Mr. Farshad Shirvani reports

CASA MINERALS INC. PROVIDES MCTO UPDATE

Casa Minerals Inc. is providing an update to its news release dated June 8, 2026, wherein the company announced that it expected the management cease trade order that was granted on May 1, 2026, to be revoked shortly after completing the filing of: (1) the audited annual financial statements for the year ended Dec. 31, 2025; (2) the management's discussion and analysis; and (3) related chief executive officer and chief financial officer certificates.

However, since the news release, the company has encountered difficulties with completing its interim financial report and related management's discussion and analysis for the period ended March 31, 2026. The company expects that it will not file the first quarter financials by the June 15, 2026, deadline, and the MCTO will remain in effect. The company has engaged an accounting consultant to assist with the completion of the Q1 financials. The company is, with the additional help of the accounting consultant, working diligently to finalize the Q1 financials and anticipates it will be able to remedy the coming default by filing the Q1 financials by June 30, 2026.

The MCTO will be in effect until the Q1 financials are filed, and all management, officers and directors of the company will be prohibited from trading in the company's securities pursuant to the company's blackout procedures.

The company intends to satisfy the provision of the alternative information guidelines set out in sections 9 and 10 of NP-12-203 as long as the required filings are outstanding. The company will continue to comply with the provisions of the alternative information guidelines under NP 12-203 by issuing biweekly default status reports in the form of news releases for so long as it remains in default of the filing requirements.

We seek Safe Harbor.