Medford, Wisconsin--(Newsfile Corp. - June 2, 2026) - GreenLight Metals Inc. (TSXV: GRL) (OTCQB: GRLMF) ("GreenLight" or the "Company") is pleased to provide an update on the drilling program at the Bend copper-gold VMS Project in Taylor County, Wisconsin. Assay results from holes B26-008 and B26-010 have been received and confirm the extension of high-grade copper-gold-tellurium mineralization down-dip and along strike from mineralization identified during last year's exploration program. To date, a total of five drillholes (B26-007 through B26-011 - 2,636 meters) have been completed along 3 sections on the Company's leased forty-acre tract of private minerals with the focus of expanding on mineralization encountered during the previous program. All drillholes have encountered significant visual sulfide mineralization expanding the Bend VMS mineralization down-dip and along strike. Assays for the remaining holes, through B26-011, are expected in the coming weeks.

Highlights

• Phase 2 Program On-Going: The planned initial 4,000m portion of the permitted 7,000m Phase 2 drill program is progressing. The program is building on the strong results of Phase 1, further delineating the VMS-style mineralization down-dip and along strike to the east of the main deposit area. Drilling to date confirms mineralization extends eastward along an approximate 45-50° plunge extending mineralization approximately 90m beyond previous drilling completed by GreenLight (B25-006). Significant VMS mineralization encountered within all holes drilled to date remains open at depth and along trend to the east.

• B26-008 and B26-010: Down-plunge and along strike extension of mineralization identified from drilling to date including:

• B26-008:

  • 27.72m of 1.07% Copper, 0.97 g/t Gold, 10.02 g/t Silver, and 160 g/t Tellurium (2.10% CuEq¹) over the reported assay interval from 440.96m.²

    • Including 15.65m of 1.66% Copper, 1.39 g/t Gold, 15.59 g/t Silver, and 216 g/t Tellurium (3.14% CuEq¹) within the main massive to semi-massive sulfide lens from 440.96m.²

• B26-010:

  • 21.06m of 1.32% Copper, 1.07 g/t Gold, 12.64 g/t Silver, and 190 g/t Tellurium (2.46% CuEq¹) over the entire mineralized interval from 419.71m.²

    • Including 4.87m of 2.03% Copper, 0.95 g/t Gold, 24.07 g/t Silver, and 234 g/t Tellurium (3.10% CuEq¹) within the upper massive to semi-massive sulfide lens from 419.71.²

    • And 5.71m of 1.84% Copper, 1.09 g/t Gold, 13.47 g/t Silver, and 215 g/t Tellurium (2.96% CuEq¹) within the lower massive to semi-massive sulfide lens from 435.06.²

• Significant Visual Sulfide Intercepts:

  • B26-008: 52.86m (mineralized interval) consisting of multiple massive to semi-massive sulfide lenses and strongly mineralized interbeds/footwall crystal tuff from 430.6m.

    • Including 15.65m of massive to semi-massive sulfide (main lens) from 440.96m

  • B26-009/009W: ~85m (mineralized interval) - broad zone of intercalated, pyritic semi-massive to massive sulfide lenses within variably mineralized crystal tuff from ~383m.

  • B26-010: 21.06m consisting of massive to semi-massive sulfides interbedded with lesser variably mineralized crystal tuff from 419.71m.

  • B26-011: 41.89m (mineralized interval) - massive to semi-massive sulfides including interbedded and footwall mineralized crystal tuff from 417.35m

    • Including 14.5m of massive to semi-massive sulfide (main lens) from 423.4m

• Downhole geophysical surveys (BHEM) have been completed on B26-008 through B26-011. Processing and interpretation of the collected data is expected to be completed over the next 2 weeks to guide exploration targeting.

• Expanding Known Zone of Mineralization: All 5 completed drillholes drilled during the current exploration program have successfully intercepted significant VMS mineralization, expanding the down-dip extents of the mineralized zone from the previous 2025 drill program and further defining the trend of the deposit's core plunging approximately 45-50 degrees to the east.

Matt Filgate, President & CEO, commented: "Results from B26-008 and B26-010 continue to demonstrate the strength and continuity of the Bend system, returning 27.72 meters of 2.10% CuEq and 21.06 meters of 2.46% CuEq respectively. Every hole drilled in Phase 2 has intersected significant VMS mineralization, and the stacked massive to semi-massive sulfide lenses logged in B26-008, B26-009/009W, and B26-010 confirm the system continues to build down-plunge and along strike to the east. With two rigs turning, assays pending on B26-009/009W and B26-011, and a strengthening copper market, GreenLight is well-positioned to continue advancing the Bend Project through Phase 2."

