Mr. Tyrell Sutherland reports

VIRIDIAN CONFIRMS BASIN-SCALE PLUMBING SYSTEMS AND COPPER-BEARING CHEMICAL TRAPS AT THE SEDNA PROJECT

Extensive sediment-hosted copper mineralization within the Seal basin has been demonstrated to be driven by a deeply rooted, crustal-scale plumbing network beneath Viridian Metals Inc.'s Sedna project in Labrador, Canada.

By integrating newly acquired magnetotelluric data with detailed surface mapping, Viridian has defined the geological architecture underpinning this district-scale mineralizing system, comparable with that of major sediment-hosted copper districts globally. This framework outlines the deep-seated structural foundation of a basin long recognized for copper mineralization, linking fluid sources at depth to favourable horizons at surface and confirming the structural basis of an emerging copper district.

Key take-aways:

• Confirmed multilevel plumbing system: Magnetotelluric data have imaged deeply rooted, north-south-oriented breaks interpreted as deep-rooted structural breaks. These structures likely served as primary highways for transporting copper-rich fluids from depth while surface mapping and satellite imagery define laterally extensive east-west structural corridors traceable for over 100 kilometres.
• Identification of basin-scale fertile copper traps: Viridian has delineated copper-bearing reduced horizons extending over tens of kilometres at favourable stratigraphic levels. These horizons represent laterally extensive reductant traps capable of trapping copper from fluids.
• Discovery of widespread disseminated copper mineralization: Fine-grained, disseminated chalcopyrite (copper), not visible in hand specimen, explains why this style of mineralization was overlooked by historical exploration and is characteristic of large sediment-hosted copper systems.
• District-scale control of the Seal basin: Sedna covers greater than 2,600 square kilometres and secures the majority of the basin, placing it among the largest contiguous exploration projects in Canada and enabling systematic basin-wide targeting.

"We have moved from a theoretical model to a proven framework," said Tyrell Sutherland, president and chief executive officer. "By confirming both the deep-rooted plumbing systems and the extensive copper-bearing horizons, we have significantly derisked the project. We aren't just looking for a single deposit. We are uncovering an entire copper district."

The MT survey imaged deeply rooted, lithosphere-penetrating structures extending for tens of kilometres vertically beneath the basin, confirming the presence of crustal-scale fluid pathways and validating a key component of Viridian's copper exploration thesis. These results culminate a year-long, basin-scale exploration program focused on evaluating the fundamental controls on fluid flow, metal transport and deposition across the project area.

The lateral extent of fluid pathways within the basin is independently constrained by regional structural mapping and satellite imagery analysis, which identify laterally extensive east-west-oriented structural corridors traceable for more than 100 kilometres at surface across the Sedna project and broader basin. These shallow structures occur largely at a high angle to the deeply rooted north-south-oriented features imaged by MT, defining a vertically layered and geometrically complex plumbing system that provides multiple opportunities for fluid focusing and fluid rock interaction.

System validation through integrated basin-scale work

Over the past year, Viridian has advanced the Sedna project through a systematic exploration program integrating regional structural analysis, stratigraphic interpretation, basin-wide lithogeochemistry, remote sensing and deep-penetrating geophysics. The MT survey represents a critical step in this workflow, confirming that the basin is underlain by deeply rooted plumbing systems capable of sourcing and transporting copper-bearing fluids from basement into receptive basin stratigraphy.

Importantly, these fluid pathways intersect continuous, chemically reduced horizons lower in the stratigraphic column, where large sediment-hosted copper systems are prone to develop. The presence of disseminated chalcopyrite within horizons extending beyond structural zones demonstrates that the system is fertile throughout the basin and that mineralization is not restricted to discrete or localized targets.

Project-scale enables mineral system exploration

The scale of the Sedna project, encompassing more than 2,600 square kilometres and securing dominant control over the Seal basin, allows Viridian to assess the basin as a coherent mineral system. This approach has led to the recognition of both the vertically extensive plumbing architecture required to transport mineralizing fluids through the crust and the presence of laterally extensive chemical traps capable of precipitating copper once those fluids enter the basin.

Together, these results confirm that the fundamental ingredients for a major sediment-hosted copper district are present and spatially associated within the project area.

Next steps

Viridian has initiated the permitting process to establish access infrastructure within the Sedna project, including construction of a trail and a central staging area to support follow-up exploration. Initial access is intended to focus on the Kendall target area, where structural mapping has identified a copper-bearing structure traced over approximately 600 metres of strike length.

In parallel, the company is defining the technical assumptions for a basin-scale airborne geophysical survey aimed at tracing reduced stratigraphic horizons across the basin and identifying where they intersect major plumbing structures considered high-priority targets for focused follow-up exploration.

MT survey and data quality

MT data over the Sedna project were collected and processed by Moombarriga Canada Inc., which was engaged by the company to acquire, process and complete 2-D and 3-D inversions of the data set.

The survey was completed in fall 2025 using Phoenix instrumentation over a frequency range of 10,000 to 0.001 hertz. A total of 71 MT stations were acquired across the Seal basin. Data were edited to remove low-quality points and interpolated prior to inversion to ensure consistent frequency coverage.

Three-dimensional inversions were performed using the Viridien (formerly CGG) RLM3D inversion algorithm (Mackie and Madden, 1993) within the Geotools software suite. A two-step inversion approach was applied to refine conductivity contrasts and enhance structural resolution at depth. Multiple model domains were evaluated to test structural continuity and robustness.

The preferred Sedna 3-D inversion model achieved a normalized root-mean-square (nRMS) misfit value of approximately 1.6, indicating a strong correlation between observed and modelled responses and supporting the overall quality and reliability of the data set.

Moombarriga concluded that the preferred inversion results provide reliable resolution of both deep crustal structures and near-surface conductivity variations within areas of survey coverage.

Qualified person

Tyrell Sutherland, PGeo, president and chief executive officer of Viridian Metals, who is a qualified person as defined in National Instrument 43-101 (Standards of Disclosure for Mineral Projects), has reviewed and approved the technical disclosure contained in this news release.

Correction to equity incentive disclosure

The company reported in its news release dated Feb. 5, 2026, that it would issue performance share units and restricted share units with a vesting term of one year.

The company wishes to clarify that the PSUs and RSUs were granted with a vesting term of two years with 50 per cent of the RSUs and PSUs vesting on each of Feb. 5, 2027, and Feb. 5, 2028.

There are no other changes to the details reported in the original news release.

About Viridian Metals Inc.

Viridian Metals is a pioneer and leader in generative metal exploration with a focus on environmental responsibility and ethical practices. Founded with the intention of discovering new critical metal deposits with the potential to transform the metal supply chain, it leverages innovative technologies and methods to enhance efficiency and sustainability in jurisdictions eager to be leaders in supplying the energy transition. Viridian maintains expertise in a range of critical metals with a primary focus on copper, nickel and cobalt in the near term. Its commitment to integrity and transparency fosters strong partnerships with both local and global stakeholders.

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