Mr. Frank Basa reports

NORD INITIATES MECP PRE-SUBMISSION CONSULTATION FOR GOWGANDA SILVER TAILINGS RECOVERY PROGRAM

Nord Precious Metals Mining Inc. has initiated presubmission consultation with the Ontario Ministry of the Environment, Conservation and Parks regarding the environmental permissions that may be required for its silver tailings recovery program in the Gowganda silver camp, Ontario.

On July 21, 2026, the company's technical team met with MECP's North Bay district office and Northern region technical support section to review project information and identify the materials expected to support future environmental submissions alongside the company's planned mineral recovery permit application under Ontario Regulation 463/24 (Part VII of the Mining Act).

The engagement advances the company's buildout. Over the past six months, Nord expanded capacity: The March 31, 2026, acquisition of four mining leases consolidated the historical silver tailings and the most productive past-producing ground in the Gowganda camp, complementing TTL Laboratories, the only permitted high-grade milling facility in the historic Cobalt camp. Capacity alone does not produce ounces. The company has therefore expanded capability in step: a dedicated permit team, specialist consultants, and defined contacts and work streams with Ontario's regulators.

Management commentary

"It is not enough to expand capacity. You must expand capability," stated Frank J. Basa, PEng, chairman and chief executive officer of Nord. "Six months ago, we consolidated the ground, the tailings and the only permitted high-grade mill in the camp. Now we have built the team and opened the regulatory channel to convert that capacity into production: one window at each ministry, one accountable co-ordinator on our side and a defined set of studies on a single schedule. The tailings get stabilized, the erosion stops and the metals pay for the cleanup."

"The ministry told us what it needs first: a project description, a site plan, a preliminary water balance and the baseline characterization program. Each work stream has an assigned owner, and each is in motion," said Alex Kuhnert, PEng, owner's representative. "The sequencing is the job, and the sequence is set."

From capacity to capability: team, permitting pathway and work program

The expanded capability is embodied in the team engaged with the ministries:

• Frank J. Basa, PEng, chairman and chief executive officer, provides metallurgical and qualified person oversight of the program.
• Alex Kuhnert, PEng, owner's representative (president, Ernesco Technical Advisory Services Inc.), is the single accountable coordinator of Nord's retained consultants and the company's point of continuity with both ministries. His career spans industrial water treatment with Nalco, mineral processing technology with FLSmidth and technical services with Bureau Veritas.
• T Engineering Inc. (retained April 8, 2026), led on the file by principal Bernie Ting, PEng, is responsible for process and mechanical engineering, including the preliminary process flow sheet presented to MECP at the July 21 session and the preliminary site water and mass balance now in preparation.
• Okane Consultants, an internationally recognized specialist in mine waste geochemistry and geotechnical services, leads geotechnical and geochemical characterization, including metal leaching/acid rock drainage assessment, through senior geochemist Hannah Balkwill Tweedie, MSc, PGeo.
• GeoVector Management Inc. is preparing the updated National Instrument 43-101 mineral resource estimate for the Gowganda property.
• Pathway Group leads government and stakeholder relations through Bill Mauro, a former Ontario Minister of Northern Development and Mines, Natural Resources and Forestry, and of Municipal Affairs and Housing, and Al MacDermid, a former senior policy adviser in Northern Development and Mines, co-ordinating the company's engagement across both ministries.

Ontario's recovery of minerals regime under Ontario Regulation 463/24, in force since July, 2025, was established to streamline and accelerate the recovery of minerals from historical tailings while advancing the remediation of legacy mine sites. As previously reported by the company, the Ontario Ministry of Energy and Mines has provided an advanced application template and outlined an approximately 80-day review pathway for a complete recovery permit application, and the first permit under the framework was issued in February, 2026, to STLLR Gold Inc.'s Hollinger tailings project in Timmins. The environmental track runs in parallel: at the July 21 session, MECP designated a district contact to co-ordinate its technical specialists and advised that, depending on final design, the project may require a site-specific environmental compliance approval for sewage works and a permit to take water for processing-related water takings. Baseline characterization is intended to support submissions to both ministries and reduce duplication across permitting processes while records of consultation with indigenous communities will form part of the company's submissions.

In written follow-up received July 22, 2026, MECP confirmed the consultation framework and requested a single consolidated submission covering a concise project description, site maps, available baseline data, anticipated water requirements, timelines, land information and indigenous consultation. The company's package will include the preliminary site water and mass balance and the geochemical recommendations memorandum now in preparation, and a district staff site visit will be scheduled once availability is confirmed.

The first phase contemplates on-site physical separation of historical silver-cobalt tailings through modular gravity concentration, with flotation retained as an option subject to technical and regulatory review, producing a silver-bearing mineral concentrate and a cleaned tailings fraction potentially suitable for engineered backfill while maximizing process water recycling. The material was mined approximately a century ago and remains at surface. Its recovery requires no blasting, hoisting or underground development. The processing installation is contemplated as modular and mobile, with closed-loop water handling, no poured concrete and the capability for redeployment across the company's district tailings holdings. Over the longer term, the company may evaluate third party tailings sources, with any such opportunity subject to land access, commercial arrangements, permit scope and all required environmental approvals. Subsequent downstream metal recovery is contemplated under a separate corporate and commercial structure, and is being advanced separately.

