Mr. Clayton Fisher reports

IDEX METALS CONFIRMS TUNGSTEN ENRICHMENT IN ALL SIX 2025 KISMET DRILL HOLES

Idex Metals Corp. has released the tungsten reassay results for the remaining four drill holes from the 2025 phase I campaign at the Kismet target on the company's Freeze property in western Idaho, U.S. The results complete the sodium peroxide fusion (SPF) reassay program announced on July 9, 2026, in which holes KSMT25002 and KSMT25005 returned 180.5 metres of 0.11 per cent WO3 and 72.2 metres of 0.13 per cent WO3, respectively.

Highlights:

• Tungsten mineralization is present in all six 2025 Kismet drill holes, confirming that tungsten enrichment is a property of the Kismet system as a whole rather than a feature of the two initial test holes.
• KSMT25001 returned 28.0 metres of 0.20 per cent WO3 from 220.0 metres, with 25.0 metres of 0.22 per cent WO, and a separate 2.0 metres of 1.25 per cent WO3 from 264.0 metres that contains the highest-grade tungsten sample returned at Kismet to date: 1.0 metre of 2.13 per cent WO3 (16,900 parts per million (ppm) tungsten (W)).
• KSMT25004 returned multiple zones of tungsten mineralization from surface to 333.25 metres, including 11.9 metres of 0.18 per cent WO from 1.37 metres, 10.88 metres of 0.17 per cent WO3 from 32.61 metres and 29.61 metres of 0.09 per cent WO3 from 301.05 metres.
• Results for KSMT25002 and KSMT25005 are unchanged from those reported on July 9, 2026, and are included in table 1 for completeness: 180.5 metres of 0.11 per cent WO3 from 52.0 metres in KSMT25002, including 17.05 metres of 0.22 per cent WO3 and 11.29 metres of 0.32 per cent WO3, and 72.2 metres of 0.13 per cent WO3 from 182.6 metres in KSMT25005, including 3.33 metres of 0.71 per cent WO3 and 1.21 metres of 1.55 per cent WO3. KSMT25005 also returned 47.69 metres of 0.12 per cent WO3 from 130.92 metres and 6.31 metres of 0.36 per cent WO3 from 61.97 metres.
• The full comparison across 1,069 matched samples confirms that the original four-acid digestion materially understated tungsten in the higher-grade material in every hole. For instance, in KSMT25004, the peak SPF value of 6,420 ppm W corresponds with a four-acid value of only 722 ppm W.
• Two thousand twenty-six drilling has defined more than 800 metres of strike, extending the Kismet corridor both laterally and across Hornet Creek. A full exploration update along with first assay results from the 2026 drilling program will be released in the coming weeks.

"The first two reassayed holes told us tungsten was real at Kismet. These four holes tell us it is everywhere we have drilled," said Clayton Fisher, chief executive officer of Idex Metals. "KSMT25001 has now returned the highest tungsten grade on the property, KSMT25004 carries tungsten from surface to more than 300 metres depth and even the holes that sit on the margins of the system returned tungsten-bearing intervals. Kismet is a copper-molybdenum-tungsten system and we are now building our 2026 targeting around that understanding."

Completion of the sodium peroxide fusion reassay program

As described in the company's July 9, 2026, news release, the four-acid digestion used for the 2025 assays only partially dissolves scheelite (CaWO4) and understates tungsten grades when scheelite is present in the core. Following the initial results from KSMT25002 and KSMT25005, the company submitted the remaining four 2025 Kismet holes (KSMT25001, KSMT25003, KSMT25004 and KSMT25006) for SPF reassay. In total, 1,069 samples across the six holes have now been analyzed by both methods.

The behaviour observed in the first two holes is repeated in the remaining four. Four-acid and SPF results are broadly comparable at low to moderate grades, but the four-acid method recovered a small and unpredictable fraction of the tungsten in the strongest samples. The largest discrepancies in the new holes were in KSMT25004 (SPF 6,420 ppm W versus four-acid 722 ppm W) and KSMT25003 (SPF 4,750 ppm W versus four-acid 1,020 ppm W). The highest-grade sample in the program, 16,900 ppm W in KSMT25001, was reported at 8,230 ppm W by four-acid digestion.

