and factors disclosed in the Company's most recent annual information form, financial statements and management's discussion and analysis as well as other public filings on SEDAR+ (www.sedarplus.ca) and on EDGAR (www.sec.gov).

Although the Company believes the expectations conveyed by the forward-looking statements are reasonable based on information available as of the date hereof, no assurances can be given as to future results, levels of activity and achievements. The Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. Forward-looking statements are not guarantees of performance and there can be no assurance that these forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Toronto, ON – 5 October 2026 – Mayfair Gold Corp. (“Mayfair” or the “Company”) (TSXV: MFG, NYSE American: MINE) - https://www.commodity-tv.com/ondemand/companies/profil/mayfair-gold-corp/ - is pleased to announce the appointment of Daniel Janusauskas, P.Eng., as Vice President, Technical Services, effective November 1, 2026. Mr. Janusauskas will lead the Company’s technical services function as it advances and de-risks the 100%-owned Fenn-Gib Gold Project (“Fenn-Gib” or the “Project”) toward a construction decision.

Drew Anwyll, P.Eng., Chief Executive Officer of Mayfair Gold, stated: “I have worked closely with Daniel previously and know him to be an exceptional engineer with broad experience spanning mining operations, technical studies, and project development. His technical judgement, practical approach, and strength of character make him ideally suited to help lead Fenn-Gib through its next stage of development and toward becoming an operating gold mine. We are very happy to welcome him to Mayfair.”

Daniel Janusauskas, P.Eng., is a mining engineer with more than 15 years of experience in technical services, mine planning, project development, and operations. Most recently, he served as Technical Services Manager at Generation Mining, where he helped advance the Marathon Copper-Palladium Project through feasibility updates, lender due diligence and independent engineer reviews, project financing, and the transition into construction.

Previously, Mr. Janusauskas held technical and leadership roles with Baffinland Iron Mines, Detour Gold, and BBA, with experience in operational ramp-up and optimization, life-of-mine planning, NI 43-101 studies, and project evaluation. He holds a Bachelor of Mining Engineering from McGill University and is a recipient of the CIM-Bedford Canadian Young Mining Leaders Award.

Mr. Janusauskas, P.Eng., incoming Vice President, Technical Services, added: “I am excited to join Mayfair Gold at an important stage in Fenn-Gib’s development. Mayfair has assembled an experienced and agile team, and I look forward to bringing my project development and operational experience to help advance Fenn-Gib toward production and build Mayfair into an operating and growing gold company.”

About Mayfair Gold

Mayfair Gold is a Canadian development-stage gold company focused on advancing the 100%-owned Fenn-Gib Project in the Timmins region of Northern Ontario. Fenn-Gib hosts a 4.3-million-ounce indicated mineral resource of gold (181.3Mt at an average grade of 0.74 g/t) and the expected strategy outlined in the 2026 Pre-Feasibility Study (the “PFS”)[1] is to develop the Project under the provincial permitting process, targeting the higher-grade 1-million-ounce probable mineral reserve (25.1Mt at an average grade of 1.29g/t) sitting near-surface, highlighting the optionality and scalability provided by the deposit. The PFS also outlines the potential to develop Fenn-Gib into a new Canadian gold producer, with initial development capital of C$450 million, a base-case payback period of 2.7 years, and cumulative free cash flow[2] of US$896 million over the first six years of production based on a US$3,100/oz gold price. The Company is advancing permitting activities, detailed engineering, and stakeholder engagement with the goal of starting construction in 2028 with initial production in 2030. The Company also remains focused on exploration around the broader land package with the goal of enhancing mineral resource scale and growth opportunities.

Cautionary Note Regarding Forward-Looking Information

This news release contains certain forward-looking information within the meaning of applicable Canadian securities legislation and forward-looking statements within the meaning of applicable United States securities legislation (collectively, “forward-looking information”). The use of the words “will” and “expected” and similar expressions is intended to identify forward-looking information. Forward-looking information in this news release includes, but is not limited to, the expected strategy to develop the project under the provincial permitting process, targeting the higher-grade 1-million-ounce mineral reserve, building and operating the Fenn-Gib Project, any anticipated permitting timelines, and all disclosure related to the PFS, including expected commencement of construction and production. Although Mayfair Gold believes that the expectations reflected in such forward-looking information is reasonable, readers are cautioned that actual results may vary from the forward-looking information. The Company has based the forward-looking information on the Company’s current expectations and assumptions about future events. This information also involves known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information, including the risks, uncertainties, and other factors identified in the annual information form and Form 40-F of the Company for the year ended December 31, 2025, available under the Company's profiles on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov, respectively. Furthermore, the forward-looking information contained in this news release is as at the date of this news release, and Mayfair does not undertake any obligation to publicly update or revise any of this forward-looking information except as may be required by applicable securities laws. 

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

For further information, please visit www.mayfairgold.ca or direct enquiries to:

Drew Anwyll, P.Eng.
CEO, Mayfair Gold Corp.
2770 Plymouth Dr – Suite 101

Oakville, ON L6H 6Y4 Canada
+1 (855) 350-5600
info@mayfairgold.ca

In Europe

Swiss Resource Capital AG

Marc Ollinger

info@resource-capital.ch

www.resource-capital.ch

[1] Please refer to the technical report entitled “Fenn-Gib Gold Project NI 43-101 Technical Report and pre-Feasibility Study” dated effective December 19, 2025 available on SEDAR+ at www.sedarplus.ca for further details.

[2] Free cash flow does not have a standardized meaning and may not be comparable to similar

measures presented by other issuers, referred to as non-GAAP financial measures. As the Corporation is not in production, the Corporation does not have historical non-GAAP financial measures nor historical comparable measures under IFRS, and therefore the foregoing prospective non-GAAP financial measures may not be reconciled to the nearest comparable measures under IFRS.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward-looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, as amended) (collectively, "forward-looking statements"). Such forward-looking statements relate to, among other things: the Company’s objective of becoming an intermediate gold producer; and the exploration potential and prospectivity of its properties. Forward-looking statements are identified with words such as "may", "will", "would", "could", "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee", "objective", "strategy", variants of these words or the negative or comparable terminology, as well as terms usually used in the future and the conditional. Information contained in forward-looking statements is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including: the ability to advance the Cariboo Gold Project through construction on the anticipated timeline and within the estimated budget and its status as being fully permitted; the Company’s objective of becoming an intermediate gold producer; and the exploration potential and potential for future discoveries (if any) of its properties. Such forward-looking statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. These assumptions include, but are not limited to: the absence of any work stoppages or suspensions at the Company's projects; favourable regulatory conditions and approvals; the ability to maintain adequate personnel and contractor levels; the absence of unforeseen ground conditions or other geological challenges; the availability of necessary equipment, supplies and infrastructure; and general economic and market conditions. Actual results could differ materially due to a number of factors, including, without limitation: adverse changes in the Company’s business, financial position, operating environment or access to capital; risks related to the exploration, development and operation of the Cariboo Gold Project; changes in estimated project costs, development timeline, or construction schedule; health, safety and security incidents; regulatory delays or changes in regulatory framework and applicable laws; labour shortages or disputes; general economic and market conditions and business conditions in the mining industry; fluctuations in commodity and currency exchange rates; as well as those risks and factors disclosed in the Company's most recent annual information form, financial statements and management's discussion and analysis as well as other public filings on SEDAR+ (www.sedarplus.ca) and on EDGAR (www.sec.gov). Although the Company believes the expectations conveyed by the forward-looking statements are reasonable based on information available as of the date hereof, no assurances can be given as to future results, levels of activity and achievements. The Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. Forward-looking statements are not guarantees of performance and there can be no assurance that these forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

An aggregate of 81,000 stock options was granted to directors on September 30, 2026, having an exercise price of $0.22. All such stock options will be exercisable for a period of three years from the date of grant and have vested immediately upon grant. In the event a director intends to exercise such stock options, such director shall be solely responsible for paying the entirety of the exercise price.

About Aurania

Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition, and exploration of mineral property interests, with a focus on precious metals and critical energy in Europe and abroad.

Information on Aurania and technical reports are available at www.aurania.com and www.sedarplus.ca, as well as on Facebook at https://www.facebook.com/auranialtd/, X (formerly Twitter) at  https://x.com/AuraniaLtd, and LinkedIn at https://www.linkedin.com/company/aurania-resources-ltd-.

For further information, please contact:

In Europe

Swiss Resource Capital AG

Marc Ollinger

info@resource-capital.ch

www.resource-capital.ch

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. 

Highlights: 

• 72% Growth in the 2026 Selebi Main MRE. The 2026 Selebi Main MRE increased to 32.47 million tonnes, grading 1.53% copper and 0.97% nickelcompared with 18.89 million tonnes grading 1.69% copper and 0.88% nickel in the 2024 MRE, with substantial increases in contained copper and nickel, including:
  1. 55% increase in contained copper to 495,400 tonnes, from 319,200 tonnes in 2024.
  2. 91% Increase in contained nickel to 316,800 tonnes, from 165,500 tonnes in 2024.
  3. Cobalt is now included in the 2026 Selebi Main MRE, adding a third reported metal to the mineral resource estimate.
• Resource tonnage growth: 91% of the increase is attributable to new drilling in the Flexure Zone.
• Updated technical inputs. The 2026 Selebi Main MRE reflects updated metal price assumptions of US$5.10/lb Copper and US$9.10/lb nickel and incorporates previously reported metallurgical results demonstrating the ability to produce separate, clean copper and nickel concentrates that meet commercial smelter specifications.
• Further growth potential. Recent step-out drilling completed after the mineral resource cut-off date intersected thick, high-grade massive sulphide mineralization. Those results are not included in the 2026 Selebi Main MRE.

Next Steps: 

• Selebi North Mineral Resource Estimate is Nearing Completion. The Selebi North Mineral Resource Estimate is being finalized and will be reported once complete. Together with the 2026 Selebi Main MRE announced today, it will provide a more comprehensive view of the mineral resource and overall scale of the Selebi Mines.

Sean Whiteford, CEO of the Company, commented: “The updated Selebi Main estimate is a major milestone for NexMetals. Resource growth, driven primarily by new drilling in the Flexure Zone, exceeded our expectations and provides a stronger foundation for the next phase of technical work. Given the scale of the increase, we are reporting the Selebi Main Mineral Resource Estimate while MSA completes its work on Selebi North, which is not included in today’s figures. Consistent with Selebi Main, our drilling at Selebi North has been highly successful, delivering significant intercepts down plunge and beyond Selebi North’s 2024 mineral resource envelope. These results support our expectation of growth in the Selebi North resource, and we are optimistic that its forthcoming estimate will further demonstrate the size and scale of the Selebi Mines.

“Selebi Main also remains open beyond the limits of this estimate. Step-out drilling completed after the resource cut-off date has intersected thick, high-grade massive sulphide mineralization. Our data driven approach of using BHEM to guide our drilling has been tremendously successful and supports further growth potential both in down-dip and down-plunge directions. We continue to maintain a strong treasury position, with an approximate cash balance of $10.5 million at September 30th, supporting our ability to advance the next phase of work. Once the Selebi North Mineral Resource Estimate is complete, we will provide guidance on next steps.”

2026 Selebi Main Mineral Resource Estimate as of September 28, 2026

Notes:  

1. All tabulated data have been rounded and as a result minor computational errors may occur.
2. Mineral Resources, which are not Mineral Reserves, have no demonstrated economic viability. There is no guarantee that all or any part of the Mineral Resource will be converted into a Mineral Reserve. The estimate of Mineral Resources may be materially affected by geology, environment, permitting, legal title, taxation, socio-political, marketing, or other relevant issues.
3. kt = thousand tonnes, Mt = Million tonnes, Mlbs = million pounds
4. The 2026 MRE has been prepared in accordance with the CIM Definition Standards (2014) and CIM Best Practice Guidelines (2019) with a data cut-off of September 21, 2026, and an effective date of September 28, 2026.
5. Mineral Resources are reported at a cut-off value of US$75/t NSR (Net Smelter Return) defined as received value of final metal recovered minus off-site costs, and a minimum thickness of 1.5 metres.
6. Mineral Resources are estimated using long-term prices of US$9.10/lb Ni, US$5.10/lb Cu, US$20.00/lb Co. The same metal prices were used in NSR calculations.
7. Mineral Resources are estimated using nickel, copper and cobalt recoveries of 55.6%, 96.1%, and 60.2%, respectively, derived from metallurgical studies which consider a two-concentrate scenario.
8. Payabilities and off-site treatment and refining costs were derived from an independent marketing study commissioned by NexMetals.
9. Bulk density has been estimated in the block model based on an extensive data set of measurements taken from drillhole cores. The average density is 3.51 t/m³ for the Upper vein and 3.38 t/m³ for the Lower vein.
10. Mineral Resources are reported using NSR values which assume mining costs of US$47.60/tonne, concentrate processing costs of US$20.00/tonne and G&A of US$5.50/tonne.
11. Areas depleted or sterilized by mining were removed from the mineral resource as well as an interpreted dyke.
12. There are no Mineral Reserves.
13. Copper equivalent is calculated using the formula CuEq =(Cu%*96.4+Ni%*87.0+Co%*132.7)/96.4.

The table reports Selebi Main only. The updated Selebi North mineral resource estimate is pending and is not included. Totals may not add up due to rounding.

Figure 1: Long section of Selebi Mines highlighting the 2026 Selebi Main MRE. 

Mineral Resource Data and Quality Control

The historical sampling data collected by the previous owner and operator, BCL Limited (“BCL”) included Ni and Cu assays and selective Co assays. The historical data was verified by NEXM through drilling of new holes between historical holes, which intersected mineralization in the expected position, and a twin intercept from a wedge from one BCL surface hole. The data compared within reasonable limits given the variability of the mineralization.

