Best-to-date titanium–vanadium–iron drill results at Trapper Zone underscore Radar’s large-scale oxide system within the 160 km² Dykes River intrusive complex near tidewater in Labrador

Saga Metals Corp. (‘SAGA’ or the ‘Company’) (TSXV: SAGA,OTC:SAGMF) (OTCQB: SAGMF) (FSE: 20H), a North American exploration company focused on critical mineral discovery, is pleased to highlight a strengthened titanium thesis for its Radar Ti-V-Fe Project near the port of Cartwright, Labrador, following the Company’s best drill results to date from the Trapper Zone Phase 1 Mineral Resource Estimate (‘MRE’) drill program.

SAGA’s latest assays from the first two of eight completed MRE program drill holes at Trapper Zone demonstrate long, cumulative intervals of oxide mineralization with significant assay results of titanium dioxide (TiO₂), vanadium pentoxide (V₂O₅) and iron oxides (Fe₂O₃). This mineral assemblage is consistent with vanadiferous titanomagnetite (‘VTM’) and ilmenite mineralization that could potentially underpin multiple downstream titanium value chains and support an emerging strategic narrative: a need for resilient North American titanium supply.

SAGA believes Radar’s titanium-bearing oxide system is increasingly topical as Western governments and manufacturers focus on secure, defense-aligned supply chains for titanium metal inputs. In a January 2, 2026, MINING.com article citing Project Blue’s report ‘Metals and the Security of Nations’, titanium is characterized as a critical mineral for defense and aerospace, with supply-chain risk concentrated in titanium metal pathways (including aerospace-grade sponge capacity and certification) rather than in pigment markets. The vast majority – over 90% globally of mined titanium is processed into the pigment – a looming supply chain gap UK-headquartered market intelligence company Project Blue outlines in its report.

‘Titanium is essentially a defence metal – it can be up to 20% or more of the markets for total titanium consumption that goes into defence. An F 15 can be up to 40% in weight of titanium. There’s some serious volume going in these jet planes,’ Project Blue Founder and Director, Dr. Nils Backeberg told MINING.com in an interview. 

Saga Metals Releases Best-to-Date Drill Results at the Radar Project Confirming Robust Titanium–Vanadium–Iron Oxide Mineralization at Trapper Zone — Assay Highlights:

• Hole R-0008: 269.36 m @ 6.57% TiO₂, 0.244% V₂O₅, 36.21% Fe₂O₃ (full hole)
• Hole R-0009: 296.47 m @ 7.46% TiO₂, 0.250% V₂O₅, 39.75% Fe₂O₃ (full hole)
• High-grade intervals within the broader intercepts, including 2 m @ 13.30% TiO₂ (core sample 1800528)

Michael Garagan, CGO & Director of Saga Metals, stated: ‘The results from the first two holes at the Trapper Zone are an outstanding success, and represent the best intercepts drilled on the Radar property to date.’

What’s Different About the Radar Ti-V-Fe Project: A District-Scale Oxide System Enclosing the Entire Dykes River Intrusive Complex Potentially Forming a New North American Titanium Narrative

SAGA’s Radar Project is not a single isolated target. The Radar Property spans 24,175 hectares and hosts the entire Dykes River intrusive complex (~160 km²)—a property-scale position that is unique among Western explorers. Geological mapping, geophysics and trenching confirm oxide layering across more than 20 km of strike length and mineralization open for expansion. Drilling to date (4,250 m total) has confirmed a large mineralized layered mafic intrusion hosting VTM and ilmenite concentrations with strong titanium and vanadium grades. Drilling and geophysics validate a continuous 16+ km oxide layering trend stretching from the Hawkeye Zone to the Trapper Zone, coinciding with a strong arcuate regional magnetic-high anomaly.

Titanium Market Context: Defense and Aerospace Supply Chains Are Driving Urgency

This exploration progress is occurring against a strengthening macro backdrop for titanium as a defense and aerospace critical mineral, where supply-chain resilience—not just demand growth—has become a primary strategic driver. Titanium is deemed a critical metal by the U.S., EU and Canada and is essential for defense and aerospace applications due to its strength-to-weight ratio and corrosion resistance.

