Mr. Simon Ridgway reports

RACKLA PROVIDES GRAD PROJECT AND REGIONAL EXPLORATION UPDATE

Rackla Metals Inc. has released assay results from the first three drill holes of its 2025 campaign on the Grad property (see release dated Oct. 6, 2025). Holes G25-001, 002 and 003 tested below the high-grade BiTe showing, discovered in August, 2024. Results from these holes failed to show continuity to the mineralization discovered in the outcropping intrusive. The company is working on interpretations to understand why these holes did not intersect similar mineralization to that observed on surface.

The target at Grad is a large, altered and intensely veined intrusive that measures approximately two kilometres in diameter and forms the core of a very steep mountain. The drill program was the maiden drill program on the property and tested a small portion of the intrusive. While these initial results are disappointing, there are results yet to come from seven holes representing 3,518 metres of the 4,489 m program. Rackla has contacted the lab on several occasions and been told that the results for the remaining drill core samples are still weeks away. The lab did say that it has been a tremendously busy exploration season, that they are backlogged on sample processing and cannot give the company an exact date when the core will be finalized, or in which sequence the sample batches will be processed. Therefore, the company has made the decision to receive the analysis for the remaining seven holes only when they have all been completed. The company estimates that will be early November.

In the interim, Rackla has been receiving stream sediment, soil and rock results from the regional exploration program completed in 2025. During this program the company collected over 500 rock samples, 1,400 soil samples and 140 stream sediment samples. There are two batches of stream sediment samples and four batches of rock and trench samples outstanding. However, results to date clearly show a number of new discoveries in the region, which are described below. These early stage discoveries are encouraging and the company is planning follow-up programs in 2026.

Manta showing

The Manta showing was discovered 1.5 kilometres south of the BiTe showing and is in the Grad claim group. Manta occurs as a previously unmapped Cretaceous intrusion. In 2025, the company conducted prospecting and talus-fine sampling around the intrusion. The talus-fine sampling returned samples with gold values up to 0.56 part per million Au and associated bismuth, tellurium and arsenic. Rock sample results from the western margin of the intrusion returned a couple of samples greater than one ounce of gold per ton (31.1 grams per tonne). The company followed up in this area with trenching late in the season and these results are pending.

Ogre property

The Ogre target is located 10 kilometres north of the Grad property. It occurs on the southeastern margin of the large, Cretaceous, O'Grady batholith. In 2025, Rackla conducted stream sediment sampling, talus fine sampling, heavy mineral concentrate (HMC) sampling (that is, gold panning), prospecting and established a 2.5 by 2.5 km soil grid. The gold panning was conducted in an area where Northwest Territories government collected a HMC sample with 27 grains of gold in a single sample. This area was labelled the 27 Grains target. Rackla followed up on this work by panning above and below the government sample, and along a 500 m stretch of the stream, observed visible gold grain counts from one to three grains per pan. These results prompted the company to establish a soil sample grid over this area. The soil sampling program identified a 1.5 km long coincident Au-Bi-Te-As (gold-bismuth-tellurium-arsenic) anomaly.

North of the 27 Grains target, the program identified an 800 m long, coincident gold-bismuth-arsenic soil anomaly in the O'Grady batholith, west of the projection of the 27 Grains structure. Rock samples collected on the Ogre property show a particularly strong correlation with tellurium. This anomaly remains to be followed up in 2026.

Calypso property

The Calypso property was staked 17 km west of the Grad property and is located on the southwestern margin of the O'Grady batholith. The property is another grassroots discovery by the company, following up on a government regional geochemical survey that identified gold and bismuth anomalies. While conducting talus sampling along the break in slope of the cliff, Rackla geologists identified sulphide-bearing sheeted quartz veins in the intrusive. Rock samples collected from this veining have returned over 10 g/t Au with high bismuth and tellurium values.

Lened property

Upon completion of land use planning in the Sahtu region, the ground that hosts the Lened tungsten deposit was reopened for staking. Tungsten mineralization was first discovered at Lened in 1960 and from 1977 to 1982 an intensive exploration program was conducted by Union Carbide Exploration Ltd.

This historic work included over 23,000 m of diamond drilling and much of the core remains on the property. A historic resource of 900,000 tonnes grading 1.0 per cent WO3 was calculated for the deposit (not National Instrument 43-101 compliant).

Rackla recognized the value of the historic work and significance of this tungsten resource and staked claims to cover the deposit.

The historic work was focused on tungsten and rarely was any analysis for gold undertaken. The company also believes there could be significant gold potential on the property. Rackla plans to compile the historic data into a digital format over the winter of 2025 to 2026 to unlock the potential of the Lened property.

The company has a solid financial position going forward with $10-million in the bank and is well positioned to capitalize on the 2025 discoveries made in this portion of western Northwest Territories.

Rackla is working in consultation with the Sahtu Dene and Metis communities, and remains committed to maintaining the respectful, collaborative relationships the company has built with the Sahtu. As the company advances exploration at its properties, the company will continue working closely with local stakeholders and regulatory agencies to ensure its activities create long-term value and reflect community priorities.

Qualified person

Scott Casselman, BSc, PGeo, vice-president, exploration, of the company, is a member of the Association of Professional Engineers and Geoscientists of British Columbia and is the company's qualified person as defined by National Instrument 43-101. Mr. Casselman has reviewed and approved the technical information contained in this news release.

About Rackla Metals Inc.

Rackla Metals is a Vancouver, Canada-based, junior gold exploration company. The company is targeting reduced intrusion-related gold systems (RIRGS) mineralization on the southeastern part of the Tombstone gold belt in eastern Yukon and western Northwest Territories. Management believes that this area, which is underexplored for RIRGS deposit types, has the potential to be the next frontier for the discovery of these large gold systems.

We seek Safe Harbor.