The geological database used in the MRE comprises sixty-nine (69) historical (BCL) surface drillholes and 38 NEXM drillholes, including the extension of 6 BCL drillholes, and 171 underground drillholes drilled by BCL during mining operations that were selected by MSA from a larger underground drilling dataset to be representative of the mineralization in and close to the mined-out areas.

The BCL assays were completed at the BCL Phikwe Laboratory. At the time of preparation and analysis, the BCL-owned laboratory was not independent of the operator and accredited only for high grade matte analyses, but not for exploration grade analyses. Ni and Cu were analysed by flame atomic absorption spectrometry. Relative density measurements were obtained by water immersion method.

The NexMetals drill core was logged, photographed and marked for sampling in nominal lengths of one metre. The core samples were cut in half longitudinally using a rotating diamond saw. The core samples were given a unique sample reference number, bagged and despatched to ALS Laboratories Ltd. in Johannesburg, South Africa for analysis (SANAS Accredited Testing Laboratory, No. T0387). Samples were analysed for Ni, Cu, and Co using a peroxide fusion preparation and inductively coupled plasma atomic emission spectrometry (ICP-AES) finish (ME-ICP81). Analyses for Pt, Pd, and Au were by fire assay (30 g nominal sample weight) with an ICP-AES finish (PGMICP23), also by ALS. Ag was analysed using a 4-acid digest and ICP-AES finish (ME-ICP61). Specific gravity measurements were also completed by ALS on pulps of selected samples.

The NexMetals drilling was subjected to a comprehensive programme of quality assurance and quality control by NexMetals, independent of the laboratories’ own QAQC measures, including certified reference materials (5%), blank samples (5%), coarse duplicate samples (5%) and pulp duplicate samples (5%). The Qualified Person, Mr. J.C. Witley (BSc Hons, MSc (Eng.)), is satisfied that the assay results are of sufficient accuracy and precision for use in Mineral Resource estimation.

Mineral Resource Estimate

The 2026 Selebi Main MRE was completed by The MSA Group in Johannesburg, South Africa.

The Mineral Resource was estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Best Practice Guidelines and is reported in accordance with the 2014 CIM Definition Standards, which have been incorporated by reference into National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

The deposit can be described as a metamorphosed magmatic nickel-copper sulphide deposit. Mineralization at Selebi Main comprises massive, semi-massive and disseminated sulphides contained within a unit of amphibolite that is surrounded by undifferentiated quartzo-feldspathic and mafic gneisses. Two mineralized zones have been interpreted, known as the Upper Vein and the Lower Vein, which are separated by barren gneiss. The Upper Vein is generally the most continuous, whereas the Lower Vein is not developed over the entire area of the Upper Vein. The veins reach thicknesses of up to 35 metres and can narrow to 10’s of cm and pinch out locally. The veins have an average true thickness of approximately 7 metres for each vein. The deposit is broadly tabular with a strike length of between 1,500 m in the shallower areas to 2,500 m at depth and NEXM drilling intersected nickel-copper sulphides at depths of up to approximately 1,950 m below surface. Stoping has depleted the Mineral Resource from near surface to between 800 m and 1,000 m below surface. The deposit dips to the southwest at an average of 40 degrees, however, local dip variability was commonly experienced in the prior mining areas.

Cobalt and silver occur within the nickel-copper sulphide mineralization, with sufficient cobalt data to include in the MRE; however silver assays are not available over much of the Mineral Resource extent and have not been included in the MRE. Minor concentrations of platinum and palladium occur within the nickel-copper sulphide mineralization for which economic potential has not been established and, similarly to silver, platinum and palladium assays do not cover the full extent of the Mineral Resource. Sulphide mineralogy is primarily pyrrhotite, chalcopyrite and pentlandite.

All recent exploration at the project, since the closure of the mine, was completed by NEXM in 2022 and 2023, and from 2025 to 2026 and is ongoing. All prior exploration work of relevance to the MRE was completed by the previous operator, BCL Ltd (BCL) up until 2016. The drilling completed since the 2024 MRE allowed for refinement of the previous interpretation and extension to the previously defined resource area. The cut-off date for inclusion of data in this MRE is 21 September 2026.

Geological modelling was undertaken in Datamine Studio RM utilising implicit vein modelling. Upper and Lower veins were coded into the surface and underground drillhole data based on thickness, lithology and grade. Vein intercepts were selected based on an approximate threshold Net Smelter Return (NSR) value of US$70/t using nickel, copper and cobalt grades, while ensuring geological continuity between closely spaced intercepts. A minimum thickness of 1.5 metres was used to allow for a potential minimum mining width, and in some cases dilution outside the mineralized vein was included. Variography was completed using Datamine Supervisor software. Ellipsoids were orientated in the plane of mineralization with slight anisotropy along the mineralization plunge. Nickel, copper, and cobalt grades were interpolated into a rotated block model with a parent cell size of 20 mX by 20 mY by 2 mRL using ordinary kriging, and density was estimated using inverse distance squared. The Datamine process of “Dynamic Anisotropy” was used to modify the search ellipse to changes in the vein orientation. Volumes representing mined voids were removed and a single modelled dyke was assigned grades of zero. NSR was then calculated for each block model cell using the estimated grades, metal prices, recoveries, off-site costs and payabilities. The mineral resource model was classified into the Inferred category, taking into account data quality, geological modelling uncertainty, drillhole spacing and kriging outputs. The majority of the Inferred Mineral Resource is informed by drillholes with an approximate spacing of 200 metres or significantly less close to the mined areas. The Mineral Resource extent was extrapolated a maximum of 100 metres along strike, 150 metres down plunge or the lesser of halfway to a below threshold intercept. 

The Mineral Resource was reported using am NSR grade above US$75 and a minimum thickness of 1.5 metres. Using concentrate costs of US$20/tonne, G&A of US$5.50 per tonne, mining costs of US$47.6 and royalites of 3% for base metals the Mineral Resource satisfies cut-off grade criteria and the QP considers that reasonable prospects for eventual economic extraction (RPEEE) for the Mineral Resource have been demonstrated.

Mineral resources are not mineral reserves and do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. There is no certainty that any mineral resources will be converted into mineral reserves. The quantity and grade of reported Inferred resources in the 2026 Selebi Main MRE are uncertain in nature, there has been insufficient exploration to define these Inferred resources as an Indicated or Measured mineral resource, and it is uncertain if further exploration will result in upgrading them to an Indicated or Measured mineral resource category.

Qualified Persons 

Mr. J.C. Witley (BSc Hons, MSc (Eng.)) is a geologist with more than 35 years’ experience in base and precious metals exploration and mining as well as Mineral Resource evaluation and reporting. He is Head of Mineral Resources for The MSA Group (an independent consulting company), is registered as Pr.Sci.Nat. with the South African Council for Natural Scientific Professions (SACNASP) and is a Fellow of the Geological Society of South Africa (GSSA). Mr. Witley has the appropriate relevant qualifications and experience to be considered a “Qualified Person” for the style and type of mineralization and activity being undertaken as defined in NI 43-101 and is considered independent of NexMetals pursuant to NI 43-101. Mr. Witley has reviewed and approved the technical and scientific information within this news release pertaining to the Mineral Resource Estimate.

Verification included a site visit by the QP to inspect historical mineralized core, observe existing infrastructure on surface and underground, examine mineralization in underground drives, and verify several surface drillhole collar locations (both historical and recent). The mineralization in several holes was inspected by the QP together with the sample assay results to verify the magnitude of the mineralization copper and nickel grades. In addition, a selection of samples collected by NexMetals have been verified against independently accessed assay certificates, and a random selection of historical database results have been compared against digital records.

The scientific and technical content of this news release has been reviewed and approved by Sharon Taylor, V.P. Geophysics of the Company, MSc, P.Geo, who is a “qualified person” for the purposes of NI 43-101.

Technical Report

The 2026 Selebi Main MRE will be supported by a NI 43-101 Technical Report to be filed within 45 days of this news release.

SRC Swiss Resource Capital AG Engagement

NexMetals has engaged SRC Swiss Resource Capital AG (“SRC”) to provide digital, translation, news and communications services in Europe (the “Services”). Under the terms of the engagement agreement (the “Agreement”), NexMetals has agreed to pay SRC a fee of CHF 5,000 per month out of its working capital for a six-month term until March 1, 2026, continuing month-to-month thereafter. SRC’s CEO is Marc Ollinger and has an address at Poststr. 1, CH-9100 Herisau, Switzerland. SRC is at arm's length to NexMetals, has no interest, directly or indirectly, in NexMetals or its securities (or any right or intent to acquire such an interest), and has no other relationship with NexMetals, except pursuant to the Agreement. The Agreement is subject to the approval of the TSX Venture Exchange.

About NexMetals Mining Corp.

NexMetals Mining Corp. is a TSX.V and NASDAQ listed mineral exploration and development company focused on redeveloping the past-producing Selebi and Selkirk copper-nickel-cobalt-platinum group element mines in Botswana. At Selebi, NexMetals has confirmed the scale of mineralization is larger than historical estimates, supported by NI 43-101- and Regulation S-K 1300-compliant resource estimates, with ongoing down-hole geophysics, drilling, and metallurgical programs aimed at expanding resources and supporting future economic studies. The Company is led by an experienced management and technical team with a proven track record in global mineral projects, emphasizing disciplined execution, transparent governance, and long-term stakeholder value creation.

For further information about NexMetals Mining Corp., please contact:

Sean Whiteford

CEO 

info@nexmetalsmining.com

1-866-794-NEXM (6396)

Follow Us 

X: https://x.com/NexMetalsCorp  

LinkedIn: https://www.linkedin.com/company/NexMetalsMiningCorp 

Facebook: https://www.facebook.com/NexMetalsMiningCorp

In Europe

Swiss Resource Capital AG

Marc Ollinger

info@resource-capital.ch

www.resource-capital.ch

Neither the TSX Venture Exchange and its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the Nasdaq Stock Market LLC accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Cautionary Note Regarding Forward-Looking Statements

This news release contains “forward-looking statements” within the meaning of the United States federal securities laws and “forward-looking information” within the meaning of applicable Canadian securities legislation (collectively, “forward-looking information”) based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. For the purposes of this release, forward-looking information includes, but is not limited to, the filing of a Technical Report prepared in accordance with National Instrument 43-101 on SEDAR+ and EDGAR within 45 days of this news release; the growth and corresponding completion and reporting of the updated Selebi North mineral resource estimate; the expectation that the combined Selebi Main and Selebi North estimates will provide a more complete picture of the Selebi Mines mineral resources; further growth potential from step-out drilling completed after the resource cut-off date, including thick, high-grade massive sulphide mineralization extending beyond the updated resource envelope; Selebi's development potential, the ability to produce separate, clean copper and nickel concentrates meeting commercial smelter specifications, and remaining upside potential; the Company continuing to advance the Selebi Project through drilling and further technical work; and the Company providing guidance on next steps following completion of the Selebi North estimate. The forward-looking information in this news release is based on certain key assumptions, including, but not limited to, assumed metal prices and recoverability; the ability of the Company to produce separate, clean copper and nickel concentrates meeting commercial smelter specifications; the continued availability of qualified personnel to complete pending technical work; MSA completing the Selebi North mineral resource estimate in the ordinary course without material delays; the Company's ability to file the Technical Report on SEDAR+ and EDGAR within the required 45-day period; the absence of material adverse changes to applicable laws, regulations or permitting requirements in Botswana; and the Company having sufficient working capital to fund its planned exploration and development activities. The forward-looking statements in this news release, by their nature, necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, potential delays in the completion and reporting of the Selebi North mineral resource estimate by MSA; the risk that the Technical Report may not be filed within the stated 45-day period; capital and operating costs varying significantly from estimates; the preliminary nature of drilling and metallurgical test results; the risk that step-out drilling results completed after the resource cut-off date may not translate into additional mineral resources upon further evaluation; payabilities of metals varying from expectations; the ability of exploration results to predict mineralization; the risk that the Company will not be able to expand or enhance its current mineral resource estimates; the ability of the Company to implement its drilling, geoscience and metallurgical work on its properties and work plans generally; prefeasibility or the feasibility of mine production; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s filings with the SEC on EDGAR (www.sec.gov) and public disclosure record on SEDAR+ (www.sedarplus.ca), in each case, under the Company’s issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Highlights

• Equity investment – Macquarie has entered into a subscription agreement for C$10 million of Mayfair common shares, priced at $C4.26, representing a 10% premium to the 5-day VWAP, aligning a leading global resources bank with Mayfair’s shareholders.
• Project finance facility - non-binding engagement letter to arrange a C$300 million project finance facility (inclusive of up to C$20 million capitalized interest) which, if completed on the terms contemplated, would fund the majority of the C$450 million initial development capital estimated in the 2026 Pre-Feasibility Study.
• Early draw feature – the proposed Facility includes a C$25 million early drawdown tranche expected to be available on closing, which would provide financial flexibility to fund early works, long-lead equipment purchases and detailed engineering ahead of full construction drawdowns.
• Interest rate – Adjusted Term Canadian Overnight Repo Rate Average “CORRA” plus 4.75% per annum, stepping down to Adjusted Term CORRA plus 4.25% per annum following project completion, with up to C$20 million of interest capitalizable during construction.
• Repayment terms aligned with the mine plan – quarterly repayments would commence six months after the start of commercial production, with full repayment no later than 72 months after initial drawdown of the Facility following the early drawdown tranche.
• Gold offtake – the financing package includes an offtake right in favour of Macquarie over the first 50,000 ounces of gold produced each year, to a maximum of 300,000 ounces, priced at a published reference price less US$50 per ounce, with 50% of such gold offtake vesting concurrently with signing of the engagement letter and closing of Macquarie’s equity investment and the remaining 50% of such gold offtake vesting on closing of the Facility.