Phase 2 Drilling Results and Geological Context

The Phase 2 program continues to test the eastern extensions of the known Bend deposit along three sections with the objectives of expanding the extents of the known mineralization at depth and along strike. All drilling is currently being conducted on the Company's leased Soo Line Railroad forty-acre tract. As previously disclosed, Phase 2 drilling will continue to utilize the allocated meterage to pursue thicker mineralization encountered at depth and along trend to expand the mineralized footprint at the Bend Project.

Stratigraphy across the drill area is consistent, with a sequence of rhyolite to dacite flows overlying interlayered fine ash to lapilli tuffs. Immediately overlying the semi-massive to massive sulfide horizon are laminated exhalative cherty tuffs and argillites ("hanging wall sediments"). The mineralized horizon is underlain by a thick quartz-crystal ("quartz-eye") tuff with strong bedding-parallel pyrite mineralization and pervasive chlorite alteration, followed by a fine-grained chlorite-sericite tuff that marks the unmineralized footwall contact.

Figure 1: 2026 Drill Program Plan Map

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Figure 2: Generalized Geologic Cross Section C-C'

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Figure 3: Generalized Geologic Cross Section B-B'

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Figure 4: Generalized Geologic Cross Section A-A'

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Table 1: Summary of Significant Intercepts²

¹Copper Equivalent ("CuEq") is reported to express the aggregate in-situ value of copper, gold and silver as a percentage copper grade. CuEq incorporates assumed metallurgical recoveries and is not a proxy for, nor evidence of, economic value. Tellurium (Te) is reported separately and is not included in CuEq.

CuEq (%) = ((Cu grade (%) / 100 × 0.9 (recovery) × 2204.6 × US$4.50) + (Au grade (g/t) × 0.9 (recovery) / 31.1035 × US$3,600) + (Ag grade (g/t) × 0.9 (recovery) / 31.1035 × US$40)) / (2204.6 × 0.01 × US$4.50).

Assumptions: metal prices of US$4.50/lb Cu, US$3,600/oz Au, US$40/oz Ag; recoveries of 90% for Cu, Au and Ag based on the Company's preliminary assessment of analogous VMS deposits. No allowances have been made for smelting/refining charges, penalties or deleterious elements, or payability factors. No metallurgical test work has been completed at Bend; actual recoveries and payabilities are unknown and may differ materially.

²The composite grades of select intervals are calculated on a length-weighted basis and are reported as drilled thicknesses. True thicknesses of the intervals are estimated to be 75-85% of the drilled thickness.

Hole Details

• B26-008: Designed to test the variability/connectivity in mineralization between two, wide-spaced historic intercepts (B91-11 - 16.65m of 1.07% Cu, 1.04 g/t Au and B92-14 - 16.7m of 0.9% Cu and 1.26 g/t Au). The mineralized horizon was intersected at 440.96m representing an approximate 75m overcut of B92-14 and showing a thickening of the mineralized section.

• B26-009/009W: Designed to undercut the mineralized section encountered in B26-007. Technical issues were encountered within the mineralized zone and the hole could not be advanced beyond 456.6m. A 'wedge' was set at ~300m (B26-009W) and the hole was completed to a depth of 520.6m. Mineralization encountered represents an approximate 80m undercut of B26-007.

• B26-010: Designed to test variability/connectivity of mineralization between B26-008 and the wide-spaced historic intercepts (B91-11 - 16.65m of 1.07% Cu, 1.04 g/t Au; B92-14 - 16.7m of 0.9% Cu, 1.26 g/t Au). Mineralization was intersected at 419.71m, representing an approximate 45m overcut of B26-008 and an approximate 50m undercut of B91-11.

• B26-011: Designed to undercut hole B25-006 (23.98m of 1.19% Copper and 1.6 g/t Gold). Mineralization encountered represents an approximate 75m undercut of B25-006.

Next Steps

• Pending Assays: Results for B26-009/009W and B26-011 are expected over the course of the next 3-6 weeks.

• Drilling Ongoing: Continued drilling utilizing two diamond core drill rigs to continue exploration efforts on the Soo Line Mineral tract extending mineralization down dip and testing the projected 45°-50° east trending down-plunge extension

Table 2: Drill Collar Information

Coordinates in NAD83 UTM Zone 15N

Final survey data pending

About the Bend Project

The Bend VMS Project represents an advanced exploration opportunity. To date, over US$8 million has been invested in the project, including 64 diamond drill holes totaling 26,485 meters. Prior drilling highlights from GreenLight Metals' 2025 drilling included drillhole B25-004 which intercepted 34.25 meters averaging 1.35% Cu, 2.22 g/t Au, 15.62 g/t Ag, and 193.22 g/t Te.

