Osisko Metals Incorporated (the ‘ Company or ‘ Osisko Metals ‘) ( TSX: OM,OTC:OMZNF ; OTCQX: OMZNF ; FRANKFURT: 0B51 ) is pleased to announce new drill results from the Gaspé Copper Project, located in the Gaspé Peninsula of Eastern Québec.

Osisko Metals Chief Executive Officer Robert Wares commented: ‘ Drill hole 30-1097 produced our longest intersection so far, returning 1117 metres of continuous mineralization from the top of Copper Mountain, located in the heart of the deposit. With 10 drills on site, we have completed over 65,000 metres of the drill program to date, and will continue the current program of infill and expansion drilling until December. The updated MRE is well on track to be released in Q1 2026. ‘

New analytical results are presented below (see Table 1), including 19 mineralized intercepts from 6 new drill holes. Infill intercepts are located inside the 2024 MRE model ( see November 14, 2024 news release ), and are focused on upgrading inferred mineral resources to measured or indicated categories, as applicable. Expansion intercepts are located outside the 2024 MRE model and may potentially lead to additional resources that will be classified appropriately within the next MRE update. Some of the reported intercepts have contiguous shallower infill as well as deeper expansion (noted on Table 1 below as ‘Both’). Maps showing hole locations are available at www.osiskometals.com .

Highlights:

• Drill hole 30-1097
  • 1117.5 metres averaging 0.25% Cu (infill and expansion)
• Drill hole 30-1100
  • 228.5 metres averaging 0.25% Cu (infill and expansion)
• Drill hole 30-1101
  • 148.5 metres averaging 0.32% Cu (infill)
• Drill hole 30-1104
  • 792.0 metres averaging 0.20% Cu (infill and expansion)
• Drill hole 30-1105
  • 110.5 metres averaging 0.20% Cu (infill)
  • 288.0 metres averaging 0.19% Cu (expansion)

Table 1: Infill and Expansion Drilling Results

* See explanatory notes below on copper equivalent values and Quality Assurance/Quality Controls.
** ‘Both’ indicates drill holes that have contiguous shallower infill as well as deeper expansion intercepts.

Discussion

Drill hole 30-1097, located on top of Copper Mountain near the central part of the 2024 MRE model, intersected 1117.5 metres averaging 0.25% Cu, 0.022% Mo, and 1.81 g/t Ag that included expansion at depth of 426.0 metres averaging 0.27% Cu, 0.028% Mo, and 1.42 g/t Ag. This hole extends mineralization near the centre of the deposit to a vertical depth of 1,204 metres.

Drill hole 30-1100, near the southwestern margin of the 2024 MRE model, intersected five separate mineralized intervals, including 228.5 metres averaging 0.25% Cu, 0.013% Mo, and 1.61 g/t Ag (infill and expansion). This was followed by 127.2 metres averaging 0.15% Cu, 0.012% Mo, and 0.82 g/t Ag and then by another 111.7 metres averaging 0.17% Cu, 0.010% Mo, and 1.24 g/t Ag (both expansion), extending mineralization to a vertical depth of 975 metres.

Drill holes 30-1101 and 30-1102, both located near the eastern margin of the 2024 MRE model, intersected several, relatively short mineralized intervals that were 27 to 76 metres long, with the exception of one 148.5 metre interval (30-1101) that averaged 0.32% Cu and 2.52 g/t Ag (infill). These holes, along with several other previously reported holes, confirm the currently defined eastern margin of the 2024 MRE model.

Drill hole 30-1104, located near the west-central portion of the 2024 MRE model, intersected two short (28 and 31 metres) intervals followed by 792.0 metres averaging 0.20% Cu, 0.015% Mo and 1.33 g/t Ag that included expansion at depth of 401.5 metres averaging 0.22% Cu, 0.017% Mo, and 1.17 g/t Ag. This hole extends mineralization in this area to a vertical depth of 969 metres.

Drill hole 30-1105, located in the southwestern portion of the 2024 MRE model, intersected 110.5 metres averaging 0.20% Cu and 1.30 g/t Ag (infill), followed by 93.7 metres averaging 0.25% Cu and 1.72 g/t Ag (infill and expansion), followed by a third intersection of 288.0 metre averaging 0.19% Cu, 0.012% Mo, and 2.03 g/t Ag (expansion), extending mineralization to a vertical depth of 666 metres.

Mineralization at Gaspé Copper is of porphyry copper/skarn type and occurs as disseminations and stockworks of chalcopyrite with pyrite or pyrrhotite and minor bornite and molybdenite. At least five retrograde vein/stockwork mineralizing events have been recognized at Copper Mountain, which overprint earlier prograde skarn and porcellanite-hosted mineralization throughout the Gaspé Copper system. Porcellanite is a historical mining term used to describe bleached, pale green to white potassic-altered hornfels. Subvertical stockwork mineralization dominates at Copper Mountain whereas prograde bedding-replacement mineralization, that is mostly stratigraphically controlled, dominates in the area of Needle Mountain, Needle East, and Copper Brook. High molybdenum grades (up to 0.5% Mo) were locally obtained in both the C Zone and E Zone skarns away from Copper Mountain.

The 2022 to 2024 Osisko Metals drill programs were focused on defining open-pit resources within the Copper Mountain stockwork mineralization ( see May 6, 2024 MRE press release ). Extending the resource model south of Copper Mountain into the poorly-drilled prograde skarn/porcellanite portion of the system subsequently led to a significantly increased resource, mostly in the Inferred category ( see November 14, 2024 MRE press release ).

The current drill program is designed to convert the November 2024 MRE to Measured and Indicated categories, as well as test the expansion of the system deeper into the stratigraphy and laterally to the south and southwest towards Needle East and Needle Mountain respectively. The November 2024 MRE was limited at depth to the base of the L1 skarn horizon (C Zone), and all mineralized intersections below this horizon represent potential depth extensions to the deposit, to be included in the next scheduled MRE update in Q1 2026.

All holes are being drilled sub-vertically into the altered calcareous stratigraphy which dips 20 to 25 degrees to the north. The L1 (C Zone) the L2 (E Zone) skarn/marble horizons were intersected in most holes, as well as intervening porcellanites that host the bulk of the disseminated copper mineralization.

Table 2: Drill hole locations

Explanatory note regarding copper-equivalent grades

Copper Equivalent grades are expressed for purposes of simplicity and are calculated taking into account: 1) metal grades; 2) estimated long-term prices of metals: US$4.25/lb copper, $20.00/lb molybdenum, and US$24/oz silver; 3) estimated recoveries of 92%, 70%, and 70% for Cu, Mo, and Ag respectively; and 4) net smelter return value of metals as percentage of the price, estimated at 86.5%, 90.7%, and 75.0% for Cu, Mo, and Ag respectively.

Qualified Person

The scientific and technical content of this news release has been reviewed and approved by Mr. Bernard-Olivier Martel, P. Geo. (OGQ 492), an independent ‘qualified person’ as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (‘NI 43-101’).

Quality Assurance / Quality Control

Mineralized intervals reported herein are calculated using an average 0.12% CuEq lower cut-off over contiguous 20-metre intersections (shorter intervals as the case may be at the upper and lower limits of reported intervals). Intervals of 20 metres or less are not reported unless indicating significantly higher grades .   True widths are estimated at 90 – 92% of the reported core length intervals.

Osisko Metals adheres to a strict QA/QC program for core handling, sampling, sample transportation and analyses, including insertion of blanks and standards in the sample stream. Drill core is drilled in HQ or NQ diameter and securely transported to its core processing facility on site, where it is logged, cut and sampled. Samples selected for assay are sealed and shipped to ALS Canada Ltd.’s preparation facility in Sudbury. Sample preparation details (code PREP-31DH) are available on the ALS Canada website. Pulps are analyzed at the ALS Canada Ltd. facility in North Vancouver, BC. All samples are analyzed by four acid digestion followed by both ICP-AES and ICP-MS for Cu, Mo and Ag.

About Osisko Metals

Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals sector, with a focus on copper and zinc. The Company acquired a 100% interest in the past-producing Gaspé Copper mine from Glencore Canada Corporation in July 2023. The Gaspé Copper mine is located near Murdochville in Québec ‘ s Gaspé Peninsula. The Company is currently focused on resource expansion of the Gaspé Copper system, with current Indicated Mineral Resources of 824 Mt averaging 0.34% CuEq and Inferred Mineral Resources of 670 Mt averaging 0.38% CuEq (in compliance with NI 43-101). For more information, see Osisko Metals’ November 14, 2024 news release entitled ‘Osisko Metals Announces Significant Increase in Mineral Resource at Gaspé Copper’. Gaspé Copper hosts the largest undeveloped copper resource in eastern North America, strategically located near existing infrastructure in the mining-friendly province of Québec.

