Mr. Christopher Hill reports

AXION MINERALS COMMENCES PHASE 1 EXPLORATION AT CRANBERRY CREEK

Axion Minerals Corp. has commenced its phase 1 exploration program at the Cranberry Creek REE (rare earth element) property, located approximately 23 kilometres south of Revelstoke, B.C. The field team has mobilized to the property from Oct. 10, 2026, and will complete the fieldwork portion of work in four to five weeks depending upon the weather conditions and logistics.

The phase 1 work program is based on the recommended work program in the independent technical report on the Cranberry Creek REE property, effective June 3, 2026.

The initial fieldwork is focused on verifying and following up priority targets identified from the 2025 exploration program. Axion plans to test a limited number of selected locations associated with higher 2025 REE values using a portable backpack drill. The drilling is intended to collect shallow subsurface material for geological logging and analysis and to help assess the setting of the surface anomalies.

2025 exploration results provide follow-up targets

The report describes the November, 2025, exploration program as including prospecting, geological mapping, ground and airborne geophysical surveys, and the collection of 208 samples: 86 rock, 110 soil and 12 stream-sediment samples, including field duplicates. Rock samples returned total rare earth element (TREE) values from approximately 15 parts per million to more than 5,700 parts per million. The report also describes localized heavy rare earth element and yttrium responses as well as locally elevated zirconium values.

The 2025 results are reconnaissance surface-sampling results and are being used to guide follow-up exploration. They do not establish the source, subsurface grade, thickness or continuity of any mineralization. No mineral resource or mineral reserve has been defined for the property.

Phase 1 program

Phase 1 work includes detailed geological mapping and prospecting; follow-up rock and infill soil sampling; additional stream-sediment sampling in undertested drainages of Cranberry Creek and Mulvehill Creek; and ground radiometric surveying. Ground magnetic and/or VLF-EM (very-low-frequency/electromagnetic) surveys may also be completed over selected target corridors. Axion will integrate the geological, geochemical and geophysical information to refine and rank targets for future work.

"The 2025 sampling outlined several locations that merit closer investigation. We are following up selected higher REE values with focused backpack drilling while collecting the geological and geophysical information needed to determine the most appropriate next steps for Cranberry Creek," said Christopher Hill, chief executive officer of Axion Minerals.

Cranberry Creek REE property

The property comprises three contiguous mineral claims covering approximately 2,673.19 hectares in the Kamloops mining division of British Columbia. It is situated approximately 23 kilometres south of Revelstoke and is underlain principally by high-grade metamorphic rocks of the Monashee complex, including muscovite- and biotite-rich gneiss, quartzite and schist, with local granitic and pegmatitic intrusions. Axion holds an option to acquire a 100-per-cent interest in the property.

Qualified person

The technical information in this release has been reviewed and approved by Afzaal Pirzada, PGeo, a consultant to the company and a qualified person under National Instrument 43-101.

About Axion Minerals Corp.

Axion Minerals is engaged in the business of mineral exploration and the acquisition of mineral property assets in Canada. Its objective is to locate and develop economic mineral properties of merit and to conduct its exploration program on the Cranberry Creek REE property, which comprises three contiguous mineral claims covering approximately 2,673.19 hectares in the Kamloops mining division in British Columbia.

We seek Safe Harbor.