Mr. Kerem Usenmez reports

VOLTA CONSOLIDATES SPRINGER LAND PACKAGE INTO A SINGLE CONTIGUOUS BLOCK, SECURING CLEAR PATH TO 100% OWNERSHIP OF SPRINGER REE-GALLIUM DEPOSIT

Volta Metals Ltd. has entered into a definitive agreement to acquire a 100-per-cent interest in three contiguous unpatented mining claims (mining claim numbers 722235, 722236 and 722237, collectively the acquired claims) adjoining its Springer rare-earth element deposit, near Sturgeon Falls, Ont. The acquisition consolidates the ground surrounding the deposit into a single, contiguous block and gives Volta a clear path to 100-per-cent ownership of the entire Springer project land package.

Highlights

• Clear path to 100-per-cent ownership: Volta has agreed to acquire the three contiguous unpatented mining claims, immediately east of the Springer deposit, tying together every patent and claim that makes up the project into a single, wholly Volta-owned land block.
• New exploration ground: The acquired claims are entirely undrilled and unexplored, sitting directly along the eastward extension of rare-earth-element-gallium mineralization that remains open beyond Springer's current 176 Mt (million tonnes) resource (56.6 Mt indicated plus 119.5 Mt inferred).
• Improved site access: Opens a short, direct route into the deposit and the eastern resource-expansion area from Highway 64.
• Disciplined deal structure: Six hundred thousand shares and 2-per-cent NSR (net smelter return) royalty (with Volta retaining the right to buy back half of the royalty) -- a modest cost to consolidate full control of the project.
• Reinforces top-10 North American REE deposit status: Builds on Springer's February, 2026, mineral resource estimate update, which placed the deposit among the top 10 largest rare-earth deposits in North America (S&P Global Market Intelligence, 2025).

Management commentary

"This acquisition does two critical things. It consolidates full control of the Springer project and opens direct Highway 64 access to both the deposit and the resource-expansion area to the east. We're now positioned to explore entirely undrilled ground along strike without the operational constraints of legacy access routes. It's a strategic move that simplifies execution and materially improves our ability to grow the resource," said Kerem Usenmez, president and chief executive officer of Volta.

Strategic rationale

Springer rare-earth element and gallium (REE-Ga) mineralization is open to the east of the currently defined deposit. There are no historic or current drill holes on the acquired claims, and the acquisition allows Volta to conduct exploration and potentially expand the resource to the east of the current mineral resource estimate (MRE), which remains open for expansion.

In addition, the acquired claims open an alternative, direct route to both the Springer deposit and the eastern resource-expansion area from Highway 64. This new access corridor is short and efficient, and improves operational flexibility.

Terms of the acquisition

Volta will acquire a 100-per-cent interest in the acquired claims for consideration of 600,000 common shares of the company to an arm's-length vendor. The vendor will retain a 2-per-cent NSR royalty on the acquired claims. Volta may purchase one half of that royalty (1-per-cent NSR) at any time for a cash payment of $500,000, reducing the vendor's retained royalty to a 1-per-cent NSR.

The consideration shares will be subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws. Closing remains subject to customary closing conditions, including approval of the Canadian Securities Exchange.

Resource estimate

On Feb. 23, 2026, Volta reported an updated mineral resource estimate (MRE) for the Springer deposit, effective Dec. 31, 2025, prepared by SLR Consulting (Canada) Ltd. The MRE comprises 56.6 Mt indicated at 0.70 per cent total rare-earth oxides (TREO) (including a near-surface high-grade core of 11.5 Mt at 1.10 per cent TREO) and 119.5 Mt inferred at 0.58 per cent TREO (including a near-surface high-grade core of 3.0 Mt at 1.16 per cent TREO). Resources are reported within an optimized open pit shell above a $43/tonne net metal revenue cut-off. Revenue is driven primarily by praseodymium and neodymium, which together account for approximately 90 per cent of total net metal value. The updated MRE placed Springer among the top 10 largest REE deposits in North America based on the S&P Global Market Intelligence database (2025). The company cautions that mineral resources are not mineral reserves and do not have demonstrated economic viability. An NI 43-101 technical report supporting the MRE was filed on SEDAR+ on April 9, 2026.

The acquired claims have not been drill-tested and no mineral resource has been estimated on them. The company is acquiring the acquired claims primarily to consolidate the Springer land package, to secure a clear path to 100-per-cent ownership of the entire project, and to establish direct Highway 64 access to the deposit and the resource-expansion area. Readers are cautioned that the company's expectations regarding land consolidation, ownership and access are expressions of its current strategic intentions only, that no mineral resource estimate has been completed on the acquired claims, and that there can be no assurance that any future work will identify mineralization on the acquired claims or that any mineralization identified would be of sufficient quantity or grade to be included in a future mineral resource estimate.

Qualified person

The technical content of this press release has been reviewed and approved by Dr. Julie Selway, PGeo, vice-president, exploration, and qualified person (QP) as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About Volta Metals Ltd.

Volta Metals is a critical mineral exploration company focused on rare-earths, gallium, lithium, cesium and tantalum. Volta owns, has optioned, and is currently exploring a critical minerals portfolio of rare-earth, gallium, lithium, cesium and tantalum projects in Ontario, one of the world's most prolific and emerging hard-rock critical mineral districts.

Volta is advancing its 4,750-hectare Springer REE deposit, located on the traditional territory of the Nipissing First Nation in Sturgeon Falls. The Springer rare-earth element deposit sits approximately 70 km east of Sudbury, Ont., with direct access via the Trans-Canada Highway and Highway 64. The project benefits from well-developed infrastructure, including paved road access, on-site power lines fed from the Crystal Falls hydroelectric dam, a natural gas pipeline and Canadian National Railway service, all within eight km of the deposit.

We seek Safe Harbor.