Calgary, Alberta--(Newsfile Corp. - June 1, 2026) - TVI Pacific Inc. (TSXV: TVI) (OTC Pink: TVIPF) ("TVI" or the "Corporation") provides its second bi-weekly Default Status Report under National Policy 12-203 Management Cease Trade Orders ("NP 12-203"), pursuant to which TVI issued its original default announcement indicating that the filing of its annual audited financial statements, annual management's discussion and analysis, and related certifications for the year ended December 31, 2025 (the "Required Filings"), would be delayed beyond the filing deadline of April 30, 2026. TVI reports that since its news release dated May 19, 2026 there have been no material changes to the information contained therein that have not been disclosed, nor any failure by TVI to fulfill its intentions as stated therein, other than as set forth below.

As a result of circumstances reasonably linked to the Corporation's delay in filing the Required Filings, in addition to the default to which this Default Status Report relates, the Corporation did not meet the deadline for filing its interim unaudited financial statements, interim management's discussion and analysis, and related certifications for the three-month period ended March 31, 2026 (collectively, the "Interim Filings"). As a result of the Corporation's delay in preparing the Required Filings, the Interim Filings could not be properly completed in accordance with Canadian securities law and regulation. Under the securities laws of the provinces in which TVI is a reporting issuer, the Interim Filings were to be filed by June 1, 2026.

The Alberta Securities Commission has advised the Corporation that its application to extend the management cease trade order granted on May 4, 2026 (the "MCTO") until June 16, 2026 has been approved.

The Corporation's Board of Directors and management confirm that the audit is ongoing and that they are working expeditiously with the Corporation's auditor to meet the Corporation's obligations related to the filing of the Required Filings and the Interim Filings and expect to remedy the default by filing the Required Filings on or before June 8, 2026. The Corporation will file the Interim Filings within five business days of filing of the Required Filings.

Until the Required Filings and Interim Filings have been filed, the Corporation intends to continue to satisfy the provisions of the alternative information guidelines specified in NP 12-203 by issuing bi-weekly Default Status Reports in the form of further press releases for so long as the Corporation remains in default of the financial statement filing requirement. In the event that the Corporation does not file the Required Filings and Interim Filings in a timely manner, the Canadian Securities Regulatory Authorities may impose an issuer cease trade order on the outstanding securities of the Corporation.

About TVI

TVI is a Canadian resource company focused on mining projects in the Philippines. TVI maintains a strong presence in the Philippines through its 30.66% equity interest in TVIRD, a Philippines corporation.

Forward-Looking Statements

Certain statements in this news release are "forward-looking statements", which reflect management's expectations regarding the MCTO, timing of the filing of the Required Filings and Interim Filings and TVI's future business operations. All statements other than statements of historical fact contained in this news release are forward-looking statements. Such forward-looking statements involve risks and uncertainties, as they reflect management's current beliefs and are based on information currently available to management. Actual results may differ materially from those anticipated in the statements made. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The forward-looking statements are made as of the date of this news release and TVI assumes no obligation to update or revise them to reflect new events or circumstances except as expressly required by applicable securities law. Further information regarding the uncertainties and risks can be found in the disclosure documents filed by TVI with the securities regulatory authorities, available at www.sedarplus.ca.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/299695