Mr. Tyrell Sutherland reports

VIRIDIAN INTERSECTS SULPHIDES THROUGHOUT 3 KM OF STEP-OUT DRILLING AT KRAKEN MAIN

Viridian Metals Inc. has released additional assay results from its 2026 drill program at the Kraken Main zone in Labrador and provided an update on major stepout drilling along the southern part of the Main zone.

Drilling tested approximately three kilometres south along Kraken Main, beginning approximately 500 metres south of Viridian's 2025 drilling infilling to a drill hole completed in 2023. All eight successfully drilled holes along this trend intersected visually identified sulphides, including the same patchy net-textured and semi-massive sulphide styles encountered in the established Main zone. Laboratory assays are required to determine metal grades.

Highlights:

• Three kilometres of stepout drilling: All eight successfully drilled holes intersected visually identified patchy net-textured sulphides along the southern three kilometres of Kraken Main.
• Broad sulphide-bearing intervals: VKS26-063 intersected 47.3 metres of patchy net-textured sulphides, VKS26-065 intersected 41.8 metres, VKS26-062 intersected 33.2 metres and VKS26-059 intersected 28.0 metres.
• Semi-massive sulphides in multiple stepouts: VKS26-062 and VKS26-060 intersected 7.7 metres and 6.7 metres of semi-massive sulphides, respectively.
• Sulphides begin at bedrock and remain open: Seven holes encountered patchy net-textured sulphides from the top of bedrock. Five ended in patchy net-textured sulphides.
• Additional assays have been received from the extension of VKS25-025 and part of VKS25-055.

"These results demonstrate the scale over which we continue to see the same sulphide system at Kraken Main," said Tyrell Sutherland, president and chief executive officer of Viridian Metals. "Across three kilometres of the southern Main zone, drilling has now intersected visually identified sulphides at an average spacing of approximately 400 metres, including higher-intensity semi-massive sulphides comparable to our best results to date.

"Previously, this three-kilometre section of Kraken Main was represented by just two partially analyzed holes spaced more than a kilometre apart and our 2023 drill hole at the southern end. We are now filling in that gap, consistently encountering sulphides from the top of bedrock, with several holes ending in visual mineralization. These results are consistent with the scale of the Main zone suggested by our interpretation."

Drilling update

Viridian has two drill rigs on site currently drilling holes VKS26-068 and VKS26-069 -- the 19th and 20th holes so far this season. To date, Viridian has drilled approximately 900 metres and has seen an uptick in drilled metres by 20 per cent in the month of September as drill crews have settled into an optimal sequencing. Currently, both rigs are on the Venus target, following up on a hole drilled in 2023 of 7.55 metres at 0.4 per cent nickel, 0.2 per cent copper and 0.05 per cent cobalt from surface, with associated precious metal values of up to 0.76 gram per tonne platinum, 0.33 gram per tonne palladium and 0.45 gram per tonne gold (see technical report dated Sept. 23, 2024, available on SEDAR+). Viridian will complete the two exploration holes on Oct. 5 and then both will return to the northern Main zone to progress with extending holes from Viridian's 2025 program that ended in the upper disseminated mineralization zones or failed to reach bedrock.

Viridian expects to have initial samples from holes through VKS26-063 processed and delivered to Activation Laboratories Ltd. in Ancaster, Ont., the week of Oct. 6, with assay results expected before the end of October. These results will provide the first assays from the major stepout drilling across the southern portion of Kraken Main.

VKS25-025 previously returned 5.25 metres at 0.24 per cent CuEq from 21 metres and ended in disseminated mineralization at 26.25 metres (see Viridian's news release dated Feb. 26, 2026, which is available on the company's SEDAR+ profile and the company's website). Viridian extended this hole this year as it appeared to intersect just the upper portions of the mineralized horizon. The hole was extended to 44.05 metres, continuing with disseminated mineralization to final depth before repairs forced the rig to be demobilized. Final assays from the extended hole returned 23.05 metres at 0.24 per cent copper equivalent from 21 metres. The bottom of the hole remains in disseminated mineralization an unknown distance above the main target horizon. If drill sequencing allows, the hole may be further extended in 2026 to attempt to reach the main mineralized horizon; however, as one of the company's deeper intervals, it will be prioritized relative to near-surface mineralization.

