Mr. Matt Filgate reports

GREENLIGHT METALS FINALIZES BEND DRILL PLAN AND INITIATES PERMITTING ON THE LOBO AND LOBO EAST PROJECTS

Greenlight Metals Inc. has provided an update on its planned exploration activities across its Wisconsin assets. Greenlight's strategic focus is centred on expanding known mineral resources at its Bend project and advancing new discoveries within the Penokean volcanic belt. These efforts align with the company's broader objective to strengthen domestic critical mineral supply chains and reduce the United States' dependence on foreign sources.

Highlights:

• Bend project phase 1 drilling: 2,300-metre drill program across eight holes targeting eastern margin of known deposit;
• Historic high-grade results: previous drilling at Bend returned 67.69 metres grading 1.01 per cent copper and 0.99 gram per tonne gold, including 27.6 metres at 2.40 per cent Cu and 1.43 g/t Au;
• Bend phase 2 expansion: planning up to 5,250 metres of drilling pending federal permit approvals, targeting resource confirmation and strike extensions;
• Lobo and Lobo East project advancement: initiating permitting for high-grade zinc-copper target at Lobo with historic intercepts of 9.4 metres grading 22.89 per cent Zn, 1.41 per cent Cu, 1.84 per cent lead and 1.14 g/t gold, as well as the Lobo East project;
• Strategic first-mover advantage: Greenlight is one of the only active exploration companies in the Penokean volcanic belt, following the departure of major miners including BHP and Rio Tinto resulting from Wisconsin's now-lifted mining moratorium.

Strategic positioning in North America's most prospective volcanogenic massive sulphide belt

Greenlight's Wisconsin assets are strategically positioned within the Penokean volcanic belt, one of North America's most prospective yet underexplored volcanogenic massive sulphide belts. The belt hosts over 15 known VMS deposits and occurrences with base and precious metal mineralization. Greenlight maintains a first-mover advantage as currently one of the only active exploration companies in the belt.

The company's mission is to capitalize on this first-mover advantage to consolidate, secure and drill dominant land positions rich in clean energy metals copper and zinc, as well as gold, that are required to power the green economy transition.

Matt Filgate, president and chief executive officer, commented: "Finalizing our drill strategy for the Bend project and moving forward with permitting for Lobo and Lobo East are exciting milestones for Greenlight. These steps underscore our commitment to systematically advancing our assets within Wisconsin's Penokean volcanic belt. We are keenly focused on executing these upcoming exploration programs, which are designed to expand our understanding of these deposits and progress our efforts to define valuable critical mineral resources."

Bend VMS project -- Wisconsin

The Bend VMS project is an advanced-stage exploration asset located approximately 19 miles north of Medford, Wis. To date, approximately $7.5-million (U.S.) has been invested into the project, with 53 diamond drill holes completed totalling 21,812 metres. Greenlight has secured all necessary permits to initiate drilling and anticipates commencing its inaugural drill program in the near term. The coming program will focus on delineating the deposit along a northeast strike, guided by a known VTEM geophysical anomaly.

Historical drilling has yielded significant results, including an intercept of 67.69 metres grading 1.01 per cent Cu and 0.99 g/t Au, which includes a higher-grade interval of 27.6 metres at 2.40 per cent Cu and 1.43 g/t Au (hole B90-06). These results define a near-vertical massive sulphide body hosted within felsic volcanic rocks. A historic, non-compliant resource estimate prepared in 1992 by Jump River Joint Ventures outlined 4.0 million tonnes at 1.74 per cent Cu and 2.44 g/t Au. The deposit has been traced along strike for approximately 335 metres at surface, expanding to at least 549 metres at depth, and has been partially tested to a vertical depth of 610 metres.

The phase 1 drill program for 2025 will include 2,300 metres across eight holes targeting the eastern margin of the deposit located on a leased 40-acre tract of private minerals owned by Soo Line Railroad. Looking ahead, the company plans to conduct further exploration on the adjacent federal portions of the Bend deposit (mineral rights controlled by the Bureau of Land Management) once the pending prospecting permit applications are approved. Phase 2 will consist of up to 5,250 metres, including nine holes (2,500 metres) focused on resource confirmation and six holes (2,750 metres) testing both the eastern extension of the Bend trend and a parallel northern conductor anomaly. The Bend ore equivalent horizon, composed of mineralized argillites with interbedded cherty-hematitic chemical sediments, has been identified along the northeastern flank and can be traced geophysically for at least 1.4 kilometres, representing a target for potential extensions or new deposits.

Lobo and Lobo East projects -- Wisconsin

The Lobo project represents a high-grade VMS discovery with several mineralized intercepts ranging from depths of 60 to 340 metres. Historical drilling highlights include 9.4 metres grading 22.89 per cent Zn, 1.41 per cent Cu, 1.84 per cent Pb and 1.14 g/t Au (hole LB-3), demonstrating the grade potential of this proximal occurrence to the Crandon deposit. The deposit remains open for expansion both along strike and downdip from known mineralization. Lobo East, an optioned property totalling 476 acres with no modern drilling, hosts two strong geophysical anomalies, with the northern target being drill-ready.

Greenlight has commenced drill targeting activities, and is in the process of finalizing permit applications for Lobo and Lobo East, which are expected to be submitted to the Wisconsin Department of Natural Resources in the coming weeks.

Reef gold project -- Wisconsin

The Reef project is located approximately 12 miles east of Wausau and hosts a shear-zone-related gold-copper system. Historical drilling, most recently conducted by Aquila Resources in 2011 and 2012, intersected 65.2 metres grading 2.80 g/t Au and 0.17 per cent Cu (from 80.5 m to 145.73 m in hole R12-38), including 8.9 metres at 13.14 g/t Au and 0.44 per cent Cu. Additional high-grade intercepts include 14.8 metres grading 14.41 g/t Au and 0.30 per cent Cu (hole R11-11) from 40.6 m to 55.4 m, including 9.3 metres at 21.3 g/t Au and 0.33 per cent. Gold mineralization at Reef occurs in eight structurally stacked, shallow zones from surface to depths of approximately 150 metres, and remains open along strike and at depth.

Greenlight intends to initiate the permitting process for a drill program in third quarter 2025, with plans to commence drilling in first quarter 2026. The objective will be to test the extension of mineralization along strike and downdip.

Qualified person statement

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101, and reviewed and approved by Thomas Quigley, MSc, CPG-11962, exploration director of the company, a qualified person as defined by NI 43-101.

About Greenlight Metals Inc.

The principal business of Greenlight is the exploration and development of mineral properties in Wisconsin, Nevada and Arizona. The material properties of Greenlight are the Bend property, the Reef property and the Kalium Canyon property. In addition, the company controls two additional prospective properties in Wisconsin: Lobo and Lobo East. Greenlight has also secured rights to the Swede anomaly located on the Southern greenstone belt. Outside of Wisconsin, the company controls rights to the Kalium Canyon property, located in the Walker Lane district of Nevada. The company also holds an option on the Cerro Colorado property located 70 kilometres southwest of Tucson, Ariz., along the Laramide porphyry copper belt.

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