Mr. Duane Nelson reports

RZOLV TECHNOLOGIES AND NOVAMERA PARTNER TO ADVANCE A NEW MINE-TO-METAL PATHWAY TO UNLOCK DOMESTIC MINERAL SUPPLY

Rzolv Technologies Inc. has entered into a strategic memorandum of understanding effective Aug. 10, 2026 (the MOU), with Novamera Inc. to evaluate the integration of Novamera's surgical mining platform with Rzolv's proprietary, water-based, non-cyanide hydrometallurgical technology.

The collaboration will explore a new mine-to-metal development pathway designed to quickly access mineralization, preserve grade and process material through potentially smaller, modular infrastructure -- creating a potential route to unlock new metal production for narrow-vein, high-grade, brownfield and other deposits that may be difficult or uneconomic to advance through the conventional mine-and-mill model.

Novamera's surgical mining platform is designed to selectively extract mineralized material using precision drilling and subsurface guidance, with the objective of reducing dilution, waste movement, surface disturbance and capital intensity. Rzolv can dissolve and recover precious and critical metals under controlled aqueous conditions without the use of cyanide during the leaching stage. Together, the technologies may provide a complementary extraction-and-recovery platform capable of treating smaller, higher-grade and lower-dilution feedstocks through modular processing infrastructure.

The strategic premise is to connect two traditionally separate stages of the mining value chain. If successfully integrated, the combined approach could provide a more direct mine-to-metal pathway: precisely target mineralization, selectively extract the material, process it through modular infrastructure and recover a saleable or refinery-ready metal product.

"We believe many mineral deposits may remain undeveloped or stranded not because the target metal is absent, but because conventional mining methods can introduce excessive dilution, waste movement, capital requirements or permitting complexity," said Duane Nelson, president and chief executive officer of Rzolv Technologies. "Novamera is developing a selective approach to the extraction side of that challenge, while Rzolv may provide a complementary downstream pathway through modular, non-cyanide mineral processing. This MOU provides a disciplined framework for our teams to conduct the testing and evaluation required to determine whether the two platforms can be successfully integrated and deliver measurable technical, environmental and economic benefits."

"Mining has traditionally been designed around scale -- large mines feeding large, centralized processing infrastructure. Surgical Mining is creating another option: selectively access the mineralization you want while leaving significantly more waste behind," said Theresa Quick, CRO of Novamera. "By connecting targeted extraction with modular downstream recovery, we have an opportunity to evaluate a much more direct mine-to-metal pathway. The goal is to determine whether we can unlock deposits faster, with less infrastructure and capital, while producing a material or metal product that can move directly into the downstream supply chain."

Proposed scope of the collaboration

The first formal deliverable contemplated by the MOU is a joint technical evaluation protocol. The protocol is expected to establish candidate-selection criteria, sample requirements, baseline geological and metallurgical characterization, testing procedures, decision gates and disclosure discipline. The contemplated workstreams include:

• Desktop screening -- identify candidate deposits and operator opportunities where selective extraction and Rzolv chemistry may each provide a meaningful contribution;
• Baseline characterization -- evaluate deposit geometry, grade distribution, expected dilution, mineralogy, gold and silver deportment, base and trace metals, sulphide content, particle-size expectations, acid/base behaviour, water chemistry, and environmental baseline data;
• Selective feed generation -- evaluate whether surgical mining can generate a sufficiently high-grade, low-dilution and process-compatible material stream through extraction, pilot extraction, bulk sampling or simulated feed generation;
• Rzolv leach optimization -- measure pH and ORP requirements, reagent dose, oxidant requirements, leach kinetics, precious-metal extraction, reagent consumption, impurity dissolution and solution quality;
• Downstream recovery -- evaluate activated carbon, ion exchange resin, electrowinning or other recovery routes using actual Rzolv pregnant leach solution;
• Recycle and environmental validation -- assess water management, solution recycle, residue washing, neutralization, leachability, toxicity and related environmental end points;
• Commercial gate review -- determine whether the combined pathway can produce a saleable or refinery-ready product within a technically, economically and environmentally defensible system.

