Mr. Tyrell Sutherland reports

VIRIDIAN METALS ANNOUNCES $1.0 MILLION PRIVATE PLACEMENT

Viridian Metals Inc. intends to complete a non-brokered private placement consisting of the issuance of up to 2,222,222 units of the company at a price of 45 cents per unit, for aggregate gross proceeds to the company of up to $1-million.

Each unit will comprise one common share of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder to acquire one common share of the company at an exercise price of 60 cents per share for a period of 24 months from the date of issuance.

"Viridian is entering an active period, with our 2026 drill program under way and drilling expected to continue at Kraken until November," said Tyrell Sutherland, president and chief executive officer of Viridian. "Our capital to date has been directed toward work on the ground. This financing is intended to fund our ongoing exploration and corporate programs and to broaden awareness of the company among investors as that work progresses."

The offering price of the units was established in accordance with the policies of the Canadian Securities Exchange (the CSE). The units will be offered pursuant to available exemptions from the prospectus requirements under applicable Canadian securities laws. The private placement is expected to close on or about Aug. 31, 2026, and is subject to the acceptance of the CSE.

The net proceeds of the private placement are expected to be used for establishing an investor relations, corporate communications and market awareness budget, and for general corporate and working capital purposes. Viridian will announce any investor relations agreements entered into by it by further press release as required by the policies of the CSE.

All securities issued pursuant to the private placement will be subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws. The securities issued under the private placement will also be subject to an exchange hold imposed in accordance with Section 6.1(4) of CSE Policy 6 -- Distributions & Corporate Finance. The company may pay finders' fees in cash and securities to arm's-length finders engaged in connection with the private placement, in accordance with the policies of the CSE.

Certain directors, officers and other insiders of the company may participate in the private placement. Any such participation will constitute a related party transaction under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company expects to rely on the formal valuation exemption in Section 5.5(b) of MI 61-101, on the basis that the company's securities are not listed on a specified market for the purposes of that section, and on the minority approval exemption in Section 5.7(1)(a) of MI 61-101, on the basis that, at the time the securities comprised in the units are issued, neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the private placement insofar as it involves related parties exceeds 25 per cent of the company's market capitalization as determined in accordance with MI 61-101. The company did not file a material change report in respect of the related party transaction at least 21 days before the expected closing date of the private placement, as the details of insider participation were not settled until shortly prior to closing and the company wished to complete the private placement on an expedited basis.

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 metals deposits with the potential to transform the metal supply chain. The company 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. The company's commitment to integrity and transparency fosters strong partnerships with both local and global stakeholders.

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