Mr. Tyrell Sutherland reports

VIRIDIAN ANNOUNCES INITIAL EXPLORATION TARGET AT KRAKEN MAIN ZONE

Viridian Metals Inc. has outlined an exploration target of 41 million to 61 million tonnes (t) grading 0.35 per cent to 0.52 per cent copper equivalent (CuEq) at Kraken Main, part of the company's 100-per-cent-owned Kraken copper-nickel-cobalt project in Labrador. The potential quantity and grade of an exploration target are conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the exploration target being delineated as a mineral resource.

Highlights:

• Conceptual exploration target of 41 million to 61 million t grading 0.35 to 0.52 per cent CuEq;
• Target is based on a modelled average mineralized thickness of 8.6 metres (m);
• Continuing 2026 drilling -- including the recently reported 50.15-metre mineralized interval -- is not included in the conceptual exploration target.

The initial exploration target is based entirely on drilling completed prior to the current 2026 program and uses an average mineralized thickness of 8.6 metres. None of Viridian's 2026 drilling is included, including the recently reported 50.15-metre mineralized interval in VKS25-024 (as reported in Viridian's news release dated Sept. 8, 2026).

"The important thing about this initial target is what is not in it," said Tyrell Sutherland, president and chief executive officer of Viridian Metals. "It is based on an average mineralized thickness of just 8.6 metres, includes none of our 2026 drilling and covers only Kraken Main within a broader system containing over 60 conductors. With relatively sparse drilling informing the target, there remains a great deal to learn about the thickness and continuity of this zone. We have already reported mineralized intervals exceeding 50 metres from this year's program and continue to infill it to better define its scale. This gives us a solid starting point for understanding the potential of the broader Kraken system."

Exploration target covers one of Over 60 Kraken conductors

The Kraken Main exploration target covers a footprint of approximately two square kilometres (km) and represents only a portion of the broader conductive system identified at Kraken. More than 60 conductors have been identified across the project. Only four have been drill tested to date, with all four intersecting magmatic sulphide mineralization. These additional conductors provide numerous targets for future exploration beyond the current Kraken Main footprint.

What is an exploration target?

An exploration target provides an estimate of the potential scale and grade of a mineralized system at a stage when there is not yet sufficient information to define a mineral resource. Viridian has chosen to publish an exploration target for Kraken Main to provide investors with a quantitative framework for understanding the scale indicated by the drilling completed to date, while exploration of the system continues.

The potential quantity and grade of the exploration target are conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the exploration target being delineated as a mineral resource. Exploration targets should not be misunderstood as, or equated with, mineral resources or mineral reserves.

Exploration target methodology

The exploration target was prepared by APEX Geoscience Ltd. using drilling and geophysical data available prior to the 2026 drill program. The estimate combines the interpreted mineralized footprint at Kraken Main with drilling-derived mineralized thicknesses and grades and an average bulk density of 3.0 t per cubic m. The density is based on 42 measurements collected during the 2024 and 2025 drill programs.

Mineralized intervals were defined using a cut-off of 0.15 per cent CuEq. Intervals above the cut-off were grouped into contiguous mineralized composites, allowing limited internal dilution, and composited to two-metre lengths. Historical unsampled intervals were not treated as waste where modern drilling indicated that mineralization generally continued through these intervals.

Spatial declustering was applied to reduce the influence of more closely spaced drilling so that densely drilled areas did not disproportionately affect the estimate. The declustered drill hole intervals produced a spatially representative modelled average mineralized thickness of 8.6 metres at Kraken Main.

The same two-metre composites were used to determine representative grades, with spatial declustering applied to manage the influence of uneven drill spacing. The lower and upper bounds of the exploration target were generated by applying plus or minus 20 per cent to the thickness and grade.

Copper equivalent grades were calculated using the following formula: CuEq equals copper (%) per cent 1.88 times nickel (per cent) plus 3.75 times cobalt (per cent).

The calculation assumes metal prices of $4 (U.S.) per pound (lb) copper, $7.50 (U.S.) per lb nickel and $15 (U.S.) per lb cobalt, and metallurgical recoveries of 80 per cent for copper, nickel and cobalt. Project-specific metallurgical testing has not yet been completed at Kraken.

Current exploration and next steps

The exploration target provides a conceptual estimate of the potential scale of Kraken Main based on drilling completed prior to the 2026 program. Viridian's continuing 2026 drill program is focused on expanding and better defining the mineralized system at Kraken Main. Results from the current program are not incorporated into the exploration target announced today.

The company plans to initiate metallurgical testwork in late Q4 (fourth quarter) 2026 to establish project-specific recoveries for copper, nickel and cobalt. The current exploration target assumes an recovery of 80 per cent for each metal. The metallurgical program will provide the first project-specific recovery data for Kraken and will be incorporated into subsequent modelling and copper equivalent calculations.

Future geological modelling will also evaluate Kraken Main across a range of CuEq cut-off grades. The current exploration target uses a cut-off of 0.15 per cent to define mineralized intervals. Evaluating multiple cut-off scenarios will allow the company to better understand the relationship between tonnage and grade as geological understanding of Kraken Main continues to improve.

The continuing drill program will continue to test the extent and continuity of mineralization at Kraken Main, with additional assay results expected as drilling progresses.