In addition to the Gaspé Copper project, the Company is working with Appian Capital Advisory LLP through the Pine Point Mining Limited joint venture to advance one of Canada ‘ s largest past-producing zinc mining camps, the Pine Point project, located in the Northwest Territories. The current mineral resource estimate for the Pine Point project consists of Indicated Mineral Resources of 49.5 Mt averaging 5.52% ZnEq and Inferred Mineral Resources of 8.3 Mt averaging 5.64% ZnEq (in compliance with NI 43-101). For more information, see Osisko Metals ‘ June 25, 2024 news release entitled ‘Osisko Metals releases Pine Point mineral resource estimate: 49.5 million tonnes of indicated resources at 5.52% ZnEq’. The Pine Point project is located on the south shore of Great Slave Lake, NWT, close to infrastructure, with paved road access, an electrical substation and 100 kilometres of viable haul roads.

For further information on this news release, visit www.osiskometals.com or contact:

Don Njegovan, President
Email: info@osiskometals.com
Phone: (416) 500-4129

Cautionary Statement on Forward-Looking Information

This news release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as ‘expects’, or ‘does not expect’, ‘is expected’, ‘interpreted’, ‘management’s view’, ‘anticipates’ or ‘does not anticipate’, ‘plans’, ‘budget’, ‘scheduled’, ‘forecasts’, ‘estimates’, ‘potential’, ‘feasibility’, ‘believes’ or ‘intends’ or variations of such words and phrases or stating that certain actions, events or results ‘may’ or ‘could’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains forward-looking information pertaining to, among other things: the tax treatment of the FT Units; the timing of incurring the Qualifying Expenditures and the renunciation of the Qualifying Expenditures; the ability to advance Gaspé Copper to a construction decision (if at all); the ability to increase the Company’s trading liquidity and enhance its capital markets presence; the potential re-rating of the Company; the ability for the Company to unlock the full potential of its assets and achieve success; the ability for the Company to create value for its shareholders; the advancement of the Pine Point project; the anticipated resource expansion of the Gaspé Copper system and Gaspé Copper hosting the largest undeveloped copper resource in eastern North America.

Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including, without limitation, assumptions about: the ability of exploration results, including drilling, to accurately predict mineralization; errors in geological modelling; insufficient data; equity and debt capital markets; future spot prices of copper and zinc; the timing and results of exploration and drilling programs; the accuracy of mineral resource estimates; production costs; political and regulatory stability; the receipt of governmental and third party approvals; licenses and permits being received on favourable terms; sustained labour stability; stability in financial and capital markets; availability of mining equipment and positive relations with local communities and groups. 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. Factors that could cause actual results to differ materially from such forward-looking information are set out in the Company’s public disclosure record on SEDAR+ (www.sedarplus.ca) under Osisko Metals’ 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.

Neither the TSX Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Exchange) accept 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.

Figures accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/d9ceeb48-c38d-45dc-a5ec-f96863709f4a
https://www.globenewswire.com/NewsRoom/AttachmentNg/2df9a7aa-2f59-4631-b9dc-e4794a30e22b

Samples up to 44.5 g/t Gold, 3,037 g/t Silver, and 8.56% Copper

Silver47 Exploration Corp. (TSXV: AGA,OTC:AAGAF) (OTCQB: AAGAF) (‘Silver47’ or the ‘Company’) is pleased to provide assay results from a recently completed rock sampling program at its high-grade Kennedy gold-silver Project in Nevada (the ‘Kennedy Project’). Results demonstrate strong prospectivity for high-grade gold and silver mineralization across the under-explored project.

Highlights:

• High-Grade Assay Results: Select rock samples returned exceptional grades, including:
  • 21.9 g/t Au, 2,336 g/t Ag, 8.56% Cu (Borlasca Vein)
  • 6.2 g/t Au, 3,037 g/t Ag (Fourth of July Vein)
  • 40.4 g/t Au, 232 g/t Ag (Gold Note Vein)
  • 39.4 g/t Au, 370 g/t Ag (Cricket Vein)
  • 12.7 g/t Au, 305 g/t Ag (Accident Vein)
  • 15.9 g/t Au, 323 g/t Ag (Coyote Vein)
  • 19.5 g/t Au, 273 g/t Ag (Danneburg Vein)
  • 30.4 g/t Au, 148 g/t Ag (Imperial Vein)
  • 3.1 g/t Au, 583 g/t Ag (Trail/Senator Vein)
  • 44.5 g/t Au (Hidden Treasure Vein)

• Expanded Land Holdings: Silver47 has staked substantial additional land around the mineralized vein system covering all prospective open ground around the Kennedy district, which is not shown on Figure 1.

• Large High-Grade Vein Footprint: Sampling across a 3 km x 2 km area reveals widespread gold and silver mineralization, establishing the Kennedy Project as a high-potential precious metal district in Nevada.

• Undrilled Nevada Vein Field: Approximately 22 km of near-surface veins, largely untouched by modern exploration, present a compelling opportunity for significant discoveries.

• Robust Exploration Program Planned: A multidisciplinary program including geological mapping, rock chip sampling, ground geophysics, and soil-geochemical surveys is panned for this fall to pinpoint high-priority drill targets.

• Red Mountain Project Drill Program Progress: 12 holes have been completed at the Dry Creek and West Tundra Flats deposits where zones of massive, semi-massive and disseminated sulfides have been intersected in step-out and infill holes. Assays are pending and drilling continues.

Galen McNamara, CEO, stated: ‘Our exploration at the Kennedy Project is revealing high-grade gold and silver targets across a 22 km network of largely untested veins. Having acquired this project by claim staking last year, it is also royalty free. These initial results validate our acquisition strategy and position the district as a unique discovery opportunity in Nevada. Concurrently, drilling at our Red Mountain project in Alaska is progressing well, with drilling intersecting promising massive sulfide zones. We look forward to sharing assay results as they become available to showcase the strength of our American project portfolio.’

Figure 1. Plan Map of Kennedy Project.

To view an enhanced version of this graphic, please visit:
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Figure 2 (see attached figure). Disseminated, banded and massive sulfide mineralization featuring pyrite, pyrrhotite, chalcopyrite, sphalerite and galena in hole DC25-110 from the Red Mountain, Alaska. Photo is not intended to be representative of broader mineralization.

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Table 1: Rock assay highlights

 
*NAD83 Z 11
^see references for sources of data

Defining Widespread High-Grade Gold-Silver Mineralization

A reconnaissance-style prospecting and sampling program was recently completed by Silver47’s exploration team on unpatented mining claims of the Kennedy Project. The purpose of the program was to confirm the presence of high-grade gold-silver-base metal mineralization across eleven targets (Figure 1). Areas of historic surface workings (e.g., blast pits and mine dumps) as well as outcrop, subcrop and float were sampled. In total, 109 samples were collected (see April 24^th, 2025 news release for first batch of results). Data from over 40 historic rock samples were also compiled and combined with the new data creating a rock geochemical database of over 150 samples (Figure 1).

Selective sampling across the eleven targets (Figure 1) demonstrates the scale and high-grade potential of vein-systems typical of the Kennedy Project. Highlights from recent and historical sampling include:

• Gold Note: Most of the historic gold production in the Kennedy district was from the Gold Note mine. The mine was centered on a series of high-angle, broadly east-west striking quartz veins hosted in volcanic and sedimentary rocks and traced for over 350 m. Waste material from the mine has been stacked in dumps near the main Union and No. 2 adits (Figure 1). Sampling of these dumps returned grades up to 40.4 g/t Au with 232 g/t Ag and 11.1 g/t Au with 1,020 g/t Ag (Table 1) and the 14 new and compiled samples average 7.9 g/t Au with 193 g/t Ag. These results agree with historic mine grades which were reportedly as high as 15.5 g/t Au with 311 g/t Ag¹.

• Borlasca: The east-west trending Borlasca target comprises a series of northwest to west striking structures centered approximately 900 m east of the Gold Note mine. Veins and oxidized vein-breccias are hosted in porphyritic rhyolite associated with strong silicification. Samples of dump and outcrop from across the three main Borlasca veins have returned up to 21.9 g/t Au with 2,336 g/t Ag with 8.56% Cu. The strong copper mineralization in many of the Borlasca samples suggest strong prospectivity for copper mineralization across this part of the Kennedy district.

• Coyote: The northwest-striking Coyote vein system is centered approximately 600 m north of the Gold Note mine. Veins and quartz-cemented breccias of the Coyote target are hosted primarily in granite and quartz-phyric rhyolite. Samples of dump material, subcrop and float from the main Coyote target returned grades up to 15.9 g/t Au with 323 g/t Ag and 2.9 g/t Au with 759 g/t Ag (Table 1). Sampling 600 m along strike to the northwest returned 5.7 g/t Au with 20.8 g/t Ag (sample 350121, Table 1).

