Mr. Reagan Glazier reports

NEOTECH METALS SIGNS AGREEMENT TO ACQUIRE THE TORRANCE PROJECT FROM KENORLAND MINERALS

Neotech Metals Corp. has entered into an agreement with Kenorland Minerals Ltd. to acquire a 100-per-cent interest in the Torrance project, located approximately 70 kilometres from the company's flagship Hecla-Kilmer (H/K) project in Ontario, Canada.

Torrance project highlights

The Torrance project is located in Northern Ontario and benefits from excellent infrastructure, including year-round road access and proximity to established power networks. Existing forestry roads and previously disturbed areas are expected to support cost-effective exploration activities with minimal environmental impact.

The project comprises 580 mining claims covering approximately 12,270 hectares and is prospective for alkaline carbonatite-hosted niobium/tantalum/rare earth element mineralization. The property exhibits distinct ring-shaped magnetic features comparable with known alkaline-carbonatite complexes along the Kapuskasing structural zone (KSZ), including the Lackner Lake, Nemegosenda Lake and Hecla-Kilmer complexes.

Located approximately 125 kilometres north of Timmins, the project is situated within a favourable mining jurisdiction with established infrastructure and access.

Since staking the project in 2022, Kenorland has completed reprocessing of regional geophysical data sets, a 2,865 line-kilometre high-resolution aeromagnetic gradiometry and VLF-EM (very-low-frequency/electromagnetic) survey, and limited mapping and prospecting. These programs have identified multiple prospective targets for follow-up exploration.

The Torrance project represents a compelling early-stage opportunity for the discovery of a carbonatite-hosted rare earth system within a geologically prospective corridor.

"The acquisition of the Torrance project further reinforces our commitment to advancing Hecla-Kilmer as part of a broader, district-scale opportunity within the Kapuskasing structural zone. The proximity and geological similarities between Torrance and H/K strengthen our confidence that we are operating within a highly prospective corridor for carbonatite-hosted rare earth and critical mineral systems," said Reagan Glazier, chief executive officer. "As we continue to build on this land position, our focus remains on disciplined exploration and responsible development, with a strong emphasis on environmental stewardship and meaningful engagement with local and regional stakeholders. We believe this strategic expansion positions Neotech to play a role in supporting future domestic supply of critical minerals."

Transaction terms

As consideration for the project, Neotech will issue one million shares to Kenorland. The shares will be subject to a contractual lock-up for a period of 24 months following closing, during which time Kenorland has agreed not to sell, transfer or otherwise dispose of the shares, subject to customary exceptions, including transfers to affiliates and in connection with a change of control of Neotech.

Pursuant to the purchase agreement, Neotech has also committed to complete a minimum of 2,000 metres of diamond drilling on the project on or before the third anniversary of closing, subject to customary force majeure provisions. If Neotech does not satisfy the drilling commitment by such date, Kenorland has the right to require Neotech to assign its interest in the project back to Kenorland for nominal consideration, with the project in good standing.

The project remains subject to the existing 2.0-per-cent net smelter return royalty held by Kenorland Royalties Ltd., a wholly owned subsidiary of Kenorland. Neotech may buy back 1 per cent of the net smelter returns royalty for $5-million. Closing of the transaction remains subject to customary conditions, including receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange and, if required, Canadian Securities Exchange.

Exploration season 2026

A target definition and subsequent drill campaign is expected for 2026, subject to permitting and financing. Neotech will disclose any additional plans for the project, including updated research from any data consolidations.

About the Neotech Metals

Neotech Metals is a mineral exploration company dedicated to discovering and developing valuable mineral resources within promising jurisdictions around the world. With a strong commitment to environmental stewardship and sustainable practices, Neotech is positioned to make a positive impact while maximizing the potential of its exploration properties.

The company has a diversified portfolio of rare earth element and rare metals projects, including the Hecla-Kilmer, located 20 kilometres from the Otter Rapids 180-megawatt hydroelectric power generation station and active Ontario Northway railway, along with its TREO and Foothills projects located in British Columbia. All three projects are 100 per cent wholly owned.

Qualified person

Technical information for this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101. Jared Galenzoski, PGeo, vice-president, exploration, and qualified person, has reviewed and approved all of the data and statements made for this news release.

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