Dr. Jacob Verbaas reports

MIATA COMPLETES FIRST FOUR HOLES OF FULLY FUNDED 25,000 METRE DRILL PROGRAM AT SELA CREEK GOLD PROJECT, SURINAME

Miata Metals Corp. has completed the first four holes of its fully financed 25,000-metre diamond drilling program at its Sela Creek gold project, located in Suriname.

The 2026 drill program more than doubles the metres drilled during the company's highly successful 2025 campaign, and is designed to simultaneously advance the Jon's Trend gold system toward scale while aggressively testing multiple high-priority exploration targets across the broader Sela Creek project area. This program positions Miata to move from discovery success to scale and potential multizone growth in 2026.

Highlights:

• Fully financed 25,000-metre diamond drill program has commenced, supported by two drill rigs;
• Occurrences of visible gold observed in the first two drill holes inspected to date (128.70 metres and 132.20 m in 26DDH-JT-001 and 181.70 m in 26DDH-JT-002) within intervals of dense veining and elevated sulphide content;
• First quarter 2026 drilling to prioritize expansion at Jon's Trend and exploration drilling at Puma, Stranger, Golden Hand, Big Berg and Howler;
• The exploration drilling will be guided by the refined structural framework based on over 10,000 structural measurements from oriented core that led to a 100-per-cent hit rate at Jon's Trend;
• Initial 2026 drill targets supported by high gold grades in one-metre-wide chip samples, including 30.02 grams per tonne gold and 44.64 g/t gold at Big Berg.

Chief executive officer commentary

"This drill program marks the beginning of a defining year for the Sela Creek gold project," said Dr. Jacob Verbaas, chief executive officer of Miata. "Intersecting visible gold in the first two holes of the year is an encouraging early validation of our refined targeting approach and a strong start to the 2026 campaign. With 25,000 metres planned and multiple high-priority targets ready to be tested, we are executing a disciplined strategy that advances Jon's Trend toward scale while aggressively pursuing new discoveries across the broader project. Supported by two rigs from Major Drilling, this program gives us the ability to build critical mass at Jon's Trend while simultaneously unlocking the significant, largely untested exploration upside that defines Sela Creek."

2026 drill program overview

The 2026 drill program is designed to systematically expand known gold mineralization at the Jon's Trend target while advancing a pipeline of discovery-stage targets generated from recent geological modelling, surface sampling, geophysics and structural reinterpretation.

Approximately 12,500 metres are planned at Jon's Trend, where drilling in 2025 confirmed a broad, shallow-dipping, structurally controlled gold system extending over approximately 750 metres by 250 metres and remaining open along strike and at depth. Drilling will focus on stepout expansion, continuity drilling and targeted depth extensions along interpreted plunge directions.

The remaining 12,500 metres will be allocated to advanced exploration targets across the Sela Creek project, including Puma, Stranger, Howler and other emerging prospects. These targets benefit from extensive artisanal mining, coherent soil geochemical anomalies and structural settings analogous to those defined at Jon's Trend and Puma during 2025.

Visible gold in 26DDH-JT-001 and 26DDH-JT-002

Drilling of the Jon's Trend target intersected a substantial vein zone in the first two holes drilled in 2026. In 26DDH-JT-001, two zones of elevated vein density and sulphides were intercepted, from 52.30 to 101.68 m (49.38 m) and 128.16 m to 147.95 m (19.79 m) downhole. An occurrence of visible gold was intercepted at 134.20 m.

In 26DDH-JT-002, three vein zones were intercepted, from 84 to 108 m (24 m), from 121.15 m to 147.6 m (26.45 m) and from 174.52 m to 192.87 m (18.35 m). The latter interval contained a visible gold occurrence at 181.70 m.

At Jon's Trend, visible gold occurrences are correlated with grade in drill core. Investors are cautioned these occurrences do not guarantee high-grade gold intercepts. Holes 26DDH-JT-001 and 26DDH-JT-002 represent approximately 50-metre stepouts to the north from hole 25DDH-SEL-045 and 25DDH-SEL-046. Samples from both holes were sent to FiLAB in Paramaribo for assay.

Initial exploration drill targets

Sampling programs completed across the Sela Creek project area have defined several priority gold targets based on a combination of geochemical anomalies, artisanal mining activity and favourable structural features that control the geology. Chip and channel sampling focuses on potential structural controls such as fold hinges and shear zones, and alteration minerals characteristic of orogenic gold mineralization.

