Mr. Jonathan Egilo reports

AXO METALS RECEIVES APPROVAL TO TRADE ON THE OTCQB VENTURE MARKET UNDER THE SYMBOL AXOCF

Axo Metals Corp.'s common shares have been approved to trade on the OTCQB Venture Market in the United States, beginning Oct. 21, 2026, under the symbol AXOCF. The company's common shares will continue to trade on the TSX Venture Exchange under the symbol AXO.

"We look forward to broadening our investor base and engaging with U.S. investors as we advance our flagship San Antonio project," said Jonathan Egilo, president and chief executive officer.

In connection with the approval to trade on the OTCQB, the common shares of Axo Metals have also been made eligible for electronic clearing and settlement in the United States through The Depository Trust Company (DTC). DTC manages the electronic clearing and settlement of securities of publicly traded companies. This electronic method of clearing securities through DTC speeds up the receipt of stock and cash, and thus generally accelerates the settlement process for brokers and investors.

Trading on the OTCQB is expected to provide Axo Metals with improved access to a greater base of retail and institutional investors in the United States.

About Axo Metals Corp.

Axo Metals is a Canadian mineral exploration company engaged in the exploration and development of mineral properties in Mexico. The company holds two projects. The San Antonio project is located in the state of Sonora and is in advanced development. Total resources at San Antonio stand at 576,000 ounces (oz) gold (Au) and 1.37 million oz silver (Ag) grading 1.20 grams per tonne (g/t) Au and 2.9 g/t Ag in the indicated category, with 544,000 oz Au and 1.76 million oz Ag grading 1.02 g/t Au and 3.3 g/t Ag in the inferred category across all deposit types (oxide, transition and sulphide). Axo's second project is the La Huerta property, a new copper discovery in Jalisco, Mexico. Initial exploration has yielded high-grade copper both at surface through sampling programs and at depth through initial drilling.

We seek Safe Harbor.