Mr. John Wilton reports

BEMETALS SIGNS DEFINITIVE AGREEMENT TO ACQUIRE OPTION ON SAVANT GOLD PROJECT IN ONTARIO

Bemetals Corp. has signed a definitive option agreement with Prospector Metals Corp. to acquire up to a 100-per-cent interest in the Savant gold exploration project, located in a highly prospective gold district in Northwestern Ontario, Canada.

This definitive agreement formalizes the terms set out in the non-binding letter of intent (LOI) previously announced on July 10, 2025. The Savant project covers approximately 232 square kilometres of underexplored terrain with favourable iron formation geology, situated near major past and present producers, including the Musselwhite and Red Lake gold mines.

John Wilton, president and chief executive officer of Bemetals, stated: "The Savant gold exploration project is underexplored and hosts compelling geological features that highlight its discovery potential. We are pleased to have signed this definitive agreement for the project with the highly experienced Prospector team, marking an important step in the property's potential advancement. We recognize the importance of responsible mineral exploration and look forward to working closely with Prospector on this exciting exploration project and building along with their respectful engagement with first nation communities and other stakeholders in the region."

Under the agreement, Bemetals has the exclusive option to earn up to a 100-per-cent interest in the Savant project over a five-year period by meeting certain money-in-the-ground-focused exploration expenditures and a mineral-resource-discovery-based success payment, including:

• Initial commitment: Bemetals will spend at least $500,000 on exploration within first year of signing the definitive agreement.
• Annual expenditures: Bemetals must spend $500,000 annually on exploration, with the option to accelerate spending.
• National Instrument 43-101-technical-report-supported mineral resources and ownership: Bemetals will provide an NI 43-101-compliant technical report to support the mineral resources to determine the following ownership criteria:
  • Less than 500,000 ounces of gold: Prospector retains 100 per cent of the project;
  • 500,000 or more ounces of gold in the inferred resource category: a 50/50 joint venture to be formed;
  • Greater than or equal to one million ounces of gold with greater than 500,000 in the indicated resource category: Bemetals acquires 100-per-cent ownership of the project.
• Success-based payment: Bemetals will pay Prospector $5 (U.S.) per ounce of gold in the mineral resource supported by the technical report.
• NSR (net smelter return) royalty: If Bemetals acquires 100-per-cent ownership of the project, a 0.5-per-cent NSR royalty will be granted to Prospector.

Bemetals expects to work closely with Prospector Metals in the coming weeks to design the 2025 exploration program with the aim to identify and prioritize drill targets for subsequent initial drilling campaign in 2026.

About Bemetals Corp.

Bemetals is a precious and base metals exploration and development company focused on advancing its portfolio of high-potential mineral projects. Bemetals is an affiliate company of B2Gold Corp. which currently owns approximately 24 per cent of Bemetals' outstanding shares. The company plans to explore the Savant gold project in Northwestern Ontario, one of Canada's most prolific gold-producing regions, which hosts several past producers as well as current operations, including the Red Lake and Musselwhite mines. The company also has the Pangeni copper project in the Zambian Copperbelt, with co-financing and technical partner Jogmec, where the company has discovered copper mineralization with geological characteristics and intersected widths and grades similar to that of large-scale copper mines in the same region. Additionally, the company has its compelling Kazan gold exploration projects in Japan while continuing to evaluate additional potential strategic acquisition opportunities.

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