Mr. Damien Reynolds reports

MINERAL ROAD COMMISSIONS STRATEGIC REVIEW OF SIGNIFICANT BERGSLAGEN TUNGSTEN PROJECT IN SWEDEN

Mineral Road Discovery Inc. has engaged United Kingdom-based natural resource consultant Bill Murphy, principal of Murphy Resource Consultants, to undertake a strategic review of the company's Bergslagen tungsten project in Sweden.

The review will focus on the development potential of the significant historical surface tailings opportunity and the broader hardrock tungsten potential at the Bergslagen project.

Bergslagen is centred on the historic Yxsjoberg tungsten mining district, and contains substantial historical tailings, extensive underground workings, and a significant body of historical geological and exploration information.

The company believes these features provide an opportunity to consider a staged approach to development, beginning with the surface tailings and, subject to further exploration and technical work, progressing to shallow and deeper hardrock mineralization.

Bergslagen at a glance:

• Sweden: located in an established European mining jurisdiction;
• Historic tungsten district: Yxsjoberg has a long history of tungsten mining, providing an extensive geological and mining record;
• Three-stage potential: surface tailings, shallow hardrock mineralization and deeper underground mineralization.

Strategic timing

The strategic review comes at a time when tungsten and other critical minerals are receiving increasing attention from governments and industry because of their importance to economic security, defence, advanced technology and the energy transition.

Tungsten is classified by the European Union as both a critical raw material and a strategic raw material under the EU Critical Raw Materials Act. The European framework recognizes the strategic importance of tungsten and the need to strengthen European supply chains for materials where supply risks are significant.

Sweden is also placing increasing strategic importance on the development of its domestic mineral resources. Sweden's current mineral strategy highlights the changed security environment, Europe's dependence on imported metals and minerals, and the need to strengthen Sweden's contribution to European raw material supply.

The Swedish Geological Survey has identified tungsten and other critical raw materials in the Bergslagen district, and has highlighted the potential for recovering critical and strategic raw materials from historical mining waste in the region.

Mineral Road believes that Bergslagen's location in Sweden, its history of tungsten mining, substantial surface tailings and broader exploration potential provide a strong foundation from which to assess the project's potential role in future European tungsten supply.

Bill Murphy stated: "I have more than 30 years experience evaluating, financing and developing natural resource projects across multiple commodities and jurisdictions. Having reviewed the information available on Bergslagen, I believe the project warrants a detailed assessment of how its various opportunities can best be developed and the potential value that could ultimately be created from them.

"The timing is also important. Tungsten has become an increasingly strategic mineral as governments and industry look to secure supplies outside China. Recent export controls and concerns over the security of global tungsten supply have highlighted the need for reliable new sources of production in Europe and other allied jurisdictions.

"Bergslagen is particularly interesting because it is not simply an exploration target. It is a historic tungsten mining district with substantial tailings, historical underground workings and a significant amount of historical geological information. I am particularly interested in understanding whether the surface tailings can provide an early development opportunity while the shallow hardrock mineralization could potentially provide a link to the larger underground system.

"The immediate objective is to establish what can be developed first, what additional work is required and how the different parts of the project could potentially fit together over time."

Surface tailings -- potential early development opportunity

The historical surface tailings represent the company's most immediate development focus.

Because the material has already been mined and is located at surface, the company believes it warrants priority evaluation as a potential first stage of development, subject to confirmation of tonnage, grade, mineralogy, recoveries, permitting and economic viability. A number of academic studies have already provided initial recommendations for processing, as well as potential recoveries, although these technical data have not been reviewed by Mineral Road's qualified person.

Mineral Road intends to undertake additional drilling, sampling and metallurgical testwork to establish the quantity, grade, mineralogy and recoverability of tungsten and associated minerals contained within the tailings. The company is also evaluating the early involvement of experienced processing specialists in the program so that metallurgical testwork can commence as samples become available. The objective is to determine whether the tailings can support a commercially viable reprocessing operation and, if so, to establish the technical basis for a future resource estimate and scoping-level economic assessment.

The company believes that, if technically and economically viable, reprocessing historical mine tailings could provide an opportunity to establish an initial development phase while also addressing the environmental legacy associated with historical mining activities.

Shallow hardrock potential

Historical exploration has identified shallow tungsten mineralization in the Kvarnasen area of the Yxsjoberg district. Mineral Road is reviewing this historical information to determine the continuity and potential scale of the mineralization and whether it could represent a potential near-surface mining opportunity.

Of particular interest is whether the shallow mineralization could potentially be developed without initially relying on rehabilitation of the historical underground workings. This will require further geological, metallurgical, geotechnical, environmental, permitting and economic work.

The company believes that, if confirmed, the shallow mineralization could provide an important link between the surface tailings and the deeper hardrock tungsten system.

Broader exploration potential

The Bergslagen project covers an area containing numerous historical workings, drill holes, geophysical targets and other prospective areas. When the Yxsjoberg tungsten mine closed in 1989, there was still tungsten mineralization scheduled for future production. A number of exploration targets had also been partially explored. Mineral Road's qualified person has not reviewed this mineralization, and none of this mineralization should be considered a resource under National Instrument 43-101 regulations. The company will need to do additional technical studies to determine if any of this mineralization can be converted into current resource estimates.

The company believes there is potential for additional tungsten and associated critical mineral mineralization across the district although further exploration will be required to establish its extent, continuity and economic significance.

A staged development approach

Mineral Road's strategic objective is to determine whether Bergslagen can support a staged development approach: historical surface tailings, then shallow hardrock mineralization and then deeper underground mineralization.

The company's objective is to determine whether these three components can be developed progressively, with the tailings potentially providing an initial production opportunity, shallow mineralization providing a potential intermediate source of hardrock ore and the deeper system representing longer-term expansion potential.

The company believes that establishing an initial development opportunity from the surface tailings while simultaneously advancing the broader hardrock exploration program could provide an efficient way of progressively evaluating and derisking the project.

About Bill Murphy

Mr. Murphy is a U.K.-based natural resource consultant and principal of Murphy Resource Consultants. Mr. Murphy has more than 30 years experience evaluating, financing and developing natural resource projects across multiple commodities and international jurisdictions, with a core focus on identifying undervalued assets, formulating accelerated development strategies and executing commercial pathways to unlock shareholder value.

Mr. Murphy will assist Mineral Road in assessing the development options for Bergslagen, including the potential sequencing of the tailings, shallow hardrock and deeper underground opportunities.

About Mineral Road Discovery Inc.

Mineral Road is a Canadian exploration and development company focused on critical and strategic minerals.

The company's Bergslagen tungsten project is located in southern Sweden and encompasses the historically significant Yxsjoberg tungsten district.

Mineral Road's immediate focus is on advancing the historical surface tailings opportunity while continuing to evaluate the broader tungsten and critical mineral potential of the Bergslagen district.

Mineral Road cautions that certain historical technical information, exploration results, academic studies and historical production information referenced in this news release have been derived from historical sources and have not been independently verified by a qualified person under National Instrument 43-101 (Standards of Disclosure for Mineral Projects). Such information is provided for context only and should not be considered a current mineral resource or mineral reserve.