Mr. Peter van Alphen reports

NUVAU PROVIDES CORPORATE UPDATE AND STRATEGY FOR 2026

Nuvau Minerals Inc. has provided a corporate update, highlighting the success of 2025 exploration programs and plans for 2026. Previous exploration has resulted in significant gold and base metal discoveries and has expanded the company's base metal mineralized inventory at its Matagami project in the Abitibi region of Quebec.

"We went public in late 2024 with a mandate to increase base metal resources, initiate gold-focused exploration that has been overlooked on our large-scale property and accelerate work toward restarting mining operations," said Peter van Alphen, Nuvau's president and chief executive officer. "With extensive existing processing and permitted mining operations, the Matagami property truly represents a near-term production opportunity with limited start-up capital. We have made significant progress, developing two zones of volcanogenic massive sulphide (VMS) mineralization, discovering a new orogenic gold system at Bracemac and expanding mineralization at the Bracemac-McLeod mine. This work sets the groundwork for an updated mineral resource estimate on the property, updated economic studies and advancing the completion of the earn-in from Glencore."

Key achievements in 2025

Exploration continued across the property while also progressing multiple initiatives aimed at advancing the planned restart of production:

• A sonic drilling program was completed to explore for mineralization in the glacial till, which delivered a significant gold grain anomaly with more than 2,000 gold grains per 10 kilograms of material in an underexplored part of the property, supported by a near-contiguous sample with 295 gold grains in hole PD-23-030s.
• Caber complex base metal project: The company completed a successful drilling program that returned numerous high-grade intercepts at the Caber complex deposit. This work was completed to increase drill density in preparation for the completion of an updated mineral resource estimate (MRE).
• Renaissance zone: Following the 2023 new VMS discovery, from the first geophysical target tested by Nuvau to the north of the Caber deposits. Twenty-seven holes were drilled, with 16 holes containing semi-massive to massive sulphide mineralization. Additional VMS mineralization was discovered at the PD1-East target, a nearby geophysical anomaly tested in 2025.
• McLeod extension: Seven new intersections from 5,526 metres of drilling in 2024 and 2025, following up on the 2023 program that discovered potential to expand mineralization proximal to existing mine workings, including an impressive intercept of 15.30 metres grading 2.92 per cent copper, 15.32 per cent zinc, 0.39 gram per tonne gold and 98.16 g/t silver.

A new prospective gold horizon was discovered in 2025, immediately east of the Bracemac mine within a tonalite intrusive, where the very first drill hole intersected visible gold in quartz veining that returned 8.87 g/t gold over 1.05 metres, including 16.02 g/t gold over 0.55 (BRCG-25-01). Follow-up drilling confirmed continuity of a broad, near-surface mineralized system within a large-scale target area that was not tested in historic programs. Assay results are provided in Table 1.

Strategic focus in 2026

The Matagami camp uniquely combines district-scale exploration potential with a near-term production restart opportunity, supported by a large land package, existing mineral endowment and permitted infrastructure.

The company is preparing for a large-scale exploration program in 2026, continuing to test multiple high-quality gold targets and several promising base metal targets, including the Daniel 25 VMS area and untested geophysical anomalies in the central camp.

Gold exploration will focus on the underexplored area hosting the high-grade gold-in-till anomaly, advancing the Thunder mine target where historic drilling intersected multiple high-grade zones that remain open and evaluating the broader prospectivity of the footwall gold occurrence at the Bracemac mine. All permits have been received for the expected exploration program for 2026.

Nuvau will continue to advance work aimed at updating its mineral resource estimates for the multiple deposits located on the property, targeting upgrades to the Caber complex, as well as initial mineral resource estimates for Bracemac-McLeod and Renaissance.

Following the resource updates, the company anticipates updating the previously completed PEA to include portions of those additional resources as well as updating the associated economics and mine plans. Permitting initiatives will also continue to prepare the Matagami property for the restart of mining operations.

Update on Matagami earn-in

Nuvau continues to advance its earn-in with respect to the Matagami property. On Jan. 28, 2026, Nuvau, Nuvau Minerals Corp. and Glencore Canada Corp. entered into a second amended and restated earn-in agreement, which further amends and restates the terms of the earn-in agreement dated March 25, 2022, as previously amended and restated on June 28, 2024.

