Mr. Mathieu Stephens reports

NEOTERREX RECEIVES DRILL PERMITS FOR ITS MONUMENT RARE EARTHS PROJECT

Neoterrex Minerals Inc. has received drill permits for its 100-per-cent-owned Monument rare earth element (REE) project, located in the Waswanipi/Montviel region of Quebec. The permits authorize Neoterrex to commence the first phase of drilling on a portion of its most prospective REE targets within the project area, which encompasses 53 mineral claims totalling 2,944 hectares. The project lies adjacent to the Montviel light rare earths deposit, which hosts a National Instrument 43-101-compliant indicated resource of 183.9 million tonnes grading 1.45 per cent total rare earth oxides (TREO) and 66.7 million tonnes inferred resource grading 1.46 per cent TREO (SGS Canada, 2011).

Neoterrex president and chief executive officer Mathieu Stephens commented: "The receipt of our drill permits comes at a very opportune time, coinciding with a surge of global interest and investment in the rare earths sector. We've defined several high-priority targets at the project and we're eager to initiate this first phase of drilling to further evaluate their potential."

The drill program is planned to commence in early November and will consist of 14 holes totalling 2,000 metres but may be expanded during the program if initial results warrant it. Only two historical drill holes, spaced approximately two kilometres apart, are known to have been completed within the project boundaries. These holes, originally drilled in the 1990s in search of diamonds, did not intersect kimberlite but instead cut through carbonatite -- a key host rock for REE. Historical records indicate that the core was never assayed for rare earths at the time.

In the fall of 2024, Neoterrex completed an airborne magnetic and electromagnetic survey over the project. The results outlined strong, coincident electromagnetic and magnetic anomalies, comparable with those associated with the nearby Montviel deposit. Follow-up work for 2025 consisted of surface prospecting, including soil and till sampling.

Neodymium, one of the primary rare earths found in carbonatite-hosted systems such as Monument, is a cornerstone of the modern clean energy economy and defence industry. It is a critical component in the manufacture of high-strength permanent magnets used in electric vehicle drivetrains, wind turbine generators, robotics and advanced defence technologies. Global demand for neodymium and other magnet-grade REE continues to rise sharply, driven by the accelerating electrification of transportation and renewable energy infrastructure. With supply chains heavily concentrated in Asia, rare earth projects are increasingly recognized as essential to the diversification and long-term security of Western supply.

Neoterrex remains well financed, with approximately $3-million in working capital and no debt, providing the flexibility to advance multiple projects in parallel. Alongside the project, the company continues to evaluate and advance a broader portfolio of critical mineral properties, each with REE and associated critical metal potential.

Through this multiproject exploration strategy, Neoterrex is reinforcing its role in the development of critical mineral resources across North America. The company's overarching objective is to help strengthen long-term supply security for Western markets. In advancing its exploration programs, Neoterrex continues to engage pro-actively with indigenous communities, ensuring that local perspectives and values are incorporated into all stages of project development.

Qualified person

The technical and scientific content of this news release has been reviewed, verified and approved by Mathieu Stephens, PGeo, president and CEO of Neoterrex, and a qualified person as defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Neoterrex Minerals Inc.

Neoterrex's projects are located in Quebec, a province recognized for its exceptional infrastructure, supportive regulatory framework and growing importance within the North American critical minerals supply chain. With a portfolio of well-positioned assets, Neoterrex is strategically aligned to capitalize on the accelerating demand for rare earth elements and other key materials essential to the defence industry and clean energy transition.

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