Why the completed reassay program matters:

1. Tungsten is present throughout the drilled portion of the Kismet system. Every 2025 hole, including the peripheral holes KSMT25003 and KSMT25006, returned tungsten above 0.05 per cent WO3 and four of the six holes returned intervals of more than 25 metres.
2. High-grade tungsten is not confined to a single zone. Samples above 1 per cent WO3 now occur in four separate positions in three holes (KSMT25001, KSMT25002 and KSMT25005) and samples above 0.5 per cent WO3 in five holes.
3. KSMT25004 demonstrates vertical continuity. Tungsten-bearing intervals occur from the top of the hole to 331 metres depth, spanning the copper-dominant upper portion and the molybdenum-dominant lower portion of the system.
4. Tungsten grades in KSMT25002 and KSMT25005 suggest that enrichment may increase toward the north-northeast of the Kismet system. This trend will be tested in the 2026 program.

Kismet system and the Kismet corridor exploration model

The Kismet target is interpreted as an intrusion-centred magmatic-hydrothermal system within the Idaho copper belt. With SPF reassays now complete for all 2025 holes, the downhole metal zonation described in July is confirmed across the drilled area: Copper is most strongly developed through the upper portions of the mineralized interval, molybdenum strengthens at depth, and tungsten is distributed across the system, bridging these domains, and is locally concentrated in breccia zones carrying coarse scheelite. The company continues to view Kismet as a polymetallic magmatic-hydrothermal system in which tungsten is a fundamental component rather than a byproduct.

Near-term catalysts:

• Initial assay results from the first five holes of the 2026 drill program are expected in the coming weeks;
• Results from the 2026 mapping, rock sampling and soil sampling programs are expected shortly thereafter;
• Continued drilling across priority targets, including North Breccia, Target A and Kismet.

QA/QC (quality assurance/quality control)

The reassay program was completed on previously sampled 2025 drill core pulps from the Kismet target area. Samples retained by AGAT from the previous program were resubmitted to AGAT Laboratories in Calgary, Alta., for tungsten analysis using sodium peroxide fusion with an ICP-OES (inductively coupled plasma optical emission spectroscopy) finish (AGAT method 201-079). Reported tungsten, copper and molybdenum intervals are length-weighted average grades calculated over the sampled interval using only SPF values; individual SPF results returned below the lower analytical detection limit of the method (50 ppm W; 10 ppm molybdenum (Mo)) were assigned a value of zero for the purpose of calculating length-weighted average grades, and no four-acid values were substituted. The company considers this to be a conservative approach. Reported silver values were calculated from the previous four-acid analysis, as they were not reported in the SPF method used by the company here. The 2026 core will be analyzed by an alternative SPF method that will provide silver values that will be used in future calculations. WO3 was calculated by multiplying the tungsten ppm value by 1.261. Intervals in table 1 for KSMT25001, KSMT25003, KSMT25004 and KSMT25006 were composited at a cut-off of 0.05 per cent WO3 with a maximum of six metres of continuous internal dilution and with the first and last samples of each interval above cut-off; including intervals were composited at a cut-off of 0.10 per cent WO3 with a maximum of three metres of internal dilution. Intervals for KSMT25002 and KSMT25005 are reproduced without change from the company's July 9, 2026, news release. The upper limit of detection of the method for tungsten is 50,000 ppm (5 per cent). A potential nugget effect continues to be evaluated. The company's QA/QC program includes the insertion of certified reference materials, blanks and duplicates, as appropriate.

Qualified person

The scientific and technical information in this news release has been reviewed and approved for disclosure by David Hladky, PGeo (registered in Alberta), vice-president of exploration of Idex Metals. Mr. Hladky is a qualified person for Idex Metals within the meaning of National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Idex Metals Corp.

Idex Metals is a mineral exploration company focused on advancing a portfolio of base and precious metal projects in Idaho. Idex is primarily focused on the exploration and development of the Freeze copper-gold porphyry prospect, located in the newly discovered Idaho copper belt, Washington county, Idaho. With a strategic land position in a great mining jurisdiction and surrounded by major industry players, Idex is committed to redefining district-scale exploration in Idaho.

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