At the same time, the titanium market is structurally bifurcated: TiO₂ pigment dominates mined titanium flows, while defense and aerospace rely on titanium metal supply chains that are sensitive to geopolitics and processing constraints. Project Blue (as reported by MINING.com) notes that over 90% of mined titanium is processed into pigment, and that near-term vulnerability centers on aerospace-grade titanium sponge capacity and certification, rather than mineral availability alone. The same report highlights titanium supply-chain concentration risks, stating Russia remains a leading source of aerospace-grade titanium and that China’s share of global titanium metals has increased sharply in recent years.

Titanium market growth tailwinds

Third-party market research distributed via openPR (DataM Intelligence) forecasts the global titanium market could grow from US$30.34 billion (2024) to US$52.52 billion by 2032 (CAGR 7.10%), citing demand drivers including aerospace, defense, automotive, and renewable energy; the same release indicates Asia-Pacific leads with 45% share. openPR.com

‘SAGA’s recent assays are truly exceptional, delivering long intervals of high-grade titanium, vanadium, and iron oxide mineralization—highlighting the immense potential of this district-scale oxide system. At Saga Metals, we’re committed to advancing Radar as a strategic source of titanium right here in Labrador, bolstering resilient, domestic supply chains to meet these urgent national security needs,’ stated Mike Stier, CEO & Director of Saga Metals.

Next steps at the Radar Project:

SAGA expects to receive additional assay results next week, with remaining results shortly thereafter, and plans to mobilize crews by mid-January to initiate the 2026 phase of the Trapper Zone MRE drill program.

Figure 1: Location of the Fall 2025 phase of drilling at Trapper Zone, showing the TMI of the 2025 Trapper Zone ground magnetic survey as well as the grid for the MRE drill program to be completed in 2026.

About the Radar Ti-V-Fe Property:

The Radar Property spans 24,175 hectares and hosts the entire Dykes River intrusive complex (~160 km²), a unique position among Western explorers. Geological mapping, geophysics, and trenching have already confirmed oxide layering across more than 20 km of strike length, with mineralization open for expansion.

Vanadiferous titanomagnetite (‘VTM’) mineralization at Radar is comparable to global Fe–Ti–V systems such as Panzhihua (China), Bushveld (South Africa), and Tellnes (Norway), positioning the Project as a potential strategic future supplier of titanium, vanadium, and iron to North American markets.

Figure 2: Radar Project’s prospective oxide layering zone validated over ~16 km strike length through Fall 2025 drilling, as shown on a compilation of historical airborne geophysics as well as ground-based geophysics in the Hawkeye and Trapper zones completed by SAGA in the 2024/2025 field programs. SAGA has demonstrated the reliability of the regional airborne magnetic surveys after ground-truthing and drilling in the 2024 and 2025 field programs.

Qualified Person

Paul J. McGuigan, P. Geo., is an Independent Qualified Person as defined under National Instrument 43-101 and has reviewed and approved the technical information disclosed in this news release.

Technical Information

Samples were cut by Company personnel at SAGA’s core facility in Cartwright, Labrador. Diamond drill core was sawed and then sampled in maximum 2 m intervals. Drill hole core diameter utilized was NQ.

Core samples have been prepared and analyzed at IGS laboratory facility in Montreal, Quebec. Blanks, duplicates, and certified reference standards are inserted into the sample stream to monitor laboratory performance. Crush rejects and pulps are kept and stored in a secured storage facility for future assay verification. The Company utilizes a rigorous, industry-standard QA/QC program.

Note: Market data is sourced from https://www.openpr.com/news/4334101/titanium-market-to-reach-usd-52-52-billion-by-2032-strong-7-10 and has not been independently verified by SAGA. Mining.com released an article on January 2, 2026 referenced in this press release and is sourced from: https://www.mining.com/us-must-ramp-up-titanium-capacity-to-avoid-squeeze-project-blue-founder-says/

About Saga Metals Corp.

