Mr. Derrick Dao reports

NUCLEAR VISION TO ACQUIRE MANGANESE CARBONATE PROJECTS IN SLOVAKIA'S "BATTERY BELT"

Nuclear Vision Ltd. has entered into a definitive agreement to acquire a 100-per-cent interest in two manganese carbonate projects, Svabovce and Michalova, located in the heart of Slovakia's emerging Battery Belt.

The acquisition positions the company as an early mover in the European Union's quest for domestic mineral sovereignty. The projects are strategically located within 300 kilometres of major automotive and battery manufacturing hubs, including the Gotion-InoBat gigafactory in Surany and Volvo's coming EV (electric vehicle) facility in Kosice.

Highlights:

• The carbonate advantage: Nuclear Vision is acquiring strategically positioned manganese carbonate (MnCO3) deposits in Slovakia. Unlike typical oxide deposits, the projects host manganese in carbonate form. This can enable direct acid leaching, bypassing the energy-intensive and carbon-heavy reduction roasting required for oxide ores.
• Scale:
  • Michalova has a historical resource of 10.4 million tonnes at 9.49 per cent Mn.
  • Svabovce has a historical resource of 13.9 million tonnes at 14.47 per cent Mn, one of the largest manganese deposits in the European Union.
  • Note: A qualified person has not done sufficient work to classify the historical estimates as current mineral resources or mineral reserves and the company is not treating the historical estimates as current mineral resources or mineral reserves.
• Infrastructure ready: The projects benefit from immediate proximity to established rail, power and road networks, derisking the development timeline.
• Offtake proximity: The projects are strategically located near prominent battery and vehicle manufactures and gigafactories, making them well positioned to benefit from the growing demand for battery-grade materials.
• Critical timing: The acquisition coincides with the EU's Critical Raw Materials Act (CRMA) mandates and Germany's recent three-billion-euro EV stimulus package, which favours the high-manganese, low-cost battery chemistries (lithium-manganese-ferro-phosphate) that these assets are ideally suited to supply.
• Development road map: The company intends to advance verification work, including confirmation programs, with the objective of completing a National Instrument 43-101-compliant mineral resource estimate, if warranted.

Nuclear Vision's core focus is the development of critical mineral deposits that are integral to the energy transition industry, leveraging strategically located assets and helping advance projects toward commercialization. Adding the projects to a robust land position of uranium projects in Botswana further diversifies the company's commitment to creating a well-rounded energy transition project portfolio. Through methodical derisking, Nuclear Vision aims to attract high-quality capital partners and become a key participant in the critical mineral supply chain.

"These two projects improve our growth potential and allow us to expand our exposure to energy-critical minerals beyond our uranium assets," said Derrick Dao, chief executive officer of Nuclear Vision. "Manganese presents a meaningful opportunity for Nuclear Vision while supporting the continent's industrial resilience."

Details of the acquisition

The company entered into an assignment of option agreement and consent to assignment, dated Jan. 21, 2026, with Private Equity Pty. and Kluane Capital FZCO (together, the Assignor), both of which are arm's-length parties to the company, whereby the assignor has agreed to assign to the company all of its rights, title and interest in an existing option to purchase agreement dated Jan. 14, 2026, with VMS Exploration SRO (the assignment). Under the option agreement, the assignor held an option to acquire a 100-per-cent interest in the mineral titles comprising the projects held by VMS. The company has agreed to assume the obligations of the assignor under the option agreement.

Pursuant to the terms of the Assignment agreement and subject to receipt of all necessary regulatory approvals and the satisfaction of customary closing conditions, the company will provide the following consideration to the assignor and VMS:

• A 100,000-euro cash payment;
• 10 million common shares of the company, to be issued pursuant to an exemption from prospectus requirements of applicable securities laws.

The number of Nuclear shares issuable will be adjusted for any capital reorganization to preserve the assignor's proportionate entitlement.

Further, the assignor and assignee have provided customary representations and warranties, including, but not limited to, authority, enforceability and absence of conflicting obligations.

The Nuclear shares are not registered under the U.S. Securities Act of 1933, as amended, or the securities laws of any state of the United States. The Nuclear shares will be subject to a statutory hold period expiring four months and one day after the date of issuance, as set out in NI 45-102, Resale of Securities.

Concurrent financing

In connection with the acquisition, the company is pleased to announce a non-brokered private placement of 20 million units at a price of 25 cents per unit for gross proceeds of $5-million.

Each unit will consist of one common share of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder to purchase one additional share at a tiered exercise price for a period of 24 months from the date of issuance as follows:

• 37.5 cents per share if exercised within the first 12 months following the closing date;
• 50 cents per share if exercised after 12 months but on or before 24 months following the closing date.

The company intends to use the net proceeds from the offering to finance the advancement of the Svabovce and Michalova manganese projects in Slovakia and for general working capital purposes.

All securities to be issued pursuant to the offering will be subject to a statutory four-month-and-one-day hold period. Finders' fees may be payable in connection with the offering, all in accordance with the policies of the Canadian Securities Exchange.

Europe's critical mineral challenge

Europe has been grappling with a historical underinvestment in its mining sector, leading to virtually no domestic production of certain minerals. This has resulted in an economic model heavily reliant on imports, primarily from China, which currently supplies over 90 per cent of high-purity manganese (HPM). The transition to greener, local supplies is now emerging as a priority mandated by the European Union with the recent European Critical Minerals Act and ESG-style (environmental, social and corporate governance) investment groups.

