Vancouver, British Columbia--(Newsfile Corp. - June 12, 2026) - Casa Minerals Inc. (TSXV: CASA) (OTCQB: CASXF) (FSE: 0CM) (the "Company" or "Casa") is providing an update to its news release dated June 8, 2026, wherein the Company announced that it expected the management cease trade order that was granted on May 1, 2026 (the "MCTO") to be revoked shortly after completing the filing of: (1) the audited annual financial statements for the year ended December 31, 2025, (2) the management discussion and analysis and, (3) related Chief Executive Officer and Chief Financial Officer certificates.

However, since the news release, the Company has encountered difficulties with completing its interim financial report and related management discussion and analysis for the period ended March 31, 2026 (the "Q1 Financials"). The Company expects that it will not file the Q1 Financials by the June 15, 2026 deadline and the MCTO will remain in effect. The Company has engaged an accounting consultant to assist with the completion of the Q1 Financials. The Company is, with the additional help of the accounting consulting, working diligently to finalize the Q1 Financials and anticipates it will be able to remedy the upcoming default by filing the Q1 Financials by June 30, 2026.

The MCTO will be in effect until the Q1 Financials are filed and all management, officers and directors of the Company will be prohibited from trading in the Company's securities pursuant to the Company's black-out procedures.

The Company intends to satisfy the provision of the alternative information guidelines set out in Sections 9 and 10 of NP-12-203 as long as the Required Filings are outstanding. The Company will continue to comply with the provisions of the alternative information guidelines under NP 12-203 by issuing bi-weekly default status reports in the form of news releases for so long as it remains in default of the filing requirements.

Cautionary Note Regarding Forward-Looking Statements

Certain information contained in this release constitute forward-looking statements or information under Canadian securities legislation. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "will", "expects", "anticipates" or variations of such words and phrases or statements that certain actions, events or results "will" occur. In particular, ‎forward-looking ‎statements in this release include statements regarding: the anticipated timing for the filing of the Annual Filings; and the ability of the Company to comply with the requirements of NP12-203. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are subject to known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including that the Annual Filings may not be completed in the time anticipated or allowed for by the MCTO, in which case a general cease trade order may be issued with respect to the Company's securities. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company cautions readers of this news release not to place undue reliance on the forward-looking statements contained in this release as many factors could cause actual results or conditions to differ materially from current expectations. Additional information on these and other risk factors that could affect the Company's operations are outlined in the Company's continuous disclosure documents that can be found on SEDAR+ (www.sedarplus.ca) under the Company's issuer profile. The Company does not intend and disclaims any obligation, except as required by law, to update or revise any forward-looking statements, whether because of new information, future events, or otherwise.

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