Mr. Andrew Ing reports

NORTHCLIFF PROGRESSES WITH PRE-CONSTRUCTION PROGRAMS FOR SISSON PROJECT

Northcliff Resources Ltd. has provided an update on progress with the preconstruction phase work on the Sisson project in New Brunswick, Canada.

The Sisson project hosts a large deposit of two critical minerals: tungsten and molybdenum. A feasibility study completed in 2013 proposed development as an open-pit mine with conventional processing and a value-added ammonium paratungstate plant. Environmental impact assessment approvals were received from the provincial and federal governments in 2015 and 2017, respectively, followed by other key approvals.

In 2025, the project received funding under U.S. and Canadian critical mineral initiatives, including a $15-million (U.S.) (approximately $20.7-million (Canadian)) award under the Defense Production Act Title III program and $8.2-million (Canadian) in Canadian support provided through the Global Partnerships Initiative (see May 1, 2025, and Aug. 7, 2025, releases). With this funding in hand, Northcliff embarked on a focused program to advance the Sisson project through the preconstruction phase.

Activities conducted on the company's focused preconstruction program include:

• Update to the 2013 feasibility study and front-end basic engineering work, including site investigation programs and additional metallurgical testwork; the FS update is designed to provide the necessary economic and technical information to support a construction decision for the project;
• Initiated in the second quarter of 2025, the FS update has included comprehensive review and verification of previous work, as well as consideration and assessment of new approaches to optimize the mine development; led by Ausenco Engineering Canada ULC (see June 25, 2025, release), the work has involved a number of consultants and specialists; completion is expected in mid-2026;
• Multiple engineering work streams and studies required to meet the technical conditions associated with Northcliff's in-hand environmental approvals and support detailed project development planning;
• Following receipt of a field permit in October, 2025, a site investigation program was initiated, including geotechnical drilling, test pitting and a geophysical survey to collect information on overburden and bedrock characteristics to support basic and detailed engineering and design work for the tailings storage facility design; this program is expected to be completed by the end of February, 2026;
• Advancement of discussions on project finance and product offtake arrangements.

Over the next quarter, work will continue to advance the FS update, front-end basic engineering and EIA compliance work streams. Planning and permitting are under way for the second phase of fieldwork to begin in the late spring of 2026 involving further geotechnical drilling and test pitting to collect additional data in the open-pit area.

Additionally, an archeological field program is being planned based on the results of previous work completed in 2015. Through engagement with the province's archeology and heritage branch and the Wolastoqey Nation in New Brunswick, a Heritage Resource Protection Protocol is being finalized, setting the terms for training and mitigation activity associated with satisfying EIA conditions. The company is also continuing its outreach with communities to discuss its work programs and to finalize an engagement plan for the potential operation at Sisson.

Discussions with key potential Western offtake purchasers and engagement with potential project funding partners are continuing. In addition, Northcliff is engaged in discussions with U.S. and Canadian import-export credit agencies as part of its project finance work stream. The company is also working with the Canadian Major Projects Office (see release dated Nov. 13, 2025) to explore opportunities for its financial and regulatory assistance based on its referral as a nation building project. Northcliff continues to engage with governmental organizations with the aim of securing financing and product marketing support.

"Advancing projects like the Sisson project is essential to strengthening Canada's critical minerals supply chains -- including for manufacturing and security -- and supporting jobs and economic growth in Atlantic Canada. Through our Majors Projects Office, our new government is helping move strategically important projects from planning to construction while upholding strong environmental standards and meaningful engagement with local and indigenous communities. This is how we ensure we are a reliable, responsible supplier to our allies and industry and grow the strongest economy in the G7 at home," said Tim Hodgson, Minister of Energy and Natural Resources.

The disclosure of scientific and technical information contained in this news release has been reviewed and approved by Tanya Yang, PEng, a qualified person who is not independent of the company.

About Northcliff Resources Ltd.

Northcliff is a mineral resource company focused on advancing the Sisson tungsten-molybdenum project located in New Brunswick, Canada, to production.

We seek Safe Harbor.