Saga Metals Corp. is a North American mining company focused on the exploration and discovery of a diversified suite of critical minerals that support the North American transition to supply security. The Radar Ti-V-Fe Project comprises 24,175 hectares and entirely encloses the Dykes River intrusive complex, mapped at 160 km² on the surface near Cartwright, Labrador. Exploration to date, including a total of 4,250 m of drilling, has confirmed a large and mineralized layered mafic intrusion hosting vanadiferous titanomagnetite (VTM) and ilmenite mineralization with strong grades of titanium and vanadium.

The Double Mer Uranium Project, also in Labrador, covers 25,600 hectares and features uranium radiometrics that highlight an 18km east-west trend, with a confirmed 14km section producing samples as high as 0.428% U3O8. Uranium uranophane was identified in several areas of highest radiometric response (2024 Double Mer Technical Report).

Additionally, SAGA owns the Legacy Lithium Property in Quebec’s Eeyou Istchee James Bay region. This project, developed in partnership with Rio Tinto, has been expanded through the acquisition of the Amirault Lithium Project. Together, these properties cover 65,849 hectares and share significant geological continuity with other major players in the area, including Rio Tinto, Winsome Resources, Azimut Exploration, and Loyal Metals.

With a portfolio spanning key commodities critical to the clean energy future, SAGA is strategically positioned to play an essential role in critical mineral security.

On Behalf of the Board of Directors

Mike Stier, Chief Executive Officer

For more information, contact:

Rob Guzman, Investor Relations
Saga Metals Corp.
Tel: +1 (844) 724-2638
Email: rob@sagametals.com
www.sagametals.com

Neither the TSX Venture Exchange nor its Regulation Service 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 Disclaimer
This news release contains forward-looking statements within the meaning of applicable securities laws that are not historical facts. Forward-looking statements are often identified by terms such as ‘will’, ‘may’, ‘should’, ‘anticipates’, ‘expects’, ‘believes’, and similar expressions or the negative of these words or other comparable terminology. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. In particular, this news release contains forward-looking information pertaining to the Company’s Radar Project. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage, inherent risks and uncertainties involved in the mineral exploration and development industry, particularly given the early-stage nature of the Company’s assets, and the risks detailed in the Company’s continuous disclosure filings with securities regulations from time to time, available under its SEDAR+ profile at www.sedarplus.ca. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements only as expressly required by applicable law.

Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e21bb951-27c0-4b42-8a84-30fb2b2317f1 

https://www.globenewswire.com/NewsRoom/AttachmentNg/46a5c706-d557-4027-bbbe-ec9278c19754

Blackrock Silver Corp. (TSXV: BRC,OTC:BKRRF) (OTCQX: BKRRF) (FSE: AHZ0) (‘Blackrock’ or the ‘Company’) is pleased to announce the completion of its non-brokered private placement (the ‘Offering’) previously announced on December 24, 2025. 2176423 Ontario Ltd., a company beneficially owned by Eric Sprott, purchased an aggregate of C$6,999,960 of the Offering. The Offering consisted of a total of 13,636,300 units of the Company (the ‘Units’) at a price of C$1.10 per Unit for gross proceeds of C$14,999,930. Each Unit consisted of one common share of the Company (each, a ‘Common Share’) and one-half of one Common Share purchase warrant (each whole warrant, a ‘Warrant’). Each Warrant entitles the holder thereof to acquire one Common Share at an exercise price of C$1.50 per Common Share until January 8, 2028.

Andrew Pollard, Blackrock’s President and Chief Executive Officer, commented: ‘Supported by Eric Sprott and a new cornerstone investor, this $15 million financing meaningfully strengthens our balance sheet as we advance Tonopah West toward development. As an emerging American silver developer, we are accelerating permitting and de-risking initiatives in 2026 to support the advancement of a secure, high-quality domestic source of silver for the U.S. market.’

The net proceeds of the Offering are intended to be used by the Company to fund exploration, permitting and pre-development activities on the Company’s Tonopah West project and for general working capital.

In connection with the closing of the Offering, the Company paid Research Capital Corporation (the ‘Finder‘) finder’s fees in cash totalling C$689,997 and issued to the Finder a total of 627,270 non-transferable finder’s warrants (‘Finder’s Warrants‘) in connection with the Units placed by the Finder. Each Finder’s Warrant entitles the holder thereof to acquire one Common Share at an exercise price of C$1.50 until January 8, 2028.

