Mr. Robert Cudney reports

NORTHFIELD'S FLAGSHIP INVESTMENT JUNO CORP. DISCOVERS HEAVY RARE EARTH MAGNET METALS AT VESPA

Northfield Capital Corp. has commented on the announcement made today by Juno Corp. regarding the discovery of heavy rare-earth element (HREE) mineralization, including the magnet metals neodymium, praseodymium, dysprosium and terbium, within Juno's Vespa critical minerals system in Ontario's Ring of Fire. For the full text of the Juno announcement, including the technical disclosure relating to drill hole VES-26-025 and the associated assay results, please refer to Juno's press release dated May 19, 2026, available at the Juno website.

Northfield holds an approximately 35-per-cent equity interest in Juno, making Juno one of the most significant investments in Northfield's portfolio. The discovery disclosed in the Juno announcement broadens the polymetallic critical minerals profile of Juno's Vespa system, which has previously been reported to host high-grade iron, titanium, vanadium, scandium and gallium mineralization.

Robert D. Cudney, founder, president and chief executive officer of Northfield, commented: "Today's announcement from Juno is a meaningful validation of the investment thesis Northfield has been building around the Ring of Fire. Heavy rare-earth magnet metals are among the most strategically contested commodities in the global supply chain, and the identification of these metals at Vespa -- alongside the high-grade iron, titanium, vanadium, scandium and gallium previously discovered at the Vespa system -- reinforces our view that Juno represents a compelling Canadian critical minerals opportunity. Northfield's approximately 35-per-cent interest in Juno provides our shareholders with direct exposure to this opportunity as it continues to develop."

Summary of the Juno announcement

As disclosed by Juno in the Juno announcement, key elements include:

• Heavy rare-earth element mineralization, including the four key magnet metals -- neodymium, praseodymium, dysprosium and terbium -- as well as yttrium and other critical rare earths, has been identified within Juno's Vespa critical minerals system;
• The discovery is hosted within Juno's Vespa mineral complex, with potential to recover rare earths as a byproduct of Vespa's iron, titanium, vanadium, scandium and gallium production -- supporting Vespa as a polymetallic critical minerals system;
• Additional sampling, assays and metallurgical work are under way as part of Juno's fully financed 2026 Vespa drill program.

Readers are cautioned that the foregoing is a summary only. Please refer to the full text of the Juno announcement and the underlying technical disclosure referenced therein for full details.

Strategic rationale for Northfield's investment in Juno

Northfield has progressively increased its investment in Juno over the past 18 months -- including the April, 2026, closing of share purchase agreements that increased Northfield's ownership of Juno from approximately 23.7 per cent to approximately 34.7 per cent. Northfield's continued investment in Juno reflects management's view that a convergence of factors is creating a compelling, long-term opportunity in Ontario's Ring of Fire:

• Exploration momentum -- Juno's 2026 exploration campaign is a fully financed $20-million, 100-hole drill program across two district-scale discoveries: the Big Thunder gold district, which hosts the high-grade Pluto and North Edge gold discoveries, and the Vespa critical minerals complex, where resource drilling is advancing toward a maiden mineral resource estimate.
• Government infrastructure -- Ontario has committed over $1-billion to Ring of Fire road infrastructure and is advancing a new 230-kilometre Greenstone Transmission Line through a First Nations Equity Partnership Model. These commitments, combined with the December, 2025, Ontario-Canada "One Project, One Process, One Decision" co-operation agreement and the federal Major Projects Office identifying the Ring of Fire among Canada's fast-tracked nation-building projects, have materially shortened the Ring of Fire's expected development timeline.
• Critical minerals alignment -- Ontario's recent addition of high-purity iron and aluminum to its Critical Minerals List, and the government of Canada's 2024 inclusion of high-purity iron on the federal Critical Minerals List, reinforce the strategic importance of Juno's Vespa discovery. The addition of heavy rare-earth magnet metals to the Vespa system disclosed in the Juno announcement further strengthens this alignment, given the strategic role of these metals in defence, aerospace, electric vehicles and clean energy supply chains.

About Northfield Capital Corp.

Northfield is a publicly traded Canadian investment and operating company with deep roots in resources, mining, aviation and premium consumer brands. Founded in 1981 by Robert D. Cudney, the company combines over four decades of experience with forward-thinking strategies to unlock opportunities across its diversified portfolio. Northfield is dedicated to fostering growth and innovation in businesses that drive economic prosperity in Canada and abroad. The company's flagship investment, Juno Corp., is the largest mineral claimholder and the most active explorer in the Ring of Fire. True North Airways, the company's wholly owned aviation subsidiary, provides charter, cargo, and exploration logistics services across Canada and is expanding internationally through CNA Aviation Corp. in Central America.

Qualified person

Scott Zelligan, PGeo (PGO No. 2078), director of exploration for Juno, is considered a qualified person for the purposes of National Instrument 43-101 -- Standards of Disclosure for Mineral Projects and has reviewed and approved the scientific and technical disclosure contained in this news release.

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