Mr. Scott Eldridge reports

MILITARY METALS RECEIVES MINERAL EXPLORATION GRANT FROM GOVERNMENT OF NOVA SCOTIA

Military Metals Corp. has been awarded a $100,000 exploration grant from the government of Nova Scotia Department of Natural Resources Mineral Resource Development Fund (MRDF) in support of the company's current exploration activity at the West Gore antimony-gold project. The grant funding will finance a portion of the continuing diamond drilling campaign at the project.

The continuing West Gore antimony-gold project drill program was announced in a company news release dated July 7, 2026, and is planned to include:

• Seven drill holes planned totalling 1,750 metres;
• Holes to target the downplunge extension of the past-producing deposit below historical mine workings;
• Holes to target the downplunge extension of the historically exploited Brook vein occurrence and continuity of a significant historical intercept.

Equity compensation grants

The company also announces that it has granted additional performance share units (PSUs) of the company to incentivize performance that aligns with current corporate needs. Specifically, the company has granted 2.5 million PSUs, with 80 per cent vesting upon corporate performance resulting in the successful reinstatement or renewal of the Trojarova exploration permit and an additional 20 per cent being granted in connection with corporate performance that enhances strategic operations related to Trojarova, measured by: (a) establishing four MOUs (memorandums of understanding) or similar letters of cooperation with Slovak ministries or agencies relevant to the company's business and/or key European or international institutions; (b) board approval of a written ESG (environmental, social and governance) strategy for Trojarova, including an outline of remediation and responsible development principles; and (c) board approval and implementation of a stakeholder engagement strategy, including an action plan incorporating engagement with local communities in Slovakia. All PSUs are subject to the terms of the plan and applicable securities laws.

The vesting conditions are intended to align the interests of directors and management with the interests of the company and of shareholders. Of 3.05 million PSUs that were outstanding prior to this grant of PSUs, 300,000 have been approved for cancellation and the holders of the outstanding 2.75 million PSUs have agreed to update their entitlements to reflect the vesting conditions.

The company has also completed the 30-day period required by the policies of the Canadian Securities Exchange since termination of the company's options as previously disclosed, and has issued an aggregate of 6.47 million options to the directors, officers and consultants who had agreed to the option termination. Each of the newly issued options are exercisable for common shares in the capital of the company at an exercise price of 16.5 cents for a period of five years. All options and PSUs granted are subject to a Canadian Securities Exchange hold period of four months from the date of grant.

About the West Gore project

West Gore was an important antimony producer during the First World War, making significant contributions to the allied war historical production from the West Gore district, which has been estimated at 7,761 tonnes (t) of antimony (Sb) concentrate (46 per cent Sb; Messervey, 1932) and 7,149 ounces (oz) gold (Au) (Bates, 1987). The project lies in the Meguma gold camp, and consists of a past-producing underground mine and an additional occurrence (the Brook vein) historically exploited with a single stope. Mineralization occurs as stibnite, native antimony, aurostibnite, and antimony-gold alloys and oxides. Aside from minor exploration work in the 1960s, 1980s and 2010s, the West Gore system remains significantly unexplored after the First World War.

Widely accepted historical accounts detail that commercial mining at West Gore took place between 1883 and 1917 (Malcolm, 1929). The Mining Association of Nova Scotia reports on its website that production ceased during the First World War when a ship load of antimony concentrate en route to Wales for processing was torpedoed and sunk. The loss of this revenue bankrupted the mining company and commercial operations were terminated.

Qualified person

The technical contents of this news release were reviewed and approved by David Murray, PGeo, vice-president of exploration for Military Metals and a qualified person as defined by National Instrument 43-101. Mr. Murray personally compiled and verified historical drilling results, including historical drill hole 87-01, from original analytical certificates and drill logs included within the Durham Resources 1987 assessment report. Furthermore, Mr. Murray has independently and personally reviewed all technical and historical references cited herein.

About Military Metals Corp.

The company is a British Columbia-based mineral exploration company that is primarily engaged in the acquisition, exploration and development of mineral properties with a focus on antimony.

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