Key Highlights

• Apollo Hits Again: APL26-002 intersected 45 metres of elevated radioactivity from ~40-85 metres depth, 100 metres along strike from the discovery hole. Alteration and sporadic radioactivity continue to ~240 metres.

• Closer to Surface: The main radioactive interval begins at ~40 metres depth, shallower than in the discovery hole, showing the system extends toward surface.

• Same Fault, Same Signature as Fox: APL26-002 hit the same altered breccias and Andrew Lake Fault structure seen at Fox and extending onto Orano's Kiggavik Project.

• District Scale: Fox and Apollo sit 10 kilometres apart along ~17 kilometres of the Andrew Lake Fault on Geiger ground. Only one of Apollo's three gravity anomalies has been drilled, with 50+ targets across Aberdeen.

• Key Aspect: Apollo hit again, 100 metres away and closer to surface. It now joins Fox as Geiger's second growing discovery on the Kiggavik fault trend.

• Geiger's objective is to prove that the Thelon is the premier uranium basin. It is less explored, shallower and cheaper to test target-by-target. Orano's Kiggavik asset has already validated the basin, while Geiger controls a true district-scale position with substantial discovery upside still ahead.

Toronto, Ontario--(Newsfile Corp. - October 5, 2026) - Geiger Energy Corp. (TSXV: BEEP) (OTCQB: BSENF) ("Geiger" or the "Company") is pleased to announce the follow-up hole to its grassroots Apollo uranium discovery at the Aberdeen Project in the Thelon Basin, Nunavut (Figure 1, Figure 2). The second hole at Apollo, a 100-metre step-out (Figure 7) to the southwest, hit again, intersecting 45 metres of elevated radioactivity starting at approximately 40 metres depth, shallower than in the discovery hole (see news release dated September 14, 2026).

"Our second hole at Apollo did exactly what we needed: it hit again, it hit shallower, and it showed the system continues," said Rebecca Hunter, President and CEO of Geiger Energy. "Fox and Apollo sit ten kilometres apart on the same fault that extends onto Orano's Kiggavik Project, and we have drilled only a small piece of it. We are no longer looking at isolated drill holes - we are beginning to see the outline of a new uranium district."

Apollo now joins Fox, where the third hole returned high-grade radioactivity (see news release dated September 21, 2026), as two growing discoveries ten kilometres apart on the Andrew Lake Fault, the structure that extends onto Orano's Kiggavik Project. Both were previously undrilled targets, and both returned uranium mineralization in their first drill holes.

Apollo Hits Again, Closer to Surface

Drill hole APL26-002 intersected one main zone of elevated radioactivity from approximately 40 to 85 m depth (45 m). Readings within this zone largely exceed 70 cps (background is 40-50 cps), with abundant intervals over 100 cps and localized readings of up to 180 cps in drill core (Figure 3, Figure 4 and Figure 5). The downhole probe recorded counts of up to 402 cps¹ (Figure 4), approximately 8x times probe background, in the most broken and clay-altered part of the fault, where core recovery was poor. The strongest radioactivity coincides with the zone of core loss, so the probe captures radioactivity the recovered core does not fully reflect. Sporadic elevated radioactivity and strong alteration continue to approximately 240 m depth. Beyond 240 m, moderate alteration continues to the end of the hole at 313 m.

The strongest radioactivity occurs within intensely clay-altered and hematized, non-cohesive breccias, with sporadic to pervasive bleaching and sooty sulphides. Elevated uranium appears to be associated with weakly disseminated uranium mineralization within the hematized breccias and along clay-hematite altered interfaces. This alteration overprints an older, quartz-stockwork-rich fault zone similar to that observed at Fox and interpreted to form part of the Andrew Lake Fault structure (Figure 6). Follow-up drilling will step into the footwall of the fault to test for the potential continuation and strengthening of the uranium mineralized system. The mineralization systems in the area such as Tatiggaq and Qavvik tend to focus along the NW side of these master NE- to ENE-trending faults.

Andrew Lake Fault: A Fertile Uranium Corridor

Apollo and Fox occur along the Andrew Lake Fault, the major structural corridor that extends from Orano's Kiggavik area onto Geiger's Aberdeen Project. The Kiggavik-area deposits collectively contain a historical estimate of approximately 127.3 million pounds U₃O₈ in the Indicated category and approximately 5.4 million pounds U₃O₈ in the Inferred category.²

The Andrew Lake Fault extends approximately 17 kilometres across Aberdeen through Fox and Apollo. Both discoveries are characterized by strong structural disruption, clay and hematite alteration, bleaching and uranium mineralization associated with reactivated fault and breccia systems.

