Ms. Nicole Brewster reports

RENFORTH DECLARES INITIAL VICTORIA NICKEL POLYMETALLIC MINERAL RESOURCE ESTIMATE IN MALARTIC, QUEBEC OF 125 MILLION TONNES GRADING 0.15% NIEQ IN AN OPEN PIT

Renforth Resources Inc. has advised shareholders that Victoria contains a pit-constrained in situ 413 million pounds of nickel equivalent over 2.5 kilometres of strike, as stated in the initial mineral resource estimate for Victoria presented herein.

• Initial mineral resource calculated using approximately 10,000 metres of drilling over 2.5 kilometres strike length within a approximately 20 km long structure, mineral resource open on strike;
• Deepest drill hole pierce point is 320 m below surface, the deposit is open at depth;
• Mineralization is hosted in interlayered ultramafic (nickel, cobalt, platinum and palladium) and black shale (zinc, copper, silver and gold) bands, with up to three stacked horizons, intersected on surface and in drilling, forming a package up to 500 m wide;
• The mineral resource is pit-constrained with a strip ratio of less than 1:1 in a 2.5 km long, 200 m deep pit, two potential starter pit options leverage the near-surface geometry of the deposit and advantageous Quebec infrastructure to underpin future growth.

Two potential mineral resource estimate starter pit subsets are as shown in the attached table.

Nicole Brewster, president and chief executive officer of Renforth, states: "Today's initial MRE establishes Victoria as a large-scale, near-surface polymetallic nickel system in a top-tier jurisdiction. With our large land package, hydro power, roads and nearby processing plants we see a clear path to scale. Our next steps -- continuing our positive metallurgical sorting optimization test work, and stepout and infill drilling -- with an aim to grow and upgrade the mineral resource ahead of a PEA."

Martin Demers, vice-president of exploration for Renforth, states: "The completion of the first mineral resource estimate at Victoria is an important milestone to initiate the economic evaluation of this type of polymetallic target. Even if the deposit model is not fully understood at this stage, the fertility of the ultramafic units, even though currently relatively narrow, is supported by the polymetallic values. Geophysical anomalies currently indicate an extensive footprint upon which to follow-up. The ongoing integration of information will eventually allow regional-scale mineralization vectors targeting a larger deposit. The identification at Victoria of magmatic assimilation of sulfur and carbon can already be considered as a positive sign supporting the search for targets attached to a large magmatic system."

Victoria geological model

The current geological model corresponds to a modified magmatic Ni-Cu-Co (nickel-copper-cobalt) sulphide deposit hosted in the Pontiac geological subprovince. The mineralized system straddles a contact between a siliceous graphitic and sulphidic Zn (zinc) rich horizon and an ultramafic sill and volcanic flow complex with thicknesses reaching several tens of metres. The drilling coverage has intersected between two and three contacts repeated within a 500-metre-thick package. The mineralization mechanism implies the following processes:

• Sulphur carbon assimilation at the magmatic stage;
• Nickel extraction from the ultramafic magma;
• Mineralization reaction: pentlandite exsolutions hosted in pyrrhotite coexisting with sphalerite;
• Conversion of sedimentary pyrite in graphitic mudstone to pyrrhotite;
• Metamorphic recrystallization of silicates and sulphide phases.

The company's interpretation is that its geological model shares several characteristics with the Outokumpu deposits of eastern Finland where the formation processes of two separate mineral systems have overlapped and interacted.

The Victoria structure runs west to east across the centre of the Malartic metals package property for a strike length of approximately 20 km, with mineralization occurring at or near surface, forming a rock package that pinches and swells across its length, with north to south thicknesses of up to 500 m as observed in surface sampling and drill results to date. The MRE is derived from approximately 2.5 km of strike drilled off with 10,316.7 m of drilling in 44 drill holes, located from the regional Rapide 7 generating station road, which runs south from the town of Cadillac through the centre of the property to the hydroelectric generating damn, to the west. This property includes the ground Renforth has previously stripped, removing one to two m of overburden in places to expose approximately 180 m of mineralization on surface.

Located approximately four km to the north of Victoria, the Lalonde structure carries similar mineralization in the same type of setting. The Lalonde trend, which stretches for approximately 30 km has also been drilled by Renforth, again commencing in the vicinity of the road but is not included in this MRE. Additional showings of similarly mineralized material exist elsewhere on the property, including Fouillac, south of Victoria, and at unnamed locations north of Lalonde. These areas and others within the company's approximately 300-square-kilometre property require additional investigation.