The participation of Eric Sprott in the Offering constituted a ‘related party transaction’, within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 (‘MI 61-101‘). The Company has relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of the related party participation in the Offering as 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 transaction, insofar as it involved the interested parties, exceeded 25% of the Company’s market capitalization (as determined under MI 61-101).

The Common Shares, Warrants and Finder’s Warrants issued in connection with the Private Placement and the Common Shares issuable upon exercise of the Warrants and Finder’s Warrants are subject to a hold period expiring on May 9, 2026.

The securities offered have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the ‘U.S. Securities Act‘) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Blackrock Silver Corp.

Backed by gold and silver ounces in the ground, Blackrock is a junior precious metal focused exploration and development company driven to add shareholder value. Anchored by a seasoned Board of Directors, the Company is focused on its 100% controlled Nevada portfolio of properties consisting of low-sulphidation, epithermal gold and silver mineralization located along the established Northern Nevada Rift in north-central Nevada and the Walker Lane trend in western Nevada.

Additional information on Blackrock Silver Corp. can be found on its website at www.blackrocksilver.com and by reviewing its profile on SEDAR at www.sedarplus.ca.

Cautionary Note Regarding Forward-Looking Statements and Information

This news release contains ‘forward-looking statements’ and ‘forward-looking information’ (collectively, ‘forward-looking statements‘) within the meaning of Canadian and United States securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements in this news release relate to, among other things: the net proceeds from the Offering and the intended use of proceeds therefrom; the advancement of the Tonopah West project towards development, including the acceleration of permitting and de-risking initiatives at the Tonopah West project; and the intention for the Tonopah West project to function as a future secure, high-quality domestic source of silver for the U.S. market.

These forward-looking statements reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include, among other things: conditions in general economic and financial markets; accuracy of assay results; geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services; future operating costs; the historical basis for current estimates of potential quantities and grades of target zones; the availability of skilled labour and no labour related disruptions at any of the Company’s operations; no unplanned delays or interruptions in scheduled activities; all necessary permits, licenses and regulatory approvals for operations are received in a timely manner; the ability to secure and maintain title and ownership to properties and the surface rights necessary for operations; and the Company’s ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.

The Company cautions the reader that forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data; general market, political, economic and industry conditions; and those factors identified under the caption ‘Risks Factors’ in the Company’s most recent Annual Information Form.

Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable 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 release.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/279847

International Lithium Corp. (TSXV: ILC,OTC:ILHMF) (OTCQB: ILHMF) (FSE: IAH) (‘ILC’ or the ‘Company’) is pleased to note the upturn in lithium prices from their low in June 2025, and wishes to give guidance and clarification to the wider investor community for what this means for ILC’s Raleigh Lake project. The financial projections and assumptions in this release are already in the public domain as they were included in the Company’s previously published disclosures.

Since June 30, 2025, the price of Lithium Carbonate, the main lithium benchmark, has risen from USD 8,535 per tonne to USD 19,747 on January 8, 2026, a rise of 131%, while the price of Spodumene Concentrate containing 6% Lithium Oxide (‘SC6’) in the same period has risen from USD 630 to USD1,800 per tonne, a rise of 185%. The source for these prices is @LithiumPriceBot on X. The rise in SC6 has well outperformed even silver since June 2025. Obviously the low in June 2025 followed a very difficult previous 2 ½ years for lithium prices. At the present exchange rate of USD=CAD 1.3880, that means a SC6 price measured in CAD$ of CAD$2,498.40 per tonne.

When ILC published the technical report for its Preliminary Economic Assessment (‘PEA’) for Raleigh Lake on January 18, 2024*, ILC’s board and management had the foresight to request and publish some sensitivity analysis of the results, as any NPV or IRR calculation is critically dependent on the commodity sale price assumption. The relevant table in the Technical Report (Lithium only) is Table 22-6 shown below, and the sensitivity to the SC6 price assumption at the time of the Technical Report on Raleigh Lake was as per that table.

