Mr. Eric Roth reports

CAPELLA INITIATES MAIDEN DIAMOND DRILL PROGRAM AT THE KILLERO GOLD-COPPER PROJECT, NORTHERN FINLAND

The commencement of diamond drilling at Capella Minerals Ltd.'s Killero gold-copper project in the Central Lapland greenstone belt of northern Finland is imminent. The Killero project is a former Anglo American PLC project that was defined by significant gold-copper base-of-till (BoT) anomalies but never drill tested. This current drill program will focus on the Killero E gold-copper target and is fully financed as it forms part of the Tumad definitive agreement as announced on Sept. 2, 2025.

Highlights:

• The company's maiden diamond drilling program at the Killero E gold-copper target in northern Finland is now under way. This first-pass drill program is expected to consist of an initial 11 holes/2,200 metres (m) of diamond drilling and will provide an initial test of the approximately one-kilometre (km) strike extent of the Killero E anomaly.
• The Killero E target is part of a former Anglo American project that was defined by significant gold-copper BoT anomalies (with maximum BoT values up to 0.59 per cent copper (Cu) and 145 parts er billion (ppb) gold (Au), both of which are considered to be exceptional for the Central Lapland greenstone belt). Capella subsequently completed a high-resolution drone magnetic survey over the Killero area, which resulted in the definition of a clear northeast-trending structural corridor that is broadly associated with the BoT gold-copper anomaly.
• Capella is also evaluating concurrent BoT drilling at the nearby Jolhikko and Seisunselka targets. Both Jolhikko and Seisunselka are interpreted by the company to display geological features typical of Precambrian orogenic gold deposits, with BoT drilling now required to determine the distribution of precious metals within these areas.

The company expects a temporary shutdown of drilling to occur between Dec. 22 and Jan. 2 for the holiday season, with drilling then expected to be reinitiated on Jan. 3, 2026.

Eric Roth, Capella's president and chief executive officer, commented: "I am extremely pleased to be announcing the commencement of core drilling at our Killero E gold-copper target in northern Finland. The Central Lapland greenstone belt contains some of the most prospective geology globally for the discovery of Precambrian orogenic gold and copper deposits, including the recent 3.5-million-ounce oz Au Ikkari discovery (1), which was first identified from a single base-of-till sample with 200 ppb Au. I sincerely look forward to keeping all stakeholders updated as we move forward with drilling at Killero E."

(1) probable mineral reserve of 52 million tonnes at 2.1 grams per tonne (g/t) Au: Rupert Resources prefeasibility study 2025.

Capella acquired its Central Lapland greenstone belt project interests -- including at Killero -- from Australian Securities Exchange-listed Cullen Resources Ltd. through an earn-in agreement that was announced on Aug. 24, 2021. Capella currently owns an 80-per-cent interest in the Killero project and the project now forms part of the Sept. 2, 2025, Tumad earn-in agreement.

Qualified persons and disclosure statement

The technical information in this news release relating to the Killero gold-copper project has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and approved by Mr. Roth, who is the company's president and CEO, a director, and a qualified person under NI 43-101. Mr. Roth holds a PhD in economic geology from the University of Western Australia, is a fellow of the Australian Institute of Mining and Metallurgy (AusIMM), and is a fellow of the Society of Economic Geologists (SEG). Mr. Roth has 35 years of experience in international minerals exploration and mining project evaluation.

About Capella Minerals Ltd.

Capella is a Canadian exploration and development company with a focus on generating gold-copper projects globally.

Capella announced on Sept. 2, 2025, the signing of a definitive agreement with Turkish mining company, Tumad Madencilik Sanayi Ve Ticaret A.S., for a staged earn-in on the company's portfolio of precious and base metal projects in Scandinavia. Tumad's minimum year 1 investment commitment includes 12,000 m of diamond drilling on the company's gold-copper projects in the Central Lapland greenstone belt of northern Finland (4,000 m) and copper-cobalt-zinc VMS (volcanogenic massive sulphide) projects in central Norway (8,000 m).

Capella also retains a carried 10-per-cent interest through to production on the Lokken copper-cobalt-zinc VMS project of central Norway through a partnership with Teako Minerals Corp. In addition, Capella holds net smelter return royalties on the Savant gold project in Ontario, Canada (BeMetals Corp.), and the Central Finland lithium projects (Grit Metals Corp.), as a result of the recent divestiture of non-core assets.

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