Mr. Chris Morrison reports

ANTEROS METALS ENTERS DEFINITIVE AGREEMENT

Further to Anteros Metals Inc.'s news release of Oct. 7, 2025, Anteros Metals and Rift Minerals Inc. have entered into an option and joint venture agreement dated Oct. 8, 2025, pursuant to which the company has been granted an option to acquire up to a 49-per-cent undivided right, title and interest in and to the Seagull project, a critical mineral exploration-stage property targeting platinum group elements (PGEs), nickel, copper and helium. The property is located approximately 80 kilometres northeast of Thunder Bay, Ont.

In order to exercise the option, the company shall:

• Underwrite the phase 1 cost of a 1,350-metre (m) borehole at the property (estimated at a minimum of $400,000 and up to $600,000 of anticipated exploration costs) to earn a contingent 20-per-cent interest in the property;
• Make a one-time upfront cash payment to Rift in the amount of $50,000, such payment to be made before the drilling is commenced;
• Complete a second phase of exploration pursuant to phase 1 results and recommendations for a phase 2 exploration program.

Upon completing the second phase, the company and Rift will incorporate a joint venture, which will be governed by a joint venture (JV) agreement. If the company does not enter into the joint venture or commence the second phase, the option will not vest.

Upon completion of the first phase, the company will own 20 per cent of the joint venture and Rift will own 80 per cent. In the event that the company finances and completes the second phase, the company will acquire an additional 29 per cent of the joint venture, and the joint venture will be 49 per cent owned by the company and 51 per cent owned by Rift.

About Anteros Metals Inc.

Anteros Metals is a Canadian exploration company focused on advancing a pipeline of critical minerals projects across Newfoundland and Labrador, and select Canadian jurisdictions. The company is targeting copper, nickel, zinc and emerging strategic commodities that support the global energy transition. Immediate plans for its flagship Knob Lake property include bringing the historical Fe-Mn (iron-manganese) mineral resource estimate into current status, as well as commencing baseline environmental and feasibility studies.

We seek Safe Harbor.