Dr. Michael Gunning reports

VTEM AIRBORNE SURVEY IS UNDERWAY ON VR'S EMPIRE COPPER-NICKEL-PGM PROJECT IN ONTARIO

VR Resources Ltd. has reached two important milestones for its previously announced farm-out transaction of its Empire and Silverback Cu-Ni-PGM (copper-nickel-platinum group metal) projects in Ontario to Athos Metals Corp., a private company.

• VTEM+ airborne EM and magnetic survey is under way;
• VR receives conditional approval from TSX Venture Exchange for the proposed transaction.

As described in the new release dated Feb. 26, 2026, the first major exploration milestone for the proposed transaction is the completion of an airborne VTEM+ EM and magnetic survey for the Empire project, a district-scale copper-nickel-PGM exploration strategy in Northwestern Ontario.

The survey is now under way. It is large, comprising approximately 1,500 line kilometres in three separate blocks. It will cover the Rambler, Empire and Mack properties. It is expected to take approximately three weeks to complete, with final data anticipated sometime in July.

The goal of the survey is twofold: 1. to refine magnetic and EM targets already established for the Westwood intrusion based on VR's exploration and first-pass drilling in 2024; 2. to identify new, coincident EM and magnetic anomalies elsewhere on the Empire property, and on the Rambler and Mack properties.

Follow-up drilling using the results from the VTEM+ airborne survey is the second, and final exploration milestone for the proposed transaction and is anticipated for later this summer, once final data from the airborne survey are received and integrated with existing project data, and targets are prioritized.

In connection with the proposed transaction as described in the news release dated Feb. 26, 2026, Athos is moving forward to complete a go-public transaction which would result in its shareholders receiving shares of a resulting issuer which are expected to be listed on the TSX Venture Exchange or the Canadian Securities Exchange in the coming months. Pursuant to the terms of the agreement for the transaction, and following the go-public transaction, VR will hold 9.9 per cent of the resulting issuer's issued and outstanding shares, among other considerations paid in respect of the transaction. VR received conditional acceptance of the proposed transaction from the TSX-V in a letter dated April 23, 2026.

Dr. Michael Gunning, chief executive officer of the company, commented: "We are pleased to see the Empire exploration strategy advancing. We believe in the copper-nickel-PGM-gold potential, and our 9.9-per-cent position will preserve the future upside potential of this district-scale project that we initiated two years ago.

"Further, that upside potential is near term. With the VTEM+ airborne survey now under way, follow-up drilling is anticipated for late summer or fall, based on an ongoing integration of an ever-expanding array of exploration data in order to prioritize targets for the project.

"I am impressed by the conviction demonstrated by the Athos team so far. We look forward to working with Athos in a similarly committed process over the coming months, towards a successful go-public process and ultimately to drilling anticipated for this summer in the emerging district, including the mineralized intrusion at Westwood shown [in a photo in the original version of this news release] and located just off the TransCanada highway!"

Technical information

Technical information disclosed by the company has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101. Technical information contained in this document, and on the company's website, has been reviewed and approved on behalf of the company by the president and chief executive officer, Dr. Michael Gunning, PhD, PGeo, a non-independent qualified person.

About VR Resources Ltd.

VR is an established junior exploration company based in Vancouver. VR evaluates, explores and advances opportunities in copper, gold and critical metals in Nevada, United States, and Ontario, Canada. VR applies modern exploration technologies, in-house experience and expertise in greenfields exploration to large-footprint mineral systems in underexplored areas/districts. The foundation of VR is the proven record of its board in early stage exploration, discovery and M&A (merger and acquisition). VR owns its projects outright and evaluates new opportunities on a continuing basis, whether by staking or acquisition.

About Athos Metals Corp.

Athos Metals is a Canadian mineral exploration company identifying and advancing critical minerals prospects in Canada. Athos's initial focus is the 15,150-hectare Empire District project, a district-scale Cu-Ni-PGE-Au exploration opportunity in the Marmion terrane of Northwestern Ontario with demonstrated mineralization and discovery potential. On April 30, 2026, Athos announced that it signed a letter of intent with Meed Growth Corp. (TSX Venture Exchange: MEED.P) with respect to a proposed qualifying transaction which will result in a reverse takeover of Meed by Athos, with the resulting issuer to be listed for trading on the TSX-V.

We seek Safe Harbor.