• Cricket-Accident trend: The north-northwest striking Cricket target is centered approximately 2.2 km northeast of the Gold Note mine (Figure 1). The vein-system is hosted near a contact between andesite and monzonite and consists of brecciated and drusy quartz veins and veinlets. The Cricket vein has been sampled (outcrop and dumps) for over 200 m along strike with grades up to 39.4 g/t Au and 370 g/t Ag (15 samples average 12.3 g/t Au and 132 g/t Ag). High-grade gold and silver mineralization at Cricket is locally associated with strong lead and antimony mineralization (up to 3.0% Pb and 3,540 ppm Sb). The Accident vein, 300 m along strike to the south of Cricket, is interpreted to be part of the same 800 m north-trending vein-system. Sampling at Accident returned up to 12.7 g/t Au with 305 g/t Ag (Table 1). Further sampling along trend north of Cricket towards the historic Wall Street mine and along trend south of Accident is warranted.

• Fourth of July: The Fourth of July vein sets are hosted in strongly oxidized granite/monzonite and comprise quartz-rich breccias and veins. Sampling of outcrop, subcrop, dump and float along a 200 m trend at Fourth of July returned up to 6.2 g/t Au with 3,037 g/t Ag and 9.6 g/t Au with 2,360 g/t Ag. The veins may represent a possible southern offset of the Cricket-Accident trend of veins and supports the strong prospectivity for high-grade gold-silver mineralization in broadly north-trending structural corridors.

• Trail-Imperial trend: The historic Trail/Senator mine represents the southern extent of the broadly north-trending Trail-Imperial corridor. The high-grade Imperial Mine represents the northern extent of the 1.0 km long corridor. The Trail/Senator target comprises quartz-rich veins and breccias with associated wall rock hosted quartz-stringers and veinlets. Sampling of dumps and outcrop returned up to 8.61 g/t Au with 133 g/t Ag and 6.4 g/t Au with 43.1 g/t Ag. At Imperial, primarily hosted in quartz monzonite sampling returned up to 30.4 g/t Au with 148 g/t Ag and 16.8 g/t Au with 17.2 g/t Ag. Similar to the parallel Cricket-Accident trend, the Trail-Imperial corridor demonstrated strong prospectivity for high-grade gold and silver mineralization along north-trending structural corridors.

• Hidden Treasure-Chromo trend: The Hidden Treasure set of mineralized veins are centered 800 m north of the Gold Note mine and hosted primarily in volcanics and breccias near the contact with granite. Together with the Chromo target (Figure 1), 300 m along strike to the north, the mineralized Hidden Treasure-Chromo trend comprises high-grade gold-bearing breccias with samples up to 44.5 g/t Au and 27.6 g/t Au (7 samples at Hidden Treasure average 15.6 g/t Au and 31 g/t Ag).

• Danneburg: The Danneburg group of mineralized vein occurrences, covering a 200 by 150 m area, is centered approximately 3.0 km northeast of the Gold Note mine. Drusy and oxidized veins hosted in silicified and oxidized granite returned up 19.5 g/t Au with 273 g/t Ag and 3.8 g/t Au with 554 g/t Ag in dump material. Further work is required at Danneburg to define the strike-extent of the dominant north- and northwest-striking vein-sets.

Based on the results from the preliminary sampling and prospecting program, an additional 4,000 acres of unpatented mining claims have been acquired through staking. The strategic claims cover all prospective open ground around the Kennedy district.

Next Steps

The extensive mineralized corridors across the Kennedy Project with multiple high-grade targets have not yet seen any systematic modern exploration. A multidisciplinary program consisting of geological mapping, ground geophysics (magnetics and induced polarization) and soil and rock geochemical surveys are planned to refine existing targets and define new drill targets. Follow-up exploration is set to commence this fall.

Analytical and Quality Assurance and Quality Control Procedures

Rock samples were sent to Paragon Geochemical Laboratories in Sparks, Nevada for preparation and analysis. Paragon meets all requirements of International Standards ISO/IEC 17025:2005 and ISO 9001:2015 for analytical procedures. Samples were analyzed for gold via fire assay with an MS finish (‘AU-FA30′), and for silver via inductively-coupled plasma, mass spectroscopy (ICP-MS) after four-acid digestion (’48MA-MS’). Samples assaying over 8 ppm Au were re-run via fire assay for Au with a gravimetric finish (‘AU-GR30’). Samples that assayed over 100 ppm Ag (0.01%), 1,000 ppm Cu (1%), Zn (1%) and Pb (1%) were re-run via inductively coupled plasma optical emission spectroscopy (‘OLMA-OES’).

Historical data referenced herein (e.g., rock samples²), including but not limited to assay results and geological interpretations from previous exploration activities, have been sourced from publicly available records, archived reports, and third-party databases believed to be reliable. However, Silver47 has not independently verified this historical data through resampling, re-assaying, or other confirmatory methods. As such, the Company cautions that this historical information has not been verified by a Qualified Person. The Company is not treating historical information as current and it is being used to guide exploration only.

Marketing Agreement

Effective September 3, 2025, the Company has engaged Sideways Frequency LLC (‘SFLLC’) to provide certain marketing services to the Company. Under the agreement, the Company will pay SFLLC $250,000 USD for a 12-month term. The Company may elect to renew or extend the engagement at any point during the term. The marketing services will include, but are not limited to, email campaigns, native advertising, display ads, lead generation, creation of content, strategic planning, digital advertisement placement, and overseeing progress and results of digital campaigns. The Company has granted 80,000 stock options to SFLLC at a strike price of $0.83 with a three-year term. The options vest quarterly over a period of one year.

SFLLC is based in Utah, USA and is at arm’s length to the Company. SFLLC and its principals have no present, direct or indirect interest in the Company or its securities, nor any right or present intention to acquire such an interest except as otherwise provided herein. The agreement and the option grant remain subject to TSX Venture Exchange approval.

Technical Disclosure

The technical content of this news release has been reviewed and approved by Galen McNamara, P. Geo., the CEO of the Company and a qualified person as defined by National Instrument 43-101.

Rock-chip, dump, float and subcrop samples are selective by nature and may not be representative of mineralization across the Kennedy Project.

References

¹Klopstock, Paul (1913) The Kennedy mining district, Nevada, American Institute of Mining Engineers Bulletin, v. 77. p. 1041-1046

²Data reported by West Cirque Resources, WCQ TSX-V NRs September 13, 2011 and November 22, 2011

About Silver47 Exploration

Silver47 Exploration Corp is a mineral exploration company, focused on uncovering and developing silver-rich deposits in North America. The Company is creating a leading high-grade US-focused silver developer with a resource totaling 236 Moz AgEq at 334 g/t AgEq inferred and 10 Moz at 333 g/t AgEq indicated. With operations in Alaska, Nevada and New Mexico, Silver47 Exploration is anchored in America’s most prolific mining jurisdictions. For detailed information regarding the resource estimates, assumptions, and technical reports, please refer to the NI 43-101 Technical Report and other filings available on SEDAR at www.sedarplus.ca. The Company trades on the TSXV under the ticker symbol AGA and OTCQB under the ticker symbol AAGAF.

For more information about the Company, please visit www.silver47.ca and see the Technical Report filed on SEDAR+ (www.sedarplus.ca) and titled ‘Technical Report on the Red Mountain VMS Property Bonnifield Mining District, Alaska, USA with an effective date January 12, 2024, and prepared by APEX Geoscience Ltd.’

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On Behalf of the Board of Directors

Mr. Galen McNamara
CEO & Director

No securities regulatory authority has either approved or disapproved of the contents of this release. Neither the 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 release.

FORWARD-LOOKING STATEMENTS

This news release includes forward-looking information regarding, among other things, the timing, scope and objectives of planned exploration at the Kennedy Project (including mapping, geophysics, geochemical surveys and target generation), potential future drilling, and the anticipated timing of assay results at Red Mountain. Forward-looking information is based on a number of assumptions that, while considered reasonable by management at the date hereof, are inherently subject to business, technical and operational uncertainties. Assumptions include the availability of personnel and equipment, access to the property, receipt of permits and approvals, budget availability, and that historical information compiled will be useful in guiding exploration. Material risk factors that may cause actual results to differ materially include changes in exploration plans; results of field work that differ from expectations; access, permitting or regulatory risks; availability of contractors and laboratory turn-around times; weather; commodity price volatility; and the risks described in the Company’s public filings on SEDAR+. The Company does not undertake to update any forward-looking information except as required by applicable securities laws.’ (meets all four required elements).

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Brunswick Exploration Inc. ( TSX-V: BRW OTCQB: BRWXF ; FRANKFURT:1XQ ; ‘ BRW ‘ or the ‘ Company ‘) is pleased to announce that it has begun drilling at the Anatacau Main Project, located in the Eeyou-Istchee James Bay region of Quebec. The drill program will target the Anais lithium discovery, located 22 kilometers east and along strike from Rio Tinto’s Galaxy project and BRW’s Anatacau West project.

Mr. Killian Charles, President and CEO of BRW, commented: ‘Beyond our favorable results in Greenland, we continue to advance our portfolio of assets in Quebec. We expect to complete our maiden resource estimate at Mirage in Q4 and, now, have begun an exciting new drill program at Anatacau Main, one of our first Canadian lithium discoveries. Our previous work at the neighbouring Anatacau West project demonstrated that mineralization is immediately contiguous east of the Galaxy Lithium project. Importantly, we believe the Anais showing also possesses the same structural context and similar geological features to the Galaxy Lithium project.’

