Mr. Sven Gollan reportsr

TEAKO ADVANCES VMS TARGET DEFINITION AT MOSTADMARKA ON THE VENNA PROJECT

Teako Minerals Corp. has received laboratory results for 61 rock chip samples taken as part of the 2025 sampling program in the Mostadmarka target area of its 100-per-cent-owned Venna copper-cobalt-zinc (Cu-Co-Zn) massive sulphide (VMS) main project. Teako's recent field review of the extensive ironworks trend within Mostadmarka and the southern magnetic trend (see company press release dated Nov. 26, 2025) determined that the formations (greater than 20 kilometres cumulative strike length) of jasper and quartz-magnetite cherts at Mostadmarka could be interpreted as distal indicators of Cu-rich VMS deposits.

Initial interpretations of the laboratory results have resulted in (i) the identification of three high-priority VMS targets (Navra, Heingruva, Storslatten) within the ironworks trend (approximately 10 km strike extent) and the southern magnetic trend (approximately 10 km strike extent) at Mostadmarka, exhibiting indications that the iron formations at Mostadmarka formed from high-temperature VMS-fertile fluids suggesting potential for buried massive sulphide mineralization in the area, (ii) a robust characterization of the host volcanic rocks at Mostadmarka, and (iii) provided a better understanding of the geological setting of the previously identified Sandsve high-grade Cu occurrence (Sandsve-2 at 2.5 per cent Cu (copper)) situated to the west and along strike of Storslatten at the southern magnetic trend, suggesting a potential connection to buried massive sulphide mineralization.

Highlights

• Three high-priority VMS targets have been identified for follow-up work: Navra, Heingruva and Storslatten.
• The Navra target has been identified through a cluster of sulphide and trace element enriched samples over approximately 1.2 kilometres within the ironworks trend, with potential indications of hydrothermal replacement at the target.
• The Heingruva target in the ironworks trend is highlighted by four samples showing a hydrothermal exhalative composition, including two with prospective indicators of a proximal hot hydrothermal vent source.
• The Storslatten target in the southern magnetic trend contains geochemical and textural indicators of hydrothermal stringer veins along strike of a geophysical (airborne electromagnetic) anomaly stretching over approximately 2.2 km.
• The previously identified Sandsve high-grade Cu occurrence (Sandsve-2 at 2.5 per cent Cu) is situated to the west and along strike of the Storslatten target in the southern magnetic trend, suggesting a potential connection to buried massive sulphide mineralization in the area.

The Venna project geochemical results

The primary objective of this geochemical study was to investigate the extensive iron formations within the Mostadmarka ironworks trend for geochemical indications of VMS-fertile hydrothermal activity. Eighteen samples were collected from oxide facies iron formations (for example, Jaspers, Magnetite Cherts) and a further 11 samples were collected of sulphide facies horizons (locally termed Vasskis). Within the oxide group, the laboratory results have distinguished two styles of iron formation which both show promising indications. The first group is clustered on the historical Navra Ironworks, where 11 samples over approximately 1.2 km of strike show elevated sulphur (up to 2.62 per cent), base metal (up to 305 parts per million Cu (copper) plus Pb (lead) plus Zn (zinc)) and pathfinder element (for example, up to 59 ppm As (arsenic) and 6.16 ppm Sb (antimony)) concentrations indicating the influence of a prospective hydrothermal source at the Navra target. These 11 samples also have a notable Al2O3 content for iron formations (average 2.59 per cent), and comparable signatures in the literature from Kuroko, Japan and the Tyrone igneous complex, Northern Ireland, suggest formation via hydrothermal replacement over exhalative processes (Hollis et al., 2015). In long-lived hydrothermal systems, replacement-style processes can be favourable for both higher-grade and larger tonnage sulphide deposits (Piercey, 2015). Future studies at Venna will aim to screen for textural indications of replacement processes at Navra and other arising targets, and efforts will be made to identify and map out more permeable units (for example, tuffs, breccias, agglomerates) that could be more readily exploited by hydrothermal fluids.

