Toronto, Ontario--(Newsfile Corp. - October 30, 2026) - Eric Sprott announces that, on October 29, 2026, 4,166,666 common share purchase warrants (Warrants) of Electric Metals (USA) Limited., held by 2176423 Ontario Ltd., a corporation beneficially owned by him, expired unexercised. Prior to such expiry, Mr. Sprott beneficially owned and controlled 17,727,272 Shares and 5,833,332 Warrants representing approximately 8.8% of the outstanding Shares on a non-diluted basis and approximately 11.3% on a partially diluted basis assuming the exercise of such Warrants.

As a result of the expiry of the Warrants, Mr. Sprott now beneficially owns 17,727,272 Shares and 1,666,666 Warrants representing approximately 8.8% of the outstanding Shares on a non-diluted basis and approximately 9.5% on a partially diluted basis assuming the exercise of such Warrants. The Warrant expiry resulted in an ownership decrease, on a partially diluted basis, of approximately 1.9% since the date of the last filing of an Early Warning Report and brings total holdings to under 10% on a partially diluted basis. As a result, Mr. Sprott and 2176423 Ontario Ltd., ceased to be insiders of Electric Metals (USA).

The securities are held for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

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