Additionally, the evolving battery composition necessitates a higher manganese content, particularly with lithium-manganese-ferro-phosphate (LMFP) batteries emerging as a potential dominant product.

The company anticipates that the projects will offer strategically located, drill-ready targets with the potential to provide manufacturers with local European Union products, reducing the dependency on overseas sources.

Advancing the energy transition: introduction to Nuclear Vision's European manganese projects

Nuclear Vision is excited to announce its focus on several critical manganese projects within the European Union, in line with the company's vision of contributing to the global energy transition. These projects are of particular importance, given the important role of manganese in the manufacture of batteries and in reducing Europe's dependence on imported high-purity manganese.

Production of high-purity manganese:

• Manganese ore occurs mostly as a carbonate or oxide (5 per cent to more than 50 per cent).
• Typically, the carbonate ore will be less rich in grade (closer to the range of 5 per cent to 10 per cent).
• Manganese ore is produced in nearly 20 countries, but processing this ore into high-purity manganese is monopolized by China (92 per cent of global capacity):
  • Based on demand and lack of processing capacity, there is likely to be a deficit of high-purity manganese metal and high-purity manganese sulphate.
• Carbonate ores are comparatively rare and are easily leachable with sulphuric acid, providing a processing advantage:
  • Carbonate ores are mostly used in EMM (electrolytic manganese metal), EMD (electrolytic manganese dioxide) and MnSO4 (manganese sulphate) due to this characteristic compared with oxide ores, which are more commonly used in the steel industry.
• China has developed technologies for batteries to replace 40 per cent to 60 per cent of the iron in lithium ore phosphate batteries with manganese to produce lithium ore manganese phosphate.
• The important difference for battery manufacturers is not in the percentage of manganese grade but in the various impurities.

Subject to closing the acquisition, a brief overview of Nuclear Vision's manganese carbonate projects in Slovakia is provided below.

Michalova manganese project

The Michalova manganese deposit is a carbonate-hosted, shallow flat-bed deposit, with historical exploration drilling. Located 50 kilometres southeast of the city of Brezno, the project is contained within a granted 14.34-square-kilometre tenement. While the previous works are undergoing verification works to report in line with the NI 43-101 standards, there is a historical resource estimate of 10.4 million tonnes at 9.49 per cent manganese classified by the Slovak State Geological Body. Importantly, this project has already seen historic small-scale mining and some initial metallurgical operations, providing valuable initial insights for the company's team.

Whilst the current deposits are constrained from surface to approximately 30 metres depth, two historical holes drilled in 1954 have indicated the presence of multiple separate manganese carbonate beds throughout depths ranging from approximately 30 to 70 metres in MS-1 and again from approximately 40 metres to approximately 200 metres as manganese carbonate interbeds with manganese bed horizons at approximately 75 and 170 metres in M-171, as shown in Table 1. With these intercepts requiring further drill test, this highlights the exceptional exploration potential across the property.

The Michalova manganese project aligns with Nuclear Vision's objective to develop critical mineral deposits that play an important role in the global energy transition. The project is anticipated to provide a local, EU product that assists in reducing the European battery manufacturers' reliance on high-purity manganese imports, thereby offering a greener, more sustainable supply chain.

Svabovce manganese project

The Svabovce project comprises a 47.24 square kilometres granted exploration licence with a four-year term. Notably, this location boasts a historical resource estimated at 13.9 million tonnes at 14.47 per cent manganese. The deposit was open cut mined from the 1850s until 1907, with underground mining operations continuing until 1971, with historical drilling currently being verified.

The local geology is characterized by an outcropping slightly dipping manganese mineralization seam situated between underlying carbonates and overlying siltstones. This sediment-hosted manganese carbonate deposit extends to 250 metres depth, offering exploration potential.

The project also holds historical significance, having contributed to the Soviet planned industry, particularly between the 1950s and 1970s. It features approximately 35 kilometres of underground workings, providing valuable infrastructure for future mining operations.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Lorne Warner, PGeo, director of Nuclear Vision, who is a qualified person as defined by NI 43-101, Standards of Disclosure for Mineral Projects.

The historical assay results referenced herein are derived from prior work completed by previous operators. The company has not independently verified these historical results, and they should not be relied upon until verified by Nuclear Vision through future exploration programs.

Portfolio diversification

The addition of the Slovak manganese assets complements Nuclear Vision's existing portfolio of uranium projects in Botswana and reinforces the company's strategy of building a diversified energy transition metals platform focused on:

• Secure jurisdictions;
• Infrastructure-ready assets;
• Clear pathways to commercialization.

Through disciplined project advancement and systematic derisking, Nuclear Vision aims to attract strategic partners and become a meaningful participant in the global critical minerals supply chain.

About Nuclear Vision Ltd.

Nuclear Vision is an energy-transition-focused exploration and development company advancing a diversified portfolio of uranium and critical mineral assets in stable, mining-friendly jurisdictions. The company's strategy is to identify underdeveloped assets with strong fundamentals, advance them through disciplined technical programs and create long-term value through responsible development.

We seek Safe Harbor.