Medford, Wisconsin--(Newsfile Corp. - January 8, 2026) - GreenLight Metals Inc. (TSXV: GRL) ("GreenLight" or the "Company") is pleased to provide a summary of its key accomplishments during 2025 and outline its exploration strategy for 2026. In 2025, GreenLight completed the first drill program at the Bend Project in more than a decade, delivered strong copper-gold results, and strengthened its balance sheet to support expanded exploration in Wisconsin in 2026.

"2025 was a transformational year for GreenLight, kicking off with our successful public listing on the TSX Venture Exchange in April," said Matt Filgate, President & CEO. "Strong drill results from our first phase of drilling at Bend validated our thesis that the historic 4.0 million tonne resource has potential for expansion.ⁱ Importantly, these results further highlight Bend's potential role as a future U.S.-based source of critical metals, supporting domestic supply chain security. During the year, we also secured strong funding with the closing of our C$11.5 million bought deal financing in November while welcoming new, high-quality institutional investors to our share register.

"In 2026, we plan to mobilize two rigs for a significantly expanded drill program at Bend as we advance toward a maiden resource estimate, while also pursuing belt-wide exploration and strategic acquisitions to strengthen the U.S. critical metals supply."

Bend Project - Phase 1 Drilling Delivers Strong Results

In 2025, GreenLight completed its Phase 1 drill program at the Bend Project in Wisconsin, marking the first drilling on the property by any operator in more than a decade. The six-hole, 2,037-metre program was designed to test down-plunge and eastern extensions of known mineralization, and the results confirmed both continuity and strengthening of the system with depth.

Assays from early holes demonstrated high-grade copper-gold mineralization, including 12.85 metres averaging 3.74% copper equivalent ("CuEq") in hole B25-003.ⁱⁱ Follow-up results from holes B25-004, B25-005, and B25-006 further exceeded expectations and represent the strongest intersections of the program.

Hole B25-004, drilled approximately 45 metres down plunge from earlier results, intersected a broad, continuous mineralized interval of 34.25 metres averaging 3.74% CuEq. Within this interval, the hole returned 22.24 metres of 3.02 g/t Au and 2.03% Cu (5.27% CuEq), including a localized high-grade gold zone grading 7.41 g/t gold over 6.10 metres, with visible gold observed at approximately 290 metres depth. These results demonstrate a clear increase in both grade and thickness as drilling advances toward the core of the deposit.

Hole B25-005 successfully extended mineralization a further 57 metres down plunge and 47 metres along strike, returning 19.32 metres averaging 2.95% CuEq, including 8.79 metres of massive to semi-massive sulfide grading 3.74% CuEq.

Hole B25-006 continued to extend mineralization approximately 65 metres down dip and down plunge, returning 23.98 metres averaging 2.86% CuEq, including 17.11 metres of massive to semi-massive sulfide grading 3.32% CuEq. Together, these results confirm a consistent 36° to 42° easterly plunge to the mineralized system and establish strong vectors for continued expansion.

Significant tellurium values were encountered throughout the Phase 1 program, with multiple over-limit assays >500g/t Te, coincident with copper-gold mineralization. As a designated critical mineral, tellurium adds an additional dimension of potential value to the Bend Project.

Importantly, the entire Phase 1 drill program was completed on privately controlled (Soo Line) mineral lands with existing permits. This allowed GreenLight to advance exploration efficiently while federal permitting efforts continue in parallel, underscoring a key strategic advantage of our Wisconsin asset base.

2026 Exploration Outlook

The success of the Phase 1 program has positioned GreenLight well for the next stage of exploration on the Bend Project. Planning is underway for an expanded drill program at Bend. The Company has submitted a Notice of Intent (NOI) to the Wisconsin Department of Natural Resources for the Soo Mineral Lease that, if approved, would permit up to approximately 7,000 metres of drilling on that parcel. Subject to approvals, the Company expects to mobilize two drill rigs and commence an initial winter program, with follow-up metreage guided by results. Upon approval of the Prospecting Permit on U.S. Forest Service lands, drilling would focus on resource-definition drilling within areas of known mineralization to support a future maiden mineral resource estimate, as well as western down-dip extensions of the mineralized horizons.

Borehole electromagnetic (BHEM) surveys will be conducted on the 2026 drill holes to generate real-time 3D plate models that optimize drill targeting, while drill testing of the outboard Bend North and Bend East EM anomalies will be completed.

Concurrently, a comprehensive internal geologic model will be developed to guide an iterative resource modeling strategy, alongside ongoing validation of historic data, including assays, surveys, collar locations, and relogging in support of geologic modeling.

