Mr. Clayton Fisher reports

IDEX METALS REPORTS INTEGRATED 2025 SOIL GEOCHEMISTRY EXPLORATION RESULTS, FREEZE PROPERTY, IDAHO

Idex Metals Corp. has released results from its 2025 Freeze property soil geochemistry program located in Idaho, United States. The program has defined a cohesive, multikilometre hydrothermal footprint consistent with an intrusive-centred porphyry copper-molybdenum system. When combined with drill results and geophysical data acquired during the 2025 exploration season, the soil geochemistry completes a multidisciplinary data set strongly inferring the presence of a buried intrusive centre beneath the North Breccia-Kismet corridor.

Highlights

Soil geochemistry suggests a buried intrusive centre under the North Breccia-Kismet corridor:

• Molybdenum at the core of the North Breccia-Kismet corridor: a concentrated molybdenum anomaly approximately 700 to 900 metres in length is expressed at surface along the North Breccia-Kismet corridor, representing the strongest and most reliable indicator of proximity to a mineralized buried intrusion;
• Tellurium confirms the high-temperature signal: tellurium enrichment overlaps the molybdenum core at North Breccia and western Kismet, providing a significant vector toward a high-temperature source;
• Copper wraps around the core: elevated copper values form a shell around the anomalous molybdenum domain across a width of 400 to 700 m. This copper halo is also coincident with tourmaline-copper breccia showings locally and a broader dispersal pattern;
• Metal ratios vector inward to the source: copper-to-molybdenum ratios are lowest directly over the centre of the Kismet target and increase progressively outward, pointing to a single buried intrusive centre beneath the North Breccia.

Soil geochemistry, drill results and geophysics converge at the North Breccia:

• Three independent data sets all lead the company to the same conclusion: the highest-priority target lies beneath the North Breccia and immediate drill testing is required.

2026 exploration season set to commence April, 2026:

• Induced polarization survey is expected to begin in early April, 2026, with the phase II drill program to follow in late April to early May.

Chief executive officer Clayton Fisher commented: "The 2025 program at Freeze has given us a very clear picture of the potential mineralized system within the Kismet corridor. Soil geochemistry has now corroborated what lithological observations in drilling and overlapping geophysical anomalies (both MT and IP) were telling us: we have a potential buried mineralized intrusive in our sights at North Breccia. We're approaching the 2026 drill season with excitement and increased confidence that the Kismet corridor -- and especially the North Breccia -- will deliver the goods for Idex."

Soil geochemistry at the Kismet corridor

Results from the 2025 soil survey reveal a concentrically zoned metal system centred on the North Breccia and Kismet corridor. Molybdenum and tellurium define the innermost zone, potentially marking the highest temperature and most proximal expression of a magmatic-hydrothermal system. Surrounding the Mo-Te (molybdenum-tellurium) core is a broader Cu shell, beyond which lies an envelope of tungsten and bismuth that establishes the outer region of hydrothermal influence. This progression from core to halo -- all centred on the Kismet corridor -- is a typical pattern associated with buried mineralized intrusive systems.

The copper-to-molybdenum ratio map reinforces the company's interpretation. Ratios are at their lowest directly over the North Breccia and Kismet core (where molybdenum dominates) and increase progressively outward in all directions. This concentric gradient is consistent and systematic, possibly indicating a buried intrusion and mineralization source at the Kismet and North Breccia systems.

The geochemical surface expression at Kismet is significant in its implications regarding target depth. Molybdenum and tellurium are high-temperature indicators that sit near the top of the porphyry zonation sequence. Their presence and strength at surface (Mo: two to six ppm (parts per million); Te greater than 0.5 ppm) imply that the erosion level at Kismet intersects the upper portion of the system rather than its roots. This is highly significant in that the majority of the porphyry system -- including its upper portions -- could remain preserved and uneroded.

Integrated soil and geophysical interpretation

The soil geochemistry findings are directly supported by magnetotelluric (MT) and vector IP data geophysical data acquired across the Freeze property during the 2025 field season (see Feb. 25, 2026, news release). The Kismet breccia complex itself produces a relatively resistive geophysical response at surface, consistent with the tourmaline-bearing breccia and oxide copper mineralization encountered in relatively shallow drilling.