Anatacau Main Overview

Brunswick Exploration expects to drill between 1,000 and 1,500 meters comprised of 10 inclined holes at an average length of 150 meters each. The first five drill holes are collared on the Anais discovery made by the BRW team in 2023, which consists of several parallel pegmatite dykes with visible spodumene mineralization. The largest dyke found to date is exposed over a 15 m wide by 100 m long outcrop (see press release dated July 13, 2023 ).

Figure 1: Anatacau Main Project Location

The Anatacau Main project is straddled by a large-scale E-W deformation corridor, hosting Rio Tinto’s Galaxy Lithium project where mineralization is constrained to multiple extensional lithium-bearing pegmatite dykes (see figure 1). This corridor runs through both the Anatacau West and Anatacau Main projects. Combined, BRW controls over 30 km of favorable structure, with potential for more lithium discoveries with the area immediately surrounding the Anais showing being most prospective.

The drilling will be ground supported and operated from the Company’s neighbouring camp. It is easily accessible from the paved Billy Diamond Highway, located approximately 21 km east of the ‘KM 381’ rest stop that can provide accommodation, catering, fuel and power. This drilling program is partially financed by the Ministry of Natural Resources and Forests of the Quebec Government, up to a maximum amount of $293,273. Brunswick Exploration would like to thank the Quebec Government for its initiative to support the mining exploration industry and continued advancement of critical and strategic minerals projects.

Qualified Person

The scientific and technical information related to this press release has been reviewed and approved by Mr. Francois Goulet, Manager Quebec. He is a Professional Geologist registered in Quebec.

About Brunswick Exploration Inc.

Brunswick Exploration is a Montreal-based mineral exploration company listed on the TSX-V under symbol BRW. The Company is focused on grassroots exploration for lithium in Canada, a critical metal necessary to global decarbonization and energy transition. The company is rapidly advancing its extensive grassroots lithium property portfolio in Canada and Greenland.

Investor Relations/information

Mr. Killian Charles, President and CEO ( info@BRWexplo.com )

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

Cautionary Statement on Forward-Looking Information

This news release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation 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. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, 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 Corporation’s public documents filed on SEDAR at www.sedar.com. Although the Corporation 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 Corporation 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. 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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fbad1753-51e2-4ab9-80a1-5f7543e3e981

Highlights:

• Drill hole Bo_RC_14/25 intersects 12.0 metres @ 4.27% WO₃ including 6.0 metres @ 8.39% WO₃ from 252.00 metres downhole, confirming one of the highest-grade tungsten intercepts reported in Western exploration, especially for high quality wolframite tungsten mineralization. This validates early visual observations and supports the presence of a controlled high-grade breccia corridor.

• Over 2,500 metres of drilling completed across nine holes, with multiple intercepts of visible wolframite and chalcopyrite. The remaining 1,600 metres of the 4,200 metre campaign now underway with a further fully funded 1,528 metres now also planned with two rigs active on site.

• Tungsten price reaches high of $545 USD/MTU, up approximately 40% in last 4 months as demand for the critical mineral increases with further supply chain restrictions from non-Western countries.

Allied Critical Metals Inc. (CSE: ACM,OTC:ACMIF) (OTCQB: ACMIF) (FSE: 0VJ0) (‘Allied’ or the ‘Company’), which is focused on its 100% owned past producing Borralha and Vila Verde tungsten projects in northern Portugal, is pleased to announce an update on its ongoing 4,200-metre Reverse Circulation (RC) drill program at the Borralha Tungsten Project. The initial phase of the campaign was launched in early June 2025 and continues to deliver strong technical progress, supporting: (i) an updated Mineral Resource Estimate (MRE), anticipated in Q4 2025; (ii) advanced metallurgical testing; and (iii) the Company’s Preliminary Economic Assessment (PEA) for a large scale processing facility located at Borralha, targeted for completion later this year. A further fully funded 1,528 metre drilling is now also planned for the fourth quarter of 2025 to build off of the successes in July.

High-grade results from drill hole Bo_RC_14/25 marks a breakthrough for the Borralha Project, with further drilling and a Preliminary Economic Assessment already underway. The results are particularly timely as tungsten price has reached a new high of $545 USD/MTU, which is an increase of approximately 40% over the past four months as demand for the critical mineral increases in the face of further supply chain restrictions from non-Western countries [Source: FastMarkets].

Roy Bonnell, CEO & Director of Allied, commented, ‘These initial assay results are a major step forward for the Borralha Project and a clear validation of our geological model. The exceptional tungsten grades intersected in Bo_RC_14/25 place Borralha among the most exciting undeveloped critical mineral assets in Europe. As we advance toward the Mineral Resource update and Preliminary Economic Assessment, these results strengthen our confidence in Borralha’s potential to become a cornerstone of Western countries’ strategic raw material supply.’

As of July 30, 2025, Allied had completed approximately 2,500 metres of drilling across nine drill holes. Drilling operations were temporarily paused during August in compliance with seasonal fire safety restrictions and successfully resumed on September 1, 2025. The program continues to advance towards its objectives, with a clear focus on three key technical priorities:

• Expanding and upgrading the existing tungsten resource in accordance with National Instrument 43-101-Standards of Disclosure for Mineral Projects (‘NI 43-101’), with emphasis on increasing tonnage and converting Inferred Resources to Indicated Resources classification; and

• Collecting representative material for metallurgical testing, to validate marketable concentrate grades at 65% WO₃.

Overview of Drilling to Date:

• Drill hole Bo_RC_14/25 confirmed the presence of high-grade tungsten mineralization, with visual observations of massive wolframite supporting the interpretation of a potentially enriched corridor within the breccia-hosted system.

• Drill hole Bo_RC_15/25 aimed to access the west deep step-out potential at the south area of the breccia. Visual inspection confirmed the presence of breccia together with evidence of wolframite. Assays of this drill hole are ongoing.

• Drill holes Bo_RC_16/25 and Bo_RC_17/25 are infill drillholes to increase the Resource resolution and knowledge of the interchange between the large bulkable medium grade central backbone of the south area of the breccia, into the medium size high-grade corridors deeper to west. As expected, breccia with visible mineralization was visible, and the pending assays results will provide proper interpretation.

• Drill holes Bo_RC_18/25 , Bo_RC_19/25 and Bo_RC_26/25 are infill drillholes at the central and lower grade area of the Breccia. Here the goal was to improve the Resource model resolution and grade at this section. Some visible mineralization was identified, but the pending assays are necessary to confirm the potential upgrade.

• Drill holes Bo_RC_21/25 and Bo_RC_22/25 are drillholes meant to step-out the previous discovery of a potential new high-grade large corridor at the Bo_RC_11/24 drill hole that has no resources due to lack of composites pairs. Both drillholes encountered continuous breccia and multiple zones with visible sulphides and polymetallic indicators, including wolframite and chalcopyrite, reinforcing the continuity and depth of the mineralized system. Pending assays will confirm if a new economical vector for considerable Resource expansion is present at the north deep area of the breccia.

Table 1 – Collar locations

Figure 1 – Drill collar plan showing planned holes for the ongoing 5,728 m RC campaign at the Borralha Project. The red outline delineates the main mineralized breccia zone.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11632/265023_a4b3ded4f486c9d6_001full.jpg

All samples from the nine completed drill holes have been dispatched to ALS Laboratories in Seville for geochemical analysis, with initial assay results now beginning to return. The first results received from hole Bo_RC_14/25 confirm the presence of tungsten mineralization, consistent with earlier visual observations. Additional assay results from the remaining holes are expected over the coming weeks.

Building on Visual Confidence with Excellent Drill Results

The early stages of the 2025 RC drill campaign at Borralha Project were marked by highly encouraging visual intercepts across several holes. With the arrival of the first assays, that confidence has now been materially validated. Initial data confirms not only the continuity of breccia-hosted mineralization but also suggests that the Borralha Project hosts very high-grade tungsten intercepts as described below.

The results from the Bo_RC_14/25 drill hole represents a major technical milestone for Allied. The grade and length of the intercept reinforce the Company’s position that the Borralha Project is one of Europe’s most strategically important undeveloped tungsten assets. These assays will feed directly into the upcoming Mineral Resource Estimate (MRE) and Pre-Economic Assessment (PEA), both of which are expected to underpin Allied’s near-term development plans.

Assay Highlights from Bo_RC_14/25 include, from 252.00m downhole:

• 12.0 m @ 4.27% WO₃*, including

• 6.0 m @ 8.39% WO₃*

*WO₃ Tungsten trioxide % converted from W ppm multiplied by 1.2611 stoichiometric factor. W ppm results are from ALS Laboratories analytical method ME-MS81. For the ME-MS81 above detection limit of >10,000 ppm assays, ME-XRF15c is used.

