Mr. Rodrigo Roso reports

SCOTIA METALS IDENTIFIES FIVE SPODUMENE BOULDER TRAINS GRADING UP TO 3.40% LI2O AT ITS ACADIA LITHIUM PROJECT, LESS THAN 8 KILOMETRES UP-ICE OF THE BRAZIL LAKE DEPOSIT

Scotia Metals Corp. has released results of first-pass prospecting at its 100-per-cent-owned Acadia lithium project in southwestern Nova Scotia, where five high-grade spodumene boulder trains grading up to 3.40 per cent Li2O (lithium oxide) have been identified less than eight kilometres up-ice of Brazil Lake, the only proven spodumene deposit in the province.

Highlights:

• Scotia Metals has identified 32 high-grade spodumene boulders assaying 1.0 per cent to 3.40 per cent Li2O, including seven samples between 2.00 per cent and 3.40 per cent Li2O across five discrete boulder trains defined over an area of approximately three kilometres by one kilometre at the Acadia project's Green Wolf target.
• The company controls the majority of ground to the north and south of Brazil Lake, Nova Scotia's only known spodumene deposit. The Acadia project comprises 43 exploration licences covering 37,268 hectares and 2,320 mineral claims, spanning more than 80 kilometres of prospective LCT (lithium/cesium/tantalum) pegmatite strike on trend to the north and south of Brazil Lake.
• Scotia's team believes the up-ice arithmetic points to a local source. Documented glacial transport distances of spodumene boulders at the Brazil Lake deposit are typically from 50 metres away to less than one kilometre (700 m). Green Wolf spodumene boulders are located less than eight kilometres up-ice of Brazil Lake, indicative of a potential new LCT pegmatite swarm. The boulders are angular, fresh and largely unweathered, with fresh coarse-grained spodumene crystals showing salmon-pink UV (ultraviolet) fluorescence, characteristics interpreted to potentially indicate proximal bedrock sources within the company's licences.
• The Acadia project has excellent access to infrastructure, making it among the best-served lithium projects in North America. The Shelburne port (13-metre draft) is one hour by paved highway; the Yarmouth port is 15 minutes away; grid power runs within approximately 14 kilometres of the project; water is readily available across the project; the temperate coastal climate permits year-round drilling. Halifax is approximately 300 kilometres away.
• The company has a highly experienced leadership team. Scotia's directors and officers have significant successful records in mining exploration and development and have built or implemented hard-rock lithium operations on four continents.
• The company has 48,582,740 shares outstanding on a fully diluted basis. A concurrent financing of $5.8-million was completed on listing. The company is financed through completion of the current target-definition program.
• Lithium prices have recovered sharply. Lithium (6 per cent Li2O concentrate) traded at $2,240 (U.S.) per tonne on Aug. 18, 2026, with prices sustaining an upward trend above $1,800 (U.S.) per tonne since January, 2026.
• Hard-rock spodumene offers an established and scalable development pathway. Hard-rock lithium projects use conventional mining and processing methods, provide directly measurable grades, and are not dependent on evaporation or climate conditions for lithium recovery.

"The Acadia project shows the same geological signature I have seen on other projects I was involved in, particularly at Grota do Cirilo and Bandeira. Coarse, angular spodumene in surface float has been the first evidence of pegmatite swarms that later supported operating mines at systems I have worked on. What matters at Green Wolf is the behaviour right next door: Glacial transport at Brazil Lake is documented from as far as 50 metres to less than a kilometre, and Green Wolf's boulders sit less than eight kilometres up-ice, on the same regional trend as Brazil Lake, in five separate aligned trains rather than one. It points to multiple bedrock sources, typical of LCT pegmatite swarms, and it points to them being on our ground. Detailed till sampling and geophysics will tell us where to put the first hole," stated Brian Talbot, chairman of Scotia Metals.

Priority target: Green Wolf

Multiple spodumene-bearing boulder trains have been identified at Green Wolf through first-pass prospecting. At least five trains have been defined over an approximately three-kilometre-by-one-kilometre area, comprising 32 samples grading 1.0 per cent to 3.40 per cent Li2O, of which seven returned between 2 per cent and 3.40 per cent Li2O. Individual spodumene crystals show salmon-pink UV fluorescence, consistent with fresh, largely unweathered, high-grade spodumene.

