Mr. Braam Jonker reports

COTEC HOLDINGS CORP. INVESTMENT MAGIRON ANNOUNCES POSITIVE PIG IRON OPTIONALITY

MagIron LLC, a United States based company in which Cotec Holdings Corp. owns an approximately 17 per cent fully diluted equity interest, has completed a positive pig iron concept and economic study for its Minnesota-based iron ore resources and iron ore concentrator and Indiana-based pelletizing facilities.

The study was completed by Primetals Technologies, a recognized global leader in metallurgical plant solutions and iron and steelmaking technologies, evaluating the development of large-scale granulated pig iron production to be integrated with MagIron's existing facilities.

The study confirms three technically credible pathways to the production of approximately two million tonnes per annum of granulated pig iron at the MagIron facilities and supports MagIron's strategy to establish itself as a key supplier of high-quality iron units into the United States.

The study indicates that MagIron is uniquely positioned to supply both DR-grade iron ore pellets and merchant pig iron to the United States steel industry. MagIron states that it intends to, subject to more detailed technical and feasibility studies, advance the development of domestic pig iron production while retaining the flexibility to produce and sell DR-grade pellets, allowing MagIron greater flexibility to respond to customer requirements and market conditions while using the same underlying resource base and existing processing and pelletizing infrastructure.

The indicative economics from the study are compelling and MagIron would be able to leverage off its existing infrastructure with an aggregate replacement value of approximately $1.3-billion (U.S.).

Cotec chief executive officer and MagIron executive chairman Julian Treger stated: "The positive result from the study is an important milestone for MagIron. It highlights a number of advantages that we believe would be extremely difficult to replicate by other potential market participants: a very large domestic iron ore resource, substantial existing processing and pelletizing infrastructure, access to established logistics and the ability to produce high-quality, low-phosphorus iron units. At an initial production level of approximately two million tonnes per annum, MagIron believes it could meet up to half of current U.S. merchant pig iron requirements. Over time, MagIron's resource base could provide the optionality to expand even further. If confirmed by further technical and feasibility studies, MagIron could be uniquely positioned to supply both DR-grade pellets and pig iron, providing significant flexibility to respond to both customer demand and market changes."

About Cotec Holdings Corp.

Cotec Holdings is redefining the future of resource extraction and recycling. Focused on rare-earth magnets and strategic materials, Cotec integrates breakthrough technologies with strategic assets to unlock secure, sustainable and low-cost supply chains for the United States and its allies.

Cotec's mission is clear: accelerate the energy transition while strengthening U.S. economic and national security. By investing in and deploying disruptive technologies, the company delivers capital-efficient, scalable solutions that transform marginal assets, tailings, waste streams and recycled products into high-value critical minerals.

From its HyProMag USA magnet recycling joint venture in Texas, to iron tailings reprocessing in Quebec, to next-generation copper and iron solutions backed by global majors, Cotec is building a diversified portfolio with long-term growth, rapid cash flow potential and high barriers to entry. The result is a differentiated platform at the intersection of technology, sustainability and strategic materials.

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