A geological cross section for hole Bo_RC_14/25 is presented below, illustrating the location of the high-grade intercept within the broader breccia-hosted mineralized zone. The section highlights the continuity of the tungsten-bearing structures, the correlation with visual observations, and the potential for further extensions at depth and along strike.

Figure 2 – Geological Cross-Section for hole Bo_RC_14/25.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11632/265023_a4b3ded4f486c9d6_002full.jpg

Technical Information and Quality Control / Quality Assurance

Drillholes were all conducted with RC diamond bit drilling. All sample bags were pre-marked prior to drilling. They were each identified with an internal sequence number used as a sample identifier, both the sample for analysis and its reject samples. Each analytical sample bag is filled with a portion of 2 m length of drilled rock and each reject sample bag will take another representative portion of 1 m length of drilled rock. Thus, each two reject samples will be the equivalent to one assay sample. The splitting is done as part of the drilling process using a rotary splitter.

The analytical samples were collected directly from the rig splitter according to a sampling list that documented the metres and sampling sequence for each drill hole. This list also identified which sample should be collected in duplicate as well as which certified reference material (‘CRM’) were to be placed in the numerical sequence. The CRMs were randomly inserted at every 20 samples (5%), and duplicate samples were collected every 20 samples (5%). Thus, there’s an alternating CRM and Duplicate every 10th sample.

The analytical and reject samples are then transported in boxes from the drilling site to the core shed by a designated employee. The analytical samples were stored on labelled palettes for later direct shipping to the ALS preparation laboratories in Seville, Spain. Later, the pulp and reject samples were securely stored in the logging room on the property.

To the best of the Company’s knowledge, no drilling, sampling, recovery, or other factors exist that would materially compromise the accuracy or reliability of the referenced data

RC samples were prepared by ALS preparation laboratory in Seville, Spain, crushing the sample with up to 70% of the material passing a 2 mm screen, and then each sample was split to 250 g and pulverized with hardened steel to 85% passing a 75 μm screen. Each resultant sub-sample was then direct shipped to their certified assay laboratory Dublin Road, Loughrea, Co., Ireland.

The samples are analyzed by the ME-MS81 ALS method that applies a lithium borate fusion to the sample and the result of this fusion is measured by applying an ICP-MS. It is also applied to the ALS ME-4ACD81 procedure which reports base metals by a 4-acid digestion and later analyzed by an ICP-MS procedure. Any over-limit tungsten values were re-analysed at the same laboratory by a W-XRF15b procedure that uses a lithium borate fusion with an XRF analysis. The analytical results were then securely emailed to the Company.

Qualified Person’s Statement and Data Verification

The scientific and technical information in this news release has been reviewed and approved by Mr. Vítor Arezes, BSc, MIMMM (QMR), Vice-President Exploration of Allied Critical Metals, who is a Qualified Person for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Arezes is not independent of Allied Critical Metals as he is an officer of the Company.

The Qualified Person has verified the data disclosed herein by reviewing core logs and drill records, validating collar and downhole survey data, assessing database integrity, reviewing assay QA/QC (CRMs, blanks, and duplicates), and reconciling reported intervals to the original laboratory certificates. The verification did not identify any factors that would materially affect the accuracy or reliability of the information presented.

Project Momentum and Strategic Positioning

The drill program is a cornerstone of Allied’s strategy to position Borralha as Europe’s leading high-grade tungsten development, combining grade, scale, and near-term production potential in a secure EU jurisdiction. With tungsten designated as a Critical and Strategic Raw Material by both the European Union and the United States, Borralha directly addresses Western supply vulnerabilities at a time of rising global demand and constrained Chinese exports. As one of the only advanced-stage tungsten assets in Western Europe, Borralha is uniquely placed to support defense readiness, AI, EVs, and the EU’s Critical Raw Materials Act objectives for domestic sourcing.

This campaign also supports Allied’s permitting and development milestones, including the submission of additional technical information in response to follow-up questions from the Environmental Impact Assessment (EIA) evaluation committee–a standard step in the review process. The Company expects to deliver its formal response by third quarter of 2025, with a final decision anticipated in fourth quarter of 2025 or early first quarter of 2026.

Next Steps

Allied is now preparing to complete the final 1,600 metres of drilling to reach the planned total of 4,200 metres for the current Phase 1 campaign. The remaining holes, including Bo_RC_20/25, Bo_RC_23/25, and Bo_RC_24/25 and Bo_RC_25/25, have been selected based on strong visual intercepts, structural continuity, and geological insights from previously completed drilling. Minor adjustments to the drill plan are being implemented to maximize coverage of key mineralized corridors while maintaining program efficiency. In addition, a further 1,528 metres drilling is now also planned for the fourth quarter of 2025 to build off of the successes in July.

Following a scheduled pause in August due to the regional fire season, drilling resumed on September 1 with two rigs operating simultaneously. The campaign has quickly regained momentum and remains on track to complete the targeted meterage within the planned timeframe. Field operations continue to run efficiently, positioning Allied to generate the technical data required for the upcoming Mineral Resource Estimate (MRE) update and Preliminary Economic Assessment (PEA).

New Advisory Role; Other Corporate 

The Company is announcing that Colin Padget has resigned his position as director effective September 1, 2025, but is being retained as an advisor to the Company going forward. The Company wishes to thank Colin for his contributions and looks forward to his continued involvement as an advisor to the Company.

In addition, the Company prematurely announced the grant of stock options (Options) and restricted share units (RSUs) in its news release dated September 2, 2025. In light of the drill results in this press release, the Company is postponing the grant to a future date.

ON BEHALF OF THE BOARD OF DIRECTORS,

‘Roy Bonnell’

Roy Bonnell
CEO and Director

About Tungsten

It is critical to understand the difference between wolframite mineralization of tungsten and scheelite mineralization of tungsten. Scheelite often reports higher grades (0.3%-1.0% WO₃) but is more costly and complex to process, requiring flotation methods with higher capital and operating expenditures and lower recoveries.ⁱ In contrast, wolframite, which is the focus of Allied Critical Metals can be processed more efficiently using gravity and magnetic separation, resulting in lower costs and higher recoveries, making lower grades (~0.15%-0.25% WO₃) economically viable in wolframite deposits.ⁱⁱ For example, a wolframite deposit with 0.4% WO₃ over 3 metres can be more profitable than a scheelite deposit with 0.7% WO₃ over the same interval due to lower processing costs and higher recovery rates.ⁱⁱⁱ

In Western exploration drilling, scheelite tungsten grades typically range from 0.3% to 1.0% WO₃.^iv The cut-off grade for economic viability is generally around 0.1% WO₃, with highly efficient operations able to mine at grades as low as 0.08% WO₃.^v Skarn deposits, a common deposit type, typically range from 0.34% to 1.4% WO₃, with intercepts of 0.4% WO₃ over 1-5 metres considered very good and 0.7% WO₃ over 1-3 metres considered very high-grade.^vi Intercept lengths can range from 0.6 metres to over 100 metres, with longer intercepts at strong grades generally preferred for economic mining. For example, two leading western tungsten mines demonstrate the standards for scheelite with results like 9.5 m @ 0.76% WO₃ and 14.1 m @ 0.58% WO₃^vii at the Sangdong Mine* in South Korea and 18 m @ 1.00% WO₃ reported at the Mt. Carbine Tungsten Project* in Australia.^viii

In contrast, the Panasqueira Mine* in Portugal typically reports 1-5 m @ 0.25-0.5% WO₃ as a wolframite deposit^ix A result like 0.5% WO₃ over 3 metres is considered typical and strong within Western tungsten exploration standards, especially for wolframite tungsten mineralization.^x

To understand tungsten, it is also important to recognize that China, Russia, and North Korea control approximately 87% of the world’s tungsten supply, using cheap labour and minimal environmental standards in authoritarian regimes.^xi As a result, production costs and grades in these countries are not comparable to Western projects, which operate under higher labour, ESG, and energy cost structures.^xii Evaluating projects outside these regions provides a realistic benchmark for what grades and intercepts are economically viable while supporting secure, NATO-aligned supply chains.^xiii

For Allied, this context is significant, as the Company’s grades, ranging from 0.2% to 1.0% WO₃, are considerable against global wolframite benchmarks, with intercepts that meet or exceed typical Western results.^xiv The Company’s focus on wolframite will correspond to lower processing costs and higher recoveries, supporting project economics even at lower grades.^xv Allied’s operations in secure jurisdictions align with Western critical mineral needs, avoiding geopolitical risks associated with China and Russia while positioning the Company to benefit from growing tungsten demand across defense, aerospace, and electrification sectors.^xvi Allied’s strong grades, low-cost processing advantages, and secure location position it as a strategic and responsible tungsten exploration company, well placed to support robust project economics in a rising-demand market.^xvii

*The results cited for the Sangdong Mine, the Panasqueira Mine and the Mt. Carbine Tungsten Project are based on public disclosures and are presented for industry benchmarking and comparison purposes only. Allied has no interests in those mineral projects.

