Mr. Simon Ridgway reports

RACKLA RECEIVES LAND USE PERMIT FOR THE 2026 EXPLORATION PROGRAM ON THE LENTUNG PROPERTY

Rackla Metals Inc. has obtained a five-year Type A land-use permit from the Sahtu Land and Water Board for the Lentung project. The permit allows for the establishment of a 49-person camp, drill-based mineral exploration program, and the repair, maintenance and use of existing trails and access routes at Lentung. The Lentung project is now fully permitted for the coming 2026 exploration season.

The Lentung project is located within the Tombstone tungsten belt of western Northwest Territories and is approximately 60 kilometres by road north of the past-producing Cantung tungsten mine. Between 1977 and 1982, Union Carbide Exploration Corp. conducted a comprehensive exploration program on the Lentung property (previously called Lened), which included 26,900 metres of diamond drilling, a variety of geochemical and geophysical surveys, detailed geological mapping, trenching, metallurgical, engineering, and economic and environmental studies. 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 (see Rackla's press release dated March 30, 2026). There has been no significant work on the site since then.

The company's 2026 plans for the Lentung project are to:

1. Establish a new 49-person camp on the site;
2. 4,000 metres of diamond drilling by twinning 27 holes to confirm Union Carbide results and to bring its findings up to a modern standard;
3. 6,000 metres of reverse circulation drilling to further define the known occurrences;
4. Surface trenching to expose shallowly buried tungsten bodies;
5. Clearing and repairing the 25 kilometres of existing roads and trails on site and the access trail to the Howards Pass access road;
6. Production of a National Instrument 43-101 resource calculation following the exploration season.

The 2026 field program is scheduled to commence May 26.

The proximity of the Lentung project to the Cantung mine presents a compelling exploration opportunity given strong tungsten prices, the growing global interest in critical minerals and the desire for a stable, secure North American supply. The Cantung mine began production in 1962 and operated intermittently until 2015, when it last shut down due to low tungsten prices. Should the Cantung mine restart, the high-grade tungsten at Lentung could contribute the re-establishment of tungsten mining of this region.

The company is working in consultation with the Sahtu Dene First Nation, the Dehcho First Nations and the local communities and remains committed to maintaining the respectful, collaborative relationships it has built in the area. As Rackla advances exploration at the Lentung project, the company will continue working closely with local stakeholders and regulatory agencies to ensure Rackla's activities create long-term value and reflect community priorities.

Simon Ridgway, chief executive officer of Rackla, commented: "Again, we are grateful for the support and feedback we received throughout the permitting process from communities across the region, including the Dehcho First Nations and Sahtu Dene and Metis, to local organizations, regional regulators and government. Since staking Lentung during the 2025 exploration season and acquiring the full historical database compiled by Union Carbide, we have been keen to return the drills to the property and revitalize this world-renowned belt with a new wave of tungsten exploration. We view the Northwest Territories as a favourable jurisdiction, due to the clear and efficient permitting process that supports responsible mineral exploration, and we recognize the long-term economic opportunities exploration can bring to the region."

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 the Northwest Territories and Nunavut Association of Professional Engineers and Geoscientists and is the company's qualified person as defined by NI 43-101. Mr. Casselman has reviewed and approved the technical information contained in this news release.

About Rackla Metals Inc.

Rackla Metals is a junior exploration company based in Vancouver, Canada. 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.

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