Under the non-binding term sheet, Macquarie would act as Mandated Lead Arranger, Agent and Sole Underwriter of the Facility, which would be structured as a project finance facility. The proceeds would be used to partially fund the development, construction, commissioning and start-up of Fenn-Gib, together with associated working capital and project costs. The Facility would be secured by first-ranking security over the Project. Macquarie may, in consultation with Mayfair, arrange participation by additional lenders or risk participants in respect of a minimum of 30% of the Facility amount.

Kevin Annett, Mayfair’s Chief Financial Officer, stated: “Entering into this engagement letter and financing term sheet represents an important milestone for Mayfair as we advance Fenn-Gib toward development. We are pleased to partner with Macquarie, a highly respected global financial institution with deep mining sector experience. The proposed financing provides a strong foundation for our broader project funding strategy while allowing us to maintain a disciplined approach to capital allocation and project execution. We believe Macquarie will be an excellent long-term partner as we advance Fenn-Gib and continue to grow the Company.”

Mike Burns, Head of Mining Finance – Americas in Macquarie’s Commodities and Global Markets business, added: “Fenn-Gib stands out as a Canadian gold project with the potential to become a significant new producer. Mayfair has taken a disciplined approach to advancing and de-risking the project, and we are pleased to bring Macquarie’s global mining and project finance experience to support the next stage of its development. As a shareholder and through our engagement on the senior debt financing, we look forward to working with the Mayfair team as it advances Fenn-Gib towards construction and production.”

The term sheet is non-binding. The proposed Facility and related transactions remain subject to completion of due diligence, including review by an independent engineer, negotiation and execution of definitive documentation, and satisfaction of conditions precedent customary for a financing of this nature.

The C$10 million strategic equity investment will be priced at C$4.26, representing a 10 percent (10%) premium to the 5-day volume-weighted average trading price of the Company’s common shares on the TSX Venture Exchange on and including September 30, 2026, subject to Exchange approvals.

About Mayfair Gold

Mayfair Gold is a Canadian development-stage gold company focused on advancing the 100%-owned Fenn-Gib Project in the Timmins region of Northern Ontario. Fenn-Gib hosts a 4.3-million-ounce indicated mineral resource of gold (181.3Mt at an average grade of 0.74 g/t) and the expected strategy outlined in the 2026 Pre-Feasibility Study (the “PFS”)[1] is to develop the Project under the provincial permitting process, targeting the higher-grade 1-million-ounce probable mineral reserve (25.1Mt at an average grade of 1.29g/t) sitting near-surface, highlighting the optionality and scalability provided by the deposit.  The PFS also outlines the potential to develop Fenn-Gib into a new Canadian gold producer, with initial development capital of C$450 million, a base-case payback period of 2.7 years, and cumulative free cash flow[2] of US$896 million over the first six years of production based on a US$3,100/oz gold price. The Company is advancing permitting activities, detailed engineering, and stakeholder engagement with the goal of starting construction in 2028 with initial production in 2030. The Company also remains focused on exploration around the broader land package with the goal of enhancing mineral resource scale and growth opportunities.

Cautionary Note Regarding Forward-Looking Information

This news release contains certain forward-looking information within the meaning of applicable Canadian securities legislation and forward-looking statements within the meaning of applicable United States securities legislation (collectively, “forward-looking information”). The use of the words “will” and “expected” and similar expressions is intended to identify forward-looking information. Forward-looking information in this news release includes, but is not limited to, the expected strategy to develop the project under the provincial permitting process, targeting the higher-grade 1-million-ounce mineral reserve, building and operating the Fenn-Gib Project, any anticipated permitting timelines, the completion of the proposed financing with Macquarie on the terms described in this news release or at all, the availability, size, structure, pricing, drawdown and repayment of the project finance facility and the early draw tranche, the completion of the proposed equity investment and gold offtake, the sufficiency of the financing package relative to estimated development capital, and all disclosure related to the PFS, including expected commencement of construction and production. Although Mayfair Gold believes that the expectations reflected in such forward-looking information is reasonable, readers are cautioned that actual results may vary from the forward-looking information. The Company has based the forward-looking information on the Company’s current expectations and assumptions about future events. This information also involves known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information, including the risks, uncertainties, and other factors identified in the annual information form and Form 40-F of the Company for the year ended December 31, 2025, available under the Company's profiles on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov, respectively. Furthermore, the forward-looking information contained in this news release is as at the date of this news release, and Mayfair does not undertake any obligation to publicly update or revise any of this forward-looking information except as may be required by applicable securities laws.  

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

For further information, please visit www.mayfairgold.ca or direct enquiries to: 

Drew Anwyll, P.Eng.
 CEO, Mayfair Gold Corp.
 2770 Plymouth Dr – Suite 101 

Oakville, ON L6H 6Y4 Canada
 +1 (855) 350-5600
info@mayfairgold.ca

In Europe

Swiss Resource Capital AG

Marc Ollinger

info@resource-capital.ch

www.resource-capital.ch

[1] Please refer to the technical report entitled “Fenn-Gib Gold Project NI 43-101 Technical Report and pre-Feasibility Study” dated effective December 19, 2025 available on SEDAR+ at www.sedarplus.ca for further details.

[2] Free cash flow does not have a standardized meaning and may not be comparable to similar

measures presented by other issuers, referred to as non-GAAP financial measures. As the Corporation is not in production, the Corporation does not have historical non-GAAP financial measures nor historical comparable measures under IFRS, and therefore the foregoing prospective non-GAAP financial measures may not be reconciled to the nearest comparable measures under IFRS.

The campaigns added 325 channel samples over 580.5 m of channels and extended the mapped mineralized breccia by 105 m to a strike length of 410 m (Figure 3). Every one of the 325 new channel samples returned gold, silver or copper mineralization, taking the total to 648 of 648 samples mineralized samples above background. A panel sample taken adjacent to the principal channel returned 32.8 g/t Au and 130 g/t Ag (Plate 1), the second-highest gold grade from rock sampling at Previsto. Sampling is limited to outcrop exposed in the jungle; all sampled areas represent minimum dimensions and remain open in all directions.

Michael Hudson, CEO, states: “Every one of the 648 channel samples we have collected at Previsto Central has returned mineralization above background levels. That consistency, across a breccia now traced for 410 m and open in all directions, tells us we are dealing with a system of real scale. More important is what kind of system it is. Previsto has the hallmarks of an alkalic porphyry-epithermal system, the deposit class that hosts Cripple Creek in Colorado, and to our knowledge the first of its type recognized in Peru. 

“With drilling commencing again next month in Sweden, our work now in Peru is to vector into the core of the system as we advance through permitting toward our maiden drill program in 2027.”

Plate 1: Photo of panel sample 17796. Roscoelite-adularia altered feldspar porphyry returned 32.8 g/t Au and 130 g/t Ag.

Previsto Central Detailed Results

Every one of the 325 channel samples returned gold, silver, or copper mineralization. Combined with the 323 mineralized channel samples reported across the two previous campaigns (news releases dated June 3, 2026, and July 22, 2026), all 648 channel samples collected at Previsto Central across four consecutive campaigns have returned mineralization above background levels, a 100% hit rate sustained as the sampled footprint has grown. Channel CH17992 returned 77.3 m @ 0.1 g/t Au, 2 g/t Ag (uncut) and infills a gap between earlier channels, with individual samples returning 2.3 g/t Au and 0.9 g/t Au within the breccia. Channel CH18662 extends the mapped breccia a further 105 m southeast to a strike length of 410 m (Figure 3). Channel CH18046 returned 19.8 m @ 0.6 g/t Au, 6 g/t Ag (uncut) and outlines a developing higher-grade gold trend stretching from the principal channel over 370 m south.

The two campaigns focused on a 650 m x 240 m polygon (Figure 2) centred on and extending east and south of the principal channel, completing 580.5 m (325 samples) of cumulative channel sampling. Channels were oriented transverse (dominantly NW-SE to N-S) across the porphyry stocks and breccia zones to define alteration boundaries, determine structural controls, and assess the lateral extension of mineralization (Figure 3). Highlight channel composites are summarized below (broad intervals without a cut-off; higher-grade intervals at a 0.5 g/t Au cut-off, maximum internal dilution 0 m): 

1. CH18046: 19.8 m @ 0.6 g/t Au, 6 g/t Ag including 2.0 m @ 3.1 g/t Au
2. CH17992: 77.3 m @ 0.1 g/t Au, 2 g/t Ag including 1.5 m @ 2.3 g/t Au
3. CH17986: 10.6 m @ 0.5 g/t Au, 5 g/t Ag including 6.7 m @ 0.7 g/t Au
4. CH18227: 54.3 m @ 0.2 g/t Au, 2 g/t Ag and 7.7 m @ 0.6 g/t Au
5. CH18273: 11.6 m @ 0.4 g/t Au, 3 g/t Ag including 4.0 m @ 0.6 g/t Au
6. CH18284: 12.1 m @ 0.3 g/t Au, 1 g/t Ag including 3.3 m @ 0.9 g/t Au
7. CH18252: 16.7 m @ 0.2 g/t Au, 3 g/t Ag including 3.1 m @ 0.7 g/t Au
8. CH18060: 10.4 m @ 0.3 g/t Au, 3 g/t Ag including 2.5 m @ 0.6 g/t Au

In addition to channel sampling, 34 rock chip and panel samples were collected across a 600 m x 200 m polygon at Previsto Central. Assay results are summarized in Table 1 (n = 34):

Table 1: Summary of results of rock chip and panel sampling.

Mineralized Breccia and Structural Setting

Mapping during the two campaigns identified two mineralized breccia styles within the feldspar porphyry host: a crackle breccia exposed along the 77.3 m principal channel (CH17992), and discrete breccia bodies up to 6.7 m wide in channels CH17986, CH18486 and CH18273. The breccias carry adularia and roscoelite (a vanadium-bearing mica) alteration with disseminated pyrite and local tellurides, and a veinlet sample returned 0.16% V, a diagnostic signature of alkalic epithermal systems.

Gold and copper are interpreted to be carried mainly by an early north-south set of K-feldspar-quartz-sulphide veinlets. Surface outcrops are strongly weathered and leached of copper, zinc and lead, but relict veinlets and boxwork textures indicate the primary sulphide-bearing system continues below the weathered zone, a target that only drilling can test. The mineralized breccia now extends over 410 m of strike and remains open in all directions.

Alkalic Porphyry-Epithermal Setting: A Rare and Significant Deposit Class

Work by the Company’s geological consultants indicates that the Previsto system displays the hallmark characteristics of an alkalic porphyry-epithermal district, a class of deposit that includes a number of major gold districts. Features identified at Previsto include:

• Roscoelite-cemented hydrothermal breccias associated with Au-Ag-Te-V-Cu-Mo-Pb-Ba-As, with grades up to 33.1 g/t Au and 120 g/t Ag at the Previsto Central target.
• Fluorite occurring as cement in roscoelite-cemented breccias, a diagnostic feature of alkalic systems.
• Massive adularia alteration associated with Au-Ag-Te mineralization.
• Pseudoleucite-bearing syenite porphyries, a silica-undersaturated intrusive suite that is globally rare and genetically linked to alkalic gold mineralization.

These features are shared with Cripple Creek in Colorado, a district that has produced more than 20 million ounces of gold from a similar alkalic igneous setting with roscoelite, adularia and telluride associations. Emperor and Tuvatu in Fiji are further alkalic analogues. To the Company’s knowledge, Previsto is the first system of this type recognized in Peru, which substantially increases the project’s district-scale potential. Mineralization at Cripple Creek, Emperor and Tuvatu is not necessarily indicative of mineralization at Previsto.

Next Steps

Hannan is advancing two work fronts at Previsto:

• Structural Mapping: Detailed mapping and channel sampling of Previsto Central outcrops to further define higher-grade gold and understand the structural controls of mineralization, with a focus on vectoring toward the core of a potentially highly prospective breccia pipe.
• Drill Permitting: DIA evaluation in progress in parallel at DGAAM, ANA and SERFOR, with final approvals anticipated during Q1 2027, ahead of the first ever drill program at Previsto. 

DIA Submission and New Decree to Expedite Exploration Drilling

On July 14, 2026, the Company announced the completion and submission of its Declaración de Impacto Ambiental (“DIA”) or Environmental Impact Statement for the 100% owned Amanecer gold-copper project. The DIA is the primary environmental certification required for drilling to proceed in Peru and provides for 18 drill platforms and 7,650 m of diamond drilling across the Previsto Central and Inca Garcilazo prospects, the first ever drilling at Previsto. The DIA was submitted to the General Directorate of Mining Environmental Affairs (“DGAAM”) of Peru’s Ministry of Energy and Mines. DGAAM has confirmed that the request for evaluation and opinion has also been delivered to SERFOR, Peru’s National Forest and Wildlife Service, and the evaluation process is now in progress in parallel at DGAAM, the National Water Authority (“ANA”) and SERFOR. Final DIA and other approvals are anticipated during Q1 2027, after which drilling can commence.

Hannan also welcomes the July 2026 publication of Supreme Decree No. 014-2026-EM in Peru’s official gazette, El Peruano, which amends the Environmental Protection Regulation for Mining Exploration Activities and is expected to expedite permitting for the project. Under the reform, the evaluating authority, MINEM, may now notify companies of observations without waiting for all external entities to report, the DIA threshold has been expanded to 60 drilling platforms to give more mid-sized projects access to the streamlined Category I pathway, duplicate observations are prohibited, official technical assistance desks have been established, and strict, predictable timelines now apply to both authorities and companies, with penalties for administrative inaction. These changes are expected to bring greater efficiency and predictability to the evaluation of the Amanecer DIA.

