Dr. Marc-Antoine Audet reports

SAMA RESOURCES AND IVANHOE ELECTRIC COMMENCE 2025 EXPLORATION PROGRAM AT THE POLYMETALLIC SAMAPLEU-GRATA NICKEL-COPPER PROJECT IN COTE D'IVOIRE, WEST-AFRICA

Sama Resources Inc., together with its joint venture partner Ivanhoe Electric Inc., has commenced the 2025 exploration program at the polymetallic Samapleu-Grata nickel-copper project, which includes the polymetallic Samapleu and Grata deposits in Ivory Coast, West Africa.

Highlights of the 2025 exploration program:

• Infill drilling at the Grata deposit aims to convert a part of the 2024 mineral resource estimate containing nickel, copper, cobalt, platinum, palladium and gold from inferred resources to higher confidence indicated resources.
• Resource expansion drilling to stepout from the existing polymetallic mineralization at the Samapleu Main deposit.
• Detailed environmental and social baseline studies to be conducted to support future mine permitting.
• Exploration drilling to test the Mossikro prospect for the first time, where polymetallic mineralization is coincident with conductivity, similar to the Samapleu and Grata deposits.

The 2025 exploration program includes 4,500 metres of diamond drilling and updated environmental and social baseline studies to support project advancement toward a mining permit application. The project is a 60/40 joint venture between Ivanhoe Electric and Sama, with Ivanhoe Electric acting as the operator. In addition to a 60-per-cent interest at the project level, Ivanhoe Electric also owns 22.7 per cent of the common shares of Sama.

Dr. Marc-Antoine Audet, president and chief executive officer (CEO) of Sama Resources, commented: "The Samapleu-Grata project includes the large polymetallic Samapleu and Grata deposits, which formed the basis of our 2024 PEA, demonstrating the potential for an economic, polymetallic mining operation. Our upcoming program will continue to advance the project on multiple fronts -- technically, environmentally and socially -- to derisk and position the Samapleu and Grata deposits for development. We are also eager to follow up on the high-grade and copper-rich polymetallic mineralization we identified at the southwest Samapleu Extension and explore regional geophysical anomalies for potential incorporation into future technical studies. We believe that the project, including the Samapleu and Grata deposits, has the potential to grow into a world-class polymetallic mining district."

The 2025 exploration program aims to further advance the project following the March, 2024, preliminary economic assessment (PEA) by upgrading mineral resource confidence, expanding the current mineral resource and completing the environmental studies needed to support future mine permitting within the 2024 PEA area.

The 2024 PEA focused on only the mineral resources comprising the Samapleu Main, Samapleu Extension, Grata and Sipilou Sud Laterite deposits. It highlighted the potential for a large-scale, polymetallic and conventional open-pit mining operation producing copper, nickel, cobalt, platinum, palladium and gold (the PEA area) (refer to Sama's March 21, 2024, news release).

The revised 2024 PEA demonstrates the potential for a polymetallic mining operation producing 887,000 tonnes of nickel concentrate, 621,000 tonnes of copper concentrate, and byproduct cobalt, platinum, palladium and gold, over a 16-year mine life. The life-of-mine all-in sustaining cash costs are $6.13 (U.S.) per pound of nickel and $2.77 (U.S.) per pound of copper before byproduct credits, and $4.34 (U.S.) per pound of nickel and $2.17 (U.S.) per pound of copper after byproduct credits, producing a pretax net present value (NPV) of $463-million (U.S.) and internal rate of return (IRR) of 28.2 per cent with a posttax NPV of $277-million (U.S.) and posttax IRR of 22.3 per cent at an 8-per-cent discount rate.

The PEA area encompasses only 3 per cent of the 835-square-kilometre project area, and the broader land package is considered highly prospective for additional polymetallic sulphide deposits, with limited regional exploration to date resulting in the Yepleu discovery 25 kilometres to the south-southwest. Accordingly, the 2025 exploration program includes a regional exploration drilling designed to test one of the multiple polymetallic sulphide prospects, Mossikro, approximately 10 kilometres to the south-southwest of the PEA area, with the goal of potentially demonstrating the district-scale potential of the project.

Further details about the 2025 exploration program:

• Infill drilling comprising 3,000 metres is designed to convert inferred resources at the polymetallic Grata deposit into higher confidence indicated resources. The Grata deposit comprised nearly 70 per cent of the inferred resources used in the 2024 PEA, totalling 67.3 million tonnes grading 0.24 per cent nickel, 0.25 per cent copper, 0.01 per cent cobalt, 0.10 gram per tonne (g/t) platinum, 0.26 g/t palladium and 0.04 g/t gold.
• Resource expansion drilling comprising 1,000 metres at the polymetallic Samapleu Main deposit is designed to stepout from the currently defined mineral resources and delineate the southwest extension of the deposit. Limited drilling in the area intersected high-grade, copper-rich and polymetallic mineralization, including 11.90 metres grading 1.50 per cent copper, 0.50 per cent nickel, 0.02 per cent cobalt, 1.04 g/t platinum, 0.55 g/t palladium and 0.03 g/t gold.
• An airborne versatile time-domain electromagnetic (VTEM) geophysical survey completed in 2018 identified additional conductivity anomalies, similar to the Samapleu and Grata deposits. The regional exploration drill program includes 500 metres of drilling and will explore for the first time the Mossikro prospect, located 10 kilometres to the south-southwest of the PEA area, with potential for high-grade and polymetallic sulphide mineralization coincident with a strong conductivity anomaly and in the same ultramafic intrusive geology hosting the Samapleu and Grata deposits.
• SIMPAE, an Ivory Coast-based environmental consulting firm, will lead the environmental and social studies within the PEA area. SIMPAE will update previous studies at the Samapleu deposit and complete studies at the Grata deposit. The program will be completed to current national and international permitting standards to support the project's permitting and future development.

