Mr. Thomas Lamb reports

J2 METALS INC. PROVIDES PRIVATE PLACEMENT UPDATE

J2 Metals Inc. has extended the closing of its previously announced non-brokered flow-through private placement financing of up to $1.5-million, originally announced on Jan. 29, 2026.

As previously announced, the company closed the first tranche of the FT (flow-through) subscription receipt offering on Feb. 23, 2026, issuing an aggregate of 1,365,714 flow-through subscription receipts at a price 35 cents per FT subscription receipt for aggregate gross proceeds of $478,000. Each FT subscription receipt issued pursuant to the FT subscription receipt offering will entitle the holder thereof to receive, upon satisfaction of the escrow release conditions that include completion of the company's previously announced plan of arrangement between the company and Twenty Mile Metals Inc., and without payment of any additional consideration or further action on the part of the holder, one common share in the capital of the company. No warrants will be issued in connection with the flow-through subscription receipt offering. The common shares underlying the FT subscription receipts will be issued on a flow-through basis pursuant to the Income Tax Act (Canada).

Thomas Lamb, chief executive officer, commented, "We anticipate the escrow conditions will be met within the next few weeks and the subscription receipts converted to shares."

The gross proceeds from the sale of the FT subscription receipts will be held in escrow pending satisfaction of the escrow release conditions. If the escrow release conditions are not satisfied, the escrowed funds will be returned to the holders of the FT subscription receipts, together with any accrued interest thereon, and such securities shall be cancelled without any further action by the holders thereof.

The company now expects the closing of the remaining tranche(s) of the FT subscription receipts to occur on or before April 15, 2026, subject to receipt of all necessary regulatory approvals, including acceptance of the TSX Venture Exchange.

About J2 Metals Inc.

J2 Metals is advancing gold and silver exploration projects with historical production or significant drill results in established mining jurisdictions in Mexico, Quebec and Alaska. The company's Sierra Plata silver-gold-antimony project in Zacualpan, Mexico, hosts multiple past-producing silver-gold mines, confirming its high-grade mineral endowment. At the Miniac project in Quebec's Abitibi greenstone belt, historical and phase I drilling have confirmed strong discovery potential, with reported grades of up to 4.8 grams per tonne gold and 6.9 per cent zinc over 0.3 metre (DDH DV-80). Recent high-resolution geophysical surveys have identified 19 high-priority targets along a largely untested seven-kilometre conductive horizon, which will be evaluated in a planned phase II drill program. The Napoleon project in the Fortymile district of Alaska is located within a prolific placer gold camp that has produced up to one million ounces of gold, with known hard-rock mineralization limited to the Napoleon area. Rock-chip samples grading up to 596 g/t gold, together with historical drilling by Teck and Kennecott reporting intercepts such as 8.9 g/t gold over three m and 0.9 g/t gold over 79 m, indicate a robust mineralizing system with district-scale discovery potential.

Qualified person

The technical information contained in this release has been reviewed and approved by Graham Giles, PGeo, J2's vice-president, exploration, who is a qualified person as defined under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

We seek Safe Harbor.