Beyond Bend, GreenLight anticipates additional drill testing across its broader Wisconsin portfolio in 2026 as permits are received and targets are prioritized. At the Lobo East project, baseline environmental work and permitting preparations are well underway in support of future drill testing of VMS mineralization, subject to regulatory approval. At Reef, the Company continues to validate and digitize historic datasets, review and integrate historic drill core information, and refine geological interpretations to support future exploration planning. The Company expects to provide further updates as programs are finalized and approvals are received.

Figure 1: Bend Long section showing projected mineralization down plunge of historic resource body. 

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Grant of Deferred Share Units to Directors

In accordance with the Company's director compensation policy, the Company has granted an aggregate of 487,581 deferred share units ("DSUs") to its directors in full satisfaction of director fees earned for the second, third and fourth quarters of 2025. All directors are paid their director fees entirely in DSUs.

Each DSU can be redeemed for one fully paid and non-assessable common share of the Company issued from treasury. The DSUs were granted in accordance with the Company's amended and restated equity incentive plan. The DSUs will vest one year following their grant and will be settled following a director's retirement or other cessation from the board, in accordance with the terms of the equity incentive plan and applicable law. The DSU grant is subject to acceptance by the TSX Venture Exchange.

Qualified Person Statement

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in NI 43-101 and reviewed and approved by Thomas Quigley, MSc, CPG-11962, Exploration Director of the Company, a Qualified Person as defined by NI 43-101.

About GreenLight Metals Inc.

GreenLight is a Wisconsin-focused exploration company advancing copper-gold and gold projects across the Penokean Volcanic Belt-one of North America's most prospective VMS districts-and the Kalium Canyon epithermal gold project in Nevada's Walker Lane. In Wisconsin, our portfolio includes the Bend copper-gold deposit, the Reef high-grade gold project, and the Lobo and Lobo East massive sulfide targets. Guided by a team with deep roots in the state, we are building a modern minerals company for Wisconsin, by Wisconsin-committed to responsible exploration, transparent engagement, and creating durable local opportunities as we help supply the critical metals that power the energy transition.

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 news release.

Cautionary Statement Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, statements regarding the Company's 2026 exploration strategy and planned work programs, including drilling and geophysical programs at the Bend Project and elsewhere in Wisconsin; the timing and receipt of permits and regulatory approvals; the expected use and potential benefits of borehole electromagnetic surveys; statements regarding the potential to expand mineralization and/or any historical estimate at the Bend Project; and the timing, completion and results of a maiden mineral resource estimate.

Forward-looking information is based on management's reasonable assumptions but is subject to known and unknown risks and uncertainties that may cause actual results to differ materially, including risks related to permitting and access, changes in plans or budgets, availability of contractors and equipment, adverse weather and seasonal conditions, assay/laboratory turnaround times, the results of exploration and interpretation of data, and general market and commodity price conditions. Readers are cautioned not to place undue reliance on forward-looking information. The Company does not undertake to update forward-looking information except as required by applicable law. Additional risk factors are described in the Company's continuous disclosure filings available on SEDAR+.

ⁱ Historical resource estimate. Source (primary): E.K. Lehmann and Associates, Inc. (1992), Report of the geology and ore reserves of the Bend copper-gold deposit, Taylor County, Wisconsin. Bureau of Land Management Preference Right Lease Application (prepared for the Jump River Joint Venture). Methods/parameters known from the source: Prepared from ~33 diamond drillholes; polygonal and cross-sectional methods were both used and averaged; at the time the estimate was categorized as a "geologic resource" under USGS Circular 831 (1980); no cut-off grade was stated in the source report. Cautionary statements: This historical estimate does not comply with CIM Definition Standards as required by NI 43-101 and has no comparable resource classification; a Qualified Person has not done sufficient work to classify the historical estimate as current; the Company is not treating the historical estimate as current mineral resources; and significant data compilation, re-drilling, re-sampling and verification will be required before any classification as current resources-investors should not rely on this historical estimate.

ⁱⁱ CuEq is reported to express the aggregate in-situ value of copper, gold and silver as a percentage copper grade. CuEq incorporates assumed metallurgical recoveries and is not a proxy for, nor evidence of, economic value. Tellurium (Te) is reported separately and is not included in CuEq.

CuEq (%) = ((Cu grade (%) / 100 × 0.9 (recovery) × 2204.6 × US$4.50) + (Au grade (g/t) × 0.9 (recovery) / 31.1035 × US$3,600) + (Ag grade (g/t) × 0.9 (recovery) / 31.1035 × US$40)) / (2204.6 × 0.01 × US$4.50).

Assumptions: metal prices of US$4.50/lb Cu, US$3,600/oz Au, US$40/oz Ag; recoveries of 90% for Cu, Au and Ag based on the Company's preliminary assessment of analogous VMS deposits. No allowances have been made for smelting/refining charges, penalties or deleterious elements, or payability factors. No metallurgical test work has been completed at Bend; actual recoveries and payabilities are unknown and may differ materially.

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