Mr. Richard Revelins reports

MERYLLION RESOURCES ENTERS INTO LEASE AND OPTION AGREEMENT FOR THE MAKENZIE GOLD, SILVER AND ANTIMONY PROJECT, NEVADA, USA

Meryllion Resources Corp. has executed a lease and option agreement dated as of July 11, 2025, with Bull Mountain Resources LLC (BMR).

BMR is the owner of 13 lode mining claims covering the volcano-sedimentary antimony/gold/silver Makenzie project, located in Nye county, Nevada.

The Makenzie prospect is a large (greater-than-2.5-square-kilometre) low-sulphidation, epithermal-style, multivein underground target, located 44 kilometres south-southwest of Austin in the Toiyabe range of central Nevada and approximately 48 kilometres north-northwest of Kinross Mining's Round Mountain mine (greater than 10 million ounces gold).

Makenzie is one of the largest untested gold, silver and antimony anomalies in Nevada.

As a condition precedent to the agreement, Meryllion was required to stake a minimum of 50 additional lode mining claims within the area of influence surrounding the Makenzie project. The company wishes to advise that it has now staked an additional 89 claims, bringing the combined project area to 102 claims over an area of 8.34 square kilometres.

The geology at Makenzie comprises a series of northeast-trending silicified breccia bodies up to 100 metres in width associated with a large rhyolite porphyry dike that have intruded into an approximately 250-metre-thick package of water-lain felsic tuffs and tuffaceous sediments.

The breccia and dike intrusion has resulted in extensive and intense argillic and silicic alteration of the tuffaceous horizons, showing anomalous gold, silver and antimony geochemistry, with north-south-trending strata-bound mineralization being documented in both the silicified mudstones and other water-lain sediments.

The project has seen limited historic exploration in the 1980s by Asarco Exploration, in 2008/2009 by Silverthorn Exploration Inc. (exploration report of Ion5b gold project, Nye county, Nevada by J. Dixon, January, 2009) and more recently (2014/2015) by La Cuesta International (LCI) (sample designations and summary of second quarter 2015 reconnaissance explorations program by B. Hillemeyer and P. Dunning, August, 2015).

The historical drilling (rotary drilling) by Asarco Exploration in 1984 and 1985 (information sourced from LCI's 2015 report) included 11 short (20- to 290-foot/six- to 88-metre) and two deep (900-foot/274-metre) vertical holes focused on an open-pit disseminated gold target within the intrusives and did not sufficiently test the higher-grade style of epithermal veining and strata-bound mineralization targets that Meryllion has identified.

The drilling reported several narrow anomalous gold values with up to 1.337 grams per tonne gold (0.039 ounce per ton) over 10 metres (SJC84-4-0-10) and 31.89 grams per tonne gold (0.93 ounce per ton silver) (SJC85-5-0-10 average between rerun and original samples).

In 2008/2009, Silverthorn Exploration Inc. acquired the claims and conducted a ground magnetic and VLF geophysical survey, outlining an area of interest trending north-northeast and covering approximately 2.5 kilometres by one kilometre exposed at Antimony Hill (to the north of the project area) and Rhyolite Hill (to the south).

In 2009, further exploration included rock-chip sampling (261 samples) and mapping across the claim block with a locally 100-metre-by-50-metre soil grid (700 soil samples) focused on the main Rhyolite Hill and Antimony Hill area.

Results reported from the rock-chip sampling include: 19 samples greater than 1.0 gram per tonne gold with a high of 6.53 grams per tonne gold, silver values up to 221.83 grams per tonne silver and 88 samples having greater than 50 parts per million antimony, of which nine reported values greater than 0.1 per cent antimony with a high of 19.43 per cent antimony.

The most recent sampling and reconnaissance mapping (confirmation of the historical mapping by Silverthorn) was completed in 2014/2015 by LCI and reported assay values of:

• 2.90 grams per tonne gold plus 70.2 grams per tonne silver plus 288 parts per million antimony over two metres true width within an iron-stained flow-banded rhyolite host;
• 1.3 grams per tonne gold plus 11.5 grams per tonne silver plus 290 parts per million antimony over two-by-two-metre from outcrop of clay altered intrusive;
• 1.74 grams per tonne gold plus 11.4 grams per tonne silver plus 356 parts per million antimony over three metres in a silicified tuff unit.

Values were reported from intrusives, breccias, tufaceous units, as well as the water-lain mudstones and sediments. Anomalous arsenic and mercury geochemistry is noted as haloing the main area of interest.

Meryllion will now initiate an exploration program following a review of the current data (historical) available with an initial plan for conducting field work in the near future.

Meryllion's chief executive officer, Richard Revelins, commented: "Our team has invested significant effort in attempting to identify and secure new additional exploration and mining activities for the company. Nevada is certainly a well-known and sought-after mining destination and the largest gold-producing region in the U.S. Nevada boasts mining-friendly regulations and a highly favourable permitting and exploration environment. We are looking forward to getting to work on this new high-prospective and exciting project."

Structure of transaction

1.1 Pursuant to the agreement, which has a term of five years, Meryllion will lease the property from BMR and will have the irrevocable option to purchase a 100-per-cent interest in the property from BMR. Under the agreement, Meryllion shall:

Any exploration expenditure amounts and any drilling amounts in excess of the minimum requirements shall be credited against future work requirements.

1.2 On satisfaction of the payments and exploration activity outlined above, Meryllion shall acquire from BMR a 100-per-cent interest in the property and shall grant BMR an NSR of:

1. 2 per cent on project lands (currently being 102 lode mining claims) comprising the Makenzie project and additional claims staked by Meryllion within the area of interest;
2. 0.5 per cent on any third party claims, lands and associated mineral rights obtained within the area of influence.

1.3 Upon cumulative preproduction payments and NSR payments totalling $15-million, the NSRs referred to above shall be reduced by 50 per cent (to 1 per cent on project lands and 0.25 per cent on third party claims).

Qualified person

Mark J. Pryor, SACNASP, is a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has reviewed and approved the scientific and technical disclosure set out in this news release. Mr. Pryor is an independent adviser to the company.

About Meryllion Resources Corp.

Meryllion is an exploration-stage company listed on the Canadian Securities Exchange. The company has the rights to acquire up to a 100-per-cent interest in the Westbury and Tasmanian strategic green metals ionic-adsorption-clay-hosted rare earth elements (REE) projects located in northeastern Tasmania, Australia, with a total tenement area of approximately 800 square kilometres. Meryllion's projects are situated along strike and/or adjacent to discoveries by ABx Group. ABx has reported that terbium and dysprosium in all of ABx's rare earths resources are the highest of any ionic adsorption clay deposit in Australia and are amongst the highest globally (refer ABx's Australian Securities Exchange announcement dated May 5, 2025).

We seek Safe Harbor.