Most boulder trains are aligned along and coincident with north-northeast structural trends, which match both the regional structural fabric and the Brazil Lake pegmatite trend. Documented glacial transport distances of spodumene boulders at the Brazil Lake deposit are typically from 50 m away to less than one kilometre (700 m). Green Wolf lies less than eight kilometres up-ice of that deposit, indicative of potential new LCT pegmatite sources. Taken together with the angular, unweathered character of many of the boulders, the company interprets the source LCT pegmatites could potentially lie within the Acadia project's land package. Glaciation is why the target exists: The ice sheet stripped and dispersed the bedrock, leaving a debris trail that could point back to its source.

Independent data sets, including government lake-sediment geochemistry, geophysical structural and radiometric anomalies, high-resolution lidar, and till sampling, converge on the same area, defining multiple first- and second-order targets at Green Wolf, none of which has been drill tested.

The district: one proven spodumene deposit, 80 kilometres of untested strike

Nova Scotia has historically been explored for gold and tin, with minimal modern lithium exploration. The Brazil Lake deposit is the only known spodumene deposit in the region, and the company believes it could potentially be part of a larger provincial system that is fertile and capable of hosting multiple sources of economic lithium mineralization. Brazil Lake hosts three known spodumene-rich dikes (part of a larger swarm), in a setting consistent with other major global LCT pegmatite provinces.

Scotia controls most of the claims along strike of Brazil Lake to both the north and south, sharing the same host-rock geology and structural architecture. The company's land package spans more than 80 kilometres of prospective strike across 43 licences, 37,268 hectares and 2,320 mineral claims and is located on the U.S. East Coast EV (electric vehicle) and battery supply-chain corridor.

Infrastructure: established port, power and paved road

Most emerging hard-rock lithium districts share one major economic hurdle: The orebody lacks adequate infrastructure and sits far from port, so the deposit itself must finance that infrastructure. That requirement raises the tonnage and grade a project must prove up before it can be financed, and it lengthens the path from discovery to a construction decision.

Acadia has excellent access to infrastructure. The Shelburne port, a one-hour drive from the project, offers a 13-metre draft suitable for deepwater vessels and barges; the Yarmouth port is a 15-minute drive away; and the Halifax port, approximately 312 kilometres away, offers a 17-metre draft with year-round ice-free operation and global shipping and rail connectivity. The project is served by Halifax International Airport and Yarmouth Airport, an extensive paved road network crossing the project and right next to Green Wolf, ample water, and a major transmission line approximately 14 kilometres from the project. The temperate coastal climate permits drilling 12 months a year.

Nova Scotia has identified critical minerals as a priority sector and supports the industry through the NovaMine permitting portal, the Mineral Resources Development Fund and the provincial Capital Investment Tax Credit.

"Brazil Lake has one proven spodumene deposit, and we own the ground on both sides of it. Our task over the next few months is a clear one: Turn the boulder trains into ranked bedrock targets using till sampling and geophysics before we spend a dollar on a rig. This team has built lithium operations on four continents and has taken juniors to acquisitions, and we would rather be measured on what we deliver than on what we describe," stated Rodrigo Roso, chief executive officer and a director of Scotia Metals.

Leadership team: a proven record:

• Mr. Talbot, chairman -- senior operating leadership at Galaxy Resources through its $6-billion (U.S.) merger with Orocobre, which created Allkem, subsequently merged with Livent to form Arcadium Lithium and acquired by Rio Tinto; was responsible for the implementation of Grota do Cirilo (Sigma), Highbury (South Africa Lithium), Bandeira (Lithium Ionic); and had leading positions at Bikita (Sinomine), among other projects; director of RTEK International;
• Mr. Roso, chief executive officer and director -- 20 years in M&A (merger and acquisition) and greenfield project delivery, with in-house and advisory roles at Sigma Lithium, Lithium Ionic, Mosaic, Vale and Yamana; Americas managing partner of RTEK International;
• Nick Rowley, director -- structured offtake and financing for Bandeira, Grota do Cirilo and Highbury; former director of corporate development at Galaxy Resources through the Galaxy-Orocobre merger; chief executive officer of RTEK International;
• James Abson, vice-president, exploration -- 30 years of LCT pegmatite exploration and resource evaluation, as well as mine grade control, including at Manono, Bikita, Arcadia, Kamativi, Neves, Bandeira and Salinas; including former high-level technical roles at Oceana Lithium and Atlas Lithium;
• Shawn Khunkhun, director -- led Dolly Varden Silver from a market capitalization of approximately $20-million to its 2026 merger into Contango at a greater-than-$700-million valuation; has participated in over $3-billion (U.S.) of capital raised across multiple commodity cycles;
• Darryl Cardey, director -- co-founder of Northern Empire Resources (acquired by Coeur Mining), Underworld Resources (acquired by Kinross Gold) and K92; CPA and principal of CDM Capital Partners;
• Alan Sye, chief financial officer -- CPA; former senior finance roles at BHP and South32.

Next steps: sampling and geophysics to establish and prioritize drill targets

At Green Wolf, detailed till sampling is under way across all five boulder trains, followed by ground geophysics to build and rank drill targets. The company expects to complete target definition and publish a ranked first-order drill target inventory, together with the design and timing of the initial scout program, on completion of that work.

Regionally, Scotia is currently working on infilling high-resolution geophysics and interpreting results across the North, Central and South blocks, completing first-pass mapping and prospecting at a regional scale to identify additional spodumene-bearing pegmatite districts, and conducting regional till sampling to define new lithium target corridors ahead of the next wave of drill targets.

Grant of restricted share units

Additionally, the company announces that it has granted 2.5 million restricted share units (RSUs) to directors, officers and consultants of the company in accordance with the company's omnibus incentive plan, which will vest over a two-year term. The RSUs are subject to a four-month hold period in accordance with applicable CSE requirements.

Sampling, analytical method and quality control

The results reported in this news release are from selective grab samples of boulders collected during first-pass prospecting. Grab samples are selective by nature and the results reported may not be representative of the grade, style or continuity of mineralization on the property. Boulder samples do not, on their own, demonstrate the presence of bedrock mineralization.

Adjacent property disclosure

Scotia Metals has no interest in or rights to the Brazil Lake property. Information in this news release regarding Brazil Lake has been sourced from public disclosure by third parties and has not been verified by a qualified person on behalf of the company.

A report prepared for the Brazil Lake project under the JORC Code (2012) reported 10.01 million tonnes at 1.20 per cent Li2O at a cut-off grade of 0.33 per cent Li2O. Readers are cautioned that the JORC estimates apply a different cut-off grade than the National Instrument 43-101 estimate.

The historical estimates referenced above were prepared by third parties and have not been verified by a qualified person for the company under NI 43-101. A qualified person has not done sufficient work to classify these historical estimates as current mineral resources, and the company is not treating them as current mineral resources. Readers are further cautioned that mineral resources are not mineral reserves and do not have demonstrated economic viability and that exploration results and mineralization on adjacent or nearby properties, including Brazil Lake, are not necessarily indicative of mineralization on the company's properties.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by James Abson, vice-president, exploration, of Scotia Metals and a qualified person as defined by NI 43-101. Mr. Abson is not independent of the company.

About Scotia Metals Corp.

Scotia Metals is a mineral exploration company focused on the acquisition and advancement of lithium and battery metals projects. Its principal asset is the 100-per-cent-owned Acadia lithium project (formerly known as the L3 lithium project) in southwestern Nova Scotia, Canada, comprising 43 exploration licences covering 37,268 hectares and 2,320 mineral claims, the largest lithium land package in Atlantic Canada, and spanning more than 80 kilometres of prospective LCT pegmatite strike on trend with the Brazil Lake spodumene deposit. The project benefits from deepwater port access, grid power, paved road and airport infrastructure, and year-round operating conditions.

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