Near-term silver production to unlock district-scale value

The tailings recovery program anchors the company's strategy of advancing near-term silver production to unlock district-scale value on a defined milestone pathway: an updated National Instrument 43-101 mineral resource estimate for the Gowganda property, being prepared by GeoVector Management Inc. and expected in the second half of 2026; reprocessing economics; permitting; commissioning of the modular recovery circuit; and evaluation of repeat deployment. Recovery from above ground tailings offers a lower-capital, lower-risk route to first production than new mine development. Subject to successful technical work, demonstrated economics and receipt of all required approvals, cash flow from tailings recovery is intended to finance district-scale exploration and reduce reliance on repeated equity financing. A fully financed 5,000-metre phase is under way at Castle East within the broader planned 30,000-metre program, alongside the systematic advancement of the company's previously reported gold occurrences and exploration targets across Castle-Gowganda (see the company's July 13, 2026, news release).

Any previously reported figures for the Gowganda tailings constitute historical estimates only. A qualified person (as defined in NI 43-101) has not done sufficient work to classify the historical estimates as current mineral resources, and the company is not treating them as current mineral resources.

Cautionary note

The company's mineral recovery permit application under Ontario Regulation 463/24 remains a future step, and its scope, timing and approval are subject to regulatory processes and to the completion of the supporting technical work. Presubmission consultation with MECP, the assignment of a ministry contact and a proposed site visit do not constitute approval of any application by any ministry. The approximately 80-day pathway previously described by MEM relates to the review of a complete recovery permit application and does not govern separate MECP approvals. No assurance can be given that any permit or approval will be obtained on any particular timeline, or at all.

Qualified person

The scientific and technical information in this news release was reviewed and approved by Frank J. Basa, PEng (PEO), director of Nord Precious Metals, a qualified person in accordance with National Instrument 43-101.

About Nord Precious Metals Mining Inc.

Nord Precious is a silver exploration and development company focused on advancing the Gowganda silver tailings project in Ontario into near-term production. The company expects to complete a mineral resource estimate for the project, prepared in accordance with NI 43-101, within the next six months, followed by a technical report on the economics of reprocessing. Nord then intends to finance development of the tailings project on the strength of that study, with cash flow from reprocessing intended to finance exploration across its district-scale, high-grade silver projects, which have the potential for a significant impact on the value of the company.

Nord's production strategy is anchored by existing infrastructure. The company operates TTL Laboratories, the only permitted high-grade milling facility in Ontario's historic Cobalt camp, establishing an integrated position that connects the recovery of historical tailings and high-grade silver exploration with existing processing capacity.

The company's 63-square-kilometre flagship Castle property, including 225 hectares of leases, hosts three of the five most productive past-producing silver mines in the Gowganda camp (Siscoe-O'Brien, Castle and Millerett) along with the Castle East discovery. Castle East hosts a historical estimate reported in 2020 as an inferred mineral resource of 7.56 million ounces of silver grading 8,582 grams per tonne silver (250.2 ounces per ton) in 27,400 tonnes across two sections (1A and 1B) of the Robinson zone, beginning at a vertical depth of approximately 400 metres (NI 43-101 technical report, effective May 28, 2020).

The company considers the estimate reliable for historical-context purposes because it was prepared by an independent qualified person from drill data the author considered suitable, and relevant because they inform continuing Castle East exploration. Key assumptions included a 1.3-metre minimum horizontal width including dilution, uncapped 0.5-metre composites, one-metre cubic blocks, 3.4-tonne-per-cubic-metre specific gravity and two-pass inverse-distance-squared interpolation within search ellipsoids. It was reported in situ without mining dilution at a $125 (U.S.) minable-shape cut-off (258 g/t silver equivalent), including mining, shipping and smelting costs, and 95-per-cent recovery.

The inferred mineral resource category is directly comparable with the category of the same name under current Canadian Institute of Mining, Metallurgy and Petroleum definition standards. No non-CIM category was used. No more recent mineral resource estimate exists. The independent technical report effective Dec. 3, 2025, reviewed subsequent data but reported no current mineral resource estimate, and later drilling remains unincorporated. Verification or upgrading requires qualified person validation of the drill, quality assurance/quality control and geological data; further drilling and analytical work as required; specific-gravity work; updated assumptions; geological modelling; and a new NI 43-101 mineral resource estimate. A qualified person has not done sufficient work to classify the historical estimate as a current mineral resource, and the company is not treating it as a current mineral resource.

Nord's integrated processing strategy is intended to support multiple metal recovery streams. The Re-2Ox hydrometallurgical process, validated at pilot scale through SGS Lakefield, is designed to address arsenic in complex silver-cobalt ores while producing technical-grade cobalt sulphate and other metal products. Together with TTL Laboratories and underground mine access, this approach positions Nord within Ontario's emerging critical mineral supply chain.

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