Mr. James Deckelman reports

DEEP SEA MINERALS CORP. RESPONDS TO REUTERS HEADLINE AND CLARIFIES STATUS OF NOAA EXPLORATION APPLICATION

Deep Sea Minerals Corp. is issuing this statement in response to a Reuters headline published on June 22, 2026, which stated that no exploration licence has been awarded and that the company's application remains under regulatory review.

The company believes the headline, without additional context, has created confusion in the market regarding the status of its application. Deep Sea Minerals confirms that its application has not been rejected, denied, dismissed or withdrawn. Rather, the application remains active within the applicable regulatory review process.

The company further confirms that its application has advanced through the substantial compliance stage. This is a meaningful procedural milestone within the NOAA regulatory pathway, indicating that the application has satisfied key threshold requirements for completeness and conformity. Upon reaching substantial compliance, the company obtains priority of right with respect to the applied-for concession covered by its application, further confirming its position within the regulatory process. While substantial compliance does not constitute final approval of an exploration licence, it represents an important step in the normal progression of the application.

Deep Sea Minerals is currently working toward full compliance and continues to engage constructively with the relevant regulatory authorities as the application proceeds through the remaining stages of review. The company's objective remains to obtain final approval of its exploration licence application through the established NOAA regulatory process.

"Recent media references have led to an incorrect impression that our exploration licence application was rejected," said James Deckelman, chief executive officer of Deep Sea Minerals. "That is not the case. Our application remains active, has passed substantial compliance and continues to move through the regulatory pathway. We are focused on satisfying the remaining requirements and working toward full compliance and final application approval."

The company understands the importance of clear and accurate disclosure to shareholders and the market, particularly where incomplete headlines may affect investor perception. Deep Sea Minerals will continue to provide updates as appropriate and in accordance with applicable securities laws and disclosure obligations.

Other corporate updates

The company is also pleased to announce the appointment of Jeremy Perez, CPA, as an additional independent director of the company, effective June 25, 2026.

Mr. Perez will serve as chair of the audit committee of the company's board of directors. The company believes Mr. Perez's public company audit and assurance experience, including his experience with companies listed on major Canadian and United States markets, will strengthen the company's governance, financial oversight, financial reporting and audit committee functions. His appointment also supports the company's continued enhancement of its audit committee composition and financial reporting oversight in connection with the company's previously submitted application to list its securities on Nasdaq, and its broader corporate, regulatory and capital markets objectives.

Jeremy Perez is a chartered professional accountant with over 15 years of experience in public audit and assurance, bringing deep expertise in the capital markets and junior resource sectors to the board of Deep Sea Minerals.

Mr. Perez has worked at leading public accounting firms, including Deloitte and Crowe MacKay LLP, gaining broad experience across private and public companies of all sizes, including entities listed on the New York Stock Exchange, TSX Venture Exchange, Canadian Securities Exchange and OTCBB, with a particular focus on the junior mining, clean technology, and technology, media and telecom sectors.

Throughout his career, Mr. Perez has developed a strong record in complex technical accounting matters under IFRS (international financial reporting standards), U.S. GAAP (generally accepted accounting principles) and ASPE. Through his extensive experience with financial reporting requirements, Mr. Perez brings a deep understanding of the continuous disclosure requirements applicable to publicly listed entities.

Mr. Perez holds a bachelor of social sciences with a major in economics and a minor in business from the University of Victoria and obtained his CPA designation through the Chartered Professional Accountants of British Columbia.

The company has reconstituted the audit committee of its board of directors as follows: Jeremy Perez, chair, Geoff Balderson and Anthony Zelen.

About Deep Sea Minerals Corp.

Deep Sea Minerals is a seabed mineral exploration and development company focused on evaluating opportunities to support the future supply of critical minerals through the acquisition, exploration and development of deep-sea mineral assets.

The company's strategy is centred on identifying jurisdictions and geological settings with potential exposure to polymetallic nodule systems, which are recognized for containing combinations of metals that may be relevant to defence, industrial manufacturing, clean energy infrastructure, advanced electronics and artificial-intelligence-related supply chains. These seabed resources represent a largely undeveloped component of the global mineral supply base and are the subject of increasing policy, scientific and regulatory attention worldwide.

As part of this process, the company has commenced early-stage engagement with selected governments and regulatory bodies in the Pacific Ocean region to assess potential pathways for future exploration initiatives, subject to applicable international, national and environmental frameworks.

We seek Safe Harbor.