CALGARY, Alberta, Oct. 19, 2026 (GLOBE NEWSWIRE) -- Northern Discovery Metals Inc. (CSE: NOR) (FSE: M1V0) (“Northern Discovery” or the “Company”) is pleased to announce a non-brokered private placement of non-flow-through units (“NFT Units”) and flow-through units (“FT Units”), respectively, for aggregate gross proceeds of up to C$1,500,000 (collectively, the “Offering”).

The NFT Units will be offered at a price of C$0.75 per NFT Unit, for gross proceeds of up to C$1,000,000, and each will be comprised of one common share of the Company (each, a “Share”) and one-half of one Share purchase warrant of the Company (each such whole warrant, a “NFT Warrant”). Each NFT Warrant will entitle the holder to acquire one Share (each, a “NFT Warrant Share”) at an exercise price of C$0.95 for a period of 24 months.

The FT Units will be offered at a price of C$0.90 per FT unit, for gross proceeds of up to C$500,000, and each will be comprised of one common share of the Company to be issued as a “flow-through share” within the meaning of the Income Tax Act (Canada) (the “Tax Act”) (each, a “FT Share”) and one-half of one transferable common share purchase warrant of the Company (each such whole warrant, a “FT Warrant”). Each FT Warrant will entitle the holder to acquire one non-flow-through common share of the Company (each, a “FT Warrant Share”) at an exercise price of C$1.10 for a period of 24 months.

The Company intends to use the net proceeds from the sale of the NFT Units for exploration expenses in respect of the Company’s exploration projects, and for general working capital purposes, including investor relations activities.

The Company intends to use the proceeds from the sale of the FT Shares to incur eligible “Canadian exploration expenses” that are intended to qualify as “flow-through mining expenditures”, as those terms are defined in the Tax Act.

The Offering is expected to close on or about November 16, 2026. Closing of the Offering is subject to the receipt of all necessary corporate and regulatory approvals, including approval of the Canadian Securities Exchange. All securities issued in connection with the Offering will be subject to a statutory hold period of four months and one day from the applicable date of issuance.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities referred to in this news release have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration under the U.S. Securities Act and applicable U.S. state securities laws or an available exemption from those registration requirements.

About Northern Discovery Metals Inc.

Northern Discovery Metals Inc. is a mineral exploration company focused on the acquisition, exploration and advancement of mineral properties in Canada. The Company is exploring for copper at its Vent Copper Project on Vancouver Island, British Columbia. Northern Discovery Metals intends to advance the Vent Copper Project through systematic exploration and evaluation of its mineral potential.

On Behalf of the Board of Directors

Jared Suchan

Chief Executive Officer and Director

Phone: (604) 294-3020

Email: info@northerndiscoverymetals.com

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, statements regarding the Offering, the anticipated gross proceeds of the Offering, the intended use of proceeds, the Company's exploration plans and objectives, the incurrence and renunciation of qualifying expenditures, the timing of closing of the Offering and the receipt of required approvals. Such forward-looking information is identified by words such as "anticipate", "expect", "intend", "plan", "believe", "will", "may", "could" and similar expressions. Forward-looking information is based on management's current expectations and assumptions.

In particular, this press release contains forward-looking information relating to, among other things, the Offering, including the total proceeds of the NFT Units and FT Units, the use of proceeds, including the planned exploration at the Company’s mineral properties, the intended use of the gross proceeds from the FT Shares to incur eligible “Canadian exploration expenses” that qualify as “flow-through mining expenditures”, the timing and amount of the renunciation of such expenses to purchasers of the FT Shares, and the closing (including the proposed closing date) of the Offering. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information, including the assumption that the Company will close the Offering on the timeline anticipated, will raise the anticipated amount of gross proceeds from the Offering, will use the proceeds of the Offering as anticipated, and will incur and renounce eligible expenses in the amounts and within the time periods required under the Tax Act. Those assumptions and factors are based on information currently available to the Company. Although such statements are based on reasonable assumptions of the Company’s management, there can be no assurance that any conclusions or forecasts will prove to be accurate.

Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking information, including risks that the Offering may not close as contemplated or at all, that anticipated proceeds may not be raised, that regulatory approvals may not be obtained in a timely manner, that the Company may not use proceeds as anticipated, risks relating to mineral exploration and development, commodity prices, market conditions, availability of financing, tax law changes affecting flow-through shares, permitting and regulatory matters, environmental and title risks, and other risks disclosed in the Company's public filings. Readers are cautioned not to place undue reliance on forward-looking information. Forward-looking information is made as of the date of this news release and the Company undertakes no obligation to update such information except as required by applicable law.

The CSE has neither approved nor disapproved the information contained herein.