Mr. Aidan Bishop reports

GREAT PLAINS METALS CORP - EVERTON PROJECT UPDATE

Great Plains Metals Corp. has made progress at the Everton project and has completed conditions precedent regarding the 100-per-cent acquisition of the Everton project that was announced on March 13, 2025.

Highlights:

• Great Plains completes the 100-per-cent acquisition of the Everton project;
• Land access agreement signed;
• Work program under way and drilling planned for first quarter 2026;
• Potential mineralization hosted in an undrilled porphyry system.

Following completion of the conditions precedent, a process has commenced to transfer the exploration licence 00834 (EL00834) to Great Plains wholly owned subsidiary GPS Everton Pty. Ltd.

The Everton project

The Everton project is located in northern Victoria, Australia, and contains the historical molybdenum mine that was a small-surface open-cut and shallow underground mine between 1917 and 1944, and produced approximately 306 tons of molybdenum concentrate at a mill grade of 1.4 per cent molybdenum disulphide from two steeply plunging circular pipelike orebodies. Production was limited to a maximum depth of 45 metres.

Accessory minerals included finely disseminated pyrite and copper in the form of azurite and malachite from a pegmatite dike reportedly present north of the historic mine. Recent detailed geological mapping of the old workings identified previously unrecognized cupola textures, unidirectional solidification textures indicating mineralization is hosted in the uppermost part of an undrilled porphyry molybdenum plus or minus copper system. USTs are a key indicator in identifying pencil porphyry mineralization.

The molybdenum deposits in northern Victoria, Australia, are associated with late-stage, postorogenic, I-type granitic intrusions within the Palaeozoic Lachlan fold belt. This magmatism and associated mineralization are linked to the early Devonian period and, in some cases, the onset of the Kanimblan orogeny.

Everton project work program

A land access agreement has been signed that will allow for exploration work to take place on the ground, including drilling. Additional geological mapping is planned to further refine targets for shallow drilling that is planned for the first quarter of 2026 to test the potential for pencil porphyry-related molybdenum and copper mineralization.

Molybdenum

Molybdenum is considered a critical mineral by several countries, including the United States and Canada. In December, 2023, Australia added molybdenum to its list of critical minerals.

Molybdenum is essential for modern technologies, economies and national security. It is used in steel alloys to improve strength and resistance to corrosion and heat, and to reduce brittleness.

The key market drivers are the demand from the steel industry, growing adoption of chemical and electrical industries, and expansion of aerospace and defence applications. Molybdenum is also an essential component of radiation shielding materials used in space travel including by Space Exploration Technologies Corp. (SpaceX).

Aidan Bishop, chief executive officer, commented: "Signing the land access agreement at Everton is a significant step forward for GPS that paves the way for our continued work program. The identification of previously unrecognized cupola textures at the historic Everton mine, as well as the occurrence of USTs, is potentially exciting and presents GPS with clear high-value drill targets for the first quarter of 2026."

The company has issued two million shares to Great Pacific Gold Corp. The consideration shares have certain restrictions including that no shares may be disposed of for a period of six months following issuance.

Qualified person

The scientific and technical data contained in this news release has been reviewed and approved by Douglas J. Kirwin, who serves as the qualified person under the definition of National Instrument 43-101.

We seek Safe Harbor.