Mr. Kelly Malcolm reports

BOREALIS ANNOUNCES FIRST GOLD POUR

Borealis Mining Company Ltd. has successfully completed the first pour of gold and silver dore from the previously announced stockpile crushing and heap leaching at the Borealis mine site. A total of 65.6 pounds, equivalent to 956.7 troy ounces of dore, were poured in two bars.

The company has sent the dore to Asahi Refining in Salt Lake City, Utah, for refining and eventual sale. Borealis is awaiting assay results from the pour to determine the grade and value of the dore but preliminary results indicate roughly a 50/50 gold-silver ratio, plus some additional waste metal. Heap leaching and crushing of the stockpile of oxide material continue, with approximately 106,000 tons being treated with cyanide solution and another 34,000 tons crushed and not yet subjected to heap leaching. Gold and silver are actively being collected in Borealis's carbon columns and the company anticipates its next pour in several weeks.

Andreas Steckenborn, chief operating officer of Borealis, stated: "This is a genuine milestone for our team, the company and its shareholders. This pour represents the first genuine gold and silver production from fresh oxide material that Borealis has crushed, trucked to the leach pad and treated with cyanide. We've spent an immense amount of time and effort over the past two years optimizing our operations and training and the result was a perfectly executed pour. Our carbon columns are well loaded with gold and silver for the next pour, which should occur in the next few weeks. Borealis stakeholders can look forward to steady revenue for the next several months, which we intend to grow upon with the upcoming restart of the Borealis mine. We will update the market on timing of the restart of mining in the near term."

Qualified person and quality assurance/quality control

The scientific and technical content of this news release was reviewed, verified and approved by Kelly Malcolm, PGeo, chief executive officer of the company and a qualified person as defined by Canadian Securities Administrators' National Instrument 43-101, Standards of Disclosure for Mineral Projects.

Borealis mine

The Borealis mine property, located close to the town of Hawthorne, Nev., is fully permitted and equipped for present mine operations and future expansion, with existing open pits, heap-leach pads, modern infrastructure and a functional ADR (adsorption, desorption and recovery) facility that produces dore bars. The project has historically produced over 600,000 ounces of gold from an open-pit heap-leach operation. It is an underexplored property and has not been drilled since 2011, aside from Borealis's efforts in 2024 and 2025. The property possesses high-grade expansion potential with excellent historical drilling results, along with a number of untested regional targets.

The Borealis project holds existing federal and state permits for mining and processing operations. However, certain permit modifications may be required for expanded production, and the timeline for such approvals is subject to regulatory review. The company cannot guarantee the timing or success of any permit modifications that may be required for future expansions.

About Borealis Mining Company Ltd.

Borealis is a gold mining and exploration company focused on exploration and resumption of production of the Borealis mine in Nevada and the advancement of its Sandman project, also in Nevada. The Borealis mine is a fully permitted mine site, equipped with active heap-leach pads, an ADR facility and all necessary infrastructure to support a heap-leach gold mining operation. In addition to the mine, the property, comprising 815 unpatented mining claims of approximately 20 acres each, totalling approximately 16,300 acres, and one unpatented mill site claim of about five acres located in western Nevada, is highly prospective for additional high-sulphidation gold mineralization. The Sandman project, recently acquired through the acquisition of Gold Bull Resources Inc., is an advanced exploration project with a recently completed (2021) NI 43-101-compliant resource and a recent (2023) preliminary economic assessment, which indicates compelling economics, particularly in light of the increase in commodity prices since publication of the study. Borealis is led by a strong board and management team, many of whom have founded, managed and sold highly successful mining and exploration companies.

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