Mr. Tyler Thorburn reports

TOTAL METALS COMPLETES ACQUISITION OF MENARY GOLD PROJECT

Total Metals Corp. has closed its acquisition of the Menary gold project, as previously announced on Dec. 22, 2025.

Menary gold project

As previously disclosed in the company's press release dated Dec. 22, 2025, the property consists of 27 mining claims and one mining lease comprising an area of 276.5 hectares and is strategically located in the Kenora mining division of Ontario. The property shares a common southern boundary with claims owned by Coeur Mining Inc., contiguous with its Rainy River mine, an approximately $7-billion (U.S.) acquisition of New Gold Inc. that was completed on March 20, 2026.

Menary property highlights:

• Galbraith A zone grab samples: exceptional high-grade grab samples returning 8,120 grams per tonne Au (gold), 1,885 g/t Au and 1,400 g/t Au, confirming the presence of bonanza-grade shoots;
• Galbraith A channel sampling: continuous channel sampling across the shear structure returned 243.00 g/t Au over 1.0 metre and 45.38 g/t Au over 1.0 metre, demonstrating width continuity of the high-grade zones;
• Wagg zone drilling: diamond drill hole MIN-11-18 intersected 16.99 g/t Au over 6.3 metres (core length), identifying a new, previously unknown mineralized zone at depth;
• Strategic location: the Menary property is located approximately 65 kilometres northwest of Fort Frances and borders the land package of the Rainy River mine. The recent acquisition of New Gold by Coeur Mining for an estimated $7-billion validates the district as a premier North American mining jurisdiction.

Transaction details

Pursuant to the option agreement, the Destroismaisons granted the company an exclusive right to acquire a 100-per-cent interest in the property, subject to an existing NSR (net smelter return), by making aggregate payments of $1.01-million in cash and issuing $1.01-million in common shares in the capital of the company over a four-year period.

The consideration is structured as follows: (i) $210,000 in cash and $210,000 in shares within five days of TSX Venture Exchange acceptance (the first payment); and (ii) $200,000 in cash and $200,000 in shares on each of the first, second, third and fourth anniversaries of the acceptance. Share issuances will be priced based on the prior 20-day volume-weighted average price of the shares trading on the TSX-V. Upon completion of all payments and share issuances, the company will have earned a 100-per-cent interest in the property, subject to the net smelter royalty of 4.5 per cent payable to Western Troy Capital Corp. (as to 3 per cent) and William McNerney (as to 1.5 per cent) (the NSR).

The transaction was arm's length. The first payment, consisting of a cash payment of $210,000 and the issuance of 507,678 common shares at a deemed price of 41.365 cents per share, was made on Friday, March 20, 2026. The shares are subject to a standard four-month-and-one-day hold period, as required by National Instrument 45-106 -- Prospectus Exemptions and are not subject to any additional escrow or resale restrictions.

Qualified person

Robert Penczak, MSc, PGeo (Ontario), vice-president of exploration for the company and a qualified person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical information used in this news release.

About Total Metals Corp.

Total Metals is focused on its 100-per-cent-owned Electrolode project covering over 3,300 contiguous hectares in Northwestern Ontario. The Electrolode project is targeting high-potential critical mineral plus gold resources and targets in three favourable geologic trends, located near major mines in the Red Lake Gold camp and is strategically located between Kinross Gold's Great Bear project and First Mining Gold's Springpole project. The Electrolode project is fully permitted for exploration drilling and hosts 10 historic mineralized zones with significant expansion potential plus new, untested targets ready for further exploration. Total Metals also owns 100 per cent of the High Lake and West Hawk Lake project covering 958 hectares in two gold properties located along the Trans-Canada Highway straddling the Manitoba/Ontario border. The Purex zone on the High Lake property has significant exploration potential and will be the primary target for initial exploration and potential future mining activities. The West Hawk Lake property comprised a single mineral lease, located within southeastern Manitoba.

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