Four targets are prioritized for discovery drilling: Big Berg, Puma, Stranger and Golden Hand. At Big Berg, a fence of drill holes totalling 600 m of drilling follows up on 8.1 m of 2.21 g/t gold in 25DDH-SEL-040 and 14 m at 1.72 g/t gold in 25DDH-SEL-031. Recent artisanal pitting has further exposed veins that yielded one m of 30.02 g/t gold and one m at 44.64 g/t gold in chip samples. At Puma, a total of 2,500 m drilling is planned to follow up on 25DDH-SEL-030 that yielded 5.3 m at 8.25 g/t gold, and 25DDH-SEL-021 that yielded 18 m at 2.70 g/t gold. Continued artisanal mining activity at Puma has exposed vein zones and structures that can be drilled with increased confidence. At the Stranger target, continued artisanal mining has exposed large vein zones, and their orientations can be targeted using the new structural understanding of Sela Creek informed by 2025 drilling. A fence of drill holes totalling 600 m is planned at the Stranger target. Continued surface work and artisanal mining at Golden Hand have yielded a zone that may be an extension of the Jon's Trend zone that will be tested with an initial drill fence totalling 600 m.

Structural controls and drill orientation at Sela Creek

Drilling completed during the 2025 field season, particularly at the Puma target, led to a step-change in Miata's understanding of the structural framework controlling gold mineralization across the Sela Creek gold project.

At Puma, drilling and surface mapping confirmed the presence of moderately plunging vein sets. This mineralization was projected from a nearby artisanal mining adit and led to a drill intercept of 5.3 m at 8.25 g/t gold in 25DDH-SEL-0301, with mineralization occurring within shallow to moderately dipping structural planes rather than as a single discrete vein. This observation and drill intercept demonstrated that intercept length and grade continuity are highly sensitive to drill orientation.

As a result, Miata refined its drill targeting approach to optimize hole azimuths and dip angles, allowing drill holes to better test mineralized structures and to intersect multiple stacked zones where present. This refined approach was subsequently applied at Jon's Trend, and directly improved intercept lengths, gram-metre outcomes and continuity, as evident from the September, 2025, breakout intercept of 35.6 m at 3.04 g/t gold in 25DDH-SEL-0331.

All drilling in 2026 is being executed using this refined structural framework, providing greater confidence in stepout drilling, improved predictability of results, and a robust technical foundation for both delineation and discovery drilling across the project.

Program timeline and next steps

Drilling and surface exploration activities are expected to continue through December, 2026. Assay results will be released on a regular basis as they are received and compiled. The company anticipates providing continuing updates on drilling progress, exploration results and any additional discoveries as the program advances, subject to quality assurance/quality control and laboratory turnaround times.

QA/QC statement

Chip samples were collected by taking chips over a certain interval along pit walls. Samples were analyzed at FiLAB Suriname, a commercial certified laboratory under ISO 9001:2015. Samples are crushed and pulverized to 85 per cent passing 88 micrometres prior to analysis using a 50-gram fire assay (50-gram aliquot) with an atomic absorption finish. For samples that return assay values over 5.0 grams per tonne, another cut was taken from the original pulp and fire assayed with a gravimetric finish. Intervals with coarse visible gold or high-grade results were analyzed using metallic screen assays at FiLAB. Miata inserts certified reference standards, as well as blanks, and for drilling, one-fourth core duplicates in the drilling sample sequence, for quality control and assurance.

Qualified person statement

The scientific and technical information in this news release has been reviewed and approved by Dr. Jacob Verbaas, PGeo, a director of the company, a qualified person as defined under the definitions of National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

About Miata Metals Corp.

Miata Metals is a Canadian mineral exploration company listed on the Canadian Securities Exchange, as well as the OTCQX (OTCQX: MMETF) and the Frankfurt Stock Exchange (FSE: 8NQ). The company is focused on the acquisition, exploration and development of mineral properties. The company holds a 70-per-cent interest in the approximately 215-square-kilometre Sela Creek gold project with an option to acquire a full 100-per-cent interest in the project and a 70-per-cent beneficial interest in the Nassau gold project with an option to acquire 100 per cent. Both exploration properties are located in the greenstone belt of Suriname.

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