2026 drilling update

Viridian has also received final overlimit assay results for three samples from the continuing 2026 drill program at Kraken Main. The three samples update the initial results for hole VKS26-054 previously reported on Sept. 8 (see Viridian news release dated Sept. 8, 2026, which is available on the company SEDAR+ profile and the company's website). These samples represent an aggregate core length of approximately 2.5 metres in the previously reported interval from 20.7 to 26.9 m in hole VKS26-054. Samples were submitted for overlimit analysis after exceeding the upper detection limit of the original analytical method.

The overlimit results form part of the continuing 2026 drill program and were not considered when outlining the exploration target announced today. Additional assays from the 2026 program remain pending and will be reported as they are received and reviewed.

QA/QC (quality assurance/quality control)

On receipt from the drill site BTW-sized drill core was systematically logged for geological attributes, photographed and sampled at Viridian's core shack at the Kraken camp. Sample lengths as small as 0.30 m were used to isolate features of interest, but most samples within moderate to strong mineralization were 0.5 to 1.0 m in length. Core was cut in half lengthwise along a predetermined line, with one-half (same half, consistently, dictated by cut line where present) collected for analysis and one-half stored as a record. Standard reference materials and blanks were inserted by Viridian personnel at regular intervals into the sample stream. Bagged samples were sealed with security tags to ensure integrity during transport. They were delivered by expeditor to Activation Labs' facility in Ancaster, Ont.

Activation Labs is independent of Viridian and accredited to ISO/IEC 17025. Samples were dried, crushed (less than seven kilograms (kg)) up to 80 per cent passing two millimetres (mm) using riffle split (250 grams (g)) and pulverized to 95 per cent passing 105 microns (code RX1). A four-acid near-total digest with an inductively coupled plasma optical emission spectroscopy (ICP-OES) finish was used for 35-element analysis on 25 g sample pulps (code 1F2). Samples that were over the analyses limit for Co (cobalt), Cu (copper) and Ni (nickel) were reanalyzed using sodium peroxide fusion ICP (code 8-peroxide).

Qualified person

Tyrell Sutherland, PGeo, president and CEO of Viridian Metals, who is a qualified person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects, has reviewed and approved the technical disclosure contained in this news release, other than the exploration target and the technical information relating to its preparation and estimation.

The exploration target and the technical information relating to its preparation and estimation have been prepared, reviewed and approved by Roy Eccles, PGeo, of APEX Geoscience Ltd., an independent qualified person as defined by NI 43-101.

Marketing services agreement

Viridian also announces that it has entered into a new marketing services agreement effective Sept. 14, 2026, with Outside The Box Capital Inc. (OTB Capital), an Ontario-incorporated marketing firm focused on retail investor outreach and digital community development. The company previously entered into an agreement with OTB Capital dated April 15, 2026 (as disclosed in the company's news release dated April 15, 2026), which agreement (and 125,000 unvested options granted thereunder) expired on July 14, 2026, in accordance with its terms.

Under the agreement, OTB Capital will provide digital marketing and investor awareness services, including strategic communications planning, social media management and community building, dissemination of company-approved content, introduction of company news to prospective investors, and inclusion of the company in influencer-driven content and Q&A (question-and-answer) video productions. The services will be provided across platforms, including Reddit, Discord, Stocktwits, Yahoo Finance discussions, X, Telegram and YouTube. The agreement does not contain any performance-based compensation.

The agreement will remain in effect from Sept. 14, 2026, through March 15, 2027, subject to earlier termination in accordance with its terms. As compensation for the services, the company has agreed to pay OTB Capital a total cash fee of $150,000 (Canadian), consisting of $75,000 (Canadian) on the effective date of the agreement and $75,000 (Canadian) 90 days thereafter, provided the agreement has not been terminated prior to that date.

The company has also granted OTB Capital options to acquire up to 214,286 common shares of the company. Each option is exercisable at 70 cents per share and expires at the end of the initial term. The options vest in two equal instalments of 107,143 options, on the effective date of the agreement and 90 days thereafter, in each case subject to OTB Capital's continued provision of services on the applicable vesting date. The options are governed by the company's omnibus equity incentive plan, the policies of the Canadian Securities Exchange and applicable securities legislation.

OTB Capital is located at 2202 Green Orchard Pl., Oakville, Ont., L6H 4V4, and can be contacted at 289-259-4455 or jason@outsidethebox.capital. As of the date of the agreement, to the best of the company's knowledge, neither OTB Capital, nor its directors or officers, holds any securities of the company, although OTB Capital may acquire securities of the company during the initial term. OTB Capital and its principals are at arm's length to the company.

About Viridian Metals Inc.

Viridian Metals is a pioneer and leader in generative metal exploration with a focus on environmental responsibility and ethical practices. Founded with the intention of discovering new critical metals deposits with the potential to transform the metal supply chain, the company leverages innovative technologies and methods to enhance efficiency and sustainability in jurisdictions eager to be leaders in supplying the energy transition. Viridian maintains expertise in a range of critical metals with a primary focus on copper, nickel and cobalt in the near term. Its commitment to integrity and transparency fosters strong partnerships with both local and global stakeholders.

We seek Safe Harbor.