Mr. Julian Treger reports

LAC JEANNINE MINE TAILINGS RECLAMATION AND RESTORATION PROJECT PRODUCES HIGH-PURITY 67% FET IRON CONCENTRATE

Recent metallurgical testwork for Cotec Holdings Corp.'s Lac Jeannine mine tailings reclamation and restoration project has proven the ability of the project to produce a high-purity iron concentrate grading in excess of 67 per cent FeT (iron-titanium) and low in impurities. The 67 per cent FeT concentrate represents an important technical milestone that supports the project's positioning as a high-purity iron project aligned with Quebec's critical and strategic minerals framework and Canada's Critical Minerals List, subject to completion of the continuing feasibility study for the project.

To be considered in the list of Quebec's critical and strategic minerals as high-purity iron, iron concentrate must contain at least 67 per cent iron and be low in impurities. Similarly, Canada's Critical Minerals List was updated in 2024 to include high-purity iron in its list of critical minerals.

Julian Treger, chief executive officer of Cotec, commented: "The 67 per cent FeT concientrate is another major milestone for the project. It validates the quality of the resource, the effectiveness of our processing strategy and our vision of transforming a historic environmental liability into a strategic asset capable of supporting the global transition to lower-carbon steel production."

The 2026 mineral resource estimate and preliminary economic assessment (the project PEA) demonstrated the project's economic potential and confirmed its ability to produce a high-purity iron concentrate grading approximately 66.8 per cent Fe. Subsequent engineering and metallurgical optimization programs through BBA have now validated pathways to producing a 67 per cent FeT concentrate, low in silica and alumina and other deleterious elements.

Recent metallurgical testwork conducted at Corem using bulk sample material (collected in 2023) confirmed the production of high-purity iron concentrate, in excess of 67 per cent FeT. This testwork is part of the continuing feasibility study, which remains subject to completion and disclosure in accordance with National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. Achieving this grade of concentrate is a critical milestone that significantly enhances the project's strategic importance. As global steel producers continue to seek higher-grade feedstocks capable of reducing carbon emissions and improving blast furnace and DRI efficiencies, the confirmed concentrate quality supports the project's potential to align with the technical requirements supporting the industry's transition to lower-carbon steel production methods.

With feasibility work continuing, environmental baseline studies underway and engagement progressing with indigenous communities and government stakeholders, the project is steadily advancing toward its next development phase. The project PEA indicates an after-tax net present value of $91.9-million (U.S.) and an internal rate of return of 29.6 per cent over a projected 15-year mine life, with additional upside from further resource expansion and process optimization.

The Lac Jeannine mine tailings reclamation and restoration project

The Lac Jeannine property comprises a contiguous block of 31 mineral claims covering an aggregate of 1,649.34 hectares (ha) in the Caniapiscau regional county municipality (RCM) of the Cote-Nord region of Eastern Quebec, approximately eight kilometres (km) southeast of the abandoned town-site of Gagnon and 290 km north of the city of Baie-Comeau. The property is located on the traditional territory of the Innu of Pessamit.

The project encompasses the former Lac Jeannine open pit mine, from which approximately 260 million long tons of ore at 33 per cent iron, in mainly specular hematite form, was extracted between 1961 to 1976. The property also covers the tailings storage facility (TSF), the area where the tailings from the on-site ore concentrator were deposited but not reclaimed. In 1984, the Lac Jeannine mining and processing facilities were shut down.

The Lac Jeannine mine site is identified by Quebec's Ministry of Natural Resources and Forests (MRNF) as the largest abandoned mining site under government responsibility. Cotec's focus is on the tailing's material, planned to be reprocessed for residual iron, and rehabilitate the TSF to as close to its natural state as possible.

This press release is based on metallurgical investigations and project review activities conducted by BBA Inc. in support of the project as disclosed by Cotec and should be read in conjunction with the project PEA.

The disclosure of the scientific and technical information contained in this press release has been reviewed and approved by Catherine Pelletier, PEng, a qualified person as defined by National Instrument 43-101. Ms. Pelletier is a member of the Ordre des ingenieurs du Quebec, is independent of the company and is responsible for the technical information disclosed herein.

About Cotec Holdings Corp.

Cotec is redefining the future of resource extraction and recycling. Focused on rare-earth magnets and strategic materials, Cotec integrates breakthrough technologies with strategic assets to unlock secure, sustainable and low-cost supply chains.

Cotec's mission is clear: accelerate the energy transition while strengthening strategic mineral supply chains for the countries the company operates in. By investing in and deploying disruptive technologies, the company delivers capital-efficient, scalable solutions that transform marginal assets, tailings, waste streams and recycled products into high-value critical minerals.

From its HyproMag USA magnet recycling joint venture in Texas, to iron tailings reprocessing and reclamation in Quebec, to next-generation copper and iron solutions backed by global majors, Cotec is building a diversified portfolio with long-term growth, rapid cash flow potential and high barriers to entry. The result is a differentiated platform at the intersection of technology, sustainability and strategic materials.

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