Interpolating this table linearly between the two numbers modelled in the PEA for the Spodumene SC6 price of CAD$ 2,100 per tonne and CAD$ 2,500 per tonne would mean that using as an input the spot price on January 8, 2026, of CAD$ 2,498.40 per tonne the Net Present Value and Internal Rate of Return for the lithium only at the Raleigh Lake project calculated in the same way as in the table below and subject to the same disclaimers would give the following numbers using a discount rate of 8% p.a.:

We believe that these are helpful numbers to publish now to put the lithium price recovery into context as far as ILC’s Raleigh Lake project is concerned. We would stress that the medium term price assumption for a commodity sale price is generally not the same as the current spot price. We have not considered or consulted with the consultants who wrote the report on what the appropriate medium term price might be as at today. We would also stress that prices can go down as well as up, and that costs may have varied since the PEA was completed in January 2024. It should be noted that the Maiden Resource Estimate at Raleigh Lake in April 2023 also quantified a rubidium resource there. The PEA was for lithium only, and did not include sales of rubidium or cesium or other minerals.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3232/279868_e870c4d4547e4951_003full.jpg

Separately, we can report that ILC has filed for the appropriate permissions to turn various mining claims at Raleigh Lake into a mining lease, and this process is now well underway. We are in the process of planning the work we wish to carry out this year at Raleigh Lake given the improvement in the economics. This includes attempting to complete a PEA for the rubidium there, despite the challenges of robust pricing assumptions for rubidium chemicals.

*A copy of The Report, ‘The Raleigh Lake Project, NI43-101 Technical Report – PEA’ is on the Company’s website and was filed on SEDAR on January 18, 2024.

Babak Vakili Azar, P.Geo, is a Qualified Person as defined by NI 43-101 and has verified the disclosed technical information and has reviewed and approved the contents of this news release.

About International Lithium Corp.

International Lithium Corp. has exploration activities in Ontario, Canada, with intentions to expand into Southern Africa. It has projects at various stages, ranging from Definitive Feasibility Study at Rubicon in Namibia (note that ILC currently has an option only and is treating this as historic information at this point and not a current resource for ILC) to Preliminary Economic Assessment at Raleigh Lake to Pre-Drilling at Wolf Ridge. The primary target metals in Canada are lithium, rubidium and copper. There are three projects (two in Ontario and one in Ireland) in which ILC has sold its share, but where the Company stands to receive future payments from either a resource milestone being achieved or from a Net Smelter Royalty. In Namibia the Karibib project contains lithium, rubidium and cesium.

While the world’s politicians remain divided on the future of the energy market’s historic dependence on oil and gas and on ‘Net Zero’, there is in any scenario an ever-increasing and significant demand for electricity driven by AI and data centres, and by a likely unstoppable momentum towards electric vehicles and grid-scale electricity storage. All of these contribute to rising demand for lithium, copper, and other metals. Rubidium is also a critical metal, strategic for high-precision clocks, space technology, and improving the performance of certain types of solar panels. ILC has seen the politically driven, increasingly urgent push by the USA, Canada, the EU, and other major economies to safeguard their supplies of critical metals and to become more self-sufficient. The Company’s Canadian and Southern African projects, which contain lithium, rubidium, cesium and copper, are strategic in this regard.

The Company’s key mission for the next decade is to generate revenue for its shareholders from lithium and other critical minerals while also contributing to the creation of a greener, cleaner planet and less polluted cities.

This includes optimizing the value of ILC’s existing projects in Canada as well as finding, exploring and developing projects that have the potential to become world-class deposits. The Company announced that it regards Southern Africa as a key strategic target market and, in addition to Namibia, it has applied for and hopes to receive EPOs in Zimbabwe. The board hopes to make further announcements on the portfolio developments over the next few weeks and months.

The Company’s interests in various projects now consist of the following, and in addition, the Company continues to seek other opportunities:

The Company’s primary strategic focus at this point is on the Raleigh Lake Project, comprising lithium and rubidium, and the Firesteel copper project in Canada, as well as obtaining EPOs and mineral claims in Zimbabwe. The Karibib projects in Namibia, including further development of the EPL there, will be a high priority if ILC decides to remain involved.