The joint venture maintains a strong commitment to community engagement and has undertaken a broad range of social initiatives to strengthen relationships with stakeholders and support the sustainable development of local communities. Several sanitation programs in villages near the Samapleu-Grata nickel-copper project have been completed, supplying waste collection equipment and promoting environmental awareness. In partnership with the Universite Polytechnique de Man in Ivory Coast, the joint venture continues to support academic growth and excellence by hosting more than 100 geologist trainees at the Samapleu-Grata nickel-copper project and supervising more than 30 undergraduate and master's theses. The Cote d'Ivoire Ministry of Mines invited the joint venture to participate in the SIREXE 2024 exhibition in Abidjan, where Sama chief executive officer Dr. Marc-Antoine Audet participated in a high-level panel discussion with the CEOs of other African mining industry leaders, Endeavour Mining PLC, Fortuna Mining Corp. and Perseus Mining, to explore the challenges and opportunities within Africa's extractive industries. The joint venture continues to support and engage in local festivals, celebrating the region's rich cultural heritage.

National Instrument 43-101 disclosures

A technical report entitled "NI 43-101 Preliminary Economic Assessment for the Samapleu and Grata Deposits Project" with an effective date of March 21, 2024, with respect to the Samapleu-Grata nickel-copper project was prepared under National Instrument 43-101 and filed on May 3, 2024. The technical report includes important information regarding the mineral resources and 2024 PEA disclosed in this news release, including the effective date of the mineral resource estimate, the key assumptions, parameters, and methods used to estimate the mineral resources and other factors that could materially affect the potential development of the mineral resources. For readers to fully understand the information in this news release, they should read the technical report in its entirety when it is filed on SEDAR+, including all qualifications, assumptions and exclusions that relate to the information to be set out in the technical report. The technical report is intended to be read as a whole, and sections should not be read or relied upon out of context.

The 2024 PEA is preliminary in nature and includes inferred mineral resources, considered too speculative in nature to be categorized as mineral reserves. Mineral resources that are not mineral reserves have not demonstrated economic viability. Additional trenching and/or drilling will be required to convert Inferred mineral resources to indicated or measured mineral resources. There is no certainty that the results of the 2024 PEA will be realized.

The independent qualified persons responsible for preparing the technical report include Todd McCracken, PGeo, Bahareh Asi, PEng, Kevan Ford, MEng, and Jason Van Schie, PEng, each from BBA International Inc., Chris Martin, CEng, an independent consultant, and Wilson Muir, PEng, from Knight Piesold Ltd.

All other scientific and technical information contained in this news release not related to the 2024 PEA has been reviewed, verified and approved by Dr. Audet, PGeo, the president and chief executive officer of Sama, and a qualified person as defined by National Instrument 43-101. Mr. Audet is not independent of Sama.

About Sama Resources Inc.

Sama is a Canadian-based, growth-oriented resource company focused on exploring the Samapleu nickel-copper project in Ivory Coast, West Africa. The company is managed by experienced industry professionals with a strong record of discovery. Sama is committed to advancing the Samapleu-Grata nickel-copper project. Sama's projects are located approximately 600 km northwest of Abidjan in Ivory Coast and are flanked to the west by the Ivorian and Guinean borders. Sama's projects are located adjacent to the large world-class nickel-cobalt laterite deposits of Sipilou and Foungouesso, forming a 125 km long new base metal camp in West Africa. Sama owns 40-per-cent interest in the Samapleu nickel-copper project in Ivory Coast with its joint venture partner Ivanhoe Electric owning 60 per cent.

The company is pleased to announce that effective July 1, 2025, the company will be transitioning from the basic OTC Pink Sheets to the enhanced OTC ID designation within the OTC Markets platform. This move marks a significant advancement in transparency, compliance and market presence as Sama Resources continues to elevate its profile with investors and regulators.

About Ivanhoe Electric Inc.

Ivanhoe Electric is a United States-domiciled minerals exploration company with a focus on developing mines from mineral deposits principally located in the United States. Ivanhoe Electric seeks to support American supply chain independence by finding and delivering the critical metals necessary for electrification of the economy, with a focus on copper. Ivanhoe Electric uses its accurate and powerful Typhoon geophysical surveying system, together with advanced data analytics provided by its 94.3-per-cent-owned subsidiary, Computational Geosciences Inc. (CGI), to accelerate and derisk the mineral exploration process as the company seeks to discover new deposits of critical metals that may otherwise be undetectable by traditional exploration technologies. Through the advancement of its portfolio of electric metals exploration projects, headlined by the Santa Cruz project in Arizona as well as other exploration projects in the United States, Ivanhoe Electric intends to support the United States' supply chain independence by finding and delivering critical metals necessary for the electrification of the economy. Ivanhoe Electric also operates a 50/50 joint venture with Saudi Arabian Mining company Ma'aden to explore for minerals on approximately 48,500 square km of underexplored Arabian Shield in Saudi Arabia.

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