As Nuvau has satisfied all work requirements to earn the right to acquire a 100-per-cent interest in the Matagami property, Nuvau has been working closely with Glencore to complete the transfer of Glencore's interest in the Matagami property to Nuvau. In order to facilitate such transfer, Nuvau and Glencore have agreed to certain technical amendments in the second amended and restated earn-in agreement to address, among other things, certain regulatory considerations, the obligations of Nuvau with respect to the replacement of financial assurances, and the transfer of permits and authorizations to Nuvau. In addition, Nuvau also agreed to guarantee certain deferred obligations under the second amended and restated earn-in agreement, updated to reflect status of Nuvau as guarantor of the obligations. Pursuant to the second amended and restated earn-in agreement, Nuvau must complete the earn-in by no later than Feb. 27, 2026.

For additional information, please refer to the second amended and restated earn-in agreement, a copy of which will be available on SEDAR+ under Nuvau's issuer profile.

About Nuvau Minerals Inc.

Nuvau is a Canadian mining company focused on the Abitibi region of mine-friendly Quebec. Nuvau's principal asset is the Matagami property, which is host to significant existing processing infrastructure and multiple mineral deposits and is being acquired from Glencore.

Qualified person and quality assurance

Bastien Fresia, PGeo (Quebec), technical services director of Nuvau and a qualified person (as defined by National Instrument 43-101), has verified the scientific and technical data disclosed in this news release and has otherwise reviewed and approved the scientific and technical information in this news release.

Sonic core has been quicklogged on drilling site and shipped by truck to IOS facilities in Saguenay for detailed logging and sampling by a qualified quartenary geologist. Hole core from selected intervals has been bagged and queued for processing in the same facility, where samples were sifted and gold grain concentrated with a proprietary fluidized bed. Concentrates were then dry sifted at 50 micrometres, with those greater than 50 micrometres being examined under an optical microscope, while those under 50 micrometres were scanned by an automated electron microscope. Every suspected gold grain has been analyzed by an energy-dispersive X-ray spectrometer (EDS), and high-magnification back-scattered images have been acquired in order to classify morphology. Quality control is ensured through various mass balance calculations and EDS analysis of all grains of interest, prior to results being cross-examined by experienced geologists. In the course of sifting, an aliquot of the sample has been saved and shipped for analysis to Activation Laboratories in Ancaster, Ont., for ICP-MS-QQQ ultratrace analyses after aqua regia digestion. Quality control has been conducted by a certified chemist and includes approximately 15 per cent blanks, certified reference materials and internal reference materials.

Diamond drill core samples are sawn by staff technicians in Nuvau's Matagami's core shed to create half-core splits. One split is retained in the drill core box for archival purposes, with a sample tag affixed at each sample interval, and the other split is placed in a labelled plastic bag, along with a corresponding sample number tag and placed in the shipment queue. Quality control samples, including blind certified reference material (CRM), blank material and core duplicates, are inserted at a frequency of one in every 20 samples and sample batches of up to 60 samples were then shipped directly by Nuvau personnel to the ALS Canada Ltd. preparation laboratory in Rouyn-Noranda, Que. All submitted core samples are crushed in full to 95 per cent passing less than two millimetres (ALS code CRU-32). A 1,000-gram sample was then riffled, split from the crushed material and pulverized to 90 per cent passing 75 micrometres (SPL-22 and PUL-32a). Pulps are shipped from the preparation laboratory to ALS Canada's analytical lab in North Vancouver, B.C., for assay. Lead, silver, copper and zinc analyses were determined by ore-grade four-acid digestion with an inductively coupled plasma atomic emission spectroscopy (ICP-AES) or atomic absorption spectroscopy (AAS) finish (ALS codes Pb-OG62, Ag-OG62, Cu-OG62 and ZnOG62), whereas gold was determined by 50-gram fire assay analysis with an AAS finish (code Au-AA23).

PhotonAssay analysis (code Au-PA01) is used on the samples from Bracemac Gold. The samples are sent to Val d'Or MSALabs. Up to one kilogram per sample is pulverized to 70 per cent passing two millimetres (CRU-CPA), encapsulated in 500-gram-capacity separated plastic lids, adapted for the method and identified with bar codes and unique ID (identification) numbers. The gamma-ray-based PhotonAssay is directly processed in the MSALabs Val d'Or facilities. As the method is non-destructive, the assays can be reprocessed and are conserved for archive and future use in the plastic lids. For comparison, at the initiation of the drilling campaign, the method was tested against fire assays in ALS labs; a 50-gram fire assay analysis returned 15.75 g/t Au, compared with 16.02 g/t Au by PhotonAssay.

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