The Raleigh Lake Project now encompasses 32,900 hectares (329 square kilometres) of mineral claims in Ontario and represents ILC’s most significant project in Canada. To date, drilling has occurred on less than 1,000 hectares of the Company’s claims. A Preliminary Economic Assessment was published for ILC’s lithium at Raleigh Lake in December 2023, with a detailed economic analysis of ILC’s separate rubidium resource still pending. Raleigh Lake is 100% owned by ILC, free from any encumbrances and royalties. The Raleigh Lake Project boasts excellent access to roads, rail, and utilities.

A continuing goal has been to remain a well-funded, strategically run company that turns ILC’s aspirations into reality. Following the disposal of the Mariana project in Argentina in 2021, the Mavis Lake project in Canada in 2022, and the Avalonia project in 2025, ILC has continued to generate sufficient cash inflows to advance its exploration projects.

With increasing demand for high-tech rechargeable batteries used in electric vehicles, energy storage, and portable electronics, lithium has been dubbed ‘the new oil’. It is a key part of a green, sustainable economy. By positioning itself on projects with significant resource potential and solid strategic partners, ILC aims to become a preferred lithium and critical minerals resource developer for investors and to continue building value for its shareholders throughout the 2020s, the decade of battery metals.

_______________________________________________________________________________________

Neither 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 Statement Regarding Forward-Looking Information

Except for statements of historical fact, this news release or other releases contain certain ‘forward-looking information’ within the meaning of applicable securities law. Forward-looking information or forward-looking statements in this or other news releases may include: the timing of completion of any offering and the amount to be raised, the likelihood or otherwise of the Company exercising its option on Lepidico Mauritius, the outcome of arbitration involving Lepidico Namibia, the effect of results of anticipated production rates, the timing and/or anticipated results of drilling on the Karibib or Raleigh Lake or Firesteel or Wolf Ridge projects, expected commodity prices, the expectation of resource estimates, preliminary economic assessments, feasibility studies, lithium or rubidium or cesium or copper recoveries, modeling of capital and operating costs, results of studies utilizing various technologies at the company’s projects, the Company’s budgeted expenditures, government permits or approval for licences and licence renewals, future plans for expansion in Southern Africa and planned exploration work on its projects, increased value of shareholder investments in the Company, the potential from the Company’s third party earn-out or royalty arrangements, the future demand for lithium, rubidium, cesium and copper, and assumptions about ethical behaviour by our joint venture partners or shareholders in our projects or third party operators of projects or royalty partners. Such forward-looking information is based on assumptions and subject to a variety of risks and uncertainties, including but not limited to those discussed in the sections entitled ‘Risks’ and ‘Forward-Looking Statements’ in the interim and annual Management’s Discussion and Analysis which are available at www.sedarplus.ca. While management believes that the assumptions made are reasonable, there can be no assurance that forward-looking statements will prove to be accurate. Should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Forward-looking information herein, and all subsequent written and oral forward-looking information are based on expectations, estimates and opinions of management on the dates they are made that, while considered reasonable by the Company as of the time of such statements, are subject to significant business, economic, legislative, and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect and are expressly qualified in their entirety by this cautionary statement. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management’s estimates or opinions change.

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(TheNewswire)

Vancouver, British Columbia TheNewswire – January 9th, 2025 Prismo Metals Inc. (‘Prismo’ or the ‘Company’) (CSE: PRIZ,OTC:PMOMF) (OTCQB: PMOMF) is pleased to announce that it has entered into an agreement with Infinitum Copper Corp. (TSXV: INFI) (‘Infinitum’) whereby Prismo will increase its interest in the Hot Breccia copper project, located in the heart of Arizona’s prolific copper belt, from 75% to 95%. In addition, Prismo has obtained an irrevocable option to acquire Infinitum’s remaining 5% interest, providing a clear path to 100% interest in the project.

Alain Lambert, CEO of Prismo commented: ‘The absence of a clear mechanism to secure full ownership at Hot Breccia had previously limited our ability to fund drilling and pursue potential third-party partnerships. The transaction announced today totally removes that constraint and materially improves the strategic flexibility of the project.’