About Allied Critical Metals Inc.

Allied Critical Metals Inc. (CSE: ACM,OTC:ACMIF) (OTCQB: ACMIF) (FSE: 0VJ0) is a Canadian-based mining company focused on the expansion and revitalization of its 100% owned past producing Borralha Tungsten Project and the Vila Verde Tungsten Project in northern Portugal with advantageous wolframite tungsten mineralization. Tungsten has been designated a critical metal by the United States and other western countries, as they are aggressively seeking friendly sources of this unique metal. Currently, China, Russia and North Korea represent approximately 86% of the total global supply and reserves. Tungsten is used in a variety of industries such as defense, automotive, manufacturing, electronics, and energy.

Please visit our website at www.alliedcritical.com.

Also visit us at:
LinkedIn: https://www.linkedin.com/company/allied-critical-metals-inc
X: https://x.com/@alliedcritical/
Instagram: https://www.instagram.com/alliedcriticalmetals/

The Canadian Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking Information

This news release contains ‘forward-looking statements’, including with respect to the use of proceeds. Wherever possible, words such as ‘may’, ‘would’, ‘could’, ‘should’, ‘will’, ‘anticipate’, ‘believe’, ‘plan’, ‘expect’, ‘intend’, ‘estimate’, ‘potential for’ and similar expressions have been used to identify these forward-looking statements. These forward-looking statements reflect the current expectations of the Company’s management for future growth, results of operations, performance and business prospects and opportunities and involve significant known and unknown risks, uncertainties and assumptions, including, without limitation, those listed in the Company’s Listing Statement and other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed under the Company’s profile at www.sedarplus.ca ). Examples of forward-looking statements in this news release include, but are not limited to, statements regarding the proposed timeline and use of proceeds for exploration and development of the Company’s mineral projects as described in the Company’s Listing Statement, news releases, and corporate presentations. Should one or more of these risks or uncertainties materialize or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this news release. These factors should be considered carefully, and prospective investors should not place undue reliance on the forward-looking statements. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements and reference should also be made to the Company’s Listing Statement dated April 23, 2025 and news release dated May 16, 2025, and the documents incorporated by reference therein, filed under its SEDAR+ profile at www.sedarplus.ca for a description of additional risk factors. The Company disclaims any intention or obligation to revise forward-looking statements whether as a result of new information, future developments or otherwise, except as required by law.

ⁱ International Tungsten Industry Association (ITIA). (2023). Tungsten: Global industry, markets & outlook. Retrieved from https://www.itia.info

ⁱⁱ Almonty Industries Inc. (2023a). Investor presentations. Retrieved from https://almonty.com/investors/#presentations

ⁱⁱⁱ International Tungsten Industry Association (ITIA). (2023). Tungsten: Global industry, markets & outlook. Retrieved from https://www.itia.info

^iv US Geological Survey (USGS). (2024). Mineral commodity summaries: Tungsten. Retrieved from https://pubs.usgs.gov/periodicals/mcs2024/mcs2024-tungsten.pdf

^v Almonty Industries Inc. (2023a). Investor presentations. Retrieved from https://almonty.com/investors/#presentations

^vi British Geological Survey (BGS). (2023). Tungsten fact sheet. Retrieved from https://www.bgs.ac.uk/downloads/start.cfm?id=1408

International Tungsten Industry Association (ITIA). (2023). Tungsten: Global industry, markets & outlook. Retrieved from https://www.itia.info

^vii Almonty Industries Inc. (2023b). SangDong project overview. Retrieved from https://almonty.com/projects/sangdong/

^viii EQ Resources Limited. (2023). Mt Carbine project ASX announcements. Retrieved from https://www.eqresources.com.au

^ix International Tungsten Industry Association (ITIA). (2023). Tungsten: Global industry, markets & outlook. Retrieved from https://www.itia.info

^x British Geological Survey (BGS). (2023). Tungsten fact sheet. Retrieved from https://www.bgs.ac.uk/downloads/start.cfm?id=1408

^xi International Tungsten Industry Association (ITIA). (2023). Tungsten: Global industry, markets & outlook. Retrieved from https://www.itia.info

US Geological Survey (USGS). (2024). Mineral commodity summaries: Tungsten. Retrieved from https://pubs.usgs.gov/periodicals/mcs2024/mcs2024-tungsten.pdf

^xii Almonty Industries Inc. (2023a). Investor presentations. Retrieved from https://almonty.com/investors/#presentations

OECD. (2021). OECD due diligence guidance for responsible supply chains of minerals from conflict-affected and high-risk areas. Retrieved from https://www.oecd.org/corporate/mne/mining.htm

^xiii European Commission. (2020). Critical raw materials for strategic technologies and sectors in the EU: A foresight study. Retrieved from https://ec.europa.eu/docsroom/documents/42849

^xiv Allied Internal Reports. (2024). Allied exploration and grade benchmark updates.

^xv Almonty Industries Inc. (2023a). Investor presentations. Retrieved from https://almonty.com/investors/#presentations

^xvi European Commission. (2023). Critical raw materials act. Retrieved from https://single-market-economy.ec.europa.eu/sectors/raw-materials/critical-raw-materials_en

^xvii International Tungsten Industry Association (ITIA). (2023). Tungsten: Global industry, markets & outlook. Retrieved from https://www.itia.info

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/265023

Apollo Silver Corp. (‘ Apollo ‘ or the ‘ Company ‘) (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF0) is pleased to announce the results of an updated independent Mineral Resource estimate (‘MRE’) for its Calico Silver Project (‘Calico’ or the ‘Calico Project’) located in San Bernardino County, California. Total silver (‘Ag’) Measured & Indicated (‘M&I’) tonnes at the Waterloo property have increased by 61% to a total of 55 million tonnes (‘Mt’) at a grade of 71 grams per tonne (‘gt’) Ag for a total content of 125 million troy ounces (‘Moz’). This represents a 14% increase in Ag ounces compared to the previous MRE (dated March 6, 2023). In addition to updating the gold resource at Waterloo, inaugural barite (‘BaSO4’) and zinc (‘Zn’) resources have been included in both the Indicated and Inferred categories.

News Highlights

• New combined Measured and Indicated total of 55 Mt at a grade of 71 g/t Ag for a total of 125 Moz Ag
  • 61% increase in tonnage and a 14% increase in Ag ounces representing an increase of 15 Moz contained Ag
• Inferred total of 0.6 million tonnes at a grade of 26 g/t Ag for a total of 0.51 Moz contained Ag
• Sensitivity analyses show resiliency of the Ag resource to changes in metal price
• Inaugural BaSO ₄ and Zn resources are estimated as:
  • Indicated: 36 Mt @ 7.4% BaSO ₄ and 0.45% Zn for a total content of 2.7 Mt BaSO ₄ and 354 million pounds (‘Mlbs’) Zn
  • Inferred: 17 Mt @ 3.9% BaSO ₄ and 0.71% Zn for a total content of 0.65 Mt BaSO ₄ and 258 Mlbs Zn
• Gold ounces have increased by 86% in the Inferred category for a new total of 17 Mt at a grade of 0.25 g/t Au and total Au content of 0.13 Moz
• One single pit for all metals at Waterloo deposit with a low strip ratio of 0.8:1
• The increased quantities of Ag and Au, the addition of two new critical minerals, and the larger single pit with low strip ratio has derisked the Calico Project

Further Growth Opportunities

• Silver : There remain further opportunities to expand the Ag mineralization below the base of the 2025 MRE in the northern region of the Waterloo deposit.
• Barite and Zinc : The indicated and inferred mineral resources for BaSO ₄ and Zn show clear potential to be upgraded into M&I via infill drilling and re-assays.
• Gold : Mineralization remains open along strike and at depth. Future work will target additional mineralization along strike with a particular focus on the high-grade structures.
• Langtry Property : Many areas under the Quaternary cover remain untested. In addition, the potential for BaSO ₄ and other metals have not yet been evaluated in detail at Langtry.

Ross McElroy, President and CEO for Apollo, commented: ‘ The Calico Project continues to increase in value, scale and optionality. Already boasting one of the largest undeveloped silver deposits in the US, new data confirms the presence of additional minerals, such as barite and zinc, which are included on the US critical mineral list. These findings will contribute to our project development plans, including an upcoming Preliminary Economic Assessment (PEA). Notably, much of the mineralization occurs at shallow depths, resulting in a low economic strip rate. With a substantial land position, there is strong potential for further discoveries at Calico. ‘

CALICO PROJECT 2025 MINERAL RESOURCE ESTIMATE

The 2025 MRE focused on upgrading and expanding the Waterloo resource estimate from that declared in 2023 (see news release dated March 6, 2023). The most significant change in the 2025 MRE is the addition of BaSO4 and Zn to the Ag and Au mineral resources for the Waterloo deposit and updated mineral resource estimate cut-off (‘COG’) grades for both the Waterloo and Langtry deposits. The Waterloo MRE now contains 125 Moz Ag in 55 Mt at an average grade of 71 g/t Ag in M&I categories, and 0.51 Moz Ag in 0.6 Mt at an average grade of 26 g/t Ag in the Inferred category. The Langtry MRE now contains 57 Moz Ag in 24 Mt at an average grade of 73 g/t Ag in the Inferred category.

