Mr. Sam Pazuki reports

AUMEGA DEFINES NEW MULTI-KILOMETRE GOLD CORRIDOR AT CAPE RAY WEST

Aumega Metals Ltd. has released results from its recently completed surficial geochemistry (till) program at Cape Ray West, part of the company's 100-per-cent-owned Cape Ray gold project located along the Cape Ray-Valentine shear zone (CRSZ) in southwestern Newfoundland, Canada.

Key highlights

• High-grade gold-in-till anomalies: Multiple greater than 99th percentile gold values define three large, coherent anomalies extending up to approximately three kilometres in strike with peak value of 402 ppb (parts per billion) gold in till.
• Untested intrusive contact: Anomalies are spatially associated with a network of cross-cutting structures within the Isle aux Morts granite -- a large, underexplored felsic intrusive that has never been drill tested.
• Coincident anomalous features: Gold-in-till anomalies align with magnetic breaks and mapped geological structures, forming a multilayered anomaly signature.
• Generation of drill targets in progress: Integration of geochemical, geophysical and structural data sets is under way to define priority drill targets.
• Planned, fully financed initial drilling: Drilling planned in Q4 2025 on high-priority targets. The program is fully financed.
• Assays pending: Results expected from sampling over the major airborne electromagnetic anomaly southeast of Central zone and across the Isle aux Morts granite.

The program has outlined multiple high-grade gold-in-till anomalies, defining a new multikilometre gold corridor along the western contact of the Isle aux Morts granite -- a large, underexplored intrusive complex that has never been drill tested and which represents a new discovery frontier at Cape Ray.

Aumega Metal's managing director and chief executive officer, Sam Pazuki, commented:

"Cape Ray continues to demonstrate all the hallmarks of a fertile gold system, as we've now expanded the footprint of mineralization well beyond the boundaries of our current high-grade deposits. Cape Ray West has opened a brand-new, multikilometre discovery corridor. The results, located approximately three kilometres west of our Window Glass Hill mineral resource and one kilometre south of our BP deposit, reveal the convergence of high-grade gold-in-till anomalies with key structural and geophysical features along the Isle aux Morts granite -- a massive, underexplored intrusive complex. We are set up with multiple high-quality drill targets, which the company is fully funded to drill in the fourth quarter of 2025.

"Through the great work conducted this year, and the important analysis of the past two years, we've built a robust pipeline of high-quality opportunities across our district-scale land package. This includes Cape Ray and Cape Ray West, along with the exceptional regional programs advancing at Bunker Hill and Hermitage. Collectively, these projects reinforce our conviction that Aumega is operating within one of the most prospective and underexplored gold belts in Canada -- the same belt that hosts the country's newest large-scale gold mine at Valentine."

Overview

The Cape Ray project hosts 420,000 ounces of gold in indicated resources and 141,000 ounces in inferred resources, estimated at a gold price of $1,750 (U.S.)/ounce.

In recent months, Aumega completed an extensive review of both historical and new exploration data across all project areas, with a focus on Cape Ray. Much of the historical geological information had been limited to the resource pit shells.

This work integrated decades of legacy data with new high-resolution airborne electromagnetic (EM), magnetic and geochemical data sets acquired in 2025, aiming to fast-track discoveries through a modern, data-driven exploration approach.

The review confirmed that systematic till geochemistry is a powerful tool for mapping gold trends along the CRSZ. Importantly, historic till anomalies closely mirror the known resource footprints, validating the method as an effective discovery tool for orogenic gold systems in glaciated terrains.

Cape Ray West results

Building on this proven methodology, Aumega has completed an extensive till geochemical sampling and mapping program at Cape Ray West, aimed at expanding exploration into previously untested ground west of the current resource corridor.

The Isle aux Morts granite, a large felsic intrusive covering much of western Cape Ray, represents a major, untested discovery opportunity. Despite its size and proximity to known mineralized trends, neither the intrusive nor its contact zones have ever been drill tested.

To build on this potential, Aumega completed detailed geological mapping and rock sampling, integrating results with airborne magnetic and EM data sets to refine high-ranking structural and geochemical targets.

The till geochemical sampling grid was completed at 160-by-80-metre spacing, oriented north-south, with results defining three discrete gold-in-till anomalies.

• Anomaly one
  • Trends northwest-southeast and is coincident with a geophysical feature of the same orientation. The anomaly extends into the Isle aux Morts granite and along the northern boundary of a fault between paragneiss and siliciclastic sediments with a peak of 402 parts per billion gold and coincident arsenic anomalism.
• Anomaly two
  • Occurs within the Isle aux Morts granite, extending approximately 1,500 metres in length along a north-south trend coincident with geophysical features and mapped structures and quartz veins of the same orientation with a strong and coherent anomaly peaking at 118 ppb gold.
• Anomaly three
  • Approximately 1,900 metres long, trending east-northeast to west-southwest, coincident with geophysical features within both the paragneiss and the Isle aux Morts Granite and a peak value of 113 ppb gold.

Collectively, these results underscore the untapped potential of the Isle aux Morts granite as a new exploration front for Aumega and reinforce the company's strategy of combining modern data sets with legacy knowledge to unlock new discoveries across the CRSZ.

Continuing and next steps

Following receipt of preliminary results, the company mobilized a field team to undertake a broader till survey and expand geological mapping and rock sampling over the majority of the Isle aux Morts granite. Sampling has now been completed, and the material is being collated for dispatch to the laboratories for preparation and assaying.

While awaiting assay results, the company is integrating new till assay and geological data with EM and magnetics geophysical data sets to finalize priority drill targets. The company remains fully financed to commence drill testing at Cape Ray West in the fourth quarter of 2025.

About Aumega Metals Ltd.

Aumega Metals is utilizing best-in-class exploration to explore on its district-scale land package that spans 110 kilometres along the Cape Ray shear zone, a significant underexplored geological feature recognized as Newfoundland, Canada's largest identified gold structure. This zone currently hosts Equinox Gold's Valentine gold project, a multimillion-ounce deposit which is the region's largest gold project, along with Aumega's expanding mineral resource.

The company is supported by a diverse shareholder registry of prominent global institutional investors, and strategic investment from B2Gold Corp., a significant, intermediate gold producer.

Additionally, Aumega holds a 27-kilometre stretch of the highly prospective Hermitage Flexure and has also secured an option agreement for the Blue Cove copper project in southeastern Newfoundland, which exhibits strong potential for copper and other base metals.

Aumega's Cape Ray shear zone hosts several dozen high-potential targets along with its existing defined gold mineral resource of 6.1 million tonnes grading an average of 2.25 g/t, totalling 450,000 ounces of indicated resources and 3.4 million tonnes grading an average of 1.44 g/t, totalling 160,000 ounces in inferred resources.

Aumega acknowledges the financial support of the Junior Exploration Assistance Program, Department of Industry, Energy and Technology, provincial government of Newfoundland and Labrador, Canada.

Qualified person

The scientific and technical information in this press release was reviewed and approved by Shamus Duff, PGeo, project geologist. Mr. Duff is a qualified person as defined under National Instrument 43-101 and a professional geologist registered with Professional Engineers and Geoscientists of Newfoundland and Labrador (PEGNL). Mr. Duff consents to the publication of this press release and certifies that the information is provided fairly and accurately represents the scientific and technical information disclosed within it.

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