Mr. Tyler Thorburn reports

TOTAL METALS ACQUIRES 100% INTEREST IN THE HIGH-GRADE PICK LAKE CRITICAL MINERALS PROPERTY FROM FRONTIER ENERGY LIMITED

Total Metals Corp. has acquired a 100-per-cent interest in the mineral rights underlying the Pick Lake critical minerals property from Frontier Energy Ltd. and Frontier's wholly owned subsidiary, Pick Lake Mining Ltd. The acquisition was completed on a purchase and sale agreement dated April 15, 2026.

"This project is one of the absolute best, high-grade critical mineral assets in the world," stated Tyler Thorburn, president and chief executive officer. "Pick Lake resides in the prolific mining jurisdiction of Northwestern Ontario and aligns with our goal of acquiring and advancing spectacular Canadian high-grade assets in Tier 1 mining jurisdictions."

"The exploration upside at Pick Lake is absolutely phenomenal," commented Michael Dehn, executive chairman. "When you look at the sheer scale of this expansive land package and the concentration of historical mineral occurrences that have barely been scratched by modern techniques, the potential for new discoveries is incredibly exciting. We have a robust pipeline of historical targets with all the right geological signatures ready for follow-up. We are eager to get to work and uncover the true, district-scale potential of this high-grade system."

Pick Lake critical minerals property

The Pick Lake property, consisting of 75 claims and a mining lease covering over 5,260 hectares, is accessible through a road connected to the Trans-Canada Highway to the south.

The property is located within the Winston Lake greenstone belt, which is part of the Archean Wawa-Abitibi terrane of the Superior province of the Canadian Shield. Within the Winston Lake greenstone belt, the Winston Lake sequence comprises of a series of predominantly felsic to intermediate volcanics, volcaniclastics and sediments with minor mafic flows, all with a calc-alkalic affinity. The sequence reaches a maximum thickness of two kilometres and a strike of approximately six kilometres. A gabbroic intrusive marks the contact with the adjacent Bick Duck Lake assemblage, which occupies the northern third of the property. The Big Duck Lake assemblage and later felsic intrusives are known to host several gold occurrences in the belt.

The Pick Lake deposit, within the Pick Lake critical mineral property, has an average strike length of approximately 250 metres and a depth extension tested between 300 to 1,200 metres. Mineralization at Pick consists of massive fine- to medium-grained sphalerite, pyrrhotite, with minor chalcopyrite and pyrite.

The calculated resource is 1.78 million tonnes at 19.2 per cent zinc, 0.9 per cent copper, 0.3 gram per tonne gold and 36.1 grams per tonne silver indicated and 270,000 tonnes at 16.4 per cent zinc, 1.0 per cent copper, 0.3 gram per tonne gold and 38.0 grams per tonne silver inferred (National Instrument 43-101, Section 2.2a).

Transaction details

Pursuant to the acquisition, the company paid Pick Lake Mining $2.2-million in cash for the project. No securities were issued in connection with the acquisition. The acquisition is an arm's-length transaction for the purposes of the policies of the TSX Venture Exchange and qualifies as an exempt transaction under TSX-V Policy 5.3. No finders' fees were payable in connection with the acquisition. For more information regarding the acquisition, please refer to the purchase and sale agreement, a copy of which is available on the company's SEDAR+ profile.

There is an existing royalty consisting of a 2-per-cent net smelter return payable to a previous owner of the property, 50 per cent of which may be bought back for $1-million.

The acquisition is not considered a fundamental acquisition of the company, pursuant to the policies of the TSX-V as the company remains focused on the exploration and development of its Electrolode project, with approximately $2.4-million been spent on the property to date. The Electrolode project continues to be the material property of the company and is expected to be the focus of the company over the next 12-month period. The acquisition was conducted in the normal course of the company's operations.

Qualified person

Robert Penczak, MSc, PGeo (Ontario), vice-president of exploration for the company and a qualified person as defined by NI 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 comprises a single mineral lease, located within southeastern Manitoba.

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