Mr. Clayton Fisher reports

IDEX METALS RECