Mr. Mario Pezzente reports

GERMANIUM MINING CORP. PROVIDES CORPORATE UPDATE AND COMMENTARY ON GERMANIUM PRICE INCREASE OF OVER 108% SINCE EARLY 2025

Germanium Mining Corp. has provided a corporate update leading into an active 2026 exploration season. The company is gearing up for its largest exploration program to date and has assembled and secured its exploration team for a fully financed first-phase work program at its 100-per-cent-owned Lac Du Km 35 germanium project, located in the Chibougamau region of Quebec, Canada.

This coming 2026 work season will be the largest financed modern exploration on the property, providing opportunities for additional discoveries. An expanded sampling program will focus on outcrops and high-priority targets with assay results anticipated to follow, with the company's application for drilling permits quickly thereafter. The first drilling campaign is anticipated to follow in early winter.

2026 germanium price and performance

Germanium prices are increasingly influenced by the tension between rising strategic demand and a market constrained by export controls and tight global supply.

At today's price of $8,597.50 (U.S.) per kilogram, germanium prices are up 47.88 per cent year to date (2026), up 108.64 per cent since the start of 2025, up 202.79 per cent since the start of 2024 and up 320.40 per cent since the start of 2020, when the germanium price stood at $2,045.09 per kilogram.

This reflects germanium's importance in fibre optics, infrared technology, semiconductors and defence-related applications, combined with a market where supply remains concentrated and access outside China can tighten quickly.

Key price drivers for germanium:

• Expanding applications: growing use in fibre optics, infrared systems and advanced semiconductor applications;
• Supply concentration: China controls 93 per cent of global production, with increasing export restrictions;
• Strategic designation: classification as critical metal by major economies, driving stockpiling;
• Irreplaceability: few viable substitutes exist for germanium's unique properties in key applications.

About the 2026 exploration program

The first phase of diamond drilling will be directed to reach the discovery-hole stage. The campaign is planned to consist of six to 10 holes for a total of approximately 2,500 metres, which is planned to be drilled early in the winter of 2027.

The exact drilling length will be dictated by the depth of the electromagnetic anomalies, which will be accurately outlined by the new survey and backed up by outcrop mapping and sampling. The outcrop mapping will provide valuable insights into what direction and dip that germanium mineralization may extend.

At near 0.02 per cent (186 parts per million) germanium at the Laganiere showing, the company aims to increase germanium grades at least to 0.04 per cent (350 to 400 ppm) in average for an intersection at least 10 metres wide.

Anticipated 2026-2027 exploration timetable:

• May, 2026 -- airborne survey results, including interpretation;
• June/July, 2026 -- outcrop mapping and sampling program (as soon as the snow melts);
• September, 2026 -- outcrop sampling assay results;
• October/December, 2026 -- drill permitting;
• Diamond drilling program;
• Diamond drilling assay results anticipated.

Mario Pezzente, chief executive officer, commented: "We are excited to commence this multistage, fully funded 2026 exploration program with a goal of making new germanium discoveries and obtaining a significantly increased understanding of this highly prospective critical mineral project. Germanium plays a vital role in advanced technologies spanning defence, telecommunications and next-generation computing. Germanium Mining Corp. is focused on unlocking strategic resources in stable jurisdictions to potentially contribute to a more secure and resilient North American supply chain."

Description of the Lac Du Km 35 property regional setting

The property comprises the prominent Faribault shear zone (FSZ), oriented east-southeast and located toward the eastern part of the property. The FSZ dips to the south-southwest and ends to the Grenville Front, which extends southwest-northeast for several hundreds of kilometres. The FSZ is a key structural feature that may connect with other permeable zones at depth, acting as a preferential conduit for hydrothermal fluids.

Discovered by government geologists in 1998 and never followed up, the Laganiere germanium showing consists of a peridotite outcrop within the Laganiere gneissic complex that comprises amphibolites and hornblende and biotite gneisses. The Laganiere showing returned a value of 0.02 per cent (186 ppm) germanium and is currently the highest germanium value ever reported from an outcrop in the province of Quebec.

The Laganiere germanium showing lies beside the main lumber road and immediately adjacent to the south to a cluster of electromagnetic anomalies of roughly 400 metres by 400 metres in size that were never tested. The Laganiere germanium showing is also 450 metres northeast of the FSZ, 800 metres from the southern margin of the Duberger felsic pluton and approximately two kilometres to the west of the Grenville Front. The area between the FSZ and the Laganiere germanium showing, including the never-tested cluster of electromagnetic anomalies, will be the main focus of Germanium Mining.

New airborne magnetic and electromagnetic survey

Magnetic and electromagnetic data are currently available from Quebec government sources where a cluster of electromagnetic anomalies are present in the vicinity of the main Laganiere germanium showing. However, all these magnetic and electromagnetic data were acquired nearly 50 years ago in 1978. At the time, line spacing and elevation from the surface were respectively 200 and 120 metres.

The company intends to carry out a new, modern, detailed and more accurate airborne survey that will cover the whole Lac Du Km 35 property. It is expected that the survey will be flown as weather allows in April, 2026. For this airborne survey, line spacing not exceeding 75 metres and elevation from surface below 30 metres are planned. These modern data will help to confirm existing anomalies and, possibly, outline new ones that will be verified on the ground in the coming summer field season.

About germanium

Germanium is a hard, greyish and brittle metalloid. Germanium has many growing applications in electronics and solar, fibre optics, and infrared optics for civil and military uses. Germanium is in the list of critical metals in Canada, the United States and the European Union.

Since Dec. 3, 2024, China, the largest producer of refined germanium, has banned germanium exports to the United States. Germanium is not an openly traded commodity and recent spot prices have germanium over $8,600 (U.S.) per kilogram.

The company cautions that the geological information provided in this news release is of historical nature and mineralization may not be representative of mineralization on the Lac Du Km 35 property.

Qualified person

Benoit Moreau, PEng, a qualified person as defined by National Instrument 43-101 and vice-president of exploration for Germanium Mining, has prepared and is responsible for the technical information contained in this news release.

About Germanium Mining Corp.

Germanium Mining is a publicly traded mineral exploration company focused on the exploration and advancement of discovery-stage mineral properties in top-tier mining jurisdictions across North America.

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