About the Previsto Prospect (DIA AMANECER)

The 100% owned Previsto prospect (DIA AMANECER) is located in central-eastern Peru (Figures 1 and 2). The area is characterized by steep topography on the eastern flank of the Central Cordillera with elevations between 800 m and 2,000 m above sea level. The prospect was discovered in 2021 during an extensive greenfields prospecting program initiated by Hannan targeting back-arc porphyry copper-gold systems.

Previsto has rapidly evolved from a greenfields prospect to an emerging alkalic porphyry-epithermal area. At Previsto and Belen, a significant-scale porphyry cluster is present within an area of 25 km by 10 km, with eight porphyry and/or epithermal targets now identified.

Technical Background

All samples were collected by Hannan geologists. Samples were transported to ALS in Lima via third-party services using trackable parcels and by company staff. At the laboratory, rock samples were prepared and analyzed by standard methods. The sample preparation involved crushing 70% to less than 2 mm, riffle split off 250 g, pulverize split to better than 85% passing 75 microns. Samples were analyzed by method ME-MS61, a four-acid digest performed on 0.25 g of the sample to quantitatively dissolve most geological materials. Analysis is via ICP-MS. Gold was analyzed by ALS in Lima using a standard sample preparation and 30 g fire assay sample charge. QAQC protocol for rock samples is to include one CRM per 25 samples. 

Channel samples are considered representative of the in-situ mineralization. At this stage, true widths of mineralization are not known. Grab or panel samples are selective by nature and are unlikely to represent average grades on the property.

About Hannan Metals Limited (TSXV:HAN) (OTCPK: HANNF) (Frankfurt: C8MQ)

Hannan Metals Limited is an exploration company with a primary focus on advancing its Previsto gold-copper prospect (Amanecer project) in Peru, and an option to earn 100% in three high-grade gold projects in Sweden. Over the last decade, the team behind Hannan has forged a long and successful record of discovering, financing, and advancing mineral projects in Australia, Europe and South America.

Mr. Michael Hudson FAusIMM, Hannan’s Chairman and CEO, a Qualified Person as defined in National Instrument 43-101, has prepared, reviewed, verified and approved the technical contents of this news release.

Further Information

Further discussion and analysis of the project is available through the Hannan Metals website at www.hannanmetals.com and the Hannan YouTube channel at www.youtube.com/@HannanMetals 

In Europe

Swiss Resource Capital AG

Marc Ollinger

info@resource-capital.ch

www.resource-capital.ch

Forward Looking Statements. Certain disclosure contained in this news release may constitute forward-looking information or forward-looking statements, within the meaning of Canadian securities laws. These statements may relate to this news release and other matters identified in the Company’s public filings. In making the forward-looking statements the Company has applied certain factors and assumptions that are based on the Company’s current beliefs as well as assumptions made by and information currently available to the Company. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. These risks and uncertainties include but are not limited to: the political environment in which the Company operates continuing to support the development and operation of mining projects; risks related to negative publicity with respect to the Company or the mining industry in general; planned work programs; permitting; and community relations. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

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 news.

Figure 1: Overview of the 347 km² Valiente project area in Peru.

Figure 2: Map showing the 5 km x 5 km gold anomaly at Previsto and the location of several systems developing within the Previsto footprint which highlight this area as a new mineral district. Location of current results also shown. 

Figure 3: Previsto Central area showing gold in rock chips and channels, including channels reported here. The 410 m strike length of the mineralized breccia is shown in the NW-SE orientation (true width unknown). Call outs along channels reported here show gold and silver results.

The Notes offering was completed on a private placement basis to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the United States Securities Act of 1933, as amended (the "Securities Act") and outside of the United States pursuant to Regulation S under the Securities Act (the "Offering").

Sean Roosen, Chairman and CEO, commented: "With construction of the Cariboo Gold Project underway following our positive final investment decision earlier this month, the completion of this offering further bolsters our already strong balance sheet position and, together with other available sources of capital, fully funds us through commercial production anticipated in 2029. Refinancing the existing Appian project finance facility on cost-effective terms lowers our overall cost of capital and provides greater financial flexibility as we progress construction. The exceptional support from leading institutional investors underscores the quality of the Cariboo Gold Project, our development strategy and management's ability to deliver. Our focus remains on disciplined project execution while concurrently advancing exploration programs aimed at unlocking the vast exploration potential of the Project and its broader regional land package.”

The Notes are fully and unconditionally guaranteed by certain of the Company’s subsidiaries, which, at closing, consisted of Barkerville Gold Mines Ltd., its subsidiary that holds the Cariboo Gold Project in British Columbia, Canada (the "Cariboo Gold Project" or "Project"), and are secured by a first priority lien on the Company’s and each guarantor’s property, including equity interests owned by the Company and each guarantor in their respective subsidiaries, the interest reserve account and disbursement account described below, and personal and real property, subject to certain exceptions.

The net proceeds from the Offering were approximately US$578.0 million, after deducting the initial purchasers’ discounts and commissions and estimated offering expenses. The net proceeds from the Offering were used to:

• repay all amounts outstanding, and terminate all commitments, under the Company’s senior secured credit facility with Appian Capital Advisory Limited (the "Appian Credit Facility") with approximately US$120.8 million of the net proceeds from the Offering;
• fund a segregated interest reserve account in an amount equal to the first five interest payments on the Notes; and
• fund, with the remaining net proceeds, a segregated disbursement account with funds to be used to advance the Cariboo Gold Project.

Table 1 below summarizes the estimated sources and uses of capital from August 1, 2026, through to forecasted commercial production in H2 2029, after giving effect to the net proceeds from the Offering.

TABLE 1: Estimated Sources and Uses of Capital (from August 1, 2026 to commercial production)¹

1. Totals may not add up due to rounding. Assuming a USD:CAD exchange rate of C$1.38 per US$1.00.
2. As adjusted cash and cash equivalents give effect to US$30 million (C$41 million) in expected gross proceeds from the Trafigura equity investment announced September 14, 2026.
3. Net proceeds from the Offering of approximately US$578.0 million less repayment of approximately US$120.8 million of amounts outstanding under the Appian Credit Facility.
4. Exploration expenditures include remaining flow-through expenditure obligations of approximately C$22 million, with the balance related to planned exploration activities across conversion, infill, and CGP deeps exploration surface and underground drilling.

In connection with the Offering, the initial purchasers purchased the Notes at a purchase price of 98.25% of the principal amount of the Notes.   

The offer and sale of the Notes have not been and will not be registered under the Securities Act, or any state securities laws, or qualified by way of a prospectus in any province or territory of Canada. The Notes may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. The Notes sold to persons located or resident in Canada are subject to a customary four-month hold period under Canadian securities laws.

This news release is neither an offer to sell nor a solicitation of an offer to buy any of the Notes being offered in the Offering, nor shall it constitute an offer, solicitation or sale of any Notes in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification thereof under the securities laws of any such state or jurisdiction. 

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This news release contains “forward-looking information” (within the meaning of applicable Canadian securities laws) and “forward-looking statements” (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, as amended) (collectively, “forward-looking statements”). Such forward-looking statements, by their nature, require Osisko Gold to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Such forward-looking statements are not guarantees of performance and are identified with words such as “may”, “will”, “would”, “could”, “expect”, “believe”, “plan”, “anticipate”, “intend”, “estimate”, “potential”, “propose”, “project”, “outlook”, “foresee”, “continue”, “objective”, “strategy”, variants of these words or the negative or comparable terminology, as well as terms usually used in the future and the conditional. Information contained in forward-looking statements is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including statements pertaining to the Company’s expected funding through commercial production anticipated in 2029; the Company’s expected financial flexibility as it progresses construction; the Company’s focus on disciplined project execution and its plans to advance exploration programs aimed at unlocking the exploration potential of the Project and its broader regional land package; the anticipated use of proceeds from the Offering; the Company’s estimated sources and uses of capital; the ability to develop the Cariboo Gold Project and its status as being fully permitted; the Company's objective of becoming an intermediate gold producer; and the exploration potential and potential for future discoveries (if any) of its properties.

Osisko Gold considers its assumptions to be reasonable based on information currently available but cautions the reader that their assumptions regarding future events, many of which are beyond the control of Osisko Gold, may ultimately prove to be incorrect since they are subject to risks and uncertainties that affect Osisko Gold and its business. Such risks and uncertainties include, but are not limited to: the absence of further work stoppages or suspensions at the Cariboo Gold Project; risks associated with the development and construction of the Cariboo Gold Project; risks relating to third-party approvals, including the issuance of permits by governments, favourable regulatory conditions and approvals, capital market conditions and the Company’s ability to access capital on terms acceptable to the Company for the contemplated exploration and development at the Company’s properties; the absence of unforeseen ground conditions or other geological challenges; the ability to continue current operations and exploration; regulatory framework and presence of laws and regulations that may impose restrictions on mining; errors in management’s geological modelling; the timing and ability of the Company to obtain and maintain required approvals and permits; the results of exploration activities; the availability of necessary equipment, supplies and infrastructure; risks relating to exploration, development and mining activities; the global economic climate; fluctuations in metal and commodity prices; fluctuations in the currency markets; dilution; environmental risks; and community, non-governmental and governmental actions and the impact of stakeholder actions. Readers are urged to consult the disclosure provided under the heading “Risk Factors” in the Company’s annual information form for the year ended December 31, 2025 as well as those risks and factors disclosed in the Company’s most recent financial statements and management’s discussion and analysis and other public filings filed under Osisko Gold’s issuer profile on SEDAR+ (www.sedarplus.ca) and on the SEC’s EDGAR website (www.sec.gov), for further information regarding the risks and other factors facing the Company, its business and operations. Although the Company believes the expectations conveyed by the forward-looking statements are reasonable based on information available as of the date hereof, no assurances can be given as to future results, levels of activity and achievements. The Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. Forward-looking statements are not guarantees of performance and there can be no assurance that these forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. 

Readers are cautioned that the foregoing list of assumptions, risks and uncertainties is not exhaustive. The forward-looking statements contained herein are made as of the date of this news release and, except as required by applicable law, the Company undertakes no obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise.

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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

The agreement is an important step in implementing the US PGM operations’ plan to fully mechanise its mining, including a move away from a rock-breaking incentive to a team-based incentive and modernising certain legacy benefits that were out-of-scope with the United States market.

Strike action by members of the USW at the Stillwater East mine and Columbus metallurgical facility continues. The Company remains committed to constructive engagement to reach an agreement that enables long-term sustainability of the operations.

About Sibanye-Stillwater 

Sibanye-Stillwater is a global mining and metals processing group with a diverse portfolio of operations, projects and investments across five continents. The Group is also one of the foremost global recyclers of a suite of metals and has interests in leading secondary mining operations.

Sibanye-Stillwater is one of the largest producers and refiners of platinum group metals (PGMs: platinum, palladium, rhodium, iridium and ruthenium) and is a top-tier gold producer. It also produces nickel, chrome, copper, silver, cobalt and zinc. The Group has also diversified into mining and processing battery metals and has increased its presence in the circular economy by expanding its recycling and secondary-mining exposure globally. For more information, see www.sibanyestillwater.com. 

Investor relations contact:

Email: ir@sibanyestillwater.com

Website: www.sibanyestillwater.com

LinkedIn: https://www.linkedin.com/company/sibanye-stillwater  

Facebook: https://www.facebook.com/SibanyeStillwater       

YouTube: https://www.youtube.com/@sibanyestillwater/videos  

X: https://twitter.com/SIBSTILL  

In Europe

Swiss Resource Capital AG

Marc Ollinger

info@resource-capital.ch

www.resource-capital.ch

Sponsor: J.P. Morgan Equities South Africa Proprietary Limited

DISCLAIMER FORWARD LOOKING STATEMENTS

This announcement contains forward-looking statements within the meaning of the “safe harbour” provisions of the United States Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this presentation may be forward-looking statements. Forward-looking statements may be identified by the use of words such as “will”, “would”, “expect”, “forecast”, “potential”, “may”, “could”, “believe”, “aim”, “anticipate”, “intend”, “target”, “estimate” and words of similar meaning.

These forward-looking statements, including among others, those relating to Sibanye Stillwater Limited’s (Sibanye-Stillwater or the Group) future financial position, business strategies and other strategic initiatives, business prospects, industry forecasts, production and operational guidance, climate and ESG-related targets and metrics, and plans and objectives for future operations, project finance and the completion or successful integration of acquisitions, are necessarily estimates reflecting the best judgement of Sibanye-Stillwater’s senior management. Readers are cautioned not to place undue reliance on such statements. Forward-looking statements involve a number of known and unknown risks, uncertainties and other factors, many of which are difficult to predict and generally beyond the control of Sibanye-Stillwater that could cause its actual results and outcomes to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. As a consequence, these forward-looking statements should be considered in light of various important factors, including those set forth in Sibanye-Stillwater’s 2025 Integrated Report and annual report on Form 20-F filed with the Securities and Exchange Commission (SEC) on 24 April 2026 (SEC File no. 333-234096). These forward-looking statements speak only as of the date of this presentation. Sibanye-Stillwater expressly disclaims any obligation or undertaking to update or revise any forward-looking statement (except to the extent legally required).

Websites

References in this announcement to information on websites (and/or social media sites) are included as an aid to their location and such information is not incorporated in, and does not form part of, this announcement.

Equinox Gold’s global exploration programs are currently active across nine projects, with 45 drill rigs operating across Canada, the United States, Mexico and Nicaragua. The Company has completed approximately 308,000 metres of drilling year-to-date, with 16 rigs operating in Canada, 15 in Mexico and 12 in Nicaragua and two in the United States (increasing to four in the near term). The 2026 global discovery and mineral resource expansion exploration program is supported by a budget of approximately US$155 million and includes approximately 477,000 metres of planned drilling, focused on mineral resource growth, mine-life extension and the advancement of exploration opportunities across the Company’s operating portfolio.