Beneath the Kismet breccia, the MT inversion defines a large conductive zone at moderate depth corresponding to a pyrite-rich shell. This interpretation was directly validated by drill hole KSMT25006, which penetrated the breccia and intersected the pyrite shell, with coincident quartz-sericite-pyrite alteration at depth and the first instances of elevated molybdenum and molybdenite-chalcopyrite vein networks.

The property-wide MT data also defines a large, highly conductive body at approximately 800 m depth directly beneath the North breccia trend, with resistivity values in the 100 to 200 ohm-m range. This deep conductor sits precisely below the broad molybdenum and tellurium core defined by the soil survey and has not yet been tested by drilling. Its size, depth and alignment with the Kismet corridor, elevate the North breccia to the primary drill target of the 2026 exploration season.

The convergence of vectors from three independent data sets at the Kismet corridor is the most compelling takeaway from the 2025 exploration program. The soil geochemistry identifies the North Breccia and Kismet corridor as the highest-priority drill targets, with molybdenum, tellurium and metal ratio gradients all pointing inward to the same theorized buried intrusive body. The drill results from KSMT25006 confirm the existence of a developed pyrite shell with increasing molybdenum and molybdenite veining at depth. The MT geophysics defines a large transitional conductive response from 300 to 800 m beneath the same corridor. Each data set was acquired and interpreted independently. All three point to the same target beneath the North breccia and Kismet corridor.

2026 exploration season

Idex's 2026 exploration season is scheduled to commence in early April, 2026, with an expanded induced polarization survey across the Kismet corridor to better define near-surface structures and improve the efficiency and accuracy of drill targeting, followed by drilling at the North breccia porphyry target in late April to early May. The company also anticipates continuing with generative surface exploration, which includes mapping and soil and rock sampling across the remaining unexplored areas of the project.

Bunt Capital stock option issuance clarification

As previously announced on Jan. 23, 2026, the company has entered into a consulting agreement with Bunt Capital Corp. to provide certain investor relations services to the company. Pursuant to the consulting agreement, the company granted 200,000 stock options to Bunt Capital at an exercise price of 50 cents per share, expiring on Jan. 23, 2029.

Sample analysis and QA/QC (quality assurance/quality control)

Rock and soil samples taken during the 2025 program were prepped and analyzed in Calgary, Alta., and Thunder Bay, Ont., by AGAT Labs Analytical, an ISO 17025 and ISO 9001 certified laboratory. Soil samples were dried and screened to 180-micrometre mesh, followed by assaying via method 201-074, a 51-element aqua regia digestion method with an ICP-OES/MS finish. Rock samples were crushed to two millimetres, from which a 250 g split was further pulverized to 85 per cent passing a 75 micron sieve. Following preparation, a 30 g sample was analyzed by method 202-051 with a 30 g sample being analyzed by fire assay with an AAS finish. Multielement assays for rocks were determined by method 202-071 where a 0.25 g aliquot was digested in a four-acid solution and analyzed by ICP-OES/MS. Samples with initial results beyond the upper detection limit of the 201-071 method were further analyzed by overlimit 201-470 procedure (ICP-OES and/or ICP-MS). For copper, the threshold is greater than 1 per cent. AGAT Labs Analytical employs internal quality control standards, duplicates and blank samples at set frequencies. Blind certified reference material (CRM), blank and standard samples were also systematically inserted by the company into the sample stream and analyzed as part of the company's quality assurance/quality control protocol.

Qualified person

The scientific and technical information in this news release has been reviewed and approved for disclosure by David Hladky, PGeo (registered in Alberta), vice-president, exploration, of Idex Metals. David Hladky is a qualified person for Idex Metals within the meaning of National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About Idex Metals Corp.

Idex Metals is a mineral exploration company focused on advancing a portfolio of base and precious metal projects in Idaho, United States. Idex is primarily focused on the exploration and development of the Freeze copper-gold porphyry prospect located in the newly discovered Idaho copper belt, Washington county, Idaho. With a strategic land position in a great mining jurisdiction and surrounded by major industry players, Idex is committed to redefining district-scale exploration in Idaho.

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