A Proven Model and Next Steps

The success at Fox and Apollo provides Geiger with an important validation of its exploration model at Aberdeen. Both targets were generated using the same combination of structural interpretation, gravity, magnetic and geological data, and both produced uranium discoveries in their first drill holes.

Geiger's next phase of exploration will define the size of the Apollo and Fox systems, including drilling into the footwall of the fault at Apollo, while testing the two undrilled Apollo gravity anomalies and additional targets along the Andrew Lake Fault and across Aberdeen. Assay results from Fox and Apollo are expected later in the year, and the next drill program is planned for early June 2027.

Figure 1: Aberdeen Project map showing the Apollo and Fox discoveries, the Andrew Lake Fault Trend, and Orano's Kiggavik-area deposits along strike.

Figure 2: The Andrew Lake Fault Trend over total-field magnetics, showing the structural corridor extending from the Kiggavik area across Geiger's ground, the three Apollo gravity anomalies and additional untested anomalies along trend. APL26-002 tested 100 m SW of the first drill hole.

Figure 3: Core photograph of the strongest mineralized interval in drill hole APL26-002, starting at approximately 40 metres depth. The strongest mineralization is within the red hematite-altered zones and is associated with abundant lost core due to the fault-impacted and clay-altered core.

Figure 4: Cross section of APL26-002 showing the main zone of elevated radioactivity and uranium mineralization (~40 - 85 m). Red histogram shows the radiometric counts recorded from the gamma probe. The 402 cps high corresponds to the 170 cps recorded in the drill core.

Figure 5: Close-up core photograph of strong hematite and bleaching with radiometric counts up to 110 cps.

Figure 6: Core photograph showing additional areas of elevated uranium in much more clay altered and bleached zones overprinting older quartz stockwork-rich fault rock, interpreted to be the damage zone of Andrew Lake Fault. The main structural conduit that is hosting uranium mineralization along this trend.

Figure 7: Plan view of Apollo showing drill holes APL26-001 and APL26-002 on a residual gravity image overlay. The drill holes are separated by 100 m along strike.

¹ Radioactivity reported in this release is presented in counts per second ("cps") as measured from both a downhole radiometric probe and a scintillometer on drill core. All downhole radiometric logging was conducted using a Mount Sopris 2GHF-1000 downhole triple-gamma probe (SN-3790) connected to a Mount Sopris MATRIX Logger box (731). The Logger box and probe were then attached to a Mount Sopris 4MXC 500m 1/8" logging winch (SN-4244, 4323) to conduct the downhole radiometric surveys. Mount Sopris' 2GHF-1000 downhole triple-gamma probe utilizes a sodium iodine (Nal) crystal to detect changes in natural radioactivity for concentrations of uranium, thorium and potassium from gamma rays emitted from the rock formations. Not only does the probe use a Nal crystal, it also contains two Geiger Mueller tubes which allows the instrument to conduct precise Natural Gamma measurements that range from 0.1% to 20% concentrations of U3O8 in radioactive zones. Geiger Energy Corp submits its 500 m and 1,000 m Mount Sopris winches and downhole gamma probes to alphaNUCLEAR in Saskatoon, Saskatchewan, for comprehensive servicing and calibration before the field season commences. Maintenance on the winches includes full cable and head inspections, re-heading, and re-spooling to ensure optimal mechanical reliability during field operations. Each gamma probe is tested against a known radiation standard to verify accuracy within strict specifications, undergoing full recalibration whenever necessary to guarantee reliable, high-precision data acquisition. Drill core is measured using a handheld GammaGuard CT-007 scintillometer. Prior to each field program, all of Geiger Energy Corp CT-007-M scintillometers are sent to Environmental Instruments Canada Inc. in Saskatoon, Saskatchewan, for professional calibration and servicing to guarantee sensor accuracy and compliance with industry standards. During active field operations, individual CT-007-M units are routinely cross-tested against one another on defined sections of drill core to identify instrument drift and maintain consistency across operators. Radiation measurements from the handheld CT-007-M scintillometers are systematically correlated with data from our downhole gamma probe to validate readings.

