Mr. Michael Tucker reports

PERSEVERANCE METALS INCREASES ITS LAND HOLDINGS ON THE VOYAGEUR NI-CU-PGE PROJECT, MICHIGAN BY AN ADDITIONAL 13,000 ACRES

Perseverance Metals Inc. has entered into two additional agreements with Keweenaw Land Association Ltd. (see Perseverance news release dated Dec. 18 2025, for prior transaction), an arm's-length party, to lease an aggregate of 12,673.5 acres (51.3 square kilometres) of prospective mineral titles (the Keweenaw leases) in the Upper Peninsula of Michigan, United States. These additional Keweenaw Leases significantly expand and infill the company's highest-priority exploration holdings in the region.

Additionally, the company has entered into an option agreement with two arm's-length parties pursuant to which the company has the sole and exclusive option to acquire 320 acres of mineral rights on the Voyageur project, strategically increasing the company's holdings in the region.

With the addition of the Keweenaw leases and the mineral rights option agreement detailed above, the company has now increased the size of its Voyageur land position to approximately 187,083 acres (757 square kilometres) -- an 11-per-cent increase over the original 168,003-acre Voyageur property optioned by the company in July, 2023.

"We aim to be aggressive in our exploration of Voyageur in the coming months, and this further land consolidation increases our strategic foothold in the area of key exploration targets," said Michael J. Tucker, chief executive officer. "Osprey was an excellent confirmation of our exploration strategy, and securing this additional land brings us closer to finding additional mineralized intrusions in this fertile area."

Drilling and borehole EM surveys continue on the Osprey intrusion, and the company expects to provide a detailed update on progress in the coming days.

About Perseverance Metals Inc.

Perseverance Metals is a critical minerals explorer with a project portfolio that is strategically located in key North American Ni-Cu-Co-PGE (nickel-copper-cobalt-platinum group element) and hard rock lithium regions, including Michigan's Mid-Continent Rift and Quebec's prolific James Bay district.

The company's strict science-driven approach and extensive record of discovery as leveraged via an exceptional technical advisory board, coupled with an industry-leading team armed with next-generation exploration tools, provide the company with a distinct competitive advantage. This offers a unique opportunity for investors to be exposed to a portfolio of projects with the potential for multiple discoveries.

Perseverance's exploration assets include:

1. The Voyageur Ni-Cu-Co-PGE project, which covers over 750 square kilometres (over 185,000 acres) of the Upper Peninsula of Michigan, 65 kilometres west of the Eagle mine -- the only producing nickel mine in the United States. The company's inaugural drill program on the Voyageur project is currently under way, continuing to expand on the recent Osprey Ni-Cu bearing mafic-ultramafic intrusion discovery (see Perseverance dated Sept. 9, 2026).
2. The Lac Gayot high-grade Ni-Cu-Co-PGE and lithium pegmatite project, which covers the entirety of the 30 km long Venus greenstone belt in Quebec, featuring multiple, very high-grade Ni-Cu-Co-PGE showings and zones and numerous spodumene-bearing pegmatites.
3. The Armit Lake Ni-Cu-Co project, which is the consolidated and underexplored western half of the nickel- and gold-rich Savant Lake greenstone belt in Ontario.

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