Mr. Ken Konkin reports

GOLDSTORM METALS PROVIDES UPDATES ON THE ONGOING PHASE I DRILLING AND RECONNAISSANCE PROGRAM AND COMPLETED GEOPHYSICAL SURVEY AT THE CROWN PROJECT, LOCATED IN THE GOLDEN TRIANGLE OF BRITISH COLUMBIA

Goldstorm Metals Corp. has provided an update on the 2026 exploration program, including the continuing phase I diamond drill program, reconnaissance sampling and recently completed airborne geophysical survey on its 100-per-cent-owned Crown copper-gold-silver property, located in the Golden Triangle region of British Columbia. Crown is situated to the south of Newmont Corp.'s Brucejack mine and Seabridge Gold Inc.'s KSM property, an area host to over 100 million ounces of gold and over 20 billion pounds of copper.

The phase I diamond drilling program of approximately 3,000 metres (m) is focused on testing the Copernicus copper-gold geochemical trend, which coincides with a 1.2-kilometre-long induced polarization (IP) chargeability anomaly.

To date, 2,085 m of drilling has been completed in four drill holes. The initial hole, OR-26-01, drilled from Pad A, was lost after encountering a large void between 77 m and 90 m. The drill crew steepened and recollared the next attempt, to successfully bypass the void and complete Hole OR-26-02 to a depth of 693 m. Drill hole OR-26-03, also drilled from Pad A, in the opposite direction, was successfully completed to a depth of 624 m. The drill then moved to Pad B, located atop the Orion Spine, where the most recent drill hole, OR-26-04, was completed to a depth of 691.5 m after successfully testing the targeted IP chargeability anomaly. The drill is currently on Pad C, the westernmost set-up, drilling OR-26-05. Drill hole OR-26-06 will be drilled westward from Pad C toward a large area of magnetic and conductivity anomalies. Both these holes are planned to depths of between 700 and 800 m.

Samples from the company's first four drill holes have been submitted to the laboratory for analysis. The company will report the results once the analytical data has been received, compiled and interpreted. These phase I drilling results will be used to further evaluate and refine the company's understanding of the mineralized systems and to determine the scope and priority targets for potential follow-up exploration.

Reconnaissance mapping and sampling is also continuing, with the exploration team having collected 317 samples to date from various areas across the Crown property. Assay results for the samples will be reported as they are received, compiled and interpreted by the company.

The company has recently completed a high-resolution airborne magnetic and radiometric survey over the Crown property. The survey was flown from July 15 to July 19, 2026, at a ground clearance of approximately 40 metres, covering a single survey block that provided 2,227 line kilometres of data at 75-metre line spacing, with tie lines spaced at 750 metres. Magnetic data are expected to provide information on the distribution and concentration of magnetic minerals that can help define variations in lithology, structure and alteration. Radiometric measurements of natural gamma-ray emissions can also provide insights into bedrock composition and various types of alteration.

Goldstorm intends to engage an independent third party geophysical consultant to conduct a review and interpretation of the 2026 survey results. The review will assess the significance of the identified geophysical responses and integrate them with the company's existing geological, geochemical and geophysical data. The results of this work are expected to enhance the company's understanding of the property and assist in the definition and prioritization of future exploration targets.

Ken Konkin PGeo, president and chief executive officer, comments: "Our drilling program is progressing very well, on time and on budget. Unfortunately, there have been some delays with the laboratory work due to the current sample backlog, however, we expect to receive the complete set of Photon Gold and ICP values for the first three drill holes shortly. We have added two holes in the Orion Spine area to the phase 1 program, which, excluding the abandoned hole OR-26-01, will give us five holes measuring between 600 and 800 m in depth. These five drill holes will provide an extensive east-west cross-cut section of the entire Orion Spine, allowing our technical team to visualize the potential mineralizing systems that are sources to the base and precious metal mineralization encountered on surface. We have decided to concentrate exploration efforts on intrusive-related, large, bulk-tonnage, Au-Cu-Ag porphyry-style targets, therefore, the less developed zones such as Delta West will remain as the focus of our prospecting and geophysical crews to expand the size of the targets before attempting to test with a drill. Crews have been exploring throughout the Crown claims so far this season and we will report the results from their sampling once we have them in hand."

Qualified person

The qualified person for this news release for the purposes of National Instrument 43-101 is the company's president and chief executive officer, Ken Konkin, PGeo. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.

QA/QC (quality assurance/quality control)

All samples were prepared at MSA Labs' preparation laboratory in Terrace, B.C., and assayed at MSA Labs' geochemical laboratory in Langley, B.C. Gold was assayed using a fire assay with atomic absorption (AA) spectrometry finish. Samples over 10 parts per million gold were fire assayed with gravimetric finish. All samples were analyzed by four-acid digestion with multielement ICP-MS, with silver and base metal overlimits being reanalyzed by emission spectrometry. MSA Laboratories quality system complies with the requirements for the International Standards ISO 17025 and ISO 9001. MSA Labs is independent of the company.

About Goldstorm Metals Corp.

Goldstorm Metals is a precious and base metals exploration company with a large strategic land position in the Golden Triangle of British Columbia, an area that hosts some of the largest and highest-grade gold deposits in the world. Goldstorm's flagship projects, Crown and Electrum, cover an area that totals 16,469 hectares over six concessions, of which five are contiguous. The Crown project is situated directly south of Seabridge Gold's KSM gold-copper deposits and Newmont Corp.'s Brucejack/Valley of the Kings gold mine. Electrum, also located in the Golden Triangle of B.C., is situated directly between Newmont Corp.'s Brucejack mine, approximately 20 kilometres to the north, and the past-producing Silbak Premier mine, 20 kilometres to the south.

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