Mr. Tyrell Sutherland reports

VIRIDIAN CONTINUES TO DEFINE LARGE-SCALE, NEAR-SURFACE MINERALIZATION AT KRAKEN

Viridian Metals Inc. has released final assay results from the remaining 17 drill holes completed during its 2025 drilling program at the Kraken Main zone, located in Labrador, Canada:

• Final assays reported from the remaining 17 drill holes completed during the 2025 program at the Kraken Main zone;
• Consistent, near-surface sulphide mineralization confirmed over an additional 360 metres of strike length, including tens of metres of mineralization intersected above the primary target horizon;
• Near-continuous sulphide mineralization defined over approximately 600 metres by approximately 200 metres (five-kilometre electromagnetic conductor, supporting a large intrusive-hosted sulphide system).

"The final assays from our 2025 drilling program reinforce our interpretation of the Kraken Main zone as a large, laterally extensive zone of near-surface sulphide mineralization," said Tyrell Sutherland, chief executive officer of Viridian Metals. "Drilling continues to demonstrate consistent, near-surface sulphide mineralization across a growing footprint, including mineralization extending beyond the primary target horizon. With only a small portion of the Main zone tested, the results highlight the significant discovery potential as we continue to define mineralization along this five-kilometre-long zone."

Results from the final batch of drilling continue to confirm consistent, near-surface sulphide mineralization and extend confirmed mineralization north by 360 metres. Most drill holes in this phase did not reach the primary target horizon; however, they intersected tens of metres of sulphide mineralization above the target horizon, further supporting the presence of a large, robust mineralized system.

Complete results for Viridian's 2025 drilling are shown below. Holes 23-27 were originally reported by news release dated Dec. 10, 2025, which is available on the company SEDAR+ profile and the company's website.

Drilling completed to date has confirmed near-continuous sulphide mineralization over an area of approximately 600 metres along strike and 200 metres across, representing less than 10 per cent of the interpreted Kraken Main zone. The Main zone is interpreted to extend over approximately 5,000 metres of strike length based on geophysical data and widely spaced drilling, highlighting the scale of the mineralized system as drilling continues to expand the footprint.

Drilling at the Kraken Main zone has consistently intersected sulphide mineralization within the lower Michikamau intrusion and along its basal contact with the surrounding country rock. In addition to the targeted basal sulphide horizon, drilling has identified tens of metres of disseminated sulphide mineralization within the intrusive rocks above the contact. The presence of mineralization both at the basal contact and within the intrusion suggests a vertically extensive mineralized system developed along a major intrusive margin.

Mineralized drill holes intersecting the basal horizon are distributed along a more-than-five-kilometre-long electromagnetic conductor, supporting the interpretation of a large, laterally extensive intrusive-hosted sulphide system. The geometry, thickness and continuity observed to date are consistent with sulphide systems capable of supporting substantial mineral inventories as systematic delineation drilling continues. Drill holes completed at approximately one-kilometre spacing along the Main zone conductor confirm that mineralization is present along the entire interpreted trend.

The Kraken Main zone represents just one of more than 160 near-surface electromagnetic conductors identified on the property, positioning Kraken as the cornerstone of a large, district-scale mineralized camp that remains largely unexplored.

Intercepts are calculated based on 0.1-per-cent-copper-equivalent cut-off grade corresponding to approximately $10 (U.S.) net smelter royalty with no more than 1.5 metres of internal dilution. Viridian has completed specific gravity measurements and full multielement geochemical analysis on all samples to support continuing characterization of the Kraken system and advance preparation for an eventual mineral resource estimate.

Next steps

Planning has already begun for an expanded 2026 drilling program that will continue stepouts along the five-kilometre Main zone conductor, including deeper holes beneath the strongest conductivity responses. Additional drilling will also test newly identified structural splays, where higher-grade sulphide accumulation is considered likely based on 2025 results.

Quality assurance/quality control

From the drill site, BTW-sized drill core was systematically logged for geological attributes, and photographed and sampled at Viridian's core shack at Kraken camp. Sample lengths as small as 0.30 m were used to isolate features of interest, but most samples within moderate to strong mineralization were 0.5 to 1.0 m in length. Core was cut in half lengthwise along a predetermined line, with one-half (same half, consistently, dictated by cut line where present) collected for analysis and one-half stored as a record. Standard reference materials and blanks were inserted by Viridian personnel at regular intervals into the sample stream. Bagged samples were sealed with security tags to ensure integrity during transport. They were delivered by expeditor to Activation Labs' facility in Ancaster, Ont.

Activation Labs is accredited to ISO/IEC 17025. Samples were dried, crushed (less than seven kilograms) up to 80 per cent passing two millimetres using riffle split (250 grams) and pulverized to 95 per cent passing 105 microm (code RX1). A four-acid near-total digest with an inductively coupled plasma optical emission spectroscopy (ICP-OES) finish was used for 35-element analysis on 25-gram sample pulps (code 1F2). Samples that were over the analyses limit for cobalt, copper and nickel were reanalyzed using sodium peroxide fusion ICP (code 8-peroxide-icp-oes).

Closing of private placement

Further to its press release dated Dec. 2, 2025, the company confirms that it has raised no further funds pursuant to its non-brokered private placement consisting of the issuance of a combination of: (i) flow-through shares of the company at a price of 75 cents per flow-through share; and (ii) non-flow-through units of the company at a price of 56 cents per hard-dollar unit.

The offering is closed with no further change to the figures provided in the press release dated Dec. 2, 2025.

Change in officers

The company further announces that Coulter Wright has stepped down as corporate secretary of Viridian to concentrate on his other business ventures. Viridian has appointed Andy Hunter as corporate secretary, effective immediately.

Viridian would like to thank Mr. Wright for his service to the company and welcome Mr. Hunter to his new role.

Grant of performance share units and restricted share units

The company has announces that its board of directors has approved a grant of long-term incentive awards to officers and directors consisting of 50,000 stock options, 100,000 restricted share units and 475,000 performance share units pursuant to the terms of the company's omnibus equity incentive plan.

The options are fully vested on grant, have an exercise price of 72 cents per common share, being the closing price of the company's shares on the Canadian Securities Exchange on Feb. 3, 2026, and will expire three years from the date of issuance.

Each RSU and PSU will convert into one common share of the company on each vest date or, at the discretion of the board of directors, may be settled in cash. The RSUs will vest one year from the date of grant. The PSUs will vest one year from the date of grant subject to the achievement of certain corporate performance criteria.

Qualified person

Tyrell Sutherland, PGeo, president and chief executive officer of Viridian Metals, who is a qualified person as defined in National Instrument 43-101 (Standards of Disclosure for Mineral Projects), has reviewed and approved the technical disclosure contained in this news release.

About Viridian Metals Inc.

Viridian Metals is a pioneer and leader in generative metal exploration with a focus on environmental responsibility and ethical practices. Founded with the intention of discovering new critical metal deposits with the potential to transform the metal supply chain, it leverages innovative technologies and methods to enhance efficiency and sustainability in jurisdictions eager to be leaders in supplying the energy transition. Viridian maintains expertise in a range of critical metals with a primary focus on copper, nickel and cobalt in the near term. Its commitment to integrity and transparency fosters strong partnerships with both local and global stakeholders.

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