Mr. Sam Pazuki reports

AUMEGA METALS COMPLETES INITIAL DRILLING AT ISLE AUX MORTS GRANITE AND CAPE RAY WEST

Aumega Metals Ltd. has completed its initial diamond drilling program at the Isle aux Morts Granite and adjoining Cape Ray West target area along the Cape Ray shear zone in Newfoundland and Labrador, Canada.

The initial program represents the first drill test of any kind into the IAMG. The program provided initial drill testing of several geological concepts, including structurally controlled gold mineralization and the potential for an intrusion-related magmatic-hydrothermal system.

The company is awaiting laboratory assay results, which are expected to be received progressively over the coming weeks.

Highlights:

• Initial diamond drilling at the IAMG and Cape Ray West is complete, with nine holes totalling approximately 2,087 metres drilled.
• The program included an extensional drill hole at Window Glass Hill and the first hole into the Early Bird target, a new structurally controlled gold target.
• The drill rig has been mobilized to Bunker Hill, where drilling has already commenced and will continue for as long as weather conditions permit.
• The company expects to return to drilling Cape Ray in mid-fourth quarter 2026 to undertake follow-up drilling, including the potential deeper testing of targets within and adjacent to the IAMG.

Isle aux Morts Granite

The IAMG was identified as a priority drill target following the integration of geological mapping, geophysics and surficial geochemistry. This work defined a demagnetized central domain associated with anomalous bismuth, molybdenum and copper (till sampling), interpreted as a potentially fertile magmatic-hydrothermal system.

The company completed seven drill holes within the IAMG, testing targets within the intrusive core, along its western flank and across the interpreted contact between the granite and surrounding sedimentary rocks. While most holes were designed to approximately 200-metre depth, two holes targeting the core of the intrusion were extended to 351 metres and 372 metres to provide deeper geological coverage of the interpreted magmatic hydrothermal system.

Three holes tested the western flank of the IAMG, targeting a cluster of anomalous gold-in-till results spatially associated with a north-trending structure. A further hole was completed in the southwestern portion of the granite to test the intrusive-sedimentary contact adjacent to a separate gold-in-till trend.

Assay results are expected progressively over the coming weeks. The company plans to return to the area in mid-Q4 2026 for follow-up drilling, which may include deeper testing of priority targets within and adjacent to the IAMG.

Window Glass Hill and Early Bird

The program included a single drill hole at Window Glass Hill, testing extensions of the mineral resource to the northeast and for a possible repeat of an ore shoot at depth.

Aumega also completed the first hole at Early Bird, which is located 1.2 kilometres to the west of the company's BP deposit. Early Bird is a new gold target identified from last year's surficial geochemical survey that delivered the highest gold-in-till result of the survey. The Early Bird target is defined by an interpreted northeast-plunging anti-form hinge intersected by subparallel northeast-striking shear zones, with coincident zones of magnetic destruction, anomalous gold and base metals in till, and mapped chalcopyrite-bearing quartz veins at surface.

Assays from Window Glass Hill and Early Bird are pending.

Bunker Hill

The drill rig has been mobilized to Bunker Hill, where the company will test a pipeline of high-priority gold and polymetallic targets across this expansive and underexplored project area.

Drilling will focus on three priority target areas:

• Southeast base metal target: a previously undrilled polymetallic target defined by an east-northeast-striking high-tenor lead anomaly coincident with silver, copper and zinc till anomalism;
• Branch fault corridor: a structurally controlled gold target associated with a prominent second-order fault corridor containing demagnetized fault jogs and splays; the target is supported by coherent gold-in-till anomalism with coincident silver, lead and antimony;
• Bunker Hill West: a gold target located where several secondary structures intersect the principal CRSZ; the target is characterized by prominent structural disruption, demagnetization and fault splays associated with the northwest-southeast structural corridor.

The program is designed to test a range of geological concepts, from structurally controlled orogenic gold mineralization to a potential polymetallic copper-lead-zinc-silver system. Drill sequencing will remain flexible, allowing the company to respond to geological observations as drilling progresses.

Drilling at Bunker Hill will continue for as long as seasonal weather and operating conditions permit.

Sam Pazuki, managing director and chief executive officer of Aumega, commented: "Completing the first ever drilling at the Isle aux Morts Granite is an important milestone for Aumega. This program tested multiple geological concepts across the intrusive core, its margins and the surrounding structural setting, while also advancing the new Early Bird gold target and extending our work at Window Glass Hill.

"We now look forward to receiving the assay results and integrating them with our geological, geophysical and geochemical data sets to refine the next phase of drilling. In the meantime, the rig has moved to Bunker Hill, where we are testing a pipeline of high-priority gold and polymetallic targets across another underexplored part of our extensive land package. Following this drilling, we expect to return to Cape Ray for additional drilling with the potential of drilling a much deeper hole into the Isle aux Morts Granite."

About Aumega Metals Ltd.

Aumega is utilizing best-in-class exploration to explore on its district-scale land package that spans 110 kilometres along the Cape Ray-Valentine shear zone, a significant underexplored geological feature recognized as the largest identified gold structure in Newfoundland, Canada. 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 mineral resource. Additionally, Aumega holds a 27-kilometre stretch of the highly prospective Hermitage flexure.

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

Aumega's Cape Ray shear zone hosts several dozen high-potential targets along with its existing defined gold mineral resource of 6.2 million tonnes grading an average of 2.25 g/t gold, totalling 450,000 ounces of indicated resources, and 3.4 million tonnes grading an average of 1.44 g/t gold, 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.

Reference to previous announcements

In relation to this news release, all data used to assess targets have been previously disclosed by the company and referenced in previous Joint Ore Reserves Committee releases. Please see announcements dated Jan. 15, 2026, Jan. 8, 2026, Oct. 16, 2025, July 29, 2025, May 26, 2025, May 16, 2025, Sept. 24, 2024, and March 22, 2023. In relation to the mineral resource estimate announced on May 30, 2023, the company confirms that all material and technical assumptions underpinning the estimates in that announcement continue to apply and have not materially changed. The company confirms that the form and context in which the competent person's findings are presented have not been materially modified from the original market announcement.

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. 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.

Competent person's statements

The information contained in this announcement that relates to exploration results is based upon information reviewed by Giles Dodds, exploration manager for Aumega Metals. Mr. Dodds is a member of the Australian Institute of Geoscientists, and has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a competent person as defined in the JORC Code 2012. Mr. Dodds consents to the inclusion in the announcement of the matters based upon the information in the form and context in which it appears and to the inclusion in the announcement of the matters based upon the information in the form and context in which it appears.