OTTAWA, Ontario, Sept. 08, 2026 (GLOBE NEWSWIRE) -- Viridian Metals Inc. (CSE: VRDN) (OTCQB: VIRMF) reports initial assay results from its 2026 drill program at the Kraken Main Zone in Labrador. Results include the extension of VKS25-024 and assays from the first portion of VKS26-052 and holes VKS26-053 and VKS26-054.

Highlights

• VKS25-024: 50.15 metres @ 0.68% CuEq¹ from 1 metre including 18.8m @ 1.12% CuEq¹ from 12.2m, expanding the previously reported interval of 24.05 metres grading 0.77% CuEq¹ from 1 metre. Mineralization begins at surface and continues to the end of the extended hole at 51.15 metres, defining a mineralized package more than 50 metres thick.
• VKS26-054: 3.3 metres @ 1.68% CuEq¹ from 0.7m and 15.2m @ 0.98% CuEq¹¹ from 11.7m. VKS26-054 was drilled to 30.9 metres and is a twin of VKS23-013 which was mineralized over its entire 5.35-metre length before being terminated in mineralization (see Viridian’s Technical Report dated September 23, 2024 filed on its profile on SEDAR+ at www.sedarplus.ca for further details of VKS23-013).
• Large step-outs underway: VKS26-059, VKS26-060, VKS26-062, approximately 600, 900 metres and 1.2 kilometres from previous drilling, respectively, intersected visually identified semi-massive sulphide mineralization at the top of bedrock. Holes are being processed for sampling and laboratory results are required to determine the presence, grade and distribution of copper, nickel, cobalt and other metals.
• Planned Kraken Main Exploration Target: Viridian is finalizing work on the initial “exploration target” based on drilling completed prior to the 2026 program.

“The extension of VKS25-024 shows that the mineralized horizon can be considerably thicker than previously modeled,” said Tyrell Sutherland, President and Chief Executive Officer of Viridian Metals. “Here, mineralization begins at surface and continues beyond 50 metres depth. The original hole established consistent mineralization over 24 metres, and the extension shows the horizon can thicken substantially in places. Identifying these thicker pods within the broader mineralized horizon is an important avenue for adding volume to the mineralization already identified across Kraken Main.”

“The 2026 program is now entering its busiest period, with two rigs operating at Kraken and drilling expected to continue through the end of October. Our focus remains on systematically defining the geometry and continuity of the shallow mineralized system at Kraken Main while continuing to test its broader extent.”

VKS25-024 previously returned 24.05 metres @ 0.77% CuEq¹ from 1 metre and ended in massive to semi-massive sulphide mineralization at 25.05 metres (see Viridian news release dated February 26, 2026 which is available on the Company SEDAR+ profile at www.sedarplus.ca and the Company’s website at www.viridianmetals.com). Viridian prioritized extending this hole this year, advancing it to 51.15 metres before reaching the limit of the drilling equipment. As reported visually on August 6, 2026, massive to semi-massive sulphides continued from the end of the original hole to approximately 33 metres before transitioning into patchy net-textured and disseminated sulphide mineralization farther down the hole (see Viridian news release dated August 6, 2026). Final assays from the extended hole returned 50.15 metres @ 0.68% CuEq¹ from 1 metre. Mineralization begins at surface, although poor core recovery prevented the uppermost metre from being included in the reported assay interval.

Figure 1:Cross-section showing downhole copper-equivalent (CuEq¹) grades in VKS25-024 and adjacent drill holes. VKS25-024 was extended from 25.05 metres to 51.15 metres during the 2026 drill program. Reported intervals represent downhole lengths; true thicknesses are not yet known.

Only the first portion of VKS26-052 is reported in this release. Drilling issues required Viridian to suspend the hole, it is now scheduled to be completed as the season progresses. Results from the remaining portion of the hole will be reported when available.

VKS26-053 was abandoned at a depth of 11.1 metres. Based on mineralization encountered in the upper portion of the hole, Viridian plans to step back from the collar and redrill the target to test the full thickness of the mineralized horizon.

VKS26-054 was drilled to twin and extend VKS23-013, which was mineralized over its entire 5.35-metre length before terminating in massive sulphides. VKS26-054 tested the mineralized horizon to greater depth and intersected four horizons of massive sulphides before entering country rock. Several overlimit nickel analyses from the mineralized intervals have not yet been received and are not included in the results reported in this release. Viridian will report the final results from VKS26-054 once these analyses have been received.

Table 1 - Kraken Main Zone drill collars, this release. Collar coordinates are reported in NAD83 / UTM Zone 20N. Azimuths are referenced to true north.

Table 2 - Kraken Main Drill Results

*True thickness of the reported mineralized intervals is not yet known. Reported interval lengths represent downhole core lengths and should not be interpreted as true thickness.

