Mr. Christopher Huggins reports

CULLINAN FILES NI 43-101 TECHNICAL REPORT ON BURNT POND NL VMS PROJECT

Cullinan Metals Corp. has filed an independent National Instrument 43-101 (Standards of Disclosure for Mineral Projects) technical report on the Burnt Pond volcanic massive sulphide project, entitled "NI 43-101 Technical Report on the Burnt Pond Volcanic Massive Sulphide Project in Newfoundland and Labrador," with an effective date of May 29, 2026, on SEDAR+.

The Burnt Pond VMS project is situated within the Tally Pond volcanic belt of central Newfoundland and Labrador, a well-established metallogenic district that hosts multiple VMS deposits, including the Duck Pond and Boundary deposits located along the same regional trend. The Burnt Pond VMS project encompasses favourable felsic volcanic stratigraphy, pervasive hydrothermal alteration and several sulphide-bearing horizons, all of which are indicative of a VMS mineralizing system.

The Burnt Pond VMS project hosts an approximately 500-metre-long-by-150-metre-deep VMS-style base-metal-rich stringer zone with local narrow massive sulphides. Historical drilling intersected a tectonized massive sulphide zone approximately 400 metres along strike to the southwest of the original prospect. This intersection is at the same stratigraphic level as the original prospect, but represents a separate lens of high-grade massive sulphides, richer in grade than the original showing, which is open along strike and downdip.

Mineralization at the Burnt Pond VMS project is characteristic of a classic arc-related VMS system: syngenetic, stratabound and closely associated with intensely altered felsic volcanic rocks, graphitic sediments and cherty tuff horizons. Two stacked mineralized horizons -- the lower rhyolitic stringer zone and the upper graphite massive sulphide horizon -- mirror the architecture of productive VMS camps worldwide. Historical drill intersections include 54.9 metres of sulphide-bearing alteration and grades such as 1.3 per cent copper, 2.0 per cent lead, 7.1 per cent zinc, 22.7 grams per tonne silver and 0.14 g/t gold over 1.5 metres, as further delineated in the technical report.

Derrick Strickland is an independent qualified person as defined by National Instrument 43-101, and has reviewed, verified and approved the scientific and technical information contained in this news release. No limitations or failures to verify were identified. Mr. Strickland is independent of the company.

A copy of the technical report is available on the company's website and under the company's profile on SEDAR+.

About Cullinan Metals Corp.

Cullinan is a Canadian exploration company focused on the evaluation and development of energy and critical metal opportunities. The company holds an option to acquire a 100-per-cent interest in the Oculus rare earth project in central Labrador and the Burnt Pond VMS project in central Newfoundland.

We seek Safe Harbor.