Malartic metals mineralization on property

Renforth's Victoria deposit can be placed within a group of its peers, though the smallest quantified deposit in the slide above it is also the newest discovery. Renforth's future plans at Victoria are anticipated to positively impact Victoria's ranking within this group.

Renforth's current and next steps with regards to the Victoria deposit include, in no particular order:

• Continued drilling within and below the defined deposit to infill and extend depth ].
• Exploring other opportunities on the property to evaluate the presence of a large ultramafic magmatic system;
• Continued evaluation of TOMRA sorting technology which has been proven to work at Victoria, this will allow concentration of material prior to processing, reducing the use of all inputs and resulting waste;
• Continued metallurgical assessment of the mineralized material in order to produce a conceptual flowsheet for processing;
• Investigation of the carbon sequestration capacity of the ultramafic material at Victoria with a view to the value add of carbon reduction using eventual tailings and material discarded during sorting;
• Renforth will plan to complete a PEA for Victoria.

TOMRA testing status

As previously press released Oct. 1, 2024, Renforth successfully completed an initial test of material from Victoria at the TOMRA mining test centre in Wedel, Germany. Results include high-definition recognition of mineralization in the drill core samples submitted, showing sulphide mineralization and mineralized inclusions in waste rock. In addition to proof of concept that the material can be sorted prior to processing, which will increase the grade of the material processed by reducing the mass of the material, the recognition of waste rock and the detection of an EM signal of conductivity from the mineralized particles allows additional separation potential in secondary sorting/scrubbing circuits. In addition to a positive impact on grade, the concentration of material would also result in a reduction to the volume of material processed and therefore waste generated, and a reduction in the amount of chemicals, water, power and other inputs used in the processing of mineralized material from Victoria.

Initial metallurgical testing status

With financial support from the Quebec government the Victoria project benefitted from the completion of initial early stage metallurgical testing. Findings of this initial testwork, which were previously press released March 27, 2025, include:

1. The 18 samples assayed between 0.01 to 0.16 per cent copper, where 90 to 100 per cent of the copper contained in the samples was in chalcopyrite, with the balance in bornite.
2. The 18 samples assayed between 0.03 to 0.27 per cent nickel, where 2 to 98 per cent of the nickel was mainly contained in pentlandite and violarite. Most of the remaining nickel in these samples was in solid solution form in pyrrhotite and pyrite. In samples containing over 0.1 per cent nickel, over half of the nickel content was present in nickel-sulphide minerals.
3. Zinc grades varied widely for the 18 samples, between 0.01 to 1.5 per cent zinc. Samples higher in copper were generally also higher in zinc. Zinc grading over 0.1 per cent was contained entirely in sphalerite, lower-grade samples contained zinc in chromite and iron.
4. The 18 samples measured between 0.3 to 8.7 per cent sulphur. From 60 to 95 per cent of this sulphur was present as pyrrhotite, a smaller fraction present as pyrite and the remainder was distributed among nickel sulphides, chalcopyrite, sphalerite, galena and molybdenite.
5. A comparison of copper and nickel sulphides demonstrates that some samples were rich in copper and zinc sulphides, some in nickel sulphides and some samples in all three metals, suggesting distinct flotation conditions would likely be required for each feed type in order to produce high-grade copper and/or nickel and/or zinc concentrates.
6. Samples were subject to a single grind size and underwent a bulk mineral analysis with liberation estimate protocol. This process found that it was possible to liberate copper, nickel and zinc by flotation. Further metallurgical testing and grind size determination work are required.

Antoine Yassa, PGeo, OGQ, senior associate geologist, P&E Mining Consultants Inc., a qualified person pursuant to the requirements of NI 43-101, independent from Renforth and the author of the September, 2025, MRE for Renforth's Victoria deposit published herein, has reviewed and approved the technical information regarding the MRE in this press release.

Martin Demers, OGQ, Renforth's vice-president of exploration, a qualified person pursuant to the requirements of NI 43-101, has reviewed and approved the contents of this press release.

The technical contents of this press release have been reviewed and approved by Francis Newton, PGeo, OGQ, Renforth's consulting senior field geologist and a qualified person pursuant to the requirements set out in NI 43-101.

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