Mr. Damien Reynolds reports

MINERAL ROAD DRILL INTERCEPTS IN CONCEPTUAL EXPLORATION TARGET FOR BERGSLAGEN TUNGSTEN PROJECT

Mineral Road Discovery Inc. has continued to advance the 100-per-cent-owned Bergslagen tungsten project in Sweden with excellent WO3, copper and CaF2 drill intercepts. The historical Yxsjoberg mine forms the anchor of the Bergslagen tungsten project. Mineral Road's review of the previous operator's drill intercepts around the historical mine has uncovered the following shallow intercepts.

Significant historical drill intercepts

Select discovery intercepts within Mineral Road's conceptual exploration targets include:

• KD-004: 3.78 metres of 0.74 per cent WO3, 0.38 per cent Cu and 11.11 per cent CaF2 from 36.42 m;
• KD-005: 17.15 m of 0.42 per cent WO3, 0.23 per cent Cu and 6.66 per cent CaF2 from 39.85 m;
• KD-006: 12.60 m of 0.65 per cent WO3, 0.21 per cent Cu and 8.35 per cent CaF2 from 14.50 m;
• KD-007: 10.50 m of 0.79 per cent WO3, 0.15 per cent Cu and 6.76 per cent CaF2 from 25.50 m.

These historical assays indicate the robust multicommodity opportunity at Bergslagen, with primary tungsten, copper and acid-grade fluorite (CaF2, currently trading at industrial benchmarks of $500 to $630 per tonne). This approach, integrated with Mineral Road's proposed reprocessing of the two tailings repositories at Bergslagen, align directly with European critical raw material supply security mandates.

Highlights:

• Significant global tungsten supply shortage: Tungsten prices have tripled in the past year as industrial upgrading, defence and electrification needs and advanced manufacturing have increased demand at the same time as supply is constrained by limited mine output and China's and Russia's market dominance (approximately 80 per cent of tungsten production). Export controls from China as well as the United States, and tighter origin requirements for U.S. defence procurement have reinforced what Mineral Road considers a durable price floor.
• Three-stage program: Mineral Road intends to minimize the development cycle time by beginning with its Stage 1 tailings reprocessing proposal while targeting a shallow hardrock mining proposal as Stage 2 while starting the longer-lead-time work necessary to develop the potential for deeper hardrock mineralization as Stage 3.
• Significant historical head start: Exploration target generation is anchored by an extensive compiled database including approximately 15,000 metres of historical diamond core drilling and numerous technical and academic reports.

Management commentary

Damien Reynolds, executive chair and interim chief executive officer of Mineral Road, commented: "What makes Bergslagen a true Tier 1 district-scale opportunity is our ability to execute a structured, sequential strategy for the market.

"By establishing a conceptual exploration target of multimillion tonnes of surface tailings, we are targeting a potential cash flow anchor that demonstrates a potential production restart via reprocessing of existing tailings stores. Concurrently, our technical review emphasizes the true significance of shallow hardrock drilling and downdip geometry: The near-surface conceptual exploration targets are simply the upper, easily accessible expression of what is interpreted to be a larger continuous system."

Historical background

Mining and metal extraction in the broader Bergslagen region dates back over a millennium, establishing an ancient foundation of European industrial mining. Specifically, within the Yxsjoberg district, the original deposit was discovered around 1728 and was initially mined for copper. As industrial demands evolved and the value of strategic metals became apparent, the district transitioned away from copper to become Sweden's premier historical tungsten producer. Under modern operations, Yxsjoberg supplied over 90 per cent of Sweden's historical tungsten before operations ceased in 1989, leaving behind extensive legacy infrastructure, heavily mineralized tailings repositories and a comprehensive database of historical work.

The Yxsjoberg mine operated as a major tungsten and polymetallic producer across active periods from the mid-1930s to 1989, yielding approximately 5.3 million tonnes of material at an average grade of 0.38 per cent WO3 and 0.16 per cent copper.

Adjacent mineralization: Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the company's project.

Qualified person disclosure

The technical information contained in this news release has been reviewed and approved by Derrick Strickland, a contractor and a qualified person as defined by National Instrument 43-101.