Mr. Clayton Fisher reports

IDEX METALS ANNOUNCES $7.0 MILLION BROKERED PRIVATE PLACEMENT OFFERING OF SPECIAL WARRANTS

Idex Metals Corp. has entered into an agreement with Clarus Securities Inc. on behalf of a syndicate of agents in connection with a brokered private placement of up to 17.5 million special warrants of the company at a price of 40 cents per special warrant for gross proceeds of up to $7-million.

Each special warrant will entitle the holder thereof to acquire, for no additional consideration, one unit of the company, with each unit being composed of one common share in the capital of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder thereof to acquire one common share at an exercise price of 60 cents per warrant share for a period of 24 months from the date of issuance.

The company has granted the agents an option to offer and sell up to an additional 15 per cent of the number of special warrants issued pursuant to the offering, exercisable at any time up to 48 hours prior to the closing date (as defined herein).

The net proceeds from the offering will be used for exploration and development of the company's Freeze project, including drilling, geophysics and for general working capital purposes.

Chief executive officer Clayton Fisher commented:

"This financing positions Idex to build on the 2025 exploration season at Freeze, where our integrated drilling, geophysics, geochemistry and mapping continued to strengthen our understanding of the broader mineralized system. We are excited to return to the field and drill test the porphyry copper target beneath North Breccia, while also advancing the broader Kismet Corridor and generating new drill targets across the Freeze project. With a growing pipeline of opportunities and increasing confidence in the potential of the project, we believe this financing gives us the flexibility to execute an ambitious 2026 program and continue creating value for shareholders.

Following the closing date, the company will use its commercially reasonable best efforts to prepare and file with the securities regulatory authorities in each of the provinces in which the special warrants are sold and obtain a receipt for, a final short form prospectus qualifying the distribution of the common shares and warrants to be issued upon exercise of the special warrants. In the event that the company has not received a receipt for the final prospectus within nine weeks following the closing date, each unexercised special warrant will thereafter entitle the holder thereof to receive upon the exercise thereof, at no additional consideration, one-and-one-20th (1.05) of a unit (instead of one unit).

All unexercised special warrants will automatically be exercised on the day that is the earlier of (a) the third business day after a receipt is issued for the final prospectus and (b) the date which is four months and a day following the closing date.

The agents will receive an aggregate cash fee equal to 6.0 per cent of the gross proceeds from the offering, including in respect of any exercise of the overallotment option, subject to a reduced fee of 3.0 per cent for up to $3-million of special warrants issued to president's list purchasers. In addition, the company will issue the agents non-transferable broker warrants equal to 6.0 per cent of the total number of special warrants under the offering (including in respect of any exercise of the overallotment option), subject to a reduction to 3.0 per cent for president's list purchasers. Each broker warrant will entitle the holder thereof to purchase one common share at an exercise price equal to the offering price for a period of 24 months after the closing date.

The offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the TSX Venture Exchange and the entering into of an agency agreement between the company and the agents. Closing of the offering is expected to be on or about May 5, 2026, or such other date as may be determined by the company and the agents.

About Idex Metals Corp.

Idex Metals is a mineral exploration company focused on advancing a portfolio of base and precious metal projects in Idaho. Idex is primarily focused on the exploration and development of the Freeze copper-gold porphyry prospect located in the newly discovered Idaho copper district, Washington county, Idaho. With a strategic land position in a top-tier mining jurisdiction and surrounded by major industry players, IDex is committed to redefining district-scale exploration in Idaho.

We seek Safe Harbor.