Mr. Deepak Varshney of Core Critical Metals reports

CORE CRITICAL METALS CORP. ANNOUNCES CLOSING OF THE OPTION FOR THE LUCKY MIKE SILVER-COPPER-TUNGSTEN PROJECT

Core Critical Metals Corp. has closed the option to acquire the Lucky Mike silver-copper-tungsten property pursuant to an option agreement dated Feb. 18, 2026, as amended between the company and First Atlantic Nickel Corp. (TSX Venture Exchange: FAN). Pursuant to the option agreement, the company has the right to purchase up to an 80-per-cent interest in the property from First Atlantic.

As previously disclosed, the property consists of 37 claims totalling approximately 7,675 hectares and is an advanced exploration project located roughly equal distance between Kamloops and Merritt, B.C., adjacent to the major Coquihalla Highway near the Surrey Lake summit.

Property highlights

• Prime location in a safe jurisdiction: LMSL is situated in British Columbia's premier copper porphyry and gold mining belt, offering access to established mining infrastructure.
• Strategic proximity to major operations: LMSL is located adjacent to Teck's Highland Valley copper mine (Canada's largest, producing 127,000 tonnes of copper in 2025), on trend with New Gold's New Afton and Copper Mountain mine, enhancing discovery odds in a high-success area.

Teck recently announced its mine life extension plan for Highland Valley, moving the mine's closure date from 2028 out to 2046 with a capital investment of $2.1 to $2.4 billion, making it the largest critical minerals investment in B.C. history.

• Significant historic copper resource: hosts a 73.5-million-tonne historic estimate at 0.27 per cent CuEq (copper equivalent) equating to approximately 402 million pounds of contained copper;
• Strong tungsten potential: in 1943 the Strategic Metals Committee part of the wartime investigation for tungsten drilled 14 diamond drill holes over a 100-metre strike length. Eight holes intersected a weighted average of 0.312 per cent WO3 over an average width of 25 feet;
• Untapped exploration upside: features a seven-kilometre skarn alteration footprint indicating multiple porphyry centres, with AI (artificial intelligence) analysis identifying high-priority, untested targets for potential-grade improvements at depth;
• High-grade intercepts and showings: historic drilling identified 5.4 per cent Cu in samples and 789 metres at 0.16 per cent Cu, plus volcanic breccias up to 0.4 per cent Cu, signalling strong mineralization potential;
• Drill ready and permitted: fully permitted with new targets verified by independent AI, ready for immediate drilling to vector toward porphyry cores;
• Excellent infrastructure access: benefits from a well-developed network of logging roads, proximity to power, water and local labour in the Nicola mining district, just 20 kilometres north of Merritt;
• Experienced management team: led by a skilled group with decades in exploration, finance and operations, including recent porphyry discoveries and successful fundraising for value creation;
• District-scale potential: controls a large 120-plus-square-kilometre land package with cluster-style mineralization, positioned between recent discoveries by Tower Resources and Kodiak Copper.

Transaction details

Pursuant to the option agreement, First Atlantic granted the company an exclusive right to acquire an 80-per-cent interest in the property, subject to an existing NSR (net smelter return) and the additional NSR, by making aggregate payments of cash and common shares in the capital of the company over a three-year period.

The consideration is structured as follows: (i) $150,000 in cash on the closing date of the option agreement (the effective date); (ii) $200,000 in shares, with the share value equal to the higher of (a) 372,439 shares, or (b) volume-weighted average price (VWAP) of the 20 trading days preceding the issuance of the shares prior to the second anniversary of the effective date; and (iii) $300,000 in shares, with the share value equal to the higher of (a) 588,659 shares, or (b) volume-weighted average price (VWAP) of the 20 trading days preceding the issuance of the shares prior to the second anniversary of the effective date prior to the fifth anniversary of the effective date. In order to earn the property interest, the company will further have to incur qualified expenditures in an amount equal to $300,000 on the property prior to the first anniversary date of the effective date; and incur qualified expenditures in an amount equal to $5.7-million on the property prior to the third anniversary of the effective date. Once the initial consideration and initial expenditures have been satisfied, the company shall earn an interest in the property equal to 70 per cent.

The company may earn an additional 10-per-cent interest in the property by incurring expenditures in an amount equal to $10-million prior to the 10th anniversary of the effective date. Following the earning of the additional property interest, First Atlantic Nickel and the company will enter into a joint venture agreement (JV agreement) governing the terms of a joint venture between the parties. Under the terms of the JV agreement, each of First Atlantic Nickel and CCMC will be responsible for their pro rata share of exploration expenditures at the property with CCMC remaining the operator of the property.

In the event that First Atlantic Nickel elects not to contribute its pro rata share, its participating interest shall be diluted. If, as a result of such dilution, First Atlantic Nickel's participating interest is reduced to 10 per cent or less, First Atlantic Nickel shall be deemed to have withdrawn from the JV and its remaining participating interest shall be automatically converted into a 3-per-cent net smelter royalty (the additional NSR) with a 2-per-cent buyback by the company for $7.5-million (the dilution royalty). Upon such conversion, First Atlantic Nickel shall have no further right to participate in the property, nor any obligation to contribute to future expenditures.

Notwithstanding the above, CCMC shall, at its sole cost, finance 100 per cent of all expenditures approved in the annual work program and budget for the property until the delivery of a feasibility study (the carry end date).

First Atlantic Nickel shall not be required to contribute any capital to the JV prior to the carry end date, and its participating interest shall not be subject to dilution during such period.

The option agreement is arm's length. The initial payment, consisting of a cash payment of $150,000 was made April 14, 2026. Any shares issued pursuant to the option agreement are subject to a standard four-month-and-one-day hold period, as required by National Instrument 45-106 -- Prospectus Exemptions and are not subject to any additional escrow or resale restrictions. No finders' fees are payable in connection with the option agreement. The property is currently subject to a 2-per-cent net smelter royalty (the NSR).

Corporate update -- semi-annual financial reporting

The company is also pleased to announce that it has elected to rely on Coordinated Blanket Order 51-933 and move to semi-annual financial reporting.

Coordinated Blanket Order 51-933 allows eligible venture issuers listed on the TSX Venture Exchange to voluntarily move from a quarterly to a semi-annual financial reporting framework. Under the semi-annual financial reporting pilot program, the company will be exempt from filing interim financial reports and related management discussion and analysis (MD&A) for its first and third quarters:

• Interim period: The company will not file an interim report and related MD&A for the three months ended June 30, 2026 (Q1), and the company will not be required to file any interim financial reports and related MD&A for any subsequent quarters ending Dec. 31 (Q3) or June 30 (Q1) in each financial year.
• Continuing reporting: The company will continue to file audited annual financial statements (due within 120 days of its March 31 financial year-end) and six-month interim financial reports (due within 60 days of Sept. 30).

The company confirms it meets the pilot program's eligibility criteria, which include being a venture issuer with annual revenues of less than $10-million and maintaining a clean 12-month continuous disclosure record.

This news release is being filed pursuant to Coordinated Blanket Order 51-933 -- Exemptions to Permit Semi-Annual Reporting for Certain Venture Issuers.

Qualified person

The technical content of this news release has been reviewed and approved by Deepak Varshney, PGeo, chief executive officer and a director of the company, who is a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About Core Critical Metals Corp.

Core Critical Metals is a North American mineral acquisition and exploration company focused on the development of quality critical metal properties that are drill ready with high upside and expansion potential.

We seek Safe Harbor.