The TSX Venture Exchange has accepted for filing documentation with respect to the non-arm's-length amendment to the terms of a net smelter return (NSR) royalty with respect to the Newmont Lake project. Enduro Metals Corp. may repurchase 50 per cent of the 2-per-cent NSR royalty through a one-time payment of $8-million.

In consideration for entering into the amending agreement, the company will make payments over a two-year period totalling $550,000 and issue 3.9 million shares upon closing. Of the cash payments, $125,000 of the first anniversary payment and $125,000 of the second anniversary payment may be paid in shares at a deemed price per share equal to the greater of: (a) the 20-day volume-weighted average trading price; and (b) 13.5 cents per share.

In addition, 60 per cent of a $500,000 cash payment due upon delivery of a National Instrument 43-101-compliant resource estimate may be paid in shares using the same deemed price calculation.

For further details, please refer to the company's news releases dated April 27, 2026, and June 18, 2026.