Mr. Shawn Westcott reports

OPHIR METALS SIGNS LOI FOR THE BLACKFYRE MAGMATIC COPPER NICKEL-COBALT PROJECT IN QUEBEC

Ophir Metals Corp. has signed a non-binding letter of intent (LOI) to enter into an option agreement to acquire 100-per-cent interest in the BlackFyre magmatic copper-nickel-cobalt property, located approximately 20 kilometres northwest of Glencore's Raglan mine complex and 20 kilometres south of tidewater in the Cape Smith belt region of Quebec.

Project highlights:

• Prospective for semi-massive and massive sulphide mineralization;
• Numerous prospective zones have been documented indicating strong potential for copper, nickel, cobalt, and platinum group elements (PGEs), including the Manniit copper zone, which includes the Ouiche copper-nickel semi-massive sulphide showing;
• Situated in one of the largest documented coincident 99th-percentile-levelled lake sediment copper, nickel and cobalt anomalies in Quebec;
• Documented fertility, with layered mafic-ultramafic intrusions of the correct age relationships, overlying a large gravity anomaly, which suggests a Proterozoic mantle plume may be present.

"We are excited to expand our portfolio of projects in Quebec with a magmatic copper/nickel/cobalt/PGE sulphide property that has the potential for major discovery and upside," stated Shawn Westcott, president and chief executive officer of Ophir Metals.

The BlackFyre property consists of 366 claims, which include 108 claims under the LOI and 258 claims staked directly by the company. The property covers portions of the Watts Group and represents a highly prospective exploration opportunity for magmatic (Ni/Cu/Co/PGE) sulphide mineralization. The company intends to rapidly assess the property using airborne geophysical techniques as an initial exploration phase.

In 2018, the Quebec Geological Survey mapped and highlighted numerous prospective zones on the BlackFyre property that returned anomalous to high-grade values, including:

• Ouiche showing -- Magmatic Cu-Ni (plus or minus Co) in mafic-ultramafic intrusions, hosted in anorthosite-troctolite with rock samples:
  • 2.21 per cent Cu, 1,980 parts per million Ni and 407 ppm Co -- sample 20180676844;
  • 1.72 per cent Cu, 4,690 ppm Ni and 990 ppm Co -- sample 20180735824;
• Kangillialuk showing -- exhalative sulphide mineralization with Cu/Ni/PGEs, with rock samples grading up to 1,400 ppm Cu, 402 ppm Ni and 162 parts per million PGEs.

Exploration model

Glencore's nearby Raglan (Ni/Cu/Co/PGE) deposits occur in Kambalda-type komatiite flows and sills in the Chukotat group units. The Watts group unit has similar mafic-ultramafic compositions, alteration zones and sulphide mineralization that support comparable fertility; however, BlackFyre differs from Raglan in that the geological setting appears to satisfy most of the criteria of a mafic-ultramafic lopolith. Key lopolith criteria being:

• Cumulative mafic-ultramafic stratigraphy with chromitite;
• Ring-like outcrops and magnetic anomaly;
• Central younger cover;
• Appropriate scale and age relationships;
• Located on the eastern flank of a large gravity anomaly that may represent a Proterozoic mantle plume;
• Discontinuous outcrops of the Watts group, up to two kilometres wide, comprising gabbro, anorthosite, troctolite, peridotite, dunite and minor pyroxenite form a ring like oval about 14 kilometres by 16 kilometres.

Known faults coincide with curvilinear magnetic tilt angle lows. Faults may host conduit-style massive sulphides or act as feeders for stratiform sulphide bodies hosted with the mafic ultramafic complex.

Voisey's Bay (Canada), the Thompson nickel belt (Canada), Noril'sk (Russia), Jinchuan (China), Eagle's Nest (Canada) and the Nunavik nickel project (Canada) are all examples of magmatic sulphide deposits.

Management cautions that discoveries on adjacent properties (that is, the Raglan (Ni/Cu/Co/PGE) mine, which is noted above) and in and other global magmatic sulphide deposits listed may not necessarily be indicative of the presence of the mineralization present on the BlackFyre property.

The BlackFyre claims lie within one of the largest documented coincident 99th-percentile-levelled lake sediment copper, nickel, arsenic and cobalt anomalies in Quebec.

BlackFyre option terms

Under the terms of the LOI signed July 15, 2026, Robin Day and DG Resource Management Ltd. (collectively, the optionor) will grant Ophir (the optionee) the option to acquire a 100-per-cent interest in the property by making following cash and share payments.

The optionee shall also pay the optionor for 108 claim costs totalling $15,768.00. The optionee may accelerate the exercise of the option by making cash payments and issuing payment shares in advance of the relevant due dates. The optionee shall grant to the optionor a 2.0-per-cent net smelter royalty (NSR) for any mineral claims staked and held by the optionor within an agreed-upon area of mutual interest. Concurrently with entering into this agreement, the optionee will grant to the optionee a one-time bonus payment of two million shares should any drill hole intercept 2 per cent copper equivalent over 40 metres on the BlackFyre claims.

The LOI is non-binding and completion of the acquisition of the property remains subject to completion of satisfactory due diligence; the negotiation and execution of a definitive agreement that will include representations, warranties, covenants, indemnities, termination rights and other provisions customary for a transaction of this nature; approval of the TSX Venture Exchange; and other customary conditions. There is no certainty that a definitive agreement will be entered into or that the acquisition of the property will be completed.

Disclosure

The technical content of this news release has been reviewed and approved by Kaylyn Niemetz, PGeo, geologist for Dahrouge Geological Consulting Ltd. and a qualified person under National Instrument 43-101 and independent of the company, who has prepared and reviewed the content of this press release.

The historical sample results referenced in this news release were reported by the Quebec Geological Survey (Ministere des Ressources naturelles et des Forets du Quebec) in 2018 and are sourced from the Sigeom public database. These results are historical in nature, and the rock/grab samples referenced are selective by nature and may not be representative of the mineralization hosted on the property. The company's qualified person has not performed sufficient work to independently verify these historical results in accordance with NI 43-101, and the company is not treating them as current or verified. The company nevertheless believes that they provide a relevant indication of the property's exploration potential and support the rationale for the company's proposed exploration program.

About Ophir Metals Corp.

Ophir Metals is a diversified mineral exploration company focused on the exploration and development of the past-producing Breccia gold property located in Lemhi county, Idaho, and the Pilipas lithium property in James Bay, Quebec.

We seek Safe Harbor.