Mr. Stephen Goodman reports

BAHIA METALS CORP. COMPLETES INITIAL PUBLIC OFFERING OF $5,750,000, WITH FULL EXERCISE OF OVER-ALLOTMENT OPTION

Bahia Metals Corp. has completed its initial public offering of 11.5 million units of the company at a price of 50 cents per unit, inclusive of the full exercise of the 15-per-cent overallotment option. The gross proceeds from the IPO financing were $5.75-million.

The company's common shares will commence trading on Feb. 12, 2026, on the Canadian Securities Exchange under the ticker symbol BMT.CN.

Each unit of the IPO financing consists of one common share in the authorized share structure of the company and one-half of one common share purchase warrant. Each whole warrant entitles the holder thereof to purchase one common share in the capital of the company at a price of 90 cents per share until Feb. 11, 2029. The warrants are subject to an acceleration right held by the company, such that, in the event that the closing price of the company's shares on the CSE is $1.50 or greater per share for a total of seven trading days within a 20-consecutive-day trading period, all warrants issued in connection with the IPO will expire 30 days following written notice (by news release) provided by the company.

Pursuant to an agency agreement dated Jan. 30, 2026, between Canaccord Genuity Corp. and the company, the agent acted as exclusive agent for the company in connection with the IPO. The company paid cash commission in the amount of $347,958, issued 100,000 common shares of the company and granted non-transferable warrants to purchase up to an aggregate of 795,916 common shares of the company at a price of 50 cents per share until Feb. 11, 2029, subject to the acceleration and a voluntary six-month hold period.

The net proceeds from the IPO will be expended on work programs at the company's Mangueiros nickel sulphide-copper cobalt project located in Bahia state, Brazil, and for general working capital purposes.

Stephen Goodman, chief executive officer, stated: "Bahia Metals has completed the requirements to secure 100 per cent of the project that was initially owned and advanced by investors related to Appian Capital Advisory Ltd. This milestone is a positive step in the company's trajectory towards increasing shareholder value."

The company will be attending PDAC 2026 from March 1 to March 4, and looks forward to meeting with its supporters and the broader mining community. Please e-mail the company to arrange a meeting.

About Bahia Metals Corp.

Bahia Metals is a mining company focused on advancing its Mangueiros project, a nickel sulphide-copper cobalt project located in Bahia state, Brazil.

We seek Safe Harbor.