2026 Canada Highlights:

• Musselwhite:Drilling along the mine trend continues to intersect gold mineralization and confirms continuity up to two kilometres beyond current operations, supporting future mineral resource growth and mine-life extension, including:
  • 22.9 m @ 10.00 grams per tonne gold (“g/t Au”) (Mine extension – PQ Extension Zone “PQE”)
  • 20.5 m @ 7.31 g/t Au (Mine extension – PQE)
• Valentine:Drilling continues to expand mineralization along the mine trend, with potential for mineral resource growth, while advancing the new Minotaur discovery, including:
  • 99.4 m @ 0.98 g/t Au (Frank Zone)
  • 27.3 m @ 2.11 g/t Au (Minotaur)
• Greenstone: The first major exploration program since 2020 started in August, targeting underground extensions and near-pit mineral resource growth. Initial drill holes have intersected mineralized intervals in targeted horizons, with assays pending.

Jason Simpson, President of Equinox Gold, commented: “Canada is increasingly becoming the foundation of Equinox Gold’s production and organic growth strategy, with greater than 60% of 2026 gold production from Canadian operations. With three long-life operating mines, significant processing capacity and large, highly prospective, and underexplored land packages, we see substantial opportunity to grow production from assets and infrastructure we already own.

“At Musselwhite, drilling continues to demonstrate high-grade mineralization along the mine trend, up to two kilometres beyond current operations and around the existing mine. Valentine continues to deliver new discoveries and opportunities to grow open-pit mineral resources in what is now being recognized as a new gold district. Greenstone, Equinox Gold’s largest gold production centre, has significant underground and untapped regional exploration potential.

“Our objective is clear. Turn today's results – the extended mine trend at Musselwhite, the new discoveries at Valentine and the underground potential at Greenstone – into mineral resources and mineral reserves, extend mine lives and maximize the value of existing infrastructure, while focusing on disciplined growth and generating long-term shareholder value. We believe our current mine plans capture only part of the long-term growth potential across our Canadian portfolio.”

A LARGE-SCALE CANADIAN GOLD PLATFORM WITH SIGNIFICANT ORGANIC GROWTH POTENTIAL

Equinox Gold’s Canadian operations provide a substantial base of existing production complemented by multiple avenues for organic growth. The addition of Musselwhite provides a third established Canadian production centre and an additional platform for mineral reserve replacement, mineral resource growth and production optimization.

Across the Canadian portfolio, the Company is advancing three complementary exploration programs, with the objectives to:

• Musselwhite: Extend the mine trend, grow and convert high-grade underground mineral resources and identify additional mill feed to maximize utilization of existing processing infrastructure;
• Valentine: Grow mineral resources along the 32-kilometre Valentine Lake Shear Zone and emerging targets while advancing the planned Phase 2 expansion that doubles mill throughput to approximately 5.0 million tonnes per year; and
• Greenstone: Convert higher-grade underground and satellite mineral resources, extend mine life through regional deposits and optimize throughput beyond the current 27,000-tonne-per-day nameplate capacity.

At Musselwhite, drilling results received through the end of July 2026 will be incorporated into a year-end mineral reserve and mineral resource update expected in Q1 2027. The update will include new mineral resources at PQE. Ongoing drilling continues to demonstrate the potential for additional mineral resource growth and future conversion opportunities along the trend through 2027 and 2028. At Valentine, drilling data through July 2026 will be included in the year-end mineral resource and mineral reserve update. At Greenstone, recently started drilling focused on mineral resource growth at depth is targeted to be included in a mineral resource and mineral reserve update at year-end 2027.

MUSSELWHITE – EXTENDING A PROVEN HIGH-GRADE GOLD SYSTEM SHOWING SIGNIFICANT UPSIDE

Musselwhite is a high-grade underground gold mine in Northwestern Ontario that has produced more than six million ounces of gold over nearly 30 years of operation. Exploration at Musselwhite is currently advancing through three parallel programs. The underground drill program is targeting mineral resource and mineral reserve growth and conversion within the Lynx, PQ, West Limb and Redwings zones. The deep directional surface drill program is testing the down-plunge extension of the mine trend, with results demonstrating the continuity of mineralization approximately two kilometres beyond current operations. The near-mine surface drill program is evaluating additional targets within the broader mine corridor, with the objective of identifying new sources of mill feed and further extending the mine life.

The current underground drilling program continues to deliver multiple significant high-grade intersections across all priority areas, including the Lynx, PQ, West Limb and Redwings zones. A total of 36,315 metres has been drilled year-to-date in 2026.

The deep directional surface drilling program is testing the northwest down-plunge extension of the mine trend. The program has demonstrated exceptional continuity of mineralization and confirmed the continuity of two stacked mineralized zones, interpreted as the Lynx and PQE zones, with mineralization remaining open down plunge and both up and down dip on section (see Orla Mining news release dated April 9, 2026). A total of 15,230 metres has been drilled in 2026.              

New 2026 Highlights include:

Underground:

• 9.2 m @ 16.96 g/t Au (Lynx, 26-LNX-056)
• 9.2 m @ 12.39 g/t Au (PQE, 26-PQE-007)
• 1.0 m @ 471.00 g/t Au (PQE, 26-PQE-054)
• 13.2 m @ 9.55 g/t Au (Redwings, 26-RDW-007)

Mine Trend Extension:

• 22.9 m @ 10.00 g/t Au(26-NSD01-008W)
  1. Including:
• 0.6 m @ 37.10 g/t Au
• 0.7 m @ 21.19 g/t Au
• 0.5 m @ 23.74 g/t Au
• 1.4 m @ 43.07 g/t Au
• 12.4 m @ 5.77 g/t Au(26-NSD01-006W)
  1. Including 3.2 m @ 16.25 g/t Au
• 0.9 m @ 288.74 g/t Au (26-NSD02-008W)
• 20.5 m @ 7.31 g/t Au (26-NSD02-009W)
  1. Including 1.2 m @ 21.07 g/t Au 

The combination of high-grade underground results and successful deep directional drilling increases Equinox Gold’s confidence in the opportunity to expand mineral resources and mineral reserves and extend the mine life.

The near-mine surface drill program was completed in September, with 7,940 metres drilled in 2026. New shallow mineralization was intersected at Camp Bay and along the Musselwhite 4 km South-East Trend targets, including 18.9 m @ 2.94 g/t Au (26-CMP-015) and 0.7 m @ 42.22 g/t Au (26-KAZ-002). The 2026 drilling results, combined with a global review and re-modelling of historical near-mine drilling data, have significantly improved the understanding of the near-mine mineral endowment and identified priority mineralized trends for potential testing in 2027. Further work is planned to test the potential for satellite mineralization near existing mine infrastructure, within approximately 10 kilometres of the mill.

Beyond the mine area, Equinox Gold controls a district-scale land package of approximately 65,000 hectares across the North Caribou Greenstone Belt, providing significant opportunities for both near-mine mineral resource growth and regional discovery. The property hosts numerous known mineral occurrences and prospective geological trends, supporting a substantial pipeline of exploration targets. The Company has advanced a regional data compilation, target definition and prioritization to unlock the full potential of this land package.

Figure 1: Musselwhite Long Section – Underground and Deep Directional Highlights. Drilling supports continuity of high-grade mineralization along the mine trend for approximately two kilometers beyond current operations.

Figure 2: Plan View Musselwhite Regional Compilation. Land package spans 65,000 hectares across the North Caribou Greenstone Belt, with a pipeline of regional and near-mine targets identified for follow-up.

Figure 3: Plan View Musselwhite Near-Mine Highlights. Drilling has intersected shallow gold mineralization at Camp Bay and along the Musselwhite South-East Trend targets.

VALENTINE – BUILDING A NEW GOLD DISTRICT

Exploration at the Valentine Gold Mine continues to identify mineralization along the Valentine Lake Shear Zone (“VLSZ”), also referred to as the mine trend. Mineralization is currently defined along approximately 15 kilometres of strike, with drilling having tested the system to an average vertical depth of 300 to 500 metres, highlighting significant potential to expand mineralization both laterally and at depth. The newly identified Minotaur Zone (see Equinox Gold news release dated February 2, 2026) opens a distinct, new area of exploration potential, reinforcing the broader district-scale upside. The 2026 exploration program is focused approximately two-thirds on the mine trend and one-third on regional targets, including Minotaur. Mineral resource growth targets include infill and expansion drilling at the Frank Zone, located southwest of the Leprechaun open pit, with an initial mineral resource estimate for Frank planned in the near future. A total of 50,560 metres of development drilling and 18,330 metres of generative/regional drilling has been completed year to date.

Results from the Leprechaun, Marathon, Frank and Banshee zones continue to demonstrate the potential for mineral resource growth along the mine trend. Recent drilling has improved confidence in mineralization within and adjacent to the current pit designs, while also extending mineralization beyond existing mineral resource boundaries. Ongoing drilling at Frank and Banshee is focused on mineral resource definition and expansion, with deeper drilling planned to evaluate the potential for mineralization below the current pit limits.

The Minotaur discovery located approximately eight kilometres northwest of the Valentine Mill, continues to demonstrate significant exploration potential. Drilling completed in 2026 has expanded the known footprint of mineralization, extending the strike length of the original discovery zone to more than one kilometre and identifying additional mineralization beyond the area previously reported. Drilling has also outlined a broader zone of deformation and mineralization extending over two kilometres in length and one kilometre in width, with mineralization remaining open in all directions. Geological interpretation at Minotaur is ongoing, with the geometry, controls and continuity of mineralization still being defined as new exploration data are integrated.

The 2026 drill highlights presented below demonstrate both the in-pit and along-strike mineral resource expansion potential across the VLSZ, as well as the early-stage promising results from Minotaur:

• 44.0 m @ 3.57 g/t Au(BN-26-005, Banshee Zone, immediately southwest of the Marathon Pit)
  1. Including 1.6 m @ 23.38 g/t Au and 5.0 m @ 16.65 g/t Au
• 164.0 m @ 2.55 g/t Au (MA-24-489, Marathon pit, northeast side)
• Including 22.0 m @ 7.28 g/t Au and 2.0 m @ 19.96 g/t Au
• 126.0 m @ 2.15 g/t (LP-24-001, Leprechaun Pit)
• Including 28.0 m @ 4.99 g/t Au
• 22.0 m @ 4.00 g/t Au (FZ-26-168, Frank Zone, proximal to Leprechaun Pit)
• Including 6.1 m @ 10.25 g/t Au
• 33.2 m @ 1.57 g/t Au (MT-26-029, Minotaur)
• Including 0.9 m @ 31.21 g/t Au and 2.1 m @ 8.49 g/t Au

With less than 20% of the 327 km² land package explored to date, opportunities for additional mineral resource growth and new discoveries are substantial.

Continued exploration success has the potential not only to extend the mine life but also to enhance the long-term value and utilization of an expanded Valentine processing facility. The planned Valentine Phase 2 expansion is expected to double processing capacity to 5.0 million tonnes per year. Following completion of Phase 2, the Valentine Report (as defined below) estimates Valentine is expected to average approximately 223,000 ounces of gold production annually over the subsequent ten years (see Equinox Gold news release dated March 30, 2026).

Figure 4: Plan Map Valentine Gold Mine. Drilling highlights along the mine trend demonstrate continued mineral resource growth and extension potential, while the Minotaur discovery to the north highlights the potential for broader district-scale opportunities. 
 

Figure 5: Valentine Long Section. Drilling supports mineral resource growth potential both along strike and at depth across the Frank and Minotaur zones.

GREENSTONE – SIGNIFICANT UNDERGROUND AND REGIONAL OPTIONALITY

Greenstone is Equinox Gold’s largest Canadian production centre and is underpinned by a significant open-pit mineral reserve, higher-grade underground mineral resources not included in the current mine plan, and an extensive regional land position covering much of the Beardmore-Geraldton Greenstone Belt.

The 2026 exploration program commenced on August 14 and is expected to ramp up to four drill rigs by October. The program is focused on three priority target areas:

• Underground Extension: Testing opportunities to expand and convert higher-grade underground mineral resources (planned 16,800 metres);
• North Pit Wall: Targeting mineral resource and mineral reserve growth adjacent to the existing open pit (planned 5,040 metres); and
• South Porphyry: Targeting mineral resource growth along the south wall of the open pit (planned 2,520 metres).

The broader Greenstone land package provides considerable additional exploration potential. Equinox Gold controls a significant portion of the Beardmore-Geraldton Greenstone Belt, which hosts numerous deposits, prospects and historical gold mines. Eight past-producing mines across the property historically produced, in aggregate, two million ounces of gold at grades greater than 15 g/t Au, with limited modern exploration. A regional data compilation and targeting initiative is underway to identify and prioritize opportunities across the broader land package.

Figure 6: Plan Map Greenstone Regional Compilation. Regional land position covers much of the Beardmore-Geraldton Greenstone Belt, host to eight past-producing mines with two million ounces of historical production at gold grades above 15 g/t Au.

EXPLORATION: LEVERAGING EXISTING INFRASTRUCTURE TO CREATE LONG-TERM VALUE

Equinox Gold believes the combination of established operations, significant processing infrastructure and large prospective land packages differentiates its Canadian exploration portfolio.

At Musselwhite, the Company sees the opportunity to continue extending a high-grade system that has already supported nearly 30 years of mining and to identify sufficient additional inventory to maximize the use of existing excess mill capacity.

At Valentine, the opportunity is to systematically explore a 32-kilometre mineralized trend and surrounding geological structures while expanding processing capacity to approximately 5.0 million tonnes per year.

At Greenstone, the opportunity is to complement the large open-pit operation with higher-grade underground mineral resources and regional deposits while pursuing opportunities to increase throughput beyond current nameplate capacity.