In addition to its robust Ag resource, the Waterloo resource now contains 2.7 Mt BaSO4 and 354 Mlbs Zn in 36 Mt at an average grade of 7.4 % BaSO4 and 0.45 % Zn in the Indicated category, and 0.65 Mt BaSO4 and 258 Mlbs Zn in 17 Mt at an average grade of 3.9 % BaSO4 and 0.71 % Zn in the Inferred category. Also, 0.13 Moz oxide Au contained in 17 Mt at an average grade of 0.25 g/t Au in the Inferred category. Oxide Au mineralization has been drilled over 1,000 m strike length and remains open in multiple directions. Figures 1 and 2 present the mineral resource block model grade and classification for each of the metals, respectively.

Mineralization at Waterloo and Langtry is shallow and shows high continuity along the 1.8 km long strike length at Waterloo and 1.25 km at Langtry of the deposit. The 2025 MRE is calculated to a maximum open pit depth of approximately 192 m (630 ft) at Waterloo and approximately 149 m (490 ft) at Langtry for all metals. An open pit optimization is used to determine reasonable prospects for economic extraction, the calculated waste to mineralization tonnage ratio for the total resource at Waterloo is 0.8:1and 2.8:1 at Langtry.

Table 1: Calico Project 2025 MRE. Effective June 30, 2025.

• Ounces reported as troy ounces.
• Base-case resource estimate reported in Table 1 using 47 g/t Ag equivalent (‘AgEQ’) and 0.17 g/t Au cut-off grades for Waterloo and 43 g/t Ag for Langtry.
• CIM definitions are followed for classification of the mineral resource.
• For the Waterloo Property, a AgEQ cut-off grade was calculated using the following variables: surface mining operating costs (US$2.8/st), processing costs plus general and administrative cost (US$26.5/st), Ag price (US$28/oz), BaSO ₄ price (US$120/t), Zn price (US$1.22/lb), Au price (US$2,451/oz), and metal recoveries (Ag 65%, Au 80%, BaSO ₄ 85%, Zn 80%). For the Waterloo Property gold-only resources the Au cut-off grade was calculated using above Au price, Au recovery and gold-only processing costs plus general and administrative cost (US$8.2/st).
• For the Langtry Property, a silver-only equivalent cut-off grade was calculated using above Ag price, Ag recovery and silver-only processing costs plus general and administrative cost (US$24/st).
• Resources reported in Table 1 are constrained to within a conceptual economic pit shell targeting mineralized blocks within the specified cutoff grade limits shown in the table. Specific gravity for the mineralized zone is fixed at 2.44 t/m ³ (13.13 ft ³ /st). For the Waterloo Property only the following drillhole grades were capped prior to estimation: Ag 450 g/t, Au 2 g/t, Ba 31% and Zn 7%.
• Totals may not represent the sum of the parts due to rounding.
• ^1,2 The 2025 MRE has been prepared by Derek Loveday, P. Geo., of Stantec Consulting Services Ltd., an independent Qualified Person, in co-operation with Mariea Kartick, P.Geo. (independent Qualified Person for drilling data QA/QC) and Johnny Marke P.G. (independent Qualified Person for resource estimation). The 2025 MRE was produced in conformance with NI 43-101. Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that any mineral resource will be converted into a mineral reserve.
• No drilling was completed on the Waterloo Property and Langtry Property since the declaration of the 2023 MRE for Waterloo and 2022 MRE for Langtry. The 2025 MRE update accounts for changes in commodity prices, mining costs since 2022/2023, and barite testing of existing drill samples from the Waterloo Property.

Figure 1: Calico Project, 2025 Mineral Resource Block Model Grade

Figure 2: Calico Project, 2025 Mineral Resource Classification

Data Input

The 2025 MRE considered drilling information up to and including the most recently completed program in 2022, as well as geological information from Apollo’s 2021, 2022 and 2025 exploration activities. Drilling data supporting the 2025 MRE includes information from historic drilling data from 258 holes (18,679 m/61,282 ft), and 2022 drilling data from 85 holes (9,729 m/31,918 ft) for a total of 343 holes (28,407 m/93,199 ft). Nominal drill hole spacing is 30 x 46 m (100 x 150 ft) within the Measured portion of the 2025 MRE. Of the drill data set used, 332 holes are rotary or reverse circulation holes, and 11 holes are diamond drill holes.

For the 2025 MRE, additional re-assaying of 7,431 historical and recent drill pulps by X-Ray Fluorescence for barium (‘Ba’) and barium oxide (‘BaO)’) was completed or a total of 7,893 Ba samples used for estimation. The Ba as well as existing Zn assay (4-acid or aqua-regia) assay results were subject to a comprehensive quality assurance/quality control (‘QAQC’) program that was reviewed by Mariea Kartick, P.Geo. (Stantec), an independent ‘Qualified Person’ (or ‘QP’) as such term is defined within National Instrument 43-101 – Standards of Disclosure for Mineral Projects (‘NI 43-101’). In addition, detailed surface mapping and rock sampling were completed in the Burcham area of the Waterloo Property. The mapping and sampling provided a better understanding of the extent of the Au mineralization at surface and within the Pickhandle Formation as well as helped refine orientations of high-angle gold-bearing structures in the geologic model.

No additional Ag and Au assay data was used for the 2025 MRE from that acquired for the 2023 MRE. Material changes in Ag and Au resource in the 2025 MRE from the 2023 MRE are due to changing economics from 2023 to 2025 and inclusion of BaSO4 and Zn in the overall resource for the Waterloo deposit. Verification of drilling exploration data used for the 2025 MRE was performed by Mariea Kartick, P.Geo. (Stantec), an independent QP.

Cut-Off Grade and Reasonable Prospects for Eventual Economic Extraction

For the Waterloo MRE two base-case cut-off grades are used. A silver equivalent (‘AgEQ’) cut-off grade of 47 g/t was calculated for a combined recovery of Ag, BaSO4, Zn and Au and where the combined mineralization of these metals was less than AgEQ COG, gold-only recovery were evaluated for a Au COG grade of 0.17 g/t. For Langtry silver-only recovery is considered for a lower Ag COG grade of 43 g/t. The above cut-off grades were determined using the following assumptions:

• Silver price of US$28 per troy ounce, gold price of US$2,451 per troy ounce, barite price of US$120 per mt and zinc price of US$ 1.22 per pound
• Combined metal (Ag, BaSO ₄ , Zn, Au) processing costs of US$26.5 per short ton;
• Gold only processing cost of US$8.2 per short ton
• Silver only processing cost of US$24 per short ton
• Included in all processing costs are general and administrative costs of US$3 per short ton;
• Mining costs of US$2.8 per short ton; and
• Silver recovery of 65%, BaSO ₄ recovery of 85%, Zn recovery of 80% and Au recovery of 80%.

Metal recoveries are based on results from the 2022 Metallurgical Test Program (see news releases dated February 14, 2023, February 23, 2023 and May 2, 2023) and published recoveries for comparative operations. Silver, Zn and Au prices were calculated by averaging published monthly commodity prices from the last 24 months up to June 2025 based on data from the World Bank. Barite price was based on historical BaSO4 pricing trends from 2013 to 2023, the last year when publicly available barite pricing data was available. Changes in metal prices, optimized processing parameters and/or improved metal recoveries will all impact cut-off grade and any resultant MRE.

Reasonable prospects for eventual economic extraction were assessed by calculating recovered block revenues for silver grade blocks above cut-off grade, less surface mining costs, and generating an optimized Hexagon© MinePlan Pseudoflow economic pit shell at constant slope of 45 degrees that is constrained to within the property claim boundaries.

Sensitivity Analysis

A sensitivity analysis was undertaken to examine the impacts of varying the cut-off grades for AgEQ grades and tonnes for the Waterloo deposit within the base case economic pit shell and for Ag only grades and tonnes in the Langtry deposit. The available tonnes and average grade for each COG from within the 2025 MRE economic pit shell is shown in Table 2 for Waterloo and in Table 3 for Langtry.

Table 2: Sensitivity analysis of the grade and tonnage relationships at varying pit-constrained silver equivalent cut-off grades for the Waterloo Property. Effective June 30, 2025.

Table 3: Sensitivity analysis of the grade and tonnage relationships at varying pit-constrained silver equivalent cut-off grades for the Langtry Property. Effective June 30, 2025.

Resource Estimation Methodology

The 2025 MRE was prepared in accordance with the requirements of NI 43-101 and applicable guidelines disseminated by CIM. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. The quantity and grade of reported Inferred resources are uncertain in nature as there has been insufficient exploration to define these Inferred Resources as Indicated or Measured.