A stage-gated development approach

The parties intend to apply defined technical and commercial decision gates before advancing any project. These gates are expected to include deposit suitability, extraction selectivity, feed quality, mineralogical accessibility, Rzolv leach performance, downstream metal recovery, solution recycle, residue and water validation, permitting considerations, and comparative project economics.

The MOU does not establish that the combined platform will be technically or commercially successful on any particular deposit. Performance will depend on deposit geometry, mineralogy, grade, liberation, impurity load, extraction selectivity, reagent consumption, downstream recovery and site-specific operating and regulatory conditions. Representative testwork and project-level engineering will be required before any development or commercial decision is made. Environmental or permitting claims must be supported by measured, project-specific data.

Potential strategic benefits

If validated, the integrated platform could establish a differentiated mine-to-metal development pathway built around selective extraction, modular processing and faster conversion of in-ground mineralization into usable metal. Potential benefits may include:

• Unlocking stranded resources -- creating a development option for smaller, high-grade, narrow-vein, brownfield, satellite and other deposits that may not support conventional mine-and-mill economics;
• Preserving grade from mine to process -- selectively extracting mineralization with less dilution and waste movement, potentially creating a smaller-volume, higher-value feed stream;
• Smaller, modular infrastructure -- matching processing capacity to selective production rather than requiring large, centralized facilities, including a non-cyanide leaching pathway during the Rzolv recovery stage;
• A more direct path to metal -- integrating extraction and recovery with the objective of producing a saleable or refinery-ready product closer to the source and potentially reducing dependence on toll mills, concentrate transport or external smelters in selected applications;
• Lower upfront development requirements -- potentially reducing the infrastructure and capital required to begin extracting and validating mineral resources;
• Progressive development -- supporting bulk sampling, early production, commercial validation and potentially scalable deployment as resource confidence grows.

The collaboration is consistent with Rzolv's partner-led commercialization strategy, under which the company seeks to integrate its chemistry with complementary mining, processing, recovery and equipment platforms. Potential commercial structures may include paid testwork, reagent supply, technical services, project-specific licensing, royalties, processing fees or other arrangements negotiated separately for qualifying projects. There can be no assurance that the collaboration will result in any testing program, commercial arrangement or revenue.

MOU terms. The MOU (memorandum of understanding) is non-binding except for specified provisions concerning confidentiality, intellectual property, reverse engineering and non-use, opportunity protection, approved cost obligations, public disclosure, governing law, dispute resolution, and termination. Each party will bear its own internal costs for preliminary discussions and desktop review. Laboratory, field, pilot, or other external work requires a written budget and work plan approved by both parties. The MOU does not create broad exclusivity; any exclusivity must be limited to a specific project, operator or opportunity accepted in writing, and tied to agreed activity, milestones, funding and technical progress. No joint venture, licence, reagent-supply obligation or commercial transaction will arise unless documented in a definitive written agreement.

About Novamera Inc.

Novamera is a Canadian mining-technology company developing and commercializing surgical mining, a precision mining platform designed to unlock mineral resources faster through targeted extraction, advanced orebody intelligence and dynamic mine planning. Surgical mining selectively accesses mineralization while reducing dilution, waste movement, surface disturbance and infrastructure requirements, creating a potential alternative development pathway for narrow-vein, high-grade, steeply dipping, brownfield, crown-pillar, pit-extension, satellite, bulk-sample and other deposits that may not fit the conventional mine-and-mill model.

About Rzolv Technologies Inc.

Rzolv Technologies is a Canadian clean-technology company advancing a proprietary hydrometallurgical chemistry platform for the recovery of precious and critical metals from ores, concentrates, tailings, and selected secondary feedstocks.

The company's flagship technology, Rzolv, is a proprietary, water-based, non-cyanide dissolution system designed to support metal recovery in applications where conventional cyanide-based methods may be constrained by metallurgy, permitting, toxicity, environmental management or operating cost. Rzolv is being developed as a controlled aqueous redox-complexation platform intended to provide mining and resource -- recovery operators with an alternative recovery pathway for selected feed materials.

We seek Safe Harbor.