Mr. Thomas Lamb reports

J2 METALS INC. ANNOUNCES COMPLETION OF $520,000 SUBSCRIPTION RECEIPT FINANCING BY TWENTY MILE METALS INC.

Further to its press release dated April 20, 2026, J2 Metals Inc. spinout Twenty Mile Metals Inc. has raised an aggregate of $520,000 as part of its private placement of subscription receipts.

An aggregate of 5.2 million subscription receipts were issued at a price of 10 cents per subscription receipt. Each subscription receipt entitles the holder, without further action or payment of additional consideration, upon the satisfaction of certain release conditions, to receive one unit. The release conditions applicable to the subscription receipts include, among other things, receipt of conditional approval of the TSX Venture Exchange for the listing of the common shares of Twenty Mile.

Each unit will consist of one common share of Twenty Mile and one share purchase warrant. Each warrant will be exercisable to acquire an additional Twenty Mile share at a price of 15 cents per share for a period of 36 months. If the closing price of the Twenty Mile shares exceeds 25 cents per share for a period of 10 consecutive trading days, Twenty Mile may accelerate the expiry date of the warrants to a date that is 30 days following the issuance of a press release announcing such acceleration. The subscription receipts and the underlying units, when initially issued, were subject to an indefinite hold period pursuant to National Instrument 45-102, Resale of Securities. Following completion of the plan of arrangement between J2 and Twenty Mile, the units (including the underlying common shares and warrants), when issued, will not be subject to a hold period under applicable securities legislation in Canada.

Twenty Mile reserves the right to issue additional subscription receipts prior to listing. Any additional subscription receipts issued will be subject to a four-month-and-one-day hold period.

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.