Mr. Alex Klenman reports

ARMORY MINING PROVIDES CORPORATE UPDATE

Armory Mining Corp. has provided an update on exploration activity scheduled through Q2 2026.

Ammo gold-antimony project

In December, 2025, the company announced it has engaged Castello Q Exploration Corp. to carry out an initial phase one work program at its 100-per-cent-owned Ammo antimony-gold project, located in Nova Scotia, Canada.

Ammo is 3,092-hectare exploration package that completely surrounds and is contiguous to the historical West Gore antimony-gold mine. West Gore produced both antimony and gold in the years leading up to World War I. The ground has since changed hands multiple times, and is currently held by Military Metals Corp.

West Gore was a significant producer during World War One, with production shipped to England. Records document nearly 32,000 metric tons of production between 1914 to 1917, yielding over 7,000 metric tons of antimony concentrate grading 46 per cent.

Total gold recovered up to 1917 was 6,861 ounces. Limited work was conducted in the 1950s, 1960s and 1980s by several companies along with the Nova Scotia government*.

The initial work program is expected to consist of data compilation, prospecting and reconnaissance, to identify favourable geology, followed by detailed surface sampling and geophysics to determine priority drill targets. The company plans to budget up to $656,000 for the initial phase of exploration.

Preliminary work is under way regarding data collection and analysis. The company will provide an update on the proposed work programs over the next few weeks.

Candela II lithium deposit

The company also issued an update in early December, 2025, regarding its Candela II lithium brine project located in the Incahuasi salar, Salta province, Argentina.

The company is moving forward on a scoping study which will enhance development of the Candela II project. A scoping study will evaluate both technical viability and economic potential of the deposit. The project has been advanced by the company with exploration drilling and has an inferred resource of 457,000 tonnes of lithium carbonate in situ. This resource estimate was completed by WSP Australia.

The current lithium carbonate price is up 30 per cent since the start of the year to a new two-year high, which brings the significance of the project into focus, and priority, for Armory.

The location of the project is within what is referred to as the Lithium Triangle, a section of South America that stretches among Bolivia, Chile and Argentina. Ganfeng Lithium, China's largest producer of the battery metal, has the adjacent concession to Candela II, and a production well approximately 9.8 kilometres away. Rio Tinto and Power Minerals (PNN) are also located nearby.

Technical information in this news release regarding Candela II has been previously published and was reviewed and approved at the time by Phillip Thomas, BSc Geol MBM, FAusIMM (CPVal), MAIG, who is a qualified person under the definitions established by the National Instrument 43-101.

About Armory Mining Corp

Armory Mining is a Canadian exploration company focused on minerals critical to the energy, security and defence sectors. The company controls an 80-per-cent interest in the Candela II lithium brine project located in the Incahuasi salar, Salta province, Argentina. In addition, the company controls 100-per-cent interest in both the Ammo antimony-gold project located in Nova Scotia and the Riley Creek antimony-gold project located in British Columbia.

Qualified person

Harrison Cookenboo, PhD, PGeo, an independent qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, has reviewed and approved the technical contents of this news release.

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