The 2025 MRE resource block model was oriented along regional strike of mineralization controlling range front fault (Calico fault) and bedding, at approximately 045 degrees. Metal grades were estimated using ordinary kriging into a 20 ft x 20 ft x 10 ft block model using 5 ft drill hole composites and a bulk density of 2.44 t/m ³ (13.13 ft ³ /st). The block models are constrained to the west by the Calico range front fault and to the east by the contact between the mineralized Barstow formation sedimentary rocks and the Pickhandle formation rhyolitic rocks. Both structures are mineralization controlling features. A grade capping evaluation was performed, and for the Waterloo Property only the following drillhole grades were capped prior to estimation: Ag 450 g/t, Au 2 g/t, Ba 31% and Zn 7%. No grade capping was deemed necessary for the Langtry Property.

The MRE was internally audited, and peer reviewed by Stantec prior to being released to the Company and being declared final. Further, the Company completed an internal review of the 2025 MRE data supplied by Stantec. A full description of the data and the data verification process will be detailed in the technical report associated with the 2025 MRE, which will be prepared in accordance with NI 43-101 Standards of Disclosure for Mineral Projects and filed within 45 days of this news release on the Company’s website and on SEDAR+ at www.sedarplus.ca .

SAMPLING AND QUALITY ASSURANCE/QUALITY CONTROL

Additional sampling since the 2023 MRE and prior to the 2025 MRE included re-assaying of 7,797 drill pulps (primary plus QAQC) by X-Ray Fluorescence for Ba and BaO at ALS in Reno, Nevada and a metallurgical testing program for barite from five PQ drill core composites was completed at McClelland Laboratories Inc., in Sparks, Nevada. Results from the metallurgical test were presented in a prior News Release (May 2, 2023).

Pulps from historical and the 2022 drill program were submitted to ALS Reno for sample preparation and Ba analysis. Historical pulps were homogenized by light pulverizing (HOM-01) and the pulverisers were washed between samples (WSH22). After preparation, splits of prepared pulps are securely shipped to ALS Vancouver, British Columbia for analysis. Most of the pulps were analyzed using X-Ray Fluorescence Spectroscopy (‘XRF’) methods ME-XRF10, with the exception of a few samples that were analysed with ME-XRF15c (samples with high sulphide content) or ME-XRF26 (selected samples for a more complete suite of elements). The detection limits for Ba with ME-XRF10 is between 0.01 and 45%, between 0.01 and 50% with ME-XRF15C and for BaO with ME-XRF26 0.01-66%. All analyses were completed at ALS Vancouver.

The Company maintains its own comprehensive quality assurance and quality control (QA/QC’) program to ensure best practices in sample preparation and analysis for samples. The QA/QC program includes the insertion and analysis of certified reference materials, commercial pulp blanks, preparation blanks, and field duplicates to the laboratories. Apollo’s QA/QC program includes ongoing auditing of all laboratory results from the laboratories. The Company’s Qualified Person is of the opinion that the sample preparation, analytical, and security procedures followed are sufficient and reliable. The Company is not aware of any drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data reported herein.

ABOUT THE PROJECT

Location

The Calico Project is located in San Bernardino County, California and comprises the adjacent Waterloo, Langtry, and Mule properties which total 8,283 acres. The Calico Project is 15 km (9 miles) from the city of Barstow, 5 km (3 miles) from commercial electric power and has an extensive private gravel road network spanning the property.

Geology and Mineralization

The Calico Project is situated in the southern Calico Mountains of the Mojave Desert, in the south-western region of the Basin and Range tectonic province. This 15 km (9 mile) long northwest-southeast trending mountain range is dominantly composed of Tertiary (Miocene) volcanics, volcaniclastics, sedimentary rocks and dacitic intrusions. Mineralization at Calico comprises high-level low-sulfidation silver-dominant epithermal vein-type, stockwork-type and disseminated-style associated with northwest-trending faults and fracture zones and mid-Tertiary (~19-17 Ma) volcanic activity. Calico represents a district-scale mineral system endowment with approximately 6,000 m (19,685 ft) in mineralized strike length controlled by the Company. Silver and gold mineralization are oxidized and hosted within the sedimentary Barstow Formation and the upper volcaniclastic units of the Pickhandle formation along the contact between these units.

The 2025 MRE for Waterloo Property comprises 125 Moz Ag in 55 Mt at an average grade of 71 g/t Ag (M&I categories), 0.51 Moz Ag in 0.60 Mt at an average grade of 26 g/t Ag (Inferred category), 130,000 oz gold in 17 Mt at an average grade of 0.25 g/t gold (Inferred category), 2.7 Mt BaSO4 and 354 Mlbs Zn in 36 Mt at an average grade of 7.4 % BaSO4 and 0.45 % Zn (Indicated category), and 0.65 Mt BaSO4 and 258 Mlbs Zn in 17 Mt at an average grade of 3.9 % BaSO4 and 0.71 % Zn (Inferred category). The 2025 MRE for Langtry property comprises 57 Moz Ag in 24 Mt at an average grade of 73 g/t Ag (Inferred category).

QUALIFIED PERSONS

The scientific and technical data contained in this news release was reviewed, and approved by Derek Loveday, P. Geo., Johnny Marke P.G. and Mariea Kartick, P.Geo., from Stantec and are Qualified Persons independent of the Company. Mr. Loveday is a registered Professional Geoscientist in Alberta, Canada, and Mr. Marke is a registered Professional Geologist in Oregon, USA and both are responsible for the mineral resource estimation. Ms. Kartick is a registered Professional Geoscientist in Ontario, Canada and is responsible for data QA/QC.

This news release has also been reviewed and approved by Isabelle Lépine, M.Sc., P.Geo., Apollo’s Director of Mineral Resources. Ms. Lépine is a registered Professional Geoscientist in British Columbia, Canada and is not independent of the Company.

ABOUT Apollo Silver Corp.

Apollo Silver is advancing one of the largest undeveloped primary silver projects in the US. The Calico Project hosts a large, bulk minable silver deposit with significant barite credits – a critical mineral essential to the US energy and medical sectors. The Company also holds an option on the Cinco de Mayo Project in Chihuahua, Mexico, which is host to a major carbonate replacement (CRD) deposit that is both high-grade and large tonnage. Led by an experienced and award-winning management team, Apollo is well positioned to advance the assets and deliver value through exploration and development.

Please visit www.apollosilver.com for further information.

ON BEHALF OF THE BOARD OF DIRECTORS

Ross McElroy
President and CEO

For further information, please contact:

Email: info@apollosilver.com

Telephone: +1 (604) 428-6128

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.

This news release includes ‘forward-looking statements’ and ‘forward-looking information’ within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the potential of the Calico Project and its overall investment attractiveness; the expectation that the Calico Project will continue to increase in value, scale and optionality; the potential economic significance of the updated mineral resource estimate, including the newly defined barite and zinc resources in addition to silver and gold; the potential recovery rates; the potential to further expand the resource estimate and upgrade its confidence level, including prospective silver, gold, barite and zinc mineralization on strike and at depth; the potential impact of barite and zinc being designated as critical minerals in the United States; assumptions regarding mineralization at shallow depths and strip ratios; timing and execution of future planned drilling, exploration, preliminary engineering and additional metallurgical activities; timing of commencement and completion of a preliminary economic assessment or other technical studies; the potential for additional discoveries and overall project development; and the Company’s ability to advance, develop, and permit the Calico Project. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as ‘anticipate’, ‘believe’, ‘plan’, ‘estimate’, ‘expect’, ‘potential’, ‘target’, ‘budget’ and ‘intend’ and statements that an event or result ‘may’, ‘will’, ‘should’, ‘could’ or ‘might’ occur or be achieved and other similar expressions and includes the negatives thereof.

Forward-looking statements are based on the reasonable assumptions, estimates, analysis, and opinions of the management of the Company made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of the Company believes to be relevant and reasonable in the circumstances at the date that such statements are made. Forward-looking information is based on reasonable assumptions that have been made by the Company as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may have caused actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks associated with mineral exploration and development; metal and mineral prices; availability of capital; accuracy of the Company’s projections and estimates; realization of mineral resource estimates, interest and exchange rates; competition; stock price fluctuations; availability of drilling equipment and access; actual results of current exploration activities; government regulation; political or economic developments; environmental risks; insurance risks; capital expenditures; operating or technical difficulties in connection with development activities; personnel relations; and changes in Calico Project parameters as plans continue to be refined. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to the price of silver, gold zinc and barite; the demand for silver, gold, zinc and barite; the ability to carry on exploration and development activities; the timely receipt of any required approvals; the ability to obtain qualified personnel, equipment and services in a timely and cost-efficient manner; the ability to operate in a safe, efficient and effective matter; and the regulatory framework regarding environmental matters, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information contained herein, except in accordance with applicable securities laws. The forward-looking information contained herein is presented for the purpose of assisting investors in understanding the Company’s expected financial and operational performance and the Company’s plans and objectives and may not be appropriate for other purposes. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws .

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