2027 Exploration Outlook

Equinox Gold plans to maintain substantial exploration efforts across its three Canadian assets and broader portfolio of assets in the United States, Mexico and Nicaragua, with a focus on creating value through exploration. The programs are designed to grow mineral resources and replace mineral reserves, extend mine lives, make new discoveries and create additional optionality at both operating and development-stage assets, supporting long-term production growth and maximizing the value of the Company’s portfolio.

Additional Technical Information  

All mineralized interval lengths reported are down-hole intervals, with true width estimates ranging from 30-100% for the reported interval. See Tables 1 to 6 of this news release for estimated true widths of individual composites. True widths are not estimated in cases where there is insufficient geological control on gold mineralization.   A minimum sampling length of 0.30 m is used for both underground and surface drilling. The reported composites were not subject to “capping” of high grades. Equinox Gold believes that applying a top cut would have a negligible effect on overall grades. Visual observations of drill core at Greenstone are not a reliable proxy for gold grade, and the presence, nature and extent of mineralization remain unconfirmed until laboratory assay results are received.

Quality Assurance/Quality Control

Quality Assurance/Quality Control (“QA/QC”) protocols followed at Valentine include the insertion of blanks and standards at regular intervals in each sample batch. Drill core is cut in half with one half retained at site and the other half tagged and sent to MSALabs in Grand Falls-Windsor, NL or in Timmins, ON. MSALabs is independent of Equinox Gold. All reported core samples are analyzed for gold by fire assay (prior to April 2026) using a 30g aliquot with atomic absorption finish or PhotonAssay^TM (from April 2026 onward), using a 500g crushed sample. All samples above 0.30 g/t Au and those in economically interesting intervals are further assayed via metallic screen technique. There are no known drilling, sampling, recovery, or other factors that could materially affect the accuracy, reliability or results from the Valentine drill program.  Additional information regarding the Company’s data verification processes at Valentine is set out in the Company’s NI 43-101 technical report for the project entitled “NI 43-101 Technical Report – Valentine Gold Mine, Newfoundland and Labrador, Canada” with an effective date of December 31, 2025 (the “Valentine Report”), which can be found on the Company’s website at www.equinoxgold.com and on Equinox Gold’s profile on SEDAR+ at www.sedarplus.ca,  for additional information.

Gold assay results at Musselwhite were obtained at ALS Canada Inc. (“ALS”) or SGS Canada Inc. (“SGS”) using fire assay fusion and an atomic absorption spectroscopy finish (ALS: Au-AA23, SGS: GE_FAA30V5). If samples returned gold values greater than 10 ppm, samples are re-run with gold by fire assay and gravimetric finish (ALS: Au-GRA21, SGS: GO_FAG30V). Gold results were also obtained at ALS using PhotonAssay^TM on two aliquots of 500g of crushed sample (ALS: Au-PA01). For Fire Assay analyses, standards were inserted at a frequency of four in every 100 samples, and blanks were inserted at a frequency of four in every 100 samples.

ALS and SGS are both independent of Equinox Gold. ALS is an ISO-17025 accredited laboratory for PhotonAssay^TM methods. There are no known drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the drilling data at Musselwhite.

For additional information on Musselwhite, see the Musselwhite Report (as defined below) and Orla Mining Ltd.’s (“Orla”) press releases dated April 9, 2026, December 18, 2025, October 6, 2025 and April 1, 2025.

Historical drilling programs at Musselwhite were completed by Goldcorp. Inc. (“Goldcorp”) and/or Newmont Corporation (“Newmont”), the prior owners of the project. The Company’s independent qualified person for the Musselwhite Report was of the opinion that the drilling and sampling procedures for Musselwhite drill samples by Goldcorp and Newmont were reasonable and adequate for the purposes of the Musselwhite Report, and that the Goldcorp and Newmont QA/QC program met or exceeded industry standards. See the Company’s NI 43-101 technical report for the project entitled “Technical Report – Musselwhite Mine, Ontario, Canada” with an effective date of November 18, 2024 (the “Musselwhite Report”), which can be found on the Company’s website at www.equinoxgold.com and on Orla’s profile on SEDAR+ at www.sedarplus.ca, for additional information.

Qualified Person and Technical Information

The scientific and technical information contained in this news release was approved by Sylvain Guérard Executive Vice President Exploration for Equinox Gold who is a “Qualified Person” under National Instrument 43-101.

To verify information related to the 2026 drilling programs at both Musselwhite and Valentine, Mr. Guérard visited both properties during 2026 and discussed logging, sampling and sample shipping processes with responsible site personnel; discussed and reviewed assay and QA/QC results with responsible personnel; and reviewed supporting documentation, including drill hole locations and orientations and significant assay interval calculations.

About Equinox Gold

Equinox Gold (TSX: EQX, NYSE-A: EQX) is a Canadian mining company positioned as the new North American senior gold producer with a strong foundation of high-quality, long-life gold operations in Canada and across the Americas, and a pipeline of development and expansion projects. Guided by a seasoned leadership team with broad expertise, the Company is focused on disciplined execution, operational excellence and long-term value creation. Equinox Gold offers investors exposure to a diversified portfolio of gold operations, and clear path to growth. Learn more at www.equinoxgold.com or contact ir@equinoxgold.com.

Equinox Gold Contacts

Etienne Morin, Chief Capital Markets Officer

Ingrid Rico, SVP Capital Markets

E: ir@equinoxgold.com

T: +1 604.260.0516

In Europe

Swiss Resource Capital AG

Marc Ollinger

info@resource-capital.ch

www.resource-capital.ch

Cautionary Notes & Forward-Looking Statements

This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation and may include future-oriented financial information or financial outlook information (collectively “Forward-looking Information”). Actual results of operations and the ensuing financial results may vary materially from the amounts set out in any Forward-looking Information. Forward-looking Information in this news release relates to, among other things, statements regarding: the strategic vision for the Company, exploration potential of the Company’s properties, future exploration activities, objectives and expected results of exploration activities, production capabilities and optimization activities, growth potential, mineral resource growth and conversion, mineral reserve replacement, potential mine life extension, expansion projects, estimated future production and future financial or operating performance, including exploration upside, future mining opportunities and future mineral resource and mineral reserve estimates, including the expected timing thereof. Forward-looking Information is generally identified using words like “will”, “potential”, “growth”, “future”, “continues”, “target”, “expect”, “increase”, and similar expressions and phrases or statements that certain actions, events or results “may”, “could”, or “should”, or the negative connotation of such terms, are intended to identify Forward-looking Information. Although the Company believes that the expectations reflected in such Forward-looking Information are reasonable, undue reliance should not be placed on Forward-looking Information since the Company can give no assurance that such expectations will prove to be correct. The Company has based Forward-looking Information on the Company’s current expectations and projections about future events and these assumptions include: Equinox Gold’s ability to achieve the exploration, production, cost and development expectations for its respective operations and projects; prices for gold remaining as estimated; availability of funds for the Company’s projects and future cash requirements; the Company’s ability to maintain and obtain all necessary permits, licenses and regulatory approvals in a timely manner or at all; no unexpected geological formations or environmental hazards are encountered; tonnage of ore to be mined and processed and ore grades and recoveries remaining consistent with mine plans. While the Company considers these assumptions to be reasonable, they may prove to be incorrect.

 Forward-looking Information involves numerous risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such Forward-looking Information. Such factors include certain risks and uncertainties described in the section “Risk Factors” in Equinox Gold’s Management Information Circular dated June 19, 2026, and in the section “Risks Related to the Business” in Equinox Gold’s most recently filed Annual Information Form, each of which is available on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov/edgar. Forward-looking Information reflects management’s current expectations for future events and is subject to change. Except as required by applicable law, the Company assumes no obligation to update or to publicly announce the results of any change to any Forward-looking Information contained or incorporated by reference to reflect actual results, future events or developments, changes in assumptions or other factors affecting Forward-looking Information. If the Company updates any Forward-looking Information, no inference should be drawn that the Company will make additional updates with respect to those or other Forward-looking Information. All Forward-looking Information contained in this news release is expressly qualified by this cautionary statement.

Concurrently with the closing of the Offering, the Company also issued an aggregate of 4,000,000 Shares on a non-brokered private placement basis at a price of $2.00 per Share, to raise additional gross proceeds of $8,000,000 (the “Concurrent Offering”).

Tara Christie, President and CEO of Banyan, commented: "We are very pleased to welcome Franco-Nevada as a new shareholder of Banyan and thank all of our existing and new shareholders for their strong support. This financing strengthens Banyan’s financial position, allowing us to rapidly advance AurMac and Nitra through 2028, including drilling, engineering and permitting what is one of Canada’s largest gold deposits."

The net proceeds from the sale of the Shares pursuant to the Offering and Concurrent Offering will be used for advancement of the Company’s Yukon projects and general corporate and working capital purposes.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”), the Shares issued pursuant to the Offering were offered for sale to purchasers resident in Canada and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 as amended and supplemented by Coordinated Blanket Order 45-935 Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. Accordingly, the Shares sold pursuant to the Offering are not subject to a hold period pursuant to applicable Canadian securities laws. The Shares sold pursuant to the Concurrent Offering are subject to a statutory hold period expiring January 30, 2027, pursuant to applicable Canadian securities laws.  The Offering and Concurrent Offering remain subject to the final approval of the TSX Venture Exchange.

Insiders of the Company have purchased, directly or indirectly, an aggregate of 250,000 Shares pursuant to the Concurrent Offering, as a result of which the Concurrent Offering is a “related party transaction” under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to the exemptions contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the Concurrent Offering, insofar as it involves the related parties, exceeded 25% of the Company’s market capitalization (as determined under MI 61-101).

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. persons unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available. “United States” and “U.S. person” have the meaning ascribed to them in Regulation S under the 1933 Act. 

About Banyan

Banyan’s primary asset, the AurMac Project is located in the Traditional Territory of the First Nation of Na-Cho Nyäk Dun in Canada’s Yukon Territory.   The AurMac Project comprises two main deposits, the Airstrip and Powerline Deposits. 

In addition to the AurMac Project, the Company holds the Hyland Gold Project, located 70 km northeast of Watson Lake, Yukon, along the southeast end of the Tintina Gold Belt in the Traditional Territory of the Kaska Nations, closest to the Liard First Nation and Daylu Dena Council.

Banyan also holds the Nitra Gold Project and Seattle-Goodman Creek Project which are grassroots exploration projects located in the Mayo Mining district, adjacent to the AurMac Gold Project. These properties lie in the northern part of the Selwyn Basin and are underlain by metaclastic rocks of the Late Proterozoic Yusezyu Formation of the Hyland Group, similar to lithologies hosting portions of the AurMac Project. Middle Cretaceous Tombstone Plutonic suite intrusions occur along the properties including the Morrison Creek and Minto Creek stocks. The properties are 100% owned by Banyan and cover over 530 sq km. The properties are accessible by road along the Silver Trail Highway, South McQuesten Road and a network of other smaller roads across the properties.

Banyan trades on the TSX Venture Exchange under the symbol “BYN” and is quoted on the OTCQB Venture Market under the symbol “BYAGF”. For more information, please visit the corporate website at www.banyangold.com or contact the Company.

ON BEHALF OF BANYAN GOLD CORPORATION

(signed) “Tara Christie”

Tara Christie

President & CEO

For more information, please contact:

Tara Christie • 778 928 0556 • tchristie@banyangold.com

Jasmine Sangria • 604 312 5610 • jsangria@banyangold.com

In Europe

Swiss Resource Capital AG

Marc Ollinger

info@resource-capital.ch

www.resource-capital.ch

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

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

FORWARD LOOKING INFORMATION: This release contains forward-looking information, which is not comprised of historical facts and is based upon the Company’s current internal expectations, estimates, projections, assumptions and beliefs. Such information can generally be identified by the use of forward-looking wording such as “may”, “will”, “expect”, “estimate”, “anticipate”, “intend(s)”, “believe”, “potential” and “continue” or the negative thereof or similar variations. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the receipt of final regulatory approvals of the Offering and Concurrent Offering and use of proceeds to be raised pursuant thereto, the potential for resource expansion and increased grades; mineral recoveries and anticipated mining costs. Factors that could cause actual results to differ materially from such forward-looking information include uncertainties inherent in resource estimates, continuity and extent of mineralization, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, availability of financing, receipt of regulatory approvals, and the other risks involved in the mineral exploration and development industry, enhanced risks inherent to conducting business in any jurisdiction, and those risks set out in Banyan’s public documents filed on SEDAR+. Although Banyan believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Banyan disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Not for distribution to United States newswire services or for dissemination in the United States

• Fourth Quarter Production Up 157%, Total Cost per Pound⁽²⁾ Down 33%: Combined production from Christensen Ranch and Burke Hollow in the fourth quarter totaled 82,744 pounds of precipitated uranium and dried and drummed U₃O₈, up from 32,195 pounds in the third quarter, at a Total Cash Cost per Pound⁽²⁾ of $30.01 and a Total Cost per Pound of $36.54.
• Production Doubled at Christensen Ranch, Total Cost per Pound Down 35%: Fourth quarter production at Christensen Ranch doubled to 65,392 pounds of precipitated uranium and dried and drummed U₃O₈ at a Total Cash Cost per Pound of $28.38 and a Total Cost per Pound of $35.63, down from $46.69 and $54.61, respectively, in the third quarter.
• Commenced Production at Burke Hollow, Ramp-Up Underway: In its first full quarter of operation, Burke Hollow produced 17,352 pounds of precipitated uranium and dried and drummed U₃O₈ at a Total Cash Cost per Pound of $36.13 and a Total Cost per Pound of $39.93. As planned, this initial phase was limited to a small section of the first production area to establish key operating parameters ahead of expansion across the full wellfield.
• First Full Year of Production at a Total Cash Cost of $34.24 and Total Cost of $39.94 per Pound: Fiscal 2026 production totaled 229,294 pounds of precipitated uranium and dried and drummed U₃O₈, with 359,260 pounds produced since commissioning through the end of the fiscal year.
• Growing U.S. Government Demand for Unobligated U.S.-Origin Uranium: In response to a Request for Information (“RFI”) from the National Nuclear Security Administration (“NNSA”), which outlined a need for 4 million pounds per year of unobligated U.S.-origin uranium with deliveries as soon as 2030, UEC affirmed its capability to fully support that requirement. Adding to that demand, the U.S. Army plans to deploy more than 20 microreactors requiring unobligated U.S.-origin uranium.
• United States Uranium Refining & Conversion Corp (“UR&C”) Advances Toward a Class IV Cost Estimate: Working with its engineering partner Fluor Enterprises, Inc. (“Fluor”), UR&C completed core execution plans, built a combined dedicated 63-member project team, began preparing its U.S. Nuclear Regulatory Commission license application and progressed site selection. The Class IV cost estimate is expected to be completed by mid-2027.
• Wellfield Construction Underway at Ludeman, UEC’s Next In-Situ Recovery (“ISR”) Mine: Installation of the monitoring, injection and recovery wells in the initial wellfield is underway. Engineering for the satellite ion-exchange plant has progressed with the procurement of long lead-time equipment.
• Advancing Wellfield Development at Sweetwater, UEC’s Third Hub-and-Spoke: Drilling in Sweetwater North identified mineralization trends that support further delineation and advance the first two production areas.
• Roughrider Drilling Completed: 36,000 meters of core drilling was completed during the quarter to support resource conversion and the planned pre-feasibility study (“PFS”) for the world class Roughrider Project located in the Athabasca Basin of Saskatchewan, Canada. 