Down hole radiometric probe and scintillometer readings provide a qualitative indication of the presence of radioactive minerals only and are not a substitute for, and may not correlate with, uranium grades determined by geochemical assay.

² Historical Kiggavik Mineral Resource Estimate: Source: Orano, 2025 Annual Activity Report, published 2026. Orano reports for the Kiggavik Project a historical estimate of 10.418 million tonnes grading 0.47% U (approximately 0.55% U₃O₈), containing 48,953 tonnes U (approximately 127.3 million pounds U₃O₈) in the Indicated category, and 0.733 million tonnes grading 0.28% U (approximately 0.33% U₃O₈), containing 2,059 tonnes U (approximately 5.4 million pounds U₃O₈) in the Inferred category.

The historical estimate is considered relevant to Geiger because the Kiggavik deposits occur along the same regional structural trend as the targets discussed in this news release and provide geological context for exploration at Geiger's Aberdeen Project. Geiger considers the historical estimate sufficiently reliable for this limited contextual purpose because it is reported by Orano, the operator of the Kiggavik Project; however, Geiger has not independently verified the estimate.

The cut-off grades and other assumptions, parameters and methods used to prepare the historical estimate are not known to Geiger. The historical estimate uses the categories "Indicated" and "Inferred"; however, Geiger has not completed sufficient work to determine whether these historical categories are directly comparable to the current CIM Definition Standards for Mineral Resources and Mineral Reserves.

The 2025 Annual Activity Report is the most recent estimate for the Kiggavik Project known to Geiger. To verify the historical estimate as a current mineral resource, a qualified person would need to review and verify the underlying geological, drilling, sampling, analytical and estimation data and assumptions and, if appropriate, prepare a current mineral resource estimate in accordance with NI 43-101 and current CIM Definition Standards.

A qualified person has not completed sufficient work to classify the historical estimate as current mineral resources or mineral reserves, and Geiger is not treating the historical estimate as current mineral resources or mineral reserves.

Mineralization on Orano's Kiggavik Project is not necessarily indicative of mineralization on Geiger's Aberdeen Project.

About Geiger

Geiger controls approximately 338,000 hectares in Saskatchewan's Athabasca Basin and 95,519 hectares in Nunavut's Thelon Basin, two of the world's most prospective uranium districts. The Company's flagship Aberdeen Project (Thelon Basin) hosts the high-grade, basement-hosted Tatiggaq and Qavvik discoveries - both shallow systems open along strike and at depth - together with more than 50 high-priority targets, many showing strong alteration and anomalous uranium from limited historical drilling. In 2026, Geiger made two new grassroots uranium discoveries at Fox and Apollo, both previously untested targets on the Andrew Lake Fault. In the Athabasca Basin, Geiger is advancing the Hook Project, host to the near-surface ACKIO uranium discovery, which comprises at least nine mineralized pods beginning at 28 metres depth and remains open in multiple directions.

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Qualified Person Statement

The technical information contained in this news release has been reviewed and approved by Rebecca Hunter, Ph.D., P.Geo., President & CEO of Geiger Energy Corp., a Qualified Person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.

Cautionary Statement

Certain information in this news release is considered forward-looking within the meaning of certain securities laws and is subject to important risks, uncertainties and assumptions. This forward-looking information includes, among other things, information with respect to Geiger's beliefs, plans, expectations, anticipations, estimates and intentions. The words "may", "could", "should", "would", "suspect", "outlook", "believe", "anticipate", "estimate", "expect", "intend", "plan", "target" and similar words and expressions are used to identify forward-looking information. The forward-looking information in this news release describes Geiger's expectations as of the date of this news release.

The results or events anticipated or predicted in such forward-looking information may differ materially from actual results or events. Material factors which could cause actual results or events to differ materially from such forward-looking information include, among others, risks arising from general economic conditions; adverse industry events; inability to realize anticipated synergies; future legislative and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; income tax and regulatory matters; the ability of Geiger to implement its business strategies; competition; currency and interest rate fluctuations and other risks. Readers are cautioned that the foregoing list is not exhaustive.

Geiger cautions that the foregoing list of material factors is not exhaustive. When relying on forward-looking information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Geiger has assumed a certain progression, which may not be realized. It has also assumed that the material factors referred to in the previous paragraph will not cause such forward-looking information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF GEIGER AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE GEIGER MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/317318