Intercepts are calculated based on 0.1% CuEq¹ cutoff grade corresponding to approximately $10USD NSR with no more than 1.5m of internal dilution. Viridian has completed specific gravity measurements and full multi-element geochemical analysis on all samples to support ongoing characterization of the Kraken system.

2026 Drill Program Update

Viridian currently has two drill rigs operating at Kraken, with drilling expected to continue through the end of October. The 2026 program is focused on defining the geometry and continuity of mineralization at Kraken Main, testing the full thickness of the mineralized horizon where historical drilling ended in mineralization or did not fully test its depth extent, and testing progressively larger step-outs across the broader mineralized system.

To date, 12 holes have been completed during the 2026 program for approximately 350m. Eight holes have been submitted for analysis, with additional core being processed and submitted on a rolling basis.

Recent drilling testing progressively larger step-outs across Kraken Main. VKS26-059, VKS26-060 and VKS26-062 tested areas approximately 600 metres, 900 metres and 1.2 kilometres from previous drilling, with all three holes intersecting visually identified semi-massive sulphide mineralization at the top of bedrock. All three holes are being processed for sampling. Visual observations of sulphide mineralization are preliminary in nature and should not be considered representative of assay results. Laboratory analyses are required to determine the presence, grade and distribution of copper, nickel, cobalt and other metals.

Figure 2: Upper portion of hole VKS26-062 from 10m (top of bedrock) to 27 metres, showing intervals of massive to net-textured sulphides. Drill core is BTW size with a diameter of 4.2 cm (1.65”).

Figure 3:Semi-massive sulphides observed in upper portions of hole VKS26-060. Drill core is BTW size with a diameter of 4.2 cm (1.65”).

Planned Kraken Main Exploration Target

Viridian is finalizing exploration target work for the Kraken Main Zone using drilling completed prior to the start of the 2026 drill program.

The initial exploration target work will not incorporate any 2026 drilling, including the extension of VKS25-024 and the step-out drilling discussed in this release. The 2026 program is testing the full thickness of the mineralized horizon in areas where previous drilling did not fully define its depth or continuity, while also increasing the density of drilling at the Kraken Main Zone.

The potential quantity and grade of the exploration target described above will be conceptual in nature. There has been insufficient exploration at the Kraken Main Zone to define a mineral resource, and it is uncertain whether further exploration will result in the target being delineated as a mineral resource. The exploration target will not be a mineral resource estimate and should not be construed as one. No economic analysis has been prepared in respect of the exploration target, and none may be prepared.

QA/QC

On receipt from the drill site BTW-sized drill core was systematically logged for geological attributes, photographed and sampled at Viridian’s Core Shack at Kraken Camp. Sample lengths as small as 0.30 m were used to isolate features of interest, but most samples within moderate to strong mineralization were 0.5-1.0 m in length. Core was cut in half lengthwise along a pre-determined line, with one half (same half, consistently, dictated by cut line where present) collected for analysis and one half stored as a record. Standard reference materials and blanks were inserted by Viridian personnel at regular intervals into the sample stream. Bagged samples were sealed with security tags to ensure integrity during transport. They were delivered by expeditor to Activation Labs’ facility in Ancaster, ON.

Activation Labs is independent of Viridian and accredited to ISO/IEC 17025. Samples were dried, crushed (< 7 kg) up to 80% passing 2 mm using riffle split (250 g) and pulverized to 95% passing 105 µm (code RX1). A four-acid near-total digest with an inductively coupled plasma optical emission spectroscopy (ICP-OES) finish was used for 35-element analysis on 25 g sample pulps (code 1F2). Samples that were over the analyses limit for Co, Cu and Ni were reanalyzed using sodium peroxide fusion ICP (code 8-peroxide).

Qualified Person

Tyrell Sutherland, P.Geo, President and CEO 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.

¹Copper Equivalent Calculation

CuEq¹ represents CuEq¹ calculated based on the following metal prices (USD): $4.00/lb Cu, $7.50/lb Ni and $15.00/lb Co, and a recovery grade of 80% for Ni and Co, consistent with comparable peers. The Company believes that all metals included in the CuEq¹ calculation have a reasonable potential to be recovered. CuEq¹ values are provided for illustrative purposes only; actual recoveries and metal prices may differ materially from those assumed.

About Viridian Metals

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. We leverage 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. Our commitment to integrity and transparency fosters strong partnerships with both local and global stakeholders.

For further information, please contact:

Viridian Metals
Tyrell Sutherland
CEO
Telephone: (613) 884-8332
Email: Info@viridianmetals.com 

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward Looking Information.

This news release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of Viridian with respect to future business activities and operating performance.

Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results “may”, “could”, “would”, “might” or “will” (or other variations of the foregoing) be taken, occur, be achieved, or come to pass.

Forward-looking information in this news release includes, but is not limited to, statements regarding: (i) the continuation, scope and completion of the 2026 drill program at the Kraken Copper-Nickel Project, including the expectation that two drill rigs will continue operating through the end of October 2026; (ii) the expectation that hole VKS26-052 will be completed as the season progresses and that results from the remaining portion of that hole will be reported when available; (iii) the Company's plan to step back from the collar of hole VKS26-053 and redrill the target to test the full thickness of the mineralized horizon; (iv) the receipt of pending overlimit nickel analyses from hole VKS26-054 and the reporting of final results from that hole; (v) the timing and content of assay results from holes submitted to the laboratory but not yet reported, and from holes VKS26-059, VKS26-060 and VKS26-062 currently being processed for sampling; (vi) the expectation that visually identified sulphide mineralization will be confirmed by laboratory analysis; (vii) the preparation, completion, timing, content and disclosure of an initial exploration target for the Kraken Main Zone, including the expectation that an update will be provided in the coming weeks; (viii) the potential for a mineral resource estimate to be prepared at Kraken Main at some future date; (ix) the Company's interpretations regarding the geometry, continuity, thickness and depth extent of the mineralized horizon at Kraken Main, including true thicknesses of reported intervals, and the potential to expand mineralization through extension and step-out drilling; (x) the metal prices, metallurgical recoveries and other assumptions underlying the copper-equivalent calculations disclosed herein, and the expectation that the metals included in those calculations have a reasonable potential to be recovered; (xi) the business plans and expectations of Viridian; and (xii) expectations for other economic, business and/or competitive factors in respect of Viridian.

In particular, readers are cautioned that the exploration target referred to in this news release, when disclosed, will be conceptual in nature; there has been insufficient exploration at the Kraken Main Zone to define a mineral resource, and it is uncertain whether further exploration will result in any target being delineated as a mineral resource. There is no certainty that a mineral resource will be defined at Kraken Main. Visual estimates of sulphide mineralization are preliminary and are not a substitute for laboratory analysis. Copper-equivalent values are provided for illustrative purposes only and no metallurgical testwork has been completed at Kraken Main; actual recoveries may differ materially from the assumptions used.

Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of Viridian to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to Viridian, including information obtained from third-party industry analysts and other third-party sources, and are based on management’s current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement.

Investors are cautioned that forward-looking information is not based on historical facts but instead reflects management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information reflects Viridian’s current beliefs and is based on information currently available to it and on assumptions it believes to be not unreasonable in light of all of the circumstances. In some instances, material factors or assumptions are discussed in this news release in connection with statements containing forward-looking information. Such material factors and assumptions include, but are not limited to: the availability of drill rigs, qualified personnel and contractors on the timelines anticipated; the ability to obtain and maintain all required permits, surface access rights and Indigenous and community consents to conduct the planned program; weather, site access and logistical conditions in Labrador remaining consistent with the Company’s expectations; the accuracy of the Company’s geological models and the Company’s interpretations of prior drilling, geophysical surveys and modeled conductor plates; the continued availability of financing and working capital to fund the program through to completion; commodity prices for copper, nickel and cobalt remaining at levels supportive of the program; the absence of material adverse changes in applicable laws, regulations or political conditions; the ongoing conflicts in Ukraine and the Middle East and any actions taken by other countries in response thereto, such as sanctions or export controls; and anticipated and unanticipated costs and other factors referenced in the Company’s continuous disclosure record available on SEDAR+, including, but not limited to, those set forth in the Filing Statement under the caption “Risk Factors”. Although Viridian has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein is made as of the date of this news release and, other than as required by law, Viridian disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/fb601bf5-e73c-436a-9f4d-6f52c8eca3b5
https://www.globenewswire.com/NewsRoom/AttachmentNg/e1ac251d-f0dc-4a0f-845c-19b327a76d4f
https://www.globenewswire.com/NewsRoom/AttachmentNg/0a7294e6-cfe4-4a54-8a40-b7bb6e1f2206

Figure 1

Cross-section showing downhole copper-equivalent (CuEq¹) grades in VKS25-024 and adjacent drill holes. VKS25-024 was extended from 25.05 metres to 51.15 metres during the 2026 drill program. Reported intervals represent downhole lengths; true thicknesses are not yet known.

Figure 2

Upper portion of hole VKS26-062 from 10m (top of bedrock) to 27 metres, showing intervals of massive to net-textured sulphides. Drill core is BTW size with a diameter of 4.2 cm (1.65”).

Figure 3

Semi-massive sulphides observed in upper portions of hole VKS26-060. Drill core is BTW size with a diameter of 4.2 cm (1.65”).

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