The second group is characterized by a lower Al2O3 content (average 0.51 per cent), indicating a more pure hydrothermal exhalative lithology. As a result, the rare-earth element (REE) composition of these samples can be expected to more closely match their source. Two samples taken from the Heingruva target at the western end of the ironworks trend show prospective positive Eu anomalies, an indicator of hot hydrothermal fluids venting at the paleo-seafloor. Both Navra and Heingruva present clear targets for follow-up investigations, and this study indicates that further sampling along the ironworks trend has the potential to identify further prospective hydrothermal centres.

Within the Vasskis group, two samples from a new sulphide occurrence identified at the Storslatten airborne electromagnetics (FDEM) target within the southern magnetic trend and two samples taken approximately four km SW (southwest) and along strike of Storslatten showed elevated As, Sb, Ag, Mo (molybdenum), Tl (thallium) and K (potassium). This pattern, along with elevated pXRF SiO2 values (interpreted as a proxy for quartz veining) and lower light REE concentrations when compared with other Vasskis samples at Venna, indicates a hydrothermal origin for these sulphides. With no graphitic schists on regional geological maps, the company currently interprets the Storslatten FDEM anomaly to be a result of concealed sulphide mineralization, presenting a compelling approximately 2.2 km of prospective strike for the company to investigate further.

The secondary aim of this study was to better characterize the host volcanic rocks of the Venna project. Samples from this program have confirmed the Mostadmarka ironworks trend is hosted by a sequence of basaltic- to basaltic-andesite lavas and volcaniclastics from an enriched mantle source, positioning this trend in the upper portion of the Mostadmarka formation (Gasser et al., 2021). Samples also indicate that the southern magnetic trend was largely hosted by mid-ocean ridge basalt (MORB) volcanic rocks of the lower Mostadmarka formation (Gasser et al., 2021).

Next steps

Further review of the data is required, alongside comparison with the geochemical signatures of known VMS deposits (for example, the historical Lokken mine) to ascertain similarities in the data which may lead to the identification of new areas of exploration. Additional higher-resolution geochemical sampling programs over the new targets and other high-resolution surveys are anticipated to refine and advance potential drill targets at Venna.

Quality assurance/quality control (QA/QC)

All rock chip samples collected from the Venna project were submitted to ALS Laboratories in Pitea, Sweden, for sample preparation and subsequent analysis. Samples were analyzed through a combination of ICP-MS and -AES techniques (ALS codes ME-MS61r, ME-ICP06, ME-MS81, ME-MS42 and ME-4ACD81) plus loss on ignition. Analyses for QA/QC protocols (standards, duplicates, blanks) were restricted to those undertaken internally by ALS Laboratories. ALS Laboratories is an ISO 9001:2015 and ISO/IEC 17025:2017 accredited laboratory.

Qualified persons and disclosure statement

The technical information presented in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, and reviewed and approved by Eric Roth, a non-executive director of Teako and qualified person under NI 43-101. Mr. Roth holds a PhD in economic geology from the University of Western Australia, is a fellow of the Australian Institute of Mining and Metallurgy (AusIMM) and is a fellow of the Society of Economic Geologists. Mr. Roth has over 35 years of experience in international minerals exploration and mining project evaluation.

About Teako Minerals Corp.

Teako Minerals is a Vancouver-based mineral exploration company committed to acquiring, exploring and developing mineral properties in Norway, focusing on critical metals such as copper, cobalt, zinc and molybdenum. By leveraging leading-edge exploration technologies and strategic partnerships, Teako aims to address the growing demand for essential minerals while generating value for shareholders and stakeholders alike.

Teako's Project Hub, including the Lokken and Venna main projects, covers an extensive land package prospective for copper, cobalt, zinc, gold, platinum group elements (or PGE), uranium, antimony, molybdenum and rare-earth-elements.

The Project Hub strategy was initially developed from the company's first-mover advantage in-country, leveraging both technical skill and strong local community engagement to acquire and advance groups of both core and non-core assets. Core assets such as the Lokken-Venna district remain integral to the company's self-financed exploration programs, whereas the company aims to retain exposure to exploration success on non-core assets through securing deals with strong partners. These deals, if secured, are intended to potentially bring in capital and/or continuing cash flow, retain upside exposure, and reduce overall risk, thereby strengthening Teako's foundation. Teako holds a 10-per-cent economic interest in the Hulderdalen, Moelva, Kvelde and Skarafjell projects owned by Fritzoe Skoger AS.

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