Mr. Sven Gollan reports

TEAKO ANNOUNCES CLOSING OF OVERSUBSCRIBED PRIVATE PLACEMENT; WELCOMES STRATEGIC SHAREHOLDERS

Further to its press release dated April 10, 2026, Teako Minerals Corp. has closed a second and final tranche of its previously announced non-brokered private placement offering of common shares of the company. Pursuant to the second and final tranche of the offering, the company issued 12,270,501 common shares at a price of six cents per common share for total gross proceeds of approximately $736,230, resulting in an oversubscription of the offering.

The first tranche of the offering was subscribed by one of the company's largest German investors, together with new German investors and insiders, as previously disclosed in the company's press release dated Jan. 30, 2026. The second and final tranche attracted strong participation from both existing and new investors, with the majority based in Norway. A significant portion was subscribed by strategic investors K.A. Rasmussen AS, Torodd Rande (chief executive officer of K.A. Rasmussen) and Harald Sverdrup Industrier AS (the majority shareholder of K.A. Rasmussen). As a result, these parties now hold a combined direct and indirect ownership of approximately 7.99 per cent of the company.

K.A. Rasmussen is a family-owned group established in 1872 and one of the leading precious metals refiners and producers in the Nordic region. Headquartered in Hamar, Norway, the company offers refining, recycling and advanced processing of gold, silver, platinum and palladium, in addition to industrial catalyst systems, investment metals, and solutions for the jewellery and industrial markets. K.A. Rasmussen operates in multiple European countries and serves customers globally.

Chief executive officer Sven Gollan commented: "We are pleased to have successfully completed this financing, which, while taking longer than anticipated, ultimately resulted in a strong outcome for the company. The quality and composition of the additions to our investor base provide a solid foundation as we move forward with our strategic priorities."

The company did not pay any finders' fees in cash or securities under the offering. The common shares are subject to a four-month-and-one-day hold period. The company intends to use the net proceeds of the offering for anticipated exploration activities as well as general working capital purposes to allow the company to pursue its corporate objective of additional project deals and potential revenue-generating third party work.

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 and zinc in massive sulphides. 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, within its Norwegian project hub, owns 62 projects 100 per cent and holds a 10-per-cent economic interest in the four rare earth elements (REE) projects owned by Fritzoe Skoger AS and a 10-per-cent non-dilutive free carried ownership interest in a package of copper, gold and silver projects consisting of five projects owned by Nordic Minerals AS, a wholly owned subsidiary of United Minerals Australia Pty. Ltd. as further described on the company's website.

Teako's project hub, including the Lokken and Venna main projects, covers an extensive land package prospective for copper, cobalt, zinc, gold, silver, platinum group elements (PGEs), uranium, antimony, molybdenum, tungsten 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.

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