He added: ‘Prismo remains firmly committed to advancing Hot Breccia. The recent extension of certain milestone obligations under the option agreement with Walnut Mines LLC (the ‘Option Agreement‘), the owner of the Hot Breccia claims, together with the deal announced today, provides the Company with additional flexibility as we evaluate a range of strategic alternatives. Each of these pathways is intended to position Prismo to commence drilling on what we consider to be one of the most compelling copper exploration opportunities in Arizona and the broader United States.‘

Dr. Linus Keating, manager of Walnut Mines LLC, enthusiastically commented: ‘Walnut Mines is solidly in favor of any action that moves Hot Breccia closer to a serious drill program. We are hopeful that this transaction will accomplish that goal in 2026. In our opinion, this property remains one of the best copper exploration opportunities in North America.’

Under the terms of the transaction, Prismo will pay Infinitum CA $185,000 to acquire a 20% additional interest in the Hot Breccia project and assume all of Infinitum’s remaining obligations under the Option Agreement to issue shares to Walnut, which is currently evaluated at approximately CA $54,000 through the issuance of Prismo common shares at a deemed issue price of $0.11 per share, subject to adjustments at closing. Prismo has also agreed to pay 5% of any consideration received in connection with a transaction in which Prismo assigns its interest in Hot Breccia to a third-party. The cash payment will be funded through a third party as an advance to the Company and will not utilize its working capital which is earmarked for the advancement of the Silver King project. Closing of the transaction is expected to take place on or around January 16th.

Prismo‘s Hot Breccia project lies at the heart of the Arizona Copper Belt, which hosts several globally significant porphyry copper deposits.  Examples of these significant deposits are Freeport McMoRan’s Miami-Inspiration mining complex, BHP’s San Manuel mine, Rio Tinto and BHP’s Resolution deposit and others (see Figure 1).  

Figure 1. Location of the Hot Breccia Project in the Arizona Copper Belt.

Historical drilling carried out in the mid to late 1970‘s by a Rio Tinto subsidiary intersected high-grade copper mineralization at depths ranging from 640 to 830 meters below surface. Several holes targeted an area with a coincident magnetic high, believed to be caused by magnetite skarn that was cut in the drill holes and that occurs in xenoliths in cross cutting dikes exposed at the surface. Prismo believes those intercepts may represent the periphery of the upper portion of a large mineralized system.  

Support for the Company‘s mineralization model at the project comes from several sources, including the results of historical drilling, geophysical surveys, distribution of dikes with xenoliths of Cu-bearing skarn, the 2023 ZTEM survey as well as the results of an AI study. The anomalous target area identified in Prismo‘s modelling measures 1,100 meters by 1,150 meters.  

Dr. Craig Gibson, Chief Exploration Officer of Prismo stated: ‘The copper exploration target at Hot Breccia has geophysical, geochemical and geological features characteristic of many porphyry copper deposits. The project area has a regional setting similar to BHP-Rio Tinto’s Resolution copper deposit located 40 kilometers to the northwest of Hot Breccia and which is considered to be one of the greatest copper discoveries in the history of North American mining.‘  He added: ‘The drill program is intended to drill through the entire prospective Paleozoic carbonate stratigraphy into the postulated porphyry body/breccia zone. The exploration team will take advantage of geological information provided by each hole during drilling to refine targeting of subsequent holes.‘

Historical drill holes cut high grade skarn mineralization including 23 meters with 0.54% Cu at 640 meters depth (hole OC-1), 18 m with 1.4% Cu and 4.65% Zn at 830 meters depth (hole OCC-7), and 7.6 m with 1.73% Cu and 0.11% Zn at 703 meters and 4.6 meters with 1.4% Cu and 0.88% Zn at 716 meters (OCC-8).  Mineralization occurs within a several hundred-meter-thick altered zone hosted in favorable Paleozoic carbonate rocks that underly a sequence of Cretaceous andesitic volcanic rocks.  These carbonates are the same rocks that host the high-grade copper mineralization at Freeport‘s nearby Christmas mine.  The historical drilling intersected a blind mineralized intrusion associated with the skarn mineralization, providing an immediate drill target that is believed to be the source of the mineralization at Hot Breccia (Figure 2). Several magnetic highs in the region surrounding the proposed intrusion may also indicated buried skarn mineralization and provide additional exploration targets.