Fiscal 2026 Financial Highlights 

• Peer Leading Realized Sales Price: Sold 400,000 pounds from inventory at a weighted average realized price of $93.13 per pound, which the Company believes to be the highest among publicly traded uranium producers, generating revenue of $37.3 million and gross profit of $16.9 million for fiscal 2026.
• Robust Balance Sheet: $753 million in liquid assets⁽¹⁾, including cash of $495 million, with no debt.
• Strategic Inventory Position in a Tightening Market: 1,256,000 pounds of U₃O₈ as of July 31, 2026, valued at $109 million at current market prices⁽¹⁾, excluding 359,260 pounds of precipitated uranium and dried and drummed U₃O₈ at the Irigaray Central Processing Plant (“CPP”) and Hobson CPP. 

Corpus Christi, TX, September 29, 2026 – Uranium Energy Corp (NYSE American: UEC) (the “Company” or “UEC”) - https://www.commodity-tv.com/ondemand/companies/profil/uranium-energy-corp/ - is pleased to announce that it has filed its Annual Report on Form 10-K for the fiscal year ended July 31, 2026. 

Amir Adnani, President and CEO, stated: 

“In fiscal 2026, UEC became a multi-mine uranium producer. Twelve months ago, we were producing from a single mine in Wyoming. Today, we are producing from two mines in two states, are well along the way in building a third at Ludeman, have grown our operating team to more than 250 people and have doubled drilling capacity. We started production at Burke Hollow, the largest greenfield in-situ recovery mine to come online in the United States in over a decade, and expanded wellfield infrastructure at Christensen Ranch. This growth is underpinned by the largest uranium resource base in the country, providing depth and a long duration runway to keep scaling.

Our unhedged sales strategy delivered a weighted average realized price of $93.13 per pound, which we believe is the highest among publicly traded uranium producers. Consistent with our strategy over many quarters, we continue to hold most of our inventory, and that approach is being rewarded as the market tightens. 

Through UR&C, we are building America's only vertically integrated uranium company, from mining and processing to refining and conversion. The U.S. Government’s growing demand for unobligated U.S.-origin uranium and conversion confirms why we set out to build it: those needs can only be met by U.S. mines, U.S. technology and U.S. conversion.

We enter fiscal 2027 debt-free with an exceptional balance sheet and the ability to fund our ongoing growth. With this unparalleled combination of resource depth, financial strength and talent, UEC has never been better positioned to build on and extend its leadership position in the United States.”

Growing U.S. Government Demand for Unobligated U.S.-Origin Uranium and Conversion

The U.S. Department of Energy through the NNSA issued a RFI to ascertain domestic company capabilities to supply unobligated U.S.-origin uranium and conversion services in support of NNSA needs through the 2040s. The RFI outlined NNSA requirements for unobligated U.S.-origin uranium at 4 million pounds of U₃O₈ / 1,500 metric tonnes of uranium as UF₆ per year with deliveries commencing as early as 2030.

UEC's response to the RFI affirmed that we are positioned to fully support NNSA’s U₃O₈ requirements as our production in Texas and Wyoming ramps up. Through UEC's subsidiary, UR&C, we are positioning to provide the necessary conversion services in accordance with NNSA requirements, further demonstrating UEC's commitment to serve as America's national champion for the front end of the nuclear fuel cycle.

On August 26, 2026, the Department of the Army announced the selection of five nuclear reactor developers to be awarded up to a combined $2.2 billion to own, construct and operate nuclear microreactors on five military installations. The Army anticipated more than 20 microreactors to be deployed through the Janus Program with all requiring unobligated U.S.-origin uranium and conversion services.

The growing U.S. Government demand for unobligated U.S.-origin uranium and conversion services highlights UEC’s distinct positioning as a leading domestic supplier and the only company pursuing a vertically integrated fuel cycle solution.

United States Uranium Refining & Conversion Corp (UR&C)

During fiscal 2026, UR&C advanced its planned uranium conversion facility across technology development, licensing and project execution, working with its engineering partner Fluor. UR&C’s combined dedicated 63-member project team draws on Fluor’s nuclear-focused Mission Solutions business subject matter experts, including specialists in process technology, nuclear and environmental engineering and project delivery. Project mobilization was completed in full compliance with U.S. Department of Energy export control regulations for nuclear technology. UR&C is advancing toward a Class IV cost estimate, which is expected to be completed by mid-2027.

Following receipt of its U.S. Nuclear Regulatory Commission Docket Number earlier this year, UR&C finalized its regulatory engagement strategy and began preparing its license application, supported by Jensen Hughes, a specialist nuclear licensing firm engaged for the project.

UR&C and Fluor expanded collaboration with leading equipment vendors, National Laboratories and specialty subcontractors to accelerate process design and laboratory work, including evaluation of process technology and thermophysical properties. UR&C is also pursuing partnerships with National Laboratories and academic institutions to enhance technical development, drawing on industry expertise and historical operating knowledge.

The goal is to position UR&C’s conversion process as a U.S. technology, eligible for delivering unobligated U.S.-origin UF₆ supply for the requirements of the U.S. Government. To that end, to safeguard export-controlled information, UR&C’s project team has implemented a Technology Control Plan and completed comprehensive training.

Powder River Basin, Wyoming, Hub-and-Spoke ISR Operations 

Hub: Irigaray CPP; Spokes: Christensen Ranch and Ludeman

In the fourth quarter, 65,392 pounds of precipitated uranium and dried and drummed U₃O₈ were produced at Christensen Ranch at a Total Cash Cost per Pound of $28.38 and a Total Cost per Pound of $35.63. Higher production reduced Total Cost per Pound by 35%, from $54.61 in the prior quarter. 

As previously reported, three new header houses in Wellfield 11 began production late in the third fiscal quarter. Four additional header houses were constructed and tested as of the end of the fourth fiscal quarter, bringing the total to five that were awaiting regulatory approval for startup at such time. On September 28, 2026, final regulatory approvals were issued for four of these. Production is expected to commence at these newly approved header houses in the coming weeks. 

Currently, three additional header houses are under construction. Header house construction has been bolstered by an increase in drilling capacity, with 17 drill rigs in operation in the Powder River Basin at fiscal year-end, up from 12 in the prior year.

At the Ludeman ISR project in the Powder River Basin, monitor, injection and recovery wells for the first wellfield are under construction and being tested for mechanical integrity. 

Engineering for the satellite ion-exchange plant was significantly advanced during the fourth quarter, allowing the Company to procure long lead-time equipment. Civil engineering for the plant pad was completed, and a construction contractor was selected. The powerline location has been established, and surveys are expected to be completed in the first quarter of fiscal 2027.  

South Texas Hub-and-Spoke ISR Operations

Hub: Hobson CPP; Spoke: Burke Hollow

Operations began at the Burke Hollow ISR mine in April and at the Hobson CPP in May. In its first full quarter of operation, Burke Hollow produced 17,352 pounds of precipitated uranium and dried and drummed U₃O₈ at a Total Cash Cost per Pound of $36.13 and a Total Cost per Pound of $39.93. 

The first shipment of uranium-loaded resin from Burke Hollow reached Hobson in mid-May, and every processing step at the plant, from resin transfer and elution through precipitation, drying and packaging, has now been commissioned.

As planned, production activity in the quarter was limited to a small section of the first production area at Burke Hollow, consisting of 126 injection and recovery wells that were brought online to establish optimal operating parameters, such as lixiviant chemistry, pump sizing and wellfield patterns. These results will guide the next phase of operations as mining in the first production area expands. 

The Company had 21 drill rigs in operation in South Texas at fiscal year-end, up from 8 in the prior year.

Sweetwater, Wyoming, Hub-and-Spoke Development

At Sweetwater, the FAST-41 and National Environmental Policy Act federal permitting process continued to advance under the leadership of the Bureau of Land Management ("BLM"). Currently, the FAST-41 Permitting Dashboard expects completion of the Environmental Assessment (“EA”) in March 2027 and approval of the Plan of Operations in May 2027. Baseline studies were largely completed in the quarter, with final reports expected to be submitted to BLM in the first quarter of fiscal 2027.

Drilling in the Sweetwater North area identified mineralization trends that support continued delineation. Building on these results, additional drilling is planned for the first quarter of fiscal 2027 to further extend the mineralization identified in the initial program and to advance wellfield design for the first two production areas.

Work continues by the Company and Wood Group to assess the refurbishment requirements for the Sweetwater Mill for both conventional and ISR operations, with focus currently on the installation of ion-exchange and elution systems for ISR operations.

The Company had two drill rigs in operation in the Great Divide Basin at the end of the fiscal year.

Roughrider Project, Saskatchewan

As part of the planned PFS at the Roughrider Project, the Company completed its previously announced diamond drilling program, which has expanded to 36,000 meters, with the goal of converting resources into higher categories. This included resource targets throughout the West Zone, East Zone and Far East Zone. Working alongside Tetra Tech Canada Inc., the preparation of the PFS is progressing. 

During the quarter, the geotechnical drilling for a future tailings management facility was completed. This included the collection of water samples and the installation of water level monitoring stations.  

In August 2026, the Company entered into a Definition Study Agreement with Saskatchewan Power Corporation to advance engineering, EA and community engagement work specifically for the connection of a high-voltage transmission line to the Roughrider Project. 

Conference Call Details

A conference call will be held at 11:00 a.m. ET (8:00 a.m. PT) on Tuesday, September 29, 2026, to discuss the Company's results, upcoming catalysts and current market conditions. To participate, please use one of the following methods:

Webinar: Click Here

North America (toll-free): 1-877-270-2148

International: 1-412-902-6510

An accompanying presentation will be available on UEC’s website at www.uraniumenergy.com and a replay of the event will be available following the presentation.

For further information, please refer to the Company’s Annual Report on Form 10-K for the fiscal year ended July 31, 2026, which includes the Company’s audited consolidated financial statements and management’s discussion and analysis, and is available on the Company's website at www.uraniumenergy.com and under its profile at www.sec.gov.

Notes:

1. As of July 31, 2026. Liquid assets consist of cash and equity securities and uranium inventories based on market values and does not include in-process inventory and uranium concentrates from extraction at the Irigaray CPP and Hobson CPP. Market values for securities are based on applicable closing prices on July 31, 2026 and uranium inventories are based on the spot price quoted from UxC at ConverDyn on such date.
2. Total Cost per Pound and Total Cash Cost per Pound are not measures of financial performance under accounting principles generally accepted in the United States ("GAAP") and should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. See “Non-GAAP Measures” below.

About Uranium Energy Corp

Uranium Energy Corp is America’s largest and fastest growing uranium company. The Company controls the largest uranium resource base and the most licensed production capacity in the United States, totaling approximately 12 million pounds per year across its Wyoming and South Texas platforms. In Canada, the Company controls one of the most extensive land and resource portfolios in the Athabasca Basin, anchored by the Roughrider Project in Saskatchewan. Through its wholly owned subsidiary, United States Uranium Refining & Conversion Corp, UEC is pursuing domestic refining and conversion capabilities to further strengthen the U.S. nuclear fuel supply chain. UEC maintains a 100% unhedged uranium strategy, providing full exposure to uranium market fundamentals. The Company is managed by professionals with decades of experience across uranium exploration, development, production and fuel cycle infrastructure.

