Mr. Simon Ridgway reports

RACKLA PROVIDES UPDATE ON LENTUNG TUNGSTEN PROPERTY DATA COMPILATION AND 2026 EXPLORATION PROGRAM

Rackla Metals Inc. has provided an update on data compilation for its recently acquired Lentung tungsten property (previously known as Lened) in the Northwest Territories. The property was acquired by claim staking in late 2025. The property measures 19,600 hectares and is owned 100 per cent by Rackla (see press release dated Jan. 20, 2026).

Highlights:

• Rackla has completed the compilation and digitization of extensive historical data sets, including drilling, assays and technical studies.
• Historical work by Union Carbide includes 26,900 metres of drilling across 178 holes, identifying 15 tungsten occurrences over a 15-kilometre strike length, highlighting significant scale and upside.
• Historical internal resource and feasibility work indicate robust economics, including average mill grades of 1.14 per cent WO3 and strong recovery assumptions.
• Deposit ranks among the highest-grade tungsten skarn systems globally and is located in close proximity to the world-class Cantung and Mactung tungsten deposits.
• Digitized data will support modern 3-D geological modelling, resource validation and efficient targeting for upcoming drilling programs.
• Two thousand twenty-six program to include 10,000 m of drilling focused on confirming historical resources and expanding near-surface mineralization, targeting a National Instrument 43-101 resource.

Historical drill results and other technical information in this release are based on prior operator reporting and have not been independently fully verified by Rackla. Reported intervals are down-hole intervals and do not represent true widths; further works are required to confirm this.

Between 1977 and 1982 Union Carbide Exploration Corp. conducted a comprehensive exploration program on the Lened property which included 26,900 metres of diamond drilling in 178 holes, a variety of geochemical and geophysical surveys, detailed geological mapping, trenching, metallurgical, engineering, economic, and environmental studies. This work led to the discovery of 15 tungsten occurrences over a 15-kilometre strike length and defined a resource that was for internal company purposes and not independently verified. The results prompted the company to prepare an internal feasibility study that envisioned an open pit mine with mill throughput of 325 tonnes/day operating 365 days/year. The average ore grade to the mill was estimated at 1.14 per cent WO3, with 80-per-cent tungsten recovery to produce a 65-per-cent WO3 concentrate.

Early in 1982, Union Carbide submitted the project to the federal environmental assessment and review process (EARP) seeking a mine permit. However, due to declining tungsten prices, the company withdrew the application and paused all activities at the site. In 1984, a subsidiary of Union Carbide suffered a major environmental disaster at its pesticide plant in India. Struggling financially, Union Carbide was eventually taken over by Dow Chemical Corp. in 1999. There has been no exploration on the deposit since 1982.

Rackla has acquired the original Union Carbide files including original drill logs, assay sheets, mylar maps, metallurgical, environmental, resource, economic and geophysical studies. Since December, the company has been scanning the files, performing optical character recognition (OCR) and digitizing of the data. These data will be incorporated in 3-D modelling software in the coming months and will be used to aid with defining the 2026 drilling program for quality checks and resource confirmation. The drill core from the 1970s and 1980s drilling campaigns remained on the property and Rackla is planning for recovery and resampling in the summer of 2026.

The review of the files to date has shown a quality data set that is confirming a robust deposit with high-grade open pit potential. The historical resource estimate by Union Carbide was calculated for three of the 15 tungsten occurrences on the Lened property and ranks as one of the highest-grade tungsten skarn deposits in the world according to the United States Geological Survey ranking of tungsten skarn deposits and it is located in a region that is renowned to host world-class tungsten deposits which include the past producing Cantung mine and the Mactung deposit.

The tungsten mineralization at Lentung is hosted in altered limestone along the margins of Cretaceous alkalic (quartz monzonite) intrusions belonging to the Tungsten suite (Lened, CAC and Rudi plutons). Mineralization consists of the tungsten mineral scheelite with minor copper and gold associated with the skarns. The mineral resource was calculated on the Emma, Western Skarn and Stephen's Ridge occurrences.

Elsewhere on the property tungsten skarn mineralization is observed where the quartz monzonite intrusions interact with limestone-bearing units to form an additional 12 skarn occurrences. These occurrences have undergone only minor exploration and drilling and further work on these is planned to determine if they could contain additional resources. Also, elsewhere on the property where the intrusions encounter carbonate rocks like limestone and dolomite there is potential for tungsten skarn mineralization and Rackla will be exploring this potential. Table 1 lists some of the highlights from each of these other zones.

Rackla's plans for its 2026 program on the property are to complete 10,000 m of drilling with approximately half of the drilling to be directed towards confirming the historical resources and for QA/QC (quality assurance/quality control) purposes. This will also include lidar (light detection and ranging) of the resource area for topographic control and surveying of all drill hole locations. The goal would be to produce an NI 43-101 resource estimate by the end of 2026, or early 2027. The remaining 5,000 m of drilling will be directed toward expanding the resource with a particular focus on near-surface, open pittable resources.

Rackla will also be conducting archaeological and environmental studies to initiate the studies necessary for a mine permit application and to derisk the project. This work will add to the historic studies that Union Carbide initiated and will include water, wildlife, vegetation and socioeconomic studies.

Investor relations agreement

The company has entered into a service agreement with Canadian Mining Report of Pemberton, B.C., which will undertake investor relations activities, as such term is defined in TSX Venture Exchange Policy 3.4 -- Investor Relations, Promotional and Market-Making Activities, on behalf of the company. The services will be provided over a period of five months. Canadian Mining Report is a digital publication focused on the mining and metals sector, and junior Canadian miners, and provides digital marketing strategies and services.

Under the agreement, Canadian Mining Report will provide editorial content co-ordination and publishing, and media advertising design and management on selected platforms. Canadian Mining Report will receive an aggregate of $81,000 (U.S.) for the services to be provided, of which $6,000 has been paid to date from the company's general working capital.

The founder and publisher of Canadian Mining Report is Travis Grier. Canadian Mining Report is at arm's length to the company. To the company's knowledge, Canadian Mining Report and its principals have no interest, directly or indirectly, in the company or its securities, or any right or present intent to acquire any such securities. The agreement with Canadian Mining Report is subject to TSX-V approval.

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 exploration company. The company is targeting tungsten, gold and rare-earth minerals in the southeastern part of the Tombstone gold-tungsten belt in eastern Yukon and western Northwest Territories. This region is known to host world-class gold and tungsten deposits.

We seek Safe Harbor.