Mr. Julian Treger reports

COTEC QUÉBEC ONBOARDS BBA TO DELIVER FEASIBILITY STUDY, COMMENCES ENVIRONMENTAL BASELINE STUDIES AND APPOINTS COREM TO COMPLETE METALLURGICAL TESTING PROGRAM ON LAC JEANNINE IRON TAILINGS PROJECT

Cotec Holdings Corp. has onboarded BBA Inc. to the Lac Jeannine feasibility study to support its subsidiary, Cotec Quebec Corp. Inc. The BBA team has completed initial site visits and baseline studies of the Lac Jeannine iron tailings project, Quebec, Canada, and has drawn up a metallurgical testing program for the full feasibility study following a review of the metallurgical data generated by Cotec during the positive 2024 preliminary economic assessment (the PEA). The primary objective of the testing program is targeting a concentrate grade of greater than 67 per cent Fe which is expected to support classification of Lac Jeannine as a critical mineral project. The results from the program will form the basis of the engineering design criteria and mass balance for the project and are expected to be completed in H1 2026.

Julian Treger, chief executive officer of Cotec, commented: "We are very excited about the collaboration between BBA and Corem to deliver the metallurgical testing program. Corem's continued experience of working on the project will bring additional value and insights. We look forward to the results from the test program, together with our updated mineral resource estimate which we aim to release to the market in Q1 2026. We believe this will result in increased confidence for the Lac Jeannine project compared to its current PEA level study. The initial environmental baseline studies are a first step towards the environmental assessment and review procedure for the project's permitting process. Completing early baseline studies and metallurgical testing demonstrates Cotec's strategy to execute opportunities expediently, working with all stakeholders."

Corem is an internationally recognized centre for expertise and innovation based in Quebec City and offers mining corporations a range of specialized research services to help them develop and optimize key mineral processing technologies. As part of the testing program developed by BBA, Corem will carry out tests using technologies which will allow Cotec to target the recovery of iron units below 75 micrometres which are currently being lost to tailings within the PEA flowsheet. The material used in the test program is sourced from Cotec Quebec's recent 2025 infill and expansion resource drilling program which was completed in August of that year.

The technical information contained in this news release has been reviewed and approved by Catherine Pelletier from BBA Consultants, a qualified person as defined by National Instrument 43-101 and independent of the company.

About Cotec Holdings Corp.

Cotec Holdings is redefining the future of resource extraction and recycling. Focused on rare-earth magnets and strategic materials, Cotec integrates breakthrough technologies with strategic assets to unlock secure, sustainable and low-cost supply chains.

Cotec's mission is clear: accelerate the energy transition while strengthening strategic critical mineral supply chains for the countries the company operates in. By investing in and deploying disruptive technologies, the company delivers capital-efficient, scalable solutions that transform marginal assets, tailings, waste streams and recycled products into high-value critical minerals.

From its HyproMag USA magnet recycling joint venture in Texas, to iron tailings reprocessing in Quebec, to next-generation copper and iron solutions backed by global majors, Cotec is building a diversified portfolio with long-term growth, rapid cash flow potential and high barriers to entry. The result is a differentiated platform at the intersection of technology, sustainability and strategic materials.

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