Mr. Kerem Usenmez reports

VOLTA METALS ANNOUNCES GRANTS OF SECURITY-BASED COMPENSATION

Volta Metals Ltd. made the following grants of security-based compensation to officers, directors and consultants of the company on Sept. 4, 2026.

The company granted 340,000 restricted share units, including 200,000 to officers. Each restricted share unit will vest 50 per cent on the first anniversary of the grant date and 50 per cent on the second anniversary of the grant date, and will entitle the holder to receive one common share.

The company granted 230,000 deferred share units to the directors that vest on the grant date and become redeemable once the director ceases to be an eligible participant upon the director's retirement. Each deferred share unit will entitle the holder to receive one common share.

The company granted 1.85 million options, including 1.55 million to officers and directors. Options shall vest 33 per cent on the date of grant, an additional 33 per cent on the first anniversary of the date of grant and the remaining 34 per cent on the second anniversary of the date of grant. Each vested option is exercisable to acquire one common share at an exercise price of 31.5 cents per common share for a period of five years from the date of grant.

All grants have been made under, and in accordance with the terms and conditions of, the company's long-term equity incentive plan that was approved by the shareholders of the company on June 19, 2024, and remain subject to acceptance by the Canadian Securities Exchange. The equity incentive plan is a rolling 10-per-cent plan and provides for the grant of options, restricted share units and deferred share units. The aggregate number of common shares reserved for issuance pursuant to the equity incentive plan and all other security-based compensation arrangements of the company, at any time, must not exceed 10 per cent of the company's total issued and outstanding common shares. Within that limit, the number of common shares issuable on settlement of restricted share units and deferred share units granted under the equity incentive plan is fixed at two million. The options, restricted share units and deferred share units, and any common shares issued on their exercise or settlement, are subject to a statutory hold period expiring four months and one day from the date of grant.

For additional information regarding the equity incentive plan, please refer to the management information circular of the company dated May 3, 2024, which is accessible on SEDAR+ under the company's issuer profile.

About Volta Metals Ltd.

Volta Metals is a critical mineral exploration company focused on rare earths, gallium, lithium, cesium and tantalum. Volta owns, has optioned and is currently exploring a critical mineral portfolio of rare earth, gallium, lithium, cesium and tantalum projects in Ontario, one of the world's most prolific and emerging hardrock critical mineral districts.

Volta is advancing its 4,879-hectare Springer rare earth element deposit, located on the traditional territory of the Nipissing First Nation in Sturgeon Falls. The Springer rare earth element deposit sits approximately 70 kilometres east of Sudbury, Ont., with direct access on the Trans-Canada Highway and Highway 64. The project benefits from well-developed infrastructure, including paved road access, on-site power lines fed from the Crystal Falls hydroelectric dam, a natural gas pipeline and Canadian National Railway service, all within eight kilometres of the deposit.

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