Sample Preparation and QA/QC

Samples from the 2026 Bend drill program followed strict chain of custody from collection, through processing and delivery to ALS Global's ("ALS") laboratory in Twin Falls, Idaho. The drill core was delivered directly from the drill area to GreenLight's core facility in Medford, WI. The drill core was inspected and sampled by GreenLight's geologists who insert Certified Reference Materials ("CRMS") and Blank material into the sampling stream and make up 10% of the total samples submitted to ALS. The drill core at the Bend project is drilled in NQ size (47.6mm) and is bifurcated by an electric masonry saw and placed in sentry sample bags sealed with zip-ties. Samples are shipped by ground directly to ALS via certified cartridge courier in rice bags secured on pallets. Samples are prepared using the ALS method PREP-31y which includes drying (if necessary) in an oven at a maximum temperature of 60°C, fine crushed of the sample to at least 70% passing less than 2mm and rotary split continuously through crushing via a Boyd RSD crusher-splitter. A 250g split sub-samples is then pulverized to 85% passing 75µm. Gold is analyzed by fire assay and inductively coupled plasma mass spectrometer (ICP-MS) of a 25g aliquot sample. (ALS Method Au-ICP21), while multi-element chemistry is analyzed by four acid digestion of a 0.25g pulverized sample split with detection by inductively coupled plasma mass spectrometer (ICP-MS) for 48 elements (Ag, Al, As, Ba, Be, Bi, Ca, Cd. Ce. Co, Cr, Cs, Cu, Fe, Ga, Ge, Hf, In, K, La, Li, Mg, Mn, Mo, Na, Nb, Ni, P, Pb, Rb, Re, S, Sb, Sc, Se, Sn, Sr, Ta, Te, Th, Ti, Tl, U, V, W,Y, Zn, Zr)(ALS method core ME-MS61). Gold assay method Au-ICP21 has an upper detection limit of 10ppm. Any sample that produced an over-limit gold value from ICP-MS is then sent for a gravimetric finish analysis. Samples that return copper assays greater than 1% Cu, the upper detection limit for ME-MS61 is sent for an "ore grade" analysis, in this case ALS method code Cu-OG46, which is a 0.4g aliquot pulverized sample with an ICP finish and an upper detection limit of 50% Cu.

Qualified Person Statement

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in NI 43-101 and reviewed and approved by Thomas Quigley, MSc, CPG-11962, Exploration Director of the Company, a Qualified Person as defined by NI 43-101.

About GreenLight Metals Inc.

GreenLight is a Wisconsin-focused exploration company advancing copper-gold and gold projects across the Penokean Volcanic Belt-one of North America's most prospective VMS districts-and the Kalium Canyon epithermal gold project in Nevada's Walker Lane, which is subject to a binding term sheet for a proposed staged earn-in and joint venture with Barrick. In Wisconsin, GreenLight's portfolio includes the Bend copper-gold deposit, the Reef high-grade gold project, and the Lobo and Lobo East massive sulfide targets. Guided by a team with deep roots in the state, GreenLight is building a modern minerals company for Wisconsin, by Wisconsin-committed to responsible exploration, transparent engagement, and creating durable local opportunities as it helps supply the critical metals that power the energy transition.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws, including statements regarding: the timing for receipt and reporting of assay results; the interpretation of visual core observations; the potential significance of the mineralized intervals; the planning, timing, scope and objectives of future work programs; the potential for tellurium to add value to the project; the Company's ability to obtain and maintain required permits and approvals; and the advancement and potential of the Bend Project and the Penokean Volcanic Belt. Forward-looking information is based on reasonable assumptions that management believes are appropriate, including assumptions regarding lab turnaround times, the Company's ability to execute planned programs in a safe and timely manner, availability of equipment and personnel, access to properties, approval timelines, financing availability, and prevailing commodity prices and market conditions.

Forward-looking information is inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied, including, without limitation: that visual estimates do not correlate with assay results; that assay results are delayed or do not meet expectations; inaccuracies in geological models; changes in project parameters as plans continue to be refined; cost escalations; availability of drill rigs, qualified contractors and supplies; adverse weather or wildfire; operational, health, safety and environmental risks; title, access and permitting risks (including delays or denials of federal, state or local approvals); stakeholder, community or Indigenous engagement risks; regulatory changes; and fluctuations in commodity prices and currency exchange rates. Additional risks are described under the Company's continuous disclosure filings available on SEDAR+.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned not to place undue reliance on forward-looking information. The forward-looking information in this news release is provided as of the date hereof, and the Company does not undertake any obligation to update such information except as required by applicable law.

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