Mr. Keith Henderson reports

VELOCITY ACQUIRES COPPER-GOLD EXPLORATION PROPERTY IN NORTHERN GREECE

Velocity Minerals Ltd. has provided an update on project generation work in northern Greece. The company has been active in Greece for approximately 18 months, visiting historical mineral occurrences, completing geological mapping, rock sampling and prospecting. In connection with this generative strategy, the company is pleased to announce that it has been granted an exploration licence located in northern Greece (at the Miriofito property).

Miriofito copper-gold mineralization

Historically reported copper-gold mineralization has been observed in outcrop by the company's technical team during its reconnaissance work. Chip-channel rock sampling by the company (n equals 36) over widths of one metre to three metres returned encouraging grades from below detection to up to 6.61 grams per tonne gold, 0.3 per cent copper and 4.2 g/t silver (see the table below).

Miriofito is a polymetallic copper-gold-silver-lead-zinc vein-replacement type system hosted in a carbonate rock environment at the strongly sheared contact with mica and amphibolite schists. Gold-bearing sphalerite-chalcopyrite-covelline-galena-pyrite quartz veins are found in carbonate and in a strongly sheared marble-schist contact, as well as at places controlled by low-angle northwest faults in silicified mica gneiss.

The company is targeting carbonate replacement mineralization similar to that observed at the Olympias deposit, which is owned by Eldorado Gold (15.1 million tonnes at 8.97 g/t gold, 146 g/t silver, 4.9 per cent lead and 6.5 per cent zinc) and is part of the same belt. Copper-gold porphyry targets will also be evaluated due to the proximity of known porphyry deposits in the belt.

Readers are cautioned that the Olympias deposit discussed above is an adjacent property, that Velocity has no interest in or right to acquire any interest in the deposit, and that mineral deposits on adjacent or similar properties, and any production therefore or economics with respect thereto, are not in any way indicative of mineral deposits on Velocity's Miriofito property or the potential production from, or cost or economics of, any future mining of any of Velocity's mineral properties.

Next steps

The planned work program includes stream sediment screening of the entire exploration licence, as well as regional and detailed geological mapping. Geochemical rock and soil sampling and hydrothermal spectral analysis. Various geophysical surveys are planned to include 110 line kilometres of ground magnetics, 20 line km of induced polarization resistivity and ground gamma spectrometry. This initial work program is designed to delineate priority targets for drill testing and is expected to be the subject of a planned initial National Instrument 43-101 technical report. The company continues to evaluate additional staking and tender opportunities in the region.

Incentive stock options

The company announces that it has granted 3,565,000 common share stock options to various directors, officers, employees and consultants of the company and its affiliates. The options entitle the holder to purchase shares at a price of 17 cents per share for a period of five years from the issue date. Options will vest over three years, beginning six months from the date of issue and vesting in equal tranches biannually thereafter. Including this issuance, the company has set options representing 8.0 per cent of the issued and outstanding stock.

About Miriofito

The Miriofito property falls within the Kilkis mineral district, which is part of the Greek segment of the Serbo-Macedonian metallogenic province host of world-class copper-gold deposits. The 9.72-square-kilometre property has potential for multiple mineral deposit types, including carbonate replacement, vein and copper porphyry. The licence is granted for an initial three-year period. The project is in a remote, unpopulated area, located outside of Natura 2000 environmental protection areas.

Quality assurance/quality control

The work programs in Greece are designed and supervised by Georgi Magaranov, PGeo, qualified person as defined by National Instrument 43-101, consulting geologist who is responsible for all aspects of the work, including the quality control/quality assurance program. On-site personnel at the project rigorously collect and track samples, which are then security sealed and shipped to ALS Global laboratory in Romania for sample preparation and subsequent analysis. All rock samples are assayed using 30-gram fire assay with atomic absorption finish and ME-ICP41. Quality assurance and quality control procedures include the systematic insertion of standards and duplicates into the sample streams. Field duplicate samples are taken every 25 samples, and standards and blanks are inserted after every 20th sample. All data collected in the field and assay results from the laboratories are routinely verified and entered in a master database.

Qualified person

The technical content of this release has been approved for disclosure by EurGeol Georgi Magaranov, a qualified person as defined by NI 43-101. Mr. Magaranov is not independent of the company as he is a consultant to the company and holds incentive stock options.

About Velocity Minerals Ltd.

Velocity is a precious metal and copper explorer focused in Europe. Velocity has entered into definitive agreements to sell all of its Bulgarian assets, through a share purchase and option agreement made as of Feb. 24, 2025, with Turker Global Madencilik Sanayi Ve Ticaret AS. Closing is subject to customary conditions precedent, including, without limitation, receipt of all necessary shareholder, board, third party and regulatory (including TSX Venture Exchange) consents and approvals. The transaction requires a favourable vote of 66-2/3rds per cent of the votes cast by Velocity shareholders, and Velocity has set a shareholder meeting date of April 15, 2025, to approve the transaction.

We seek Safe Harbor.