Mr. Mark Kolebaba reports

ADAMERA STAKES TUNGSTEN RIDGE, WASHINGTON STATE, U.S.A., ADDING TO ITS CRITICAL MINERALS PORTFOLIO

Adamera Minerals Corp. has staked the Tungsten Ridge property in eastern Washington. The claims cover approximately 1,360 acres in an area accessible by a system of recent logging roads. The area is considered prospective for tungsten (W), copper (Cu), silver (Ag) and molybdenum (Mo). This acquisition builds on the company's Talisman tungsten landholdings to form the basis of a critical mineral portfolio within the United States.

The tungsten properties:

• Tungsten Ridge: The newly staked property (currently pending standard adjudication) spans 1,360 acres of land prospective for skarn mineralization. Historical data and surface sampling indicate a polymetallic system (W-Cu-Ag-Mo) that was test mined in the early 1950s for tungsten in the form of scheelite. Results of this test mining are not known.
• Talisman tungsten property: A historical past-producing mine, the Talisman tungsten property, is a proven high-grade polymetallic deposit. Historical production and sampling have yielded grades of 5 per cent copper, 103 grams per tonne (g/t) silver and 0.35 per cent to 1.0 per cent tungsten. Importantly, the company has developed a fresh target 700 metres (m) south of the mine; regional sampling in this area has identified a new zone, yielding up to 0.26 per cent W, which has not yet been followed up.

"In 2025, the company considered selling the Talisman tungsten property, but the macroeconomic landscape for tungsten has fundamentally shifted," stated Mark Kolebaba, chief executive officer of Adamera Minerals. "Driven by an unprecedented surge in demand and pricing, we have instead expanded our tungsten holdings. This is exactly the type of project Adamera is well equipped to rapidly advance. It is close to infrastructure and our operational base in Washington state. Going forward, our focus will be to rapidly advance both properties with fieldwork expected to commence in April."

Mr. Kolebaba adds: "We have several promising gold, silver and copper projects in B.C. and Washington state that will continue to be important to the company, and we also have two tungsten projects with potential for scale and high grades. The tungsten market is at an historic impasse with high prices and high demand for projects with the potential for domestic U.S. production. We will be meeting this challenge with aggressive exploration campaigns to rapidly advance our tungsten assets."

Upcoming, near-term exploration plans for both tungsten properties will be announced shortly.

Tungsten, the essential metal

Tungsten's unique physical properties (hardness, density second only to gold and the highest melting point of any metal) make it an essential element in machining, electronics, aircraft manufacture and military applications. Tungsten is used both as major component in projectiles, both bullets and missiles, and as key component in armour plating for tanks and personnel carriers. These unique physical properties mean that tungsten cannot be easily substituted by other metals or materials, which has made it relatively price insensitive for most uses. As a result of the wars in Ukraine and now Iran, military application demand is expected to increase by approximately 12 per cent in 2026, with similar demand growth expected in coming years.

China dominates the supply side of the market, producing roughly 80 per cent of tungsten yearly. In response to U.S. tariffs, China has put severe export restrictions on tungsten products. Exports of ammonium paratungstate (APT), the primary product used as a manufacturing input worldwide, fell to zero in 2025. This has put severe constraints on the tungsten market, leading to skyrocketing APT prices in recent months. As of March 26, 2025, APT prices reached $2,800 per metric tonne unit (or 10 kilograms), up from about $300 per metric tonne unit in early 2025. While Chinese export restrictions are blamed for the supply constraints, mined grades of tungsten at the large mines in China are believed to be dropping as well. These supply constraints may continue even if these export bans are lifted. Given the sensitive nature and the military end uses, China is likely to prioritize domestic demand in any case.

Tungsten is considered a critical metal. Due to its heavy use in industrial and military applications, Western governments are seeking to increase non-Chinese supply. The global market is in a structural deficit and, particularly given the strategic sensitivity of military demand, many countries favour local producers. In response to the supply squeeze, the U.S. military, via the Defense Industrial Base Consortium (DIBC), recently invited companies to submit proposals to boost domestic supplies of critical minerals, explicitly targeting tungsten.

High-quality tungsten deposits are rare and timelines for permitting and developing mines worldwide are long. While new production coming on stream will help, tungsten prices are likely to remain well above historical levels for an extended period of time.

The company's development of a tungsten property portfolio aligns with the current global supply crisis. Pending standard adjudication, Adamera will fully control two projects in eastern Washington state. Both projects are known to contain tungsten-bearing skarn and management believes both have good scale potential. The company will prioritize exploration spending on its tungsten assets to explore and develop them as expeditiously as possible.

Qualified person

Martin St. Pierre, PGeo, a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical data in this news release.

About Adamera Minerals Corp.

Adamera is advancing a tungsten portfolio in Washington to establish a secure, uninterrupted domestic supply for U.S. markets. While leading with this critical mineral strategy, the company also continues to explore for high-value gold, silver and copper deposits in British Columbia and Washington. Adamera is committed to utilizing modern, tech-driven exploration methodologies to efficiently discover and define economic mineral resources, and is focused on translating exploration success into tangible equity.

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