Mr. David Greenway reports

VANGUARD MINING ANNOUNCES COMMENCEMENT OF EXPLORATION ACTIVITIES AT THE NUCLEON URANIUM PROJECT, ATHABASCA BASIN

Vanguard Mining Corp. has commenced exploration activities at the Nucleon uranium project located in Saskatchewan's Athabasca basin, a well-established uranium-producing region. The project consists of four exploration areas situated within regional geological trends associated with uranium mineralization in the basin.

As previously disclosed in the company's news release dated Jan. 13, 2026, Vanguard has engaged Hardline Exploration Ltd., a Canadian geological consulting and project management firm, to manage and execute the initial exploration program across the company's seven mineral claims.

The Nucleon project is in the Athabasca basin and is organized into four exploration areas totalling 23,424.90 hectares (approximately 57,880 acres), a region known for hosting high-grade uranium deposits and playing an important role in Canada's nuclear energy sector.

David Greenway, chief executive officer of Vanguard Mining, commented: "The Nucleon project provides the company with a district-scale land position in Saskatchewan's Athabasca basin, a top-tier uranium-producing jurisdiction. The project is located within a regional geological setting that hosts several significant uranium deposits, including Fission Uranium's Patterson Lake South deposit and NexGen Energy's Arrow deposit. The company's land package totals more than 23,000 hectares, and the company has not identified records of recent systematic modern exploration on the claims.

"Exploration activities are now under way through a geochemical screening program conducted by Hardline Exploration, which is designed to evaluate the property and identify areas for follow-up work in a systematic and technically informed manner."

Location and exploration approach

The company's four target areas are located within regional geological trends in the Athabasca basin that host uranium exploration and development activity. Hardline Exploration will incorporate regional geological interpretations and publicly available data from nearby projects in the analysis of geochemical results from the Nucleon project. This approach is intended to support the identification and prioritization of areas for follow-up exploration based on geological and geochemical characteristics associated with uranium mineralization.

Phase 1 exploration program -- spring 2026

Vanguard has engaged Hardline Exploration to carry out a structured exploration program across the Nucleon uranium project. The phase 1 program will focus on evaluating the company's land package through a lake sediment geochemical survey designed to assess the distribution of uranium and associated pathfinder elements across the seven mineral claims.

Sampling will be conducted under winter conditions, allowing access to frozen lake surfaces, and facilitating systematic and efficient sediment collection. Lake sediments are commonly used in the Athabasca basin, as they can capture geochemical dispersion from underlying bedrock through groundwater movement and glacial transport processes.

The program is expected to be completed in Q2 and will include:

• Systematic lake sediment sampling across all claim blocks;
• Multielement geochemical analysis targeting uranium and associated pathfinder elements (that is, U, Th, Pb, Ni, Co, REEs);
• Interpretation and mapping of geochemical anomalies;
• Prioritization of areas for follow-up exploration.

Results from the phase 1 program will be used to evaluate and rank exploration areas and to support the planning of subsequent exploration activities, which may include ground geophysics, radiometric surveys, geochemical sampling, permitting and consultation with relevant stakeholders prior to potential drill testing.

The company cautions that the presence of uranium mineralization, deposits or discoveries on nearby properties, including those operated by third parties, is not necessarily indicative of mineralization on the Nucleon project.

Western Athabasca geological setting

The western portion of the Nucleon uranium project is situated within a regional structural corridor of the Athabasca basin that hosts several known uranium deposits, including Fission Uranium's Patterson Lake South (PLS) deposit and NexGen Energy's Arrow deposit. These deposits are spatially associated with basement-hosted and unconformity-related uranium systems controlled by major fault zones, graphitic conductors and reactivated basement structures.

The company's western Nucleon claims are located within this broader geological setting and will be evaluated based on their proximity to interpreted structural features, conductive trends and geochemical indicators considered relevant in the exploration for Athabasca basin uranium deposits.

About the Nucleon uranium project

The Nucleon uranium project consists of seven exploration-stage mineral claims totalling 23,424.90 hectares (approximately 57,880 acres) in Northern Saskatchewan, Canada, within the Athabasca basin, a well-established uranium-producing region.

The project is divided into four exploration areas, each situated within or adjacent to regional geological trends associated with uranium mineralization.

Northwestern claims

Located immediately north of properties held by Fission Uranium Corp. and approximately five kilometres north of properties held by Orano Canada.

North-central claims

Located in proximity to properties held by Rio Tinto Canada and Apollo Metals.

Central claims

Contiguous with properties held by Atha Energy Corp. and CanAlaska Uranium Ltd., and adjacent to claims held by Allied Corp.

Eastern-central claims

Surrounded by properties held by Atha Energy Corp. and located north of claims held by Cameco Corp.

Together, these four areas provide the company with a district-scale land position within an active uranium exploration region.

As of the date of this news release, the company has not identified records of significant recent systematic modern exploration on the Nucleon mineral claims. Exploration activities are at an early stage, and there is no assurance that economically viable mineralization will be identified.

The company cautions that the presence of uranium mineralization, deposits or discoveries on nearby or adjacent properties, including those referenced above, is not necessarily indicative of the presence, extent or grade of mineralization on the Nucleon project.

About Hardline Exploration Corp.

Hardline Exploration is a geological consulting and project management company based in Smithers, B.C. The company specializes in early to advanced-stage mineral exploration, offering comprehensive services including geological mapping, geochemical and geophysical program design, data interpretation, and project management. Hardline has a strong record of executing cost-effective, technically robust field programs across Western Canada.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Lawrence Segerstrom, PGeo, MSc, MBA, a consulting geologist retained directly by Vanguard Mining and a qualified person as defined under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. Mr. Segerstrom is not independent of the company within the meaning of NI 43-101.

About Vanguard Mining Corp.

Vanguard Mining is a Canadian mineral exploration company focused on the discovery and development of high-value critical minerals, with a primary focus on uranium. The company maintains a diversified portfolio of exploration-stage properties across Canada, Paraguay and Argentina, including the Nucleon uranium project in Saskatchewan's Athabasca basin, the Yuty Prometeo uranium project in Paraguay, the Redonda copper-molybdenum property in British Columbia, and additional properties in Ontario and Saskatchewan. Vanguard is committed to responsible exploration and value creation through the systematic advancement of strategically acquired mineral assets.

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