Mr. Brad Brodeur reports

CANAMERA COMPLETES 11-HOLE DRILL PROGRAM AT PATOS: FIELD GEOLOGY INDICATES POTENTIAL FOR KAMAFUGITE-HOSTED REE TARGET PROFILE

Canamera Energy Metals Corp. has successfully completed its due diligence auger drill program at the Patos rare-earth element project, located in Presidente Olegario, Minas Gerais, Brazil. The company completed 11 auger drill holes totalling approximately 78 metres between March 10 and March 26, 2026. A total of 66 samples have been submitted to SGS Geosol in Vespasiano for multielement analysis, including rare-earth elements and titanium. Assay results are expected within four to six weeks.

The Patos drill program was conducted as part of Canamera's due diligence evaluation of the project in relation to its potential acquisition of an option to acquire a 100-per-cent interest in the project (please see news release dated Feb. 26, 2026). The company will have 30 days following receipt of assay results to complete its due diligence evaluation and determine whether to proceed with acquiring the option.

Drilling successfully intersected the target geological sequence across the project -- surface Red Latosol overlying ferruginous crusts and laterite, grading into zones of saprolitic material containing abundant kaolin fragments, indicating the host profile for potential ionic clay REE mineralization. This saprolitic zone is believed to be derived from a kamafugite host, and is characterized by purplish coloration, friable texture, the presence of kaolin and varying degrees of magnetic response. In the deepest holes TPO-03, 08, 10, the target profile was penetrated through to the underlying Areado Group, providing a complete stratigraphic cross-section of the mineralized horizon.

"We are very pleased with the execution of the Patos due diligence program," said Brad Brodeur, chief executive officer of Canamera Energy Metals. "Our field team completed 11 auger holes across the project and confirmed the geological profile we expected to see -- a well-developed kamafugite-derived regolith sequence that is consistent with the ionic clay REE model that has attracted growing attention across the Mata da Corda region. The geology is encouraging, and we now await assay results to inform our acquisition decision."

Program details

The 11-hole program was designed to test the character and distribution of ionic adsorption clay-hosted rare-earth mineralization across the Patos property, which comprises eight prospecting licences totalling approximately 15,979 hectares underlain by the Patos formation of the Mata da Corda Group.

Individual borehole depths ranged from three metres to 12 metres, with depth of advancement controlled by ground conditions including the position of the water table, borehole stability and the presence of resistant lateritic horizons. The deepest hole, TPO-03, reached 12 metres and exhibited a typical sequence consisting of Latosol, followed by ferruginous crust (laterite) and kamafugite-derived material to a depth 11.7 metres before intersecting the Areado Group contact. Several holes, including TPO-10 (10 metres) and TPO-11 (nine metres), similarly penetrated thick sections of the target material, with kaolin-rich zones and colour variations consistent with advanced weathering of kamafugite source rock.

Field operations were supervised by consulting geologist Rodrigo de Brito Mello, who was responsible for borehole execution, sample control and validation of field procedures. Despite challenging conditions -- including intense rainfall that temporarily suspended operations and geotechnical obstacles such as borehole instability and resistant lateritic horizons -- the field team completed the program within the planned time frame. All boreholes were properly sealed upon completion.

Sample handling and quality control

All 66 samples were collected using one-metre downhole intervals and processed at a dedicated support facility in Presidente Olegario under the supervision of the consulting geologist. Sample preparation procedures included air drying, splitting using a Jones riffle splitter to ensure proper homogenization and representativeness, weighing, and secure packaging. Full chain of custody was maintained from collection through laboratory dispatch. The samples have been delivered to SGS Geosol in Vespasiano, Minas Gerais (ISO 9001:2015 and ISO 14001:2015 certifications ABS32982 and ABS 39911), for multielement ICP-OES/MS analysis, including all rare-earth element, for analysis. SGS Geosol is independent of the Canamera. For a further discussion of the company's data verification and QA/QC (quality assurance/quality control) processes and procedures, please see its most recently filed technical report, a copy of which may be obtained under the company's profile at SEDAR+.

Option terms

Should Canamera acquire the option, then such option may be exercised by the company making the following cash and company share payments immediately following completion of initial due diligence:

• Cash consideration: $228,000 in aggregate, comprising a $20,000 payment previously made and a remaining cash payment of $208,000;
• Share consideration: common shares of Canamera having an aggregate deemed value of $307,800, issued at a price equal to the 10-day volume-weighted average price (VWAP) of the company's shares over the 10 trading days immediately prior to closing, subject to applicable Canadian securities laws and CSE approval. Fifty per cent of the shares will be held in escrow for four months and the remaining 50 per cent for six months from the date of issuance.

Upon making the option payments, Canamera will acquire a 100-per-cent interest in the project, subject to a 2-per-cent net smelter return royalty (NSR) in favour of the optionor (and the obligation to make the milestone payments described below). Canamera will have the right to buy back 50 per cent of the NSR (reducing it to a 1-per-cent NSR) for $228,000 upon certain terms and conditions.

Milestone payments

Subject to acquiring and exercising the option, Canamera has also agreed to pay the following milestone payment amounts to the optionor:

• Milestone payment 1: $342,000 (comprising 50-per-cent cash/50-per-cent company shares at 20-day VWAP (volume-weighted average price)) payable if Canamera reports, in respect of the project, a National Instrument 43-101-compliant inferred resource of 250 million tonnes or more, grading at least 2,000 ppm (parts per million) total rare-earth oxides (TREO) within five years from the date of acquisition;
• Milestone payment 2: $228,000 (comprising 50-per-cent cash/50-per-cent company shares at 20-day VWAP) payable if Canamera reports, in respect of the project, drill intercepts of 25 metres grading at least 2,500 ppm TREO within three years from the date of acquisition.

About the Patos project

The Patos project consists of eight prospecting licences (ANM licence IDs: 830763/2024 through 830771/2024) totalling approximately 15,979 hectares in the municipality of Presidente Olegario, state of Minas Gerais, Brazil. The project is road accessible and situated approximately 330 kilometres from Belo Horizonte.

Qualified person

The scientific and technical information in this news release has been reviewed and approved by Warren Robb, PGeo (British Columbia), vice-president of exploration of Canamera Energy Metals, and a qualified person as defined by National Instrument 43-101.

About Canamera Energy Metals Corp.

Canamera Energy Metals is a rare-earth elements exploration and development company with an expanding project portfolio across Brazil, the United States and Canada. The company is focused on advancing ionic clay REE projects in Brazil and critical mineral assets in North America to support Western rare-earth supply chain independence.

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