 Contact Uranium Energy Corp Investor Relations at:

Toll Free: (866) 748-1030

Fax: (361) 888-5041

E-mail: info@uraniumenergy.com

In Europe

Swiss Resource Capital AG

Marc Ollinger

info@resource-capital.ch

www.resource-capital.ch

Stock Exchange Information:NYSE American: UECWKN: A0JDRR

ISIN: US9168961038

 Non-GAAP Measures  

This news release includes reference to "Total Cost per Pound", “Total Cash Cost per Pound”, “Total Non-Cash per Pound” and "Production‑Based Royalties, Ad Valorem and Severance Tax per Pound", which do not have standardized meanings under GAAP. We define: (i) Total Cost per Pound as the addition to in-process inventory and uranium concentrates from extraction (each a component of inventories on the consolidated balance sheets) for the applicable period divided by the quantity (in pounds) of precipitated uranium and dried and drummed U₃O₈ produced in such period; (ii) Total Cash Cost per Pound as the addition to in-process inventory and uranium concentrates from extraction (each a component of inventories on the consolidated balance sheets), excluding depreciation, depletion and amortization, for the applicable period divided by the quantity (in pounds) of precipitated uranium and dried and drummed U₃O₈ produced in such period; (iii) Total Non-Cash Cost per Pound as the difference between Total Cost per Pound and Total Cash Cost per Pound; and (iv) Production‑Based Royalties, Ad Valorem and Severance Tax per Pound (a component of Total Cash Cost per Pound) as the production‑based royalties, ad valorem and severance tax accrued for the applicable period divided by the quantity (in pounds) of precipitated uranium and dried and drummed U₃O₈ produced in such period. Production‑Based Royalties, Ad Valorem and Severance Tax per Pound does not include royalties on sales, which will be recognized as part of cost of sales in future periods when the uranium concentrates are sold. We believe that, in addition to conventional measures prepared in accordance with GAAP, certain investors and other stakeholders also use this information to evaluate our operating and financial performance. The use of these performance measures is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Our definition of these measures may differ from other mining companies and therefore, may not be comparable. These non-GAAP measures should be read in conjunction with our consolidated financial statements for the applicable periods.

Christensen Ranch / Irigaray CPP

 Burke Hollow / Hobson CPP 

    Combined Total Production 

  Cautionary Statement Regarding Forward-Looking Statements

This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Where a forward-looking statement expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. Forward-looking statements often address our expected future business and financial performance and financial condition; and often contain words such as “anticipate,” “intend,” “plan,” “will,” “would,” “estimate,” “expect,” “believe,” "pending" or “potential.” Forward-looking statements in this news release include, without limitation, statements regarding: the Company’s expectations for its projects, including proposed studies, anticipated regulatory approvals and planned development and ramp-up activities; expectations regarding uranium markets and demand; the proposed PFS at Roughrider; the Company’s plans and goals respecting UR&C and the proposed development of refining and conversion capabilities; and the impacts of governmental initiatives on the Company. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors, which could cause actual results to differ materially. These risks and uncertainties may include, among others: proposed exploration and development activities may not be completed or, if completed, may not produce anticipated results; variations in the underlying assumptions associated with the estimation or realization of mineral resources; the availability of necessary capital; accidents, labor disputes and other risks of the mining industry including, without limitation, those associated with the environment, delays or failure in obtaining governmental approvals or permits, title disputes or claims limitations; any deterioration in political support for nuclear energy or uranium mining; changes in government regulations and policies; changes in demand for nuclear power; weather and other natural phenomena; and the other risk factors set forth in the Company’s most recent annual report on Form 10-K and its other filings with the Securities and Exchange Commission, available under its profile at www.sec.gov. These factors are beyond the Company’s ability to control or predict. There can be no assurance that the Company’s forward-looking statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release. Any forward-looking statement speaks only as of the date on which it’s made and the Company does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events, except as required under applicable securities laws. Investors should not assume that any lack of update to a previously issued forward-looking statement constitutes a reaffirmation of that statement.

Sibanye-Stillwater’s primary listing on the JSE Limited, secondary listing of American depositary shares on the New York Stock Exchange, and its issued share capital will be unaffected by the secondary listing on A2X.

The secondary listing on A2X is expected to provide investors with greater access to Sibanye-Stillwater’s ordinary shares through an additional regulated trading platform, enhancing shareholder choice and supporting liquidity in the Company’s shares.

Sibanye-Stillwater’s ordinary shares will be available to be traded on A2X from the A2X listing date.

A2X is a licensed stock exchange authorised to provide a secondary listing venue for companies and is regulated by the South African Financial Sector Conduct Authority and the Prudential Authority of the Reserve Bank in terms of the Financial Markets Act 19 of 2012, as amended.

About Sibanye-Stillwater 

Sibanye-Stillwater is a global mining and metals processing group with a diverse portfolio of operations, projects and investments across five continents. The Group is also one of the foremost global recyclers of a suite of metals and has interests in leading secondary mining operations.

Sibanye-Stillwater is one of the largest producers and refiners of platinum group metals (PGMs: platinum, palladium, rhodium, iridium and ruthenium) and is a top-tier gold producer. It also produces nickel, chrome, copper, silver, cobalt and zinc. The Group has also diversified into mining and processing battery metals and has increased its presence in the circular economy by expanding its recycling and secondary-mining exposure globally. For more information, see www.sibanyestillwater.com. 

Investor relations contact:

Email: ir@sibanyestillwater.com

Website: www.sibanyestillwater.com

LinkedIn: https://www.linkedin.com/company/sibanye-stillwater  

Facebook: https://www.facebook.com/SibanyeStillwater       

YouTube: https://www.youtube.com/@sibanyestillwater/videos  

X: https://twitter.com/SIBSTILL  

In Europe

Swiss Resource Capital AG

Marc Ollinger

info@resource-capital.ch

www.resource-capital.ch

Sponsor: J.P. Morgan Equities South Africa Proprietary Limited

DISCLAIMER FORWARD LOOKING STATEMENTS

This announcement contains forward-looking statements within the meaning of the “safe harbour” provisions of the United States Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this presentation may be forward-looking statements. Forward-looking statements may be identified by the use of words such as “will”, “would”, “expect”, “forecast”, “potential”, “may”, “could”, “believe”, “aim”, “anticipate”, “intend”, “target”, “estimate” and words of similar meaning.

These forward-looking statements, including among others, those relating to Sibanye Stillwater Limited’s (Sibanye-Stillwater or the Group) future financial position, business strategies and other strategic initiatives, business prospects, industry forecasts, production and operational guidance, climate and ESG-related targets and metrics, and plans and objectives for future operations, project finance and the completion or successful integration of acquisitions, are necessarily estimates reflecting the best judgement of Sibanye-Stillwater’s senior management. Readers are cautioned not to place undue reliance on such statements. Forward-looking statements involve a number of known and unknown risks, uncertainties and other factors, many of which are difficult to predict and generally beyond the control of Sibanye-Stillwater that could cause its actual results and outcomes to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. As a consequence, these forward-looking statements should be considered in light of various important factors, including those set forth in Sibanye-Stillwater’s 2025 Integrated Report and annual report on Form 20-F filed with the Securities and Exchange Commission (SEC) on 24 April 2026 (SEC File no. 333-234096). These forward-looking statements speak only as of the date of this presentation. Sibanye-Stillwater expressly disclaims any obligation or undertaking to update or revise any forward-looking statement (except to the extent legally required).

Websites

References in this announcement to information on websites (and/or social media sites) are included as an aid to their location and such information is not incorporated in, and does not form part of, this announcement.

Each Unit is comprised of one common share of the Company and one-half of one warrant (each whole warrant, a “Warrant”). Each Warrant shall be exercisable into one common share of the Company (a “Warrant Share”) at a price of C$1.35 per Warrant Share for an exercise period of 24 months from the closing of the Offering.

The Company will grant the Underwriters an option, exercisable in whole or in part, at any time until and including 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering. If this option is exercised in full, an additional C$13,050,000 in gross proceeds will be raised pursuant to the Offering and the aggregate gross proceeds of the Offering will be approximately C$100 million.

The Company plans to use the net proceeds from the Offering to fund exploration and development expenditures at the Company’s silver-gold El Tigre Project located in Sonora, Mexico (the “Project”), as well as for working capital and general corporate purposes.

The Offering is scheduled to close on or about October 13, 2026 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX and the securities regulatory authorities.

The Units will be offered by way of a short form prospectus to be filed in all provinces of Canada, except Québec. The Units will also be sold to U.S. buyers on a private placement basis pursuant to an exemption from the registration requirements in Rule 144A of the United States Securities Act of 1933, as amended, and other jurisdictions outside of Canada provided that no prospectus filing or comparable obligation arises.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the “1933 Act”) and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act, as amended, and applicable state securities laws. 

The preliminary short form prospectus and the final short form prospectus will be available on SEDAR+ at www.sedarplus.ca. Copies of the preliminary short form prospectus and final short form prospectus may also be obtained by contacting the Company or Stifel Canada, attention: ProspectusCanada@stifel.com.

Capital Expenditure Update for El Tigre Project

The Company is also providing an update on the expected capital expenditures (“CapEx”) for the construction of the mine and process plant for the Stockwork Zone at the Project.

On March 18, 2026, the board of directors of the Company approved the construction decision for the Stockwork Zone at the Project and in the same month, entered into an Engineering, Procurement and Construction Management Contract (the “EPCM”) with Kappes, Cassiday & Associates (“KCA”) and Kappes, Cassiday del Norte S de RL de CV (“KCN”) to assist in the construction of the mine and process plant at the Project. The Company also hired its own experienced mine construction executive team to work with KCA and KCN. Commissioning and first pour are targeted for December 2027.

The updated estimated CapEx for the Project is now approximately US$124 million (an increase of approximately US$37 million from the initial CapEx estimate in the Company’s technical report titled “Stockwork Zone Pre-Feasibility Study and Underground Preliminary Economic Assessment of the El Tigre Silver-Gold Project Sonora, Mexico” effective as of June 20, 2025 and dated January 22, 2026 (the “2026 Technical Report”)), comprising approximately US$108 million under the EPCM and approximately US$16 million managed directly by the Company. 

The updated estimated CapEx is a result of the following:

• Following completion of the technical report titled “Pre-Feasibility Study of the El Tigre Silver-Gold Project Sonora, Mexico for Silver Tiger Metals Inc.” effective as of October 22, 2024 and dated December 6, 2024 (the “2024 Technical Report”), the Company entered into a Front End Engineering and Design (FEED) contract with KCA, which included a review and update for the CapEx estimation. The increased CapEx was the result of this detailed exercise, which reflected the following:
  1. Cost escalation in the mining industry over the last couple of years has been significant and has contributed an estimated 10% to the current CapEx estimate compared to the time of the 2024 Technical Report.
  2. Following the 2026 Technical Report, the Company conducted additional geotechnical drilling and, on the basis of that analysis, added approximately US$25 million to the scope of the earthworks. In particular, the Class C volumes (the material requiring blasting) have nearly doubled in the final design.
  3. The Company has entered into binding supply agreements for major equipment, including the crushing plant, Merrill Crowe precipitation circuit, and the conveying and stacking systems, with local suppliers. The negotiated pricing resulted in additional costs compared to the 2026 Technical Report, consistent with realized cost escalation in the industry.

Readers are reminded that the results of the economic analysis included in the 2026 Technical Report for the Stockwork Zone were based on certain assumptions made as of the effective date of the report and that those inputs are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those presented therein. Readers are encouraged to consider, among other things, the impact of the increased CapEx estimate on the economic analysis included in the 2026 Technical Report for the Stockwork Zone.

As at September 10, 2026, the Company had contractually committed approximately US$81 million, representing approximately 66% of the total estimated CapEx, and had incurred approximately US$17 million towards the CapEx requirement. The following table summarizes the Company’s estimated remaining CapEx requirements and pro forma cash position following completion of the Offering.

Notes:

1. Assuming full exercise of the over-allotment option, the gross proceeds from the Offering would be approximately C$100 million.
2. Assuming full exercise of the over-allotment option, the Underwriters’ cash commission would be approximately C$5 million.
3. Assuming full exercise of the over-allotment option, the pro forma cash balance following the Offering would be approximately C$185 million and the excess cash after funding the estimated remaining CapEx requirement would be approximately C$35 million.
4. Represents the Company’s estimated remaining CapEx requirements as of September 10, 2026, based on the updated estimated CapEx of approximately US$124 million less approximately US$17 million incurred as of such date and converted to Canadian dollars using the Bank of Canada daily exchange rate for the U.S. dollar on September 18, 2026.

About Silver Tiger

Silver Tiger is constructing the El Tigre Stockwork Zone Project, a silver and gold heap leach project located in Sonora, Mexico. The Project is 100% owned by Silver Tiger and covers over 37,000 hectares. The 2026 Technical Report is available on SEDAR+ and under the Company’s profile as well as on its website at www.silvertigermetals.com.

Qualified Person

Dave Duncan, P. Geo., VP Exploration of Silver Tiger, is the Qualified Person for Silver Tiger as defined under National Instrument 43-101. Mr. Duncan has reviewed and approved the scientific and technical information in this press release.

For further information, please contact: 

Glenn Jessome, President and CEO 

902 492 0298

jessome@silvertigermetals.com

In Europe

Swiss Resource Capital AG

Marc Ollinger

info@resource-capital.ch

www.resource-capital.ch

CAUTIONARY STATEMENT 

This news release may contain “forward-looking information” as defined in applicable Canadian securities legislation. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding use of proceeds of the Offering, closing of the Offering, and approval of the TSX, the Project, capital cost estimates and estimated cost to completion of the Project, construction progress and timing, and future plans and objectives of Silver Tiger constitute forward-looking information that involve various risks and uncertainties. Forward-looking information is based on a number of factors and assumptions which have been used to develop such information but which may prove to be incorrect, including, but not limited to, assumptions in connection with the continuance of Silver Tiger and its subsidiaries as a going concern, general economic and market conditions, mineral prices, the accuracy of mineral resource estimates, and the performance of the Project. There can be no assurance that such information will prove to be accurate and actual results and future events could differ materially from those anticipated in such forward-looking information.

Important factors that could cause actual results to differ materially from Silver Tiger expectations include exploration and development risks associated with the Silver Tiger projects, the failure to establish estimated mineral resources or mineral reserves, volatility of commodity prices, variations of recovery rates, and global economic conditions. For additional information with respect to risk factors applicable to Silver Tiger, reference should be made to Silver Tiger continuous disclosure materials filed from time to time with securities regulators, including, but not limited to, its annual information form. The forward-looking information contained in this release is made as of the date of this release.

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

All monetary amounts are expressed in Canadian Dollars, unless otherwise indicated.