Only the first portion of VKS26-055 is reported in this release. The hole was a significant step back from previous drilling and did not reach its intended target depth. Minor isolated zones of sulphide mineralization were encountered in the upper portion of the hole.

Intercepts are calculated using a cut-off grade of 0.1 per cent CuEq, corresponding to approximately a $10 (U.S.) net smelter return with no more than 1.5 metres of internal dilution. Viridian has completed specific gravity measurements and full multielement geochemical analysis on all samples to support continuing characterization of the Kraken system.

Quality assurance/quality control

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 the Kraken camp. Sample lengths as small as 0.30 metre were used to isolate features of interest, but most samples within moderate to strong mineralization were 0.5 metre to 1.0 metre in length. Core was cut in half lengthwise along a predetermined line, with one-half (same half, consistently, dictated by cut line where present) collected for analysis and one-half was 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 the expeditor to Activation Labs' facility in Ancaster, Ont.

Activation Labs is independent of Viridian and accredited to ISO/IEC 17025. Samples were dried, crushed (less than seven kilograms) up to 80 per cent passing two millimetres using riffle split (250 grams) and pulverized to 95 per cent passing 105 micrometres (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-gram sample pulps (code 1F2). Samples that were over the analysis limit for cobalt, copper and nickel were reanalyzed using sodium peroxide fusion ICP (Code 8-peroxide).

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.

Copper equivalent calculation

Copper equivalent was calculated based on the following metal prices (U.S. dollars): $4 per pound copper, $7.50 per pound nickel and $15 per pound cobalt and a recovery grade of 80 per cent for nickel and cobalt, consistent with comparable peers. The company believes that all metals included in the copper equivalent calculation have a reasonable potential to be recovered. Copper equivalent values are provided for illustrative purposes only; actual recoveries and metal prices may differ materially from those assumed.

Agreement with Oak Hill Financial Inc.

The company is further pleased to announce that it has engaged Oak Hill Financial Inc., a Toronto-based investor engagement and capital markets advisory firm, to provide business and capital markets advisory, marketing, and investor relations services.

Under the terms of the engagement, Oak Hill will act as an adviser to the company, with a mandate to enhance Viridian's visibility and engagement within the investment community. Services will include targeted outreach to investment advisers and institutional investors, assisting with the development and dissemination of the company's investor presentation and other marketing materials, and providing monthly progress reports to the company. Where required, Oak Hill may engage its affiliate, Oak Hill Asset Management, a registered exempt market dealer, at no additional cost to the company. The company confirms that Oak Hill Financial is arm's length to the company.

The agreement became effective Sept. 16, 2026, has an initial term of two months and may be extended by the company on a month-to-month basis. Oak Hill will receive a monthly advisory fee of $12,000, plus applicable taxes, and will be reimbursed for preapproved out-of-pocket expenses. Oak Hill's business address is 2 Bloor St. W, Suite 2900, Toronto, Ont., M4W 3E2, and its contact is Anil Singh, managing partner (phone: 1-647-215-8372).

The company confirms that no securities of the company have been granted to Oak Hill or its principals as compensation for the services to be provided under the agreement. Oak Hill does not have any direct or indirect interest in the securities of the company, nor does it have any right or intent to acquire such an interest, except as may be purchased in the open market. The services to be provided by Oak Hill will include investor relations and marketing activities within the meaning of applicable securities laws and the policies of the Canadian Securities Exchange.

Depository Trust Company eligibility

Finally, Viridian is pleased to announce that its common shares are now eligible for electronic clearing and settlement in the United States through the Depository Trust Company (DTC).

DTC eligibility is expected to simplify the process of trading and enhance liquidity of Viridian's shares in the United States. The company's shares recently began trading on the OTCQB Venture Market under the ticker symbol VIRMF.

DTC is a subsidiary of the Depository Trust & Clearing Corp., a U.S. company that manages the electronic clearing and settlement of publicly traded securities. Securities that are eligible to be electronically cleared and settled through DTC are considered to be DTC eligible. This electronic method of clearing securities speeds up the receipt of stock and cash and thus accelerates the settlement process for investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms by coming into compliance with their requirements.

The company's common shares trade on the Canadian Securities Exchange under the symbol VRDN and on the OTCQB under the symbol VIRMF.

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.

We seek Safe Harbor.