Mr. Steve Roebuck reports

HIGH TIDE RESOURCES COMMENCES DRILLING AT THE LABRADOR WEST IRON PROJECT WITH TWO RIGS

Drilling has commenced at High Tide Resources Corp.'s Labrador West iron project near Labrador City, Nfld. Mobilization is complete and two drills are now turning as part of the company's 2026 field program.

Steve Roebuck, president and chief executive officer of High Tide, commented: "Launching this year's drilling program marks another important milestone for the Labrador West iron project. With two drills active on site, we are advancing our technical understanding at an accelerated pace. Drill core from the first holes is already demonstrating the strength of the system and the viability of resource growth, and we look forward to integrating new geological and analytical data as the program progresses. Each step we take continues to build value and move the project toward its long-term development potential."

Drilling program now under way

The initial phase of the 2026 program is focused on resource expansion toward the north and northeast, where previous work has outlined strong potential for continued iron-ore mineralization. This work is designed to support future resource modelling and refine geological continuity across the target corridor.

Progress to date includes:

• Completion of the first two drill holes;
• Planned holes R-02 (26LB0067) and R-05 (26LB0068);
• Visual inspection of drill core confirming broad intervals of magnetite and hematite iron oxide mineralization, consistent with the project's established mineralized trends.
  • Both holes were extended beyond their planned depth.
• Samples from the first hole have been logged, split and shipped for assay, with results expected to guide continuing targeting and program adjustments.

Core logging and sampling are continuing, with additional shipments to the laboratory scheduled as drilling advances.

Complementary technical work advancing

In parallel with drilling, High Tide continues to progress several key workstreams that support the project's long-term development strategy:

• Metallurgical optimization to refine concentrate quality and processing parameters targeting the production of direct reduction (DR) quality concentrate and a DR quality iron ore pellet;
• Environmental data collection to support future regulatory submissions;
• Engineering and economic analysis, which will integrate new drilling results as they become available.

These activities collectively strengthen the technical foundation of the Labrador West iron project and support the company's commitment to responsible, collaborative and value-focused development.

The company wishes to thank the Department of Mines and Energy, and Department of Forestry, Agriculture, and Lands, government of Newfoundland and Labrador, the indigenous groups and community stakeholders involved for their timely approval of the company's exploration permit, which will enable the company to advance the Labrador West iron ore project responsibly and collaboratively.

About High Tide Resources Corp.

High Tide is focused on and committed to the development of mineral projects critical to infrastructure development using industry best practices combined with a strong social licence from local communities. High Tide owns a 100-per-cent interest in the Labrador West iron project, which hosts a National Instrument 43-101 inferred iron resource of 655 Mt (million tonnes) at 28.84 per cent Fe and is located adjacent to IOCC's Carol Lake mine in Labrador City, Nfld. This resource is exposed at surface and was pit constrained for an open-pit mining scenario. The technical report was filed on SEDAR+ on April 6, 2023, and was authored by Ryan Kressall, MSc, PGeo, Matthew Herrington, MSc, PGeo, Catharine Pelletier, PEng, and Jeffrey Cassoff, PEng.

The company also owns a 100-per-cent interest in the Lac Pegma copper-nickel-cobalt deposit located 50 kilometres southeast of Fermont, Que.

Further details on the company, including a NI 43-101 technical report on the Labrador West iron property can be found on the company's website.

Qualified person

The technical information contained in this news release has been approved by Steve Roebuck, PGeo, director, president and chief executive officer of High Tide, who is a qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

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