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Figure 2. Schematic cross section at Hot Breccia showing updated interpretation after Barrett (1974).

Notes:

1. (1)Barrett, Larry Frank (1972): Igneous Intrusions and Associated Mineralization in the Saddle Mountain Mining District Pinal County, Arizona. Unpublished Master’s Thesis, University of Utah. 

2. (2)Barrett, Larry Frank (1974): Diamond drill hole OC-1, O’Carroll Canyon, Pinal County, Arizona, unpublished internal report, Bear Creek Mining. 

About Hot Breccia

The Hot Breccia property consists of 1,420 hectares in 227 contiguous mining claims located in the world class Arizona Copper Belt between several very well understood world-class copper mines including Morenci, Ray and Resolution (Figure 1). Hot Breccia shows many features in common with these neighboring systems, most prominently a swarm of porphyry dikes and series of breccia pipes containing numerous fragments of well copper-mineralized rocks mixed with fragments of volcanic and sedimentary derived from considerable depth. Prismo performed a ZTEM survey last year that identified a very large conductive anomaly directly beneath the breccia outcrops.  

Sampling at the project has shown the presence of copper mineralization associated with dacite dikes that transported fragments of strongly mineralized carbonate rocks to the surface from depths believed to be 400-1,000 meters. Drilling deep holes is necessary to tap into the source of these mineralized fragments found at surface.

Assay results from historical drill holes are unverified as the core has been destroyed, but information has been gathered from memos, photos and drill logs that contain some, but not all, of the assay results and descriptions.  Technical information from adjacent or nearby properties does not mean nor does it imply that Prismo will obtain similar results from its own properties.

Data on previous drilling and geophysics is historical in nature and has not been verified, is not compliant with NI 43-101 standards and should not be relied upon; the Company is using the information only as a guide to aid in exploration planning.

Qualified Person

Dr. Craig Gibson, PhD., CPG., a Qualified Person as defined by NI 43-01 and Chief Exploration Officer and a director of the Company, has reviewed and approved the technical disclosure in this news release.

About Prismo Metals Inc.

Prismo (CSE: PRIZ,OTC:PMOMF) is a mining exploration company focused on advancing its Hot Breccia copper project in Arizona and its Palos Verdes silver project in Mexico.

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Prismo Metals Inc.

1100 – 1111 Melville St., Vancouver, British Columbia V6E 3V6  Phone: (416) 361-0737

Contact:

Alain Lambert, Chief Executive Officer alain.lambert@prismometals.com

Gordon Aldcorn, President gordon.aldcorn@prismometals.com

Cautionary Note Regarding Forward-Looking Information

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as ‘intends‘ or ‘anticipates‘, or variations of such words and phrases or statements that certain actions, events or results ‘may’, ‘could‘, ‘should‘, ‘would‘ or ‘occur‘. This information and these statements, referred to herein as ‘forward‐looking statements’, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management’s expectations and intentions with respect to, among other things: the timing, costs and anticipated results of drilling at Hot Breccia; the ability of Prismo to fund drilling and pursue potential third-party partnerships; the Company’s strategic flexibility with respect to the Hot Breccia project going forward; the number of shares issuable by Prismo to Walnut pursuant to the transaction described in this news release; and the Company’s expectations regarding mineralization and other qualities of the Hot Breccia project.

These forward‐looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: delays in obtaining or failure to obtain appropriate funding to finance the exploration program at Hot Breccia; the risk that the Company will not enter into a third-party partnership with respect to the Hot Breccia project; the risk that mineralization will not be as anticipated at the project; the risk that the Company will not be able to take advantage of geological information to refine drill targeting; metal prices; market uncertainty; and other risks and uncertainties application to exploration activities and the Company’s business as set forth in the Company’s disclosure documents available for viewing under the Company’s profile on SEDAR+ at www.sedarplus.ca.

In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that: the ability to raise capital to fund the drilling campaign at Hot Breccia and the timing of such drilling campaign; the ability of the Company to enter into a third-party partnership on the project; that the project will have the anticipated mineralization and other qualities; and the  Company will be able to take advantage of geological information to refine drill targeting.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or 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 such 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 and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

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