Mr. Dwayne Yaretz reports

NORTH ATLANTIC TITANIUM CORP. RECEIVES PERMITS TO DRILL EVERETT PROJECT, HAVRE-SAINT-PIERRE, QUEBEC

North Atlantic Titanium Corp. has received drilling permits for its exploration program at the company's Everett titanium-vanadium-phosphate project in Havre-Saint-Pierre in Quebec.

The company holds the 2,406-hectare (ha) Everett property under option from Romaine River Titanium Inc.

The company has received confirmation from Quebec's Ministere des Ressources naturelles et des Forets (MRNF) Quebec that the following has now been approved on behalf of Romaine River and the company:

• PAF (permit for forestry activities);
• ATI (permit for work with impact) for the drilling campaign only.

The company's diamond drilling plans focus on confirming the 1951 and 1968 diamond drilling in the northern area of the exposed Everett oxide body, totalling approximately 25,000 metres (m) across 20 drill pads, to be completed within three years. The plan submitted for the PAF and ATI is described as follows:

• Forest impacts are minimal because the company is mostly brushing out historical drill trails for access. The work, when completed, will provide access to both the north and south areas of the 2.5-kilometre-long (km) exposure of the Everett oxide body.
• Diamond drilling in success-contingent stages to test the northern area of the Everett oxide body, leading to a mineral resource estimate (MRE).
• Drilling depths are expected to be mostly less than 350 m.
• All drilling sites are planned to be accessed via the trails prepared under this year's forestry permit.

Highlights:

• Rather than being a direct analogue of the nearby massive hemo-ilmenite orebody at the Lac Tio mine, the Everett oxide body is being drill tested not only for its TiO2 content, but also for its low Mg/Mn/Al/Cr (magnesium/manganese/aluminum/chromium) hemo-ilmenite, apatite as a potential phosphate co-product and vanadium -- with potential scandium credits -- as opportunities for process enhancement and future byproduct recovery. The project therefore represents a broader Fe-Ti-V-P (iron-titanium-vanadium-phosphorus) critical minerals opportunity than that of a conventional titanium ore body.
• A compelling mineralogical characterization of the Everett metallurgical samples by Corem (Consortium de recherche en traitement de mineral), combined with recent verification work by North Atlantic Titanium Corp. (NATO) of historical sampling, has focused the drilling program on the northern portion of the Everett oxide body, comprising 25,000 m of drilling between drilling sections 9N and 19N.
• Corem analyzed a composite metallurgical sample from 17 sites across the Everett oxide body and reported that approximately 99 per cent of oxide minerals in the composite consist of high-quality hemo-ilmenite, characterized by very low magnesium, manganese, aluminum and undetectable chromium impurities.

Drilling target description -- targeting simple mineralogy

The mineralized unit on the property is an oxide-apatite-gabbronorite (unit 7). Unit 7 is extensive, spanning more than six km of strike length on the property. The main area of historical sampling and drilling within unit 7 is outlined and designated the Everett oxide body. The oxide body remains open along strike to the north and south, and downdip beyond its 2.5 km surface expression.

Corem completed mineralogical characterization of a composite sample set (Col154) from the Everett property. The Col154 composite was prepared from a subset of 57 metallurgical samples submitted by Romaine River to the Elements08 program and spans the entire oxide body. The selected sample had a weighted-average head grade measured by Corem of 37.0 per cent Fe2O3, 17.4 per cent TiO2, 0.18 per cent V2O5 and 2.27 per cent P2O5, with a Satmagan measurement of magnetite averaging a very low 0.9 pepr cent in the head sample. Importantly, Corem results indicate that over 99 per cent of the oxides in the composite sample are hemo-ilmenite (FeTiO3). Together, the hemo-ilmenite and apatite comprise over 50 per cent of the sample.

Regional setting of the Everett oxide body

Drilling and evaluation of the Everett are informed by the geology and mineralization of the Grenville province of eastern Quebec, which hosts several major Proterozoic anorthosite-mangerite-charnockite-granite (AMCG) magmatic systems and associated deposits of iron, titanium and phosphorus. The Everett and the nearby Lac Tio deposit are hosted by the Lac Allard anorthosite intrusion, emplaced at approximately 1.06 billion years. The Lac Allard anorthosite is a younger intrusion within the broader Havre-Saint-Pierre anorthosite complex, which is 1.13 billion years in age.

The Lac Tio deposit is the world's largest hard-rock ilmenite deposit; it contained more than 200 million tonnes (t) premining, with grades over 60 weight per cent hemo-ilmenite (FeTiO3). Rio Tinto's Quebec titanium dioxide operation supplies approximately 19 per cent of global titanium dioxide feedstock demand, sourcing from the Lac Tio open pit and processing the material at the Sorel-Tracy metallurgical complex.

The Everett oxide body lies only three km from the Lac Tio mine. The unit 7 gabbronorite of Everett occurs within the Lac Allard anorthosite. Perreault (2001) states that the Everett mineralization is associated with a jotunite (gabbronorite) band about three km long and up to 300 m thick, composed of ilmenite, hematite, magnetite and apatite, with plagioclase and orthopyroxene. Locally, oxides and apatite may make up as much as 50 per cent of the rock. The Corem analysis confirms this petrography.

Lac Tio and Everett are both characterized by dominant hemo-ilmenite mineralization. However:

• Lac Tio is a massive hemo-ilmenite cumulate representing an extreme oxide accumulation within the Lac Allard magmatic system, formed by multiple pulses of magma;
• Everett is hosted by a layered intrusion with an uncommon jotunite affinity, termed an oxide-apatite-gabbronorite, and shows evidence of higher volatile contents, such as phosphorus (apatite) and semi-massive hemo-ilmenite, with significantly lower Mg, Mn, Cr and Al than Lac Tio.

The relatively low MgO values observed in the Everett oxide mineralization are consistent with an evolved magmatic differentiation model and distinguish the Everett system chemically from classical anorthosite-hosted Fe-Ti deposits. Rather than being a direct analogue of the nearby massive hemo-ilmenite orebody at the Lac Tio mine, the Everett oxide body is being drill tested for its distinctive multicommodity mineral assemblage. The Everett is shown in the Corem testing to have a possible low-Mg/Cr hemo-ilmenite concentrate, with potential coproducts of apatite (phosphorus) and vanadium. The project therefore represents a broader Fe-Ti-V-P critical minerals opportunity than a conventional titanium ore body.

Dwayne Yaretz, chief executive officer of NATO, stated:

"Metallurgical results reinforce the company's strategy to advance a secure, domestic critical minerals processing supply chain in Canada -- supporting defence readiness and the reshoring of Western titanium metal production. Our stage 1 program will define our technical program, and follow-up drilling and metallurgical testing over the next 18 to 24 months is designed to confirm a path towards a long-term supply of synthetic rutile for end producers of titanium metal."

About Elements08 Strategic Metals Excellence Centre

On March 31, 2026, the company joined Romaine River in its collaboration with the Centre technologique des residus industriels (CTRI), Impact Global Solutions (IGS) and Corem to support metallurgical testing at the Everett project in Quebec. The program is managed by the Elements08 and funded by the government of Quebec.

Corem is a Quebec City-based, non-profit applied research centre specializing in mineral processing, extractive metallurgy and mineral characterization. It operates as a member-driven consortium, collaborating with mining companies, government agencies and equipment suppliers. Corem is one of Canada's leading independent mineral processing laboratories.

About North Atlantic Titanium Corp.

North Atlantic Titanium is focused on developing the Everett titanium-vanadium project in Quebec, targeting the production of high-quality titanium feedstocks with potential value-added vanadium and phosphate co-products. The company also holds a 100-per-cent interest in the Sleeping Giant South project, located in the Abitibi greenstone belt, approximately 75 kilometres south of Matagami, Que.

Qualified person

Julien Davy, PGeo, MSc, MBA, independent consultant, a qualified person under National Instrument 43-101 on standards of disclosure for mineral projects, has approved the technical information about the Everett property in this news release.

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