Mr. Clayton Fisher reports

IDEX METALS COMMENCES DRILLING & COMPLETES EXPANDED IP SURVEY AT THE FREEZE PROPERTY, IDAHO

Geotech Drilling Services Ltd. has mobilized to site and has commenced drilling at the North Breccia, one of several priority target areas at Idex Metals Corp.'s Freeze property. Idex has advanced from concept toward a fully financed, systematic discovery campaign at Freeze, with a 10,000-metre drill program testing a large magmatic-hydrothermal system. The company has also now completed its expanded 90.4-line-kilometre induced polarization (IP) geophysical survey; final inverted results are expected shortly, which will be used to support target refinement during the drill program.

The 2026 exploration program is designed around three core objectives:

1. Continue to drill test along the Kismet corridor (North Breccia, Kismet and Frostfall) directly beneath the North Breccia, where the company has interpreted the potential for a large porphyry system;
2. Define the Kismet copper target with the goal of establishing the extent, metal tenor and grade distribution of the high-grade oxide copper mineralization;
3. Advance existing targets to drill-ready status and generate new drill targets for the 2027 exploration season.

"Idex is now executing on its clear and fully funded game plan to advance Freeze from concept through to a systematic discovery campaign," said Clayton Fisher, chief executive officer and director of Idex Metals. "This is slated to be the largest and most comprehensive exploration program in the company's history, with approximately 10,000 metres of drilling, extensive geological mapping, and a 2,500-sample phase I soil and rock program. Our strategy is disciplined and goal oriented: test the highest-priority geochemical and geophysical targets, define the Kismet target zone, and advance new and existing targets to drill-ready status. We believe Freeze has the scale, geological attributes and target diversity required to host a significant North American copper deposit. Idex is very excited to have commenced the catalyst-rich 2026 exploration program."

2026 exploration strategy

The 2026 exploration strategy at Freeze is built around an integrated exploration model combining drilling, detailed geological mapping, soil geochemistry and rock-chip sampling. These overlapping data sets provide confidence that a mineralized magmatic-hydrothermal system exists on the property.

The company's 2026 program is designed to test high-priority targets within the broader Freeze system while also building a pipeline of additional drill targets for future campaigns. The program will focus on four complementary workstreams:

1. Geophysical interpretation and target refinement using results from the recently completed 90.4-line-kilometre geophysical survey;
2. Exploration drilling focusing on targeting a magmatic-hydrothermal system under and/or near the North Breccia and Kismet targets based on geochemical and geological evidence;
3. Definition drilling at Kismet designed to evaluate continuity, extent and grade distribution of the Kismet target;
4. Property-wide target generation and follow-up on underexplored areas through mapping, soil sampling and rock-chip sampling.

The company believes the combination of 2025 drill data, surface geochemistry, geological mapping and historical work provides a strong technical foundation for the 2026 program. The work is intended to move Freeze from broad-scale target definition into a focused and systematic drill campaign aimed at discovery, resource-potential evaluation and future target generation.

2026 drill program

The 2026 drill program has been designed to total approximately 10,000 metres of drilling across approximately 20 holes. The company has commenced drilling with one core rig at North Breccia, with a second rig expected to arrive on site in July to expand drilling activities across additional priority targets.

Planned holes are expected to average approximately 500 metres, with potential depths of up to 1,200 metres. The program is designed to provide flexibility to adjust hole sequencing, depth and follow-up drilling based on geological observations, visual mineralization, assays and continuing interpretation.

Priority drill targets:

1. North Breccia: highest-priority 2026 drill target and primary porphyry discovery target;
2. Kismet copper oxide zone : oxide-zone definition target with the goal of advancing toward future resource potential.

Secondary drill targets:

1. CM target: high-priority target to be tested and advanced based on integrated geophysical, geological and geochemical evidence;
2. Shiver target: high-priority target to be advanced through drilling and/or supporting exploration work.

The drill program is intended to be dynamic. Results from initial drilling, mapping, surface sampling and assays may result in changes to hole sequencing, target ranking and follow-up priorities.

Kismet copper target definition

A second core objective of the 2026 campaign is to evaluate the geometry, continuity, grade distribution and scale potential of the Kismet copper target. The aim of the program is to utilize a combination of drilling, geophysics mapping, sampling, assay integration and geological modelling to build on the 2025 drill program at Kismet. The Kismet drilling program is intended to run in tandem with exploration drilling and broader target generation.

The overall objective is to define the true lateral and depth extent of the Kismet mineralized system and determine whether the Kismet target can be advanced toward future resource definition work. Additional work required to support any future resource estimate may include closer-spaced drilling, geotechnical studies density measurements, metallurgical testing, geological modelling, quality assurance/quality control review and additional technical studies.

No preliminary mineral resource estimate has been completed at Kismet, and there is no certainty that further exploration will result in the definition of a mineral resource. The company's objective is to evaluate the future resource potential of the Kismet target through systematic exploration and technical work.

Advancing existing targets and building the 2027 drill pipeline

In addition to the 2026 drill program, Idex plans to complete a property-wide mapping and geochemical sampling program designed to advance existing targets to drill-ready status and generate additional drill targets for the 2027 exploration season.

The phase I surface exploration program consists of approximately 2,250 soil samples and 250 rock samples, along with more than 60 planned creek traverses across underexplored regions of the Freeze project.

The goal of this work is to identify coherent geological, geochemical and geophysical target footprints capable of being advanced toward drill-ready status. Target advancement criteria may include: (i) anomalous copper, gold, molybdenum or related pathfinder geochemistry; (ii) favourable intrusive, breccia, structural or alteration settings; (iii) supportive geophysical responses and evidence of scale potential; and (iv) practical access, permitting and collar-location considerations.

The company expects to integrate results from the 2026 phase I sampling program and mapping traverses into a ranked 2027 target pipeline by the end of the 2026 field season.

The 2026 IP survey

The company has now completed the full 90.4-line-kilometre IP survey across the Kismet corridor and Shiver target areas, including both the original planned grid and its subsequent expansion. The original planned grid consisted of 37 line kilometres of IP and was expanded due to the discovery of new, favourable subsurface chargeability and resistivity anomalies in the target area. Data processing and interpretation are under way, and results are expected imminently. The survey is being utilized to support drill targeting during the current drill program.

Near-term catalysts:

• Reporting of IP results from the company's expanded 90.4-line-kilometre survey;
• 10,000 metres of drilling across priority targets, including North Breccia, Kismet and CM;
• Completion of detailed surface lithological maps upon continued mapping, and the receipt of soil and rock-chip geochemical data;
• Initial assay results from drilling at the North Breccia porphyry copper target.

Qualified person

The scientific and technical information in this news release has been reviewed and approved for disclosure by David Hladky, PGeo (registered in Alberta), vice-president, exploration, of Idex Metals. Mr. Hladky is a qualified person for Idex Metals within the meaning of National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Idex Metals Corp.

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

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