Dr. Tim Coughlin reports

ROYAL ROAD MINERALS IDENTIFIES BROAD HYDROTHERMAL SYSTEM AND HIGH-GRADE SILVER-ANTIMONY VEINS AT THE MARGARITAS TARGET, GAM PROJECT; COLOMBIA

Royal Road Minerals Ltd. has released results from its first exploratory diamond drilling program at the Margaritas target, part of the company's wholly owned Guintar-Aleman-Margaritas gold-copper-silver project in Antioquia province, Colombia.

Initial drilling at Margaritas comprised four scout diamond drill holes for a total of 1,154 metres, and has identified a broad polymetallic hydrothermal system developed within altered volcanic and intrusive rocks. Mineralization occurs as hydrothermal breccias, stockwork vein systems, quartz-tourmaline breccias and sulphide-rich alteration zones carrying low-grade gold-silver mineralization with locally elevated copper values. These broader mineralized zones are crosscut and locally upgraded by later silver-antimony carbonate-base-metal veins and breccias, which have returned high-grade silver and significant antimony values over minable widths.

Notable drill results

System interpretation

Drill holes MAR-DD-003 and MAR-DD-004 returned 304 metres and 231 metres, respectively, at 0.3 gram per tonne gold equivalent from surface to end of hole. While these intervals are not considered economically significant, they highlight the scale of hydrothermal alteration and mineralization encountered at Margaritas.

Drill holes MAR-DD-003 and MAR-DD-004 intersected altered volcanic and intrusive rocks hosting broad zones of hydrothermal breccia, stockwork veining, quartz-tourmaline breccias and sulphide-rich alteration characterized by low-grade gold-silver mineralization with locally elevated copper values. These broader mineralized zones are interpreted to represent the outer expression of a larger hydrothermal system.

Quartz-tourmaline breccias are commonly associated with the broader low-grade hydrothermal system and appear to represent pathways for hydrothermal fluids rather than the principal hosts to high-grade silver-antimony mineralization.

These broader mineralized zones are locally overprinted and upgraded by carbonate-base-metal veins and breccias carrying elevated silver, antimony, lead and zinc values. The highest-grade silver and antimony intersections reported to date are associated with this later mineralizing event.

Drill holes MAR-DD-001 and MAR-DD-002 tested the strike continuity of later silver-antimony carbonate-base-metal veins and breccias. These holes confirmed high-grade silver-antimony mineralization over minable widths but terminated in a syn- to late-mineralization granodiorite.

District-scale implications

Margaritas is located approximately four kilometres south of the Guintar porphyry discovery and approximately three kilometres south of the Algodona target. Recent drilling at Guintar, combined with geophysical modelling and geological interpretation, has highlighted the potential for a cluster of mineralized porphyry centres within the GAM project area (see press release dated May 5, 2026).

The geological and geochemical characteristics observed at Margaritas suggest a relatively distal position within this broader mineralized environment. Surface geochemistry, petrography and geological mapping indicate increasing exploration potential toward the south and at depth.

While it remains early in the exploration process, the company believes Margaritas may represent part of the broader hydrothermal footprint associated with the emerging GAM porphyry cluster. Further drilling and vectoring studies will be required to determine the relationship between Margaritas and nearby porphyry targets.

"We knew from geochemical studies and alteration mapping prior to drilling that near-surface mineralization at Margaritas was located at some distance above or adjacent to a potential porphyry target," said Dr. Tim Coughlin, president and chief executive officer of Royal Road Minerals. "The high-grade silver-antimony veins were not obvious on surface and are a pleasant surprise. Together with the broader mineralized zones identified during drilling, they further corroborate the distal model and provide important vectors toward the porphyry target. Now that all drill results are in hand, we will commence detailed geochemical and geophysical vectoring studies designed to locate follow-up drill holes aimed at identifying the primary source of the hydrothermal system while continuing to evaluate the economic potential of the high-grade silver-antimony veins."

About the GAM project

The GAM project is wholly owned by Royal Road and is located approximately 50 kilometres west of Medellin in the department of Antioquia, Colombia. The project comprises the Guintar and Margaritas mining concession contracts, in addition to the El Aleman mining and Chuscalita mining concession contracts. The Guintar and Margaritas mining concession contracts were obtained through Royal Road's acquisition of Northern Colombia Holdings Ltd., a wholly owned subsidiary of AngloGold Ashanti Ltd. (see press release dated May 31, 2019). El Aleman and Chuscalita are subject to option agreements pursuant to which Royal Road holds the exclusive right to acquire a 100-per-cent interest (see press releases dated Jan. 12, 2026, and Dec. 14, 2021).

About Royal Road Minerals Ltd.

Royal Road Minerals is a mineral exploration and development company with its head office and technical operations centre located in Jersey, Channel Islands. The company is listed on the TSX Venture Exchange under the ticker RYR, on the OTCQB under the ticker RRDMF and on the Frankfurt Stock Exchange under the ticker RLU. The company's mission is to apply expert skills and innovative technologies to the process of discovering and developing copper and gold deposits of a scale large enough to benefit future generations and modern enough to ensure minimum impact on the environment and no net loss of biodiversity. The company currently explores in the kingdoms of Saudi Arabia and Morocco and in Colombia.

The scientific and technical information contained in this news release has been prepared, reviewed and approved by Dr. Tim Coughlin, BSc (geology), MSc (exploration and mining geology), PhD, FAusIMM, president and chief executive officer of Royal Road Minerals, a qualified person as defined under National Instrument 43-101.

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