Mr. Alan Macdonald reports

VENERABLE VENTURES ANNOUNCES UPDATED NI43-101 MINERAL RESOURCE ESTIMATE FOR MINTO DEPOSIT, YUKON

Venerable Ventures Ltd. has released an updated mineral resource estimate (MRE) for the Minto copper-gold project in the Yukon Territory, Canada. The updated mineral resource estimate has an effective date of April 7, 2025. The updated estimate includes 2021 and 2022 drilling results, a revised geological interpretation allowing incorporation of additional open pit resources and new mineralized zones, as well as updated prices and costs.

Highlights:

• Indicated mineral resource: 12.6 million tonnes (Mt) at 1.20 per cent Cu (copper), 0.46 grams per tonne (g/t) gold and 4.3 g/t silver for 334 million pounds (Mlb) of Cu, 187,000 ounces (koz) Au and 1.7 million ounces (Moz) of silver;
• Inferred mineral resource: 23.7 Mt at 1.05 per cent Cu, 0.387 g/t Au and 3.9 g/t Ag for 547 Mlb Cu, 295 koz Au and 2.97 Moz Ag;
• The mineral resource has been constrained using conceptual pits and underground mining shapes based on updated prices, smelter terms and costs, as outlined in the notes to resource Table 1;
• Significant increased tonnage at the Minto North area with the discovery of a new, western mineralized domain. Grades at the Minto North area have higher-than-average gold and silver values compared with gold and silver values across the project.

"Upcoming drilling will target expansion and conversion of the open-pit and underground mineral resources at Minto, particularly around the high-grade Minto North area," said Ryan Weymark, strategic adviser for Venerable Ventures. "The removal of the previous precious metal stream as part of the bankruptcy process would potentially increase the value of these resources."

Updated mineral resource estimate overview

The attached table summarizes the Minto MRE update.

The Minto project encompasses five separate deposit areas including: Minto East, Minto North, Ridgetop, Copper Keel and Area 118. A total of 66 mineralized domains have been created to model the resource.

The mineral resource estimate is based on 1,781 drill holes totalling 376,089 m of drilling, with 18,138 m of drilling within the modelled mineralization at Minto. The resources were estimated using four three-dimensional percent models using MinePlan software and utilizing inverse distance squared interpolation of total Cu (TCu), acid soluble Cu (ASCu), Au and Ag grades performed using four passes of interpolation within interpreted mineralized shapes.

The updated 2025 Minto MRE also incorporates:

• Metal prices of $2,000 (U.S.)/oz Au, $4.00 (U.S.)/lb Cu and $23 (U.S.)/oz Ag;
• Revised mineral resource cut-offs reporting at $30/tonne for the open pit and $80/tonne for the underground;
• The addition of 210 drill holes from 2021 and 2022 for 56,331 m of drilling and 52,973 m of assays within the Minto models;
• Revisions to the geological interpretation and three-dimensional mineralization modelling;
• Updated capping and outlier restriction of high-grade outliers to validate the models;
• Updated previously mined volumes to ensure previous underground mining has been accounted for.

The qualified person of the mineral resource estimate, Sue Bird, PEng, has visited the Minto site on the following occasions: Feb. 2 through Feb. 5, 2021, on Oct. 9, 2021, for one day, and on Oct. 9, 2024, for one day. The site visits included collection of independent duplicate samples for umpire laboratory analysis.

Minto project geology

The Minto property is located within the Minto copper belt (formerly known as the Carmacks copper belt) (Kovacs, 2018), a 42-kilometre long, northwest-trending series of copper-gold deposits and occurrences in central Yukon. These deposits are hosted within deformed and metamorphosed inliers engulfed by the intrusions of the Late Triassic to Early Jurassic Minto pluton (204 to 195 Ma (million years ago)) (Colpron et al., 2015).

The Minto property area is underlain by the southern margin of the 204 million to 195 million year old (Ma) Minto pluton. The Minto pluton consists of medium to coarse grained granite, biotite-hornblende granite, granodiorite and quartz monzonite. The south boundary lies in east-west-trending normal fault contact with mafic to intermediate volcanic rocks of the Late Cretaceous Carmacks Group. The east boundary lies in north-northwest-trending fault contact with Lewes River Group, Povoas formation augite phyric basalt, volcaniclastic rocks and hornblende gabbro (Hart and Radloff, 1990). Lewes River Group rocks comprise part of the northern extent of the Whitehorse trough, representing the northern limit of the Stikine terrane, or Stikinia.

Hypogene copper sulphide mineralization is hosted within variably deformed, metamorphosed and migmatized Late Triassic rocks that are engulfed by the undeformed and unmineralized felsic intrusive phases of the Minto pluton. Copper sulphide mineralization is restricted to the metamorphic rocks and occurs in three distinct forms: disseminated chalcopyrite plus or minus pyrite, foliaform chalcopyrite, and net-textured bornite-chalcopyrite plus or minus digenite (Kovacs, 2018). Oxidation and alteration of primary mineralization indicates near-surface extensions of mineralized zones.

Technical information

The disclosure herein, including relating to mineral resource estimates, has been prepared in accordance with the requirements of Canadian securities laws, as set forth in National Instrument 43-101, which references the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the CIM) classification system, the CIM definition standards on mineral resources and mineral reserves, adopted by the CIM Council.

The technical work of the 2025 Minto project MRE was completed by Sue Bird, PEng, of Moose Mountain Technical Services (MMTS), and Travis O'Farrell, PEng, of Fuse Advisors Ltd., both independent qualified persons as defined by NI 43-101. They have reviewed, verified and approved the technical information related to the MRE in this news release.

About Minto

Minto is an idled open-pit and underground copper-gold mine located on Selkirk first nation land in the Yukon Territory. The site includes a 4,200-tonne-per-day mill, camp, water treatment facilities, numerous ancillary buildings plus mobile equipment. 843093 Yukon Inc., a Yukon company, wholly owned indirectly by Selkirk first nation, currently owns the project. On June 30, 2025, the company announced an LOI (letter of intent) to acquire 843093 Yukon and to rename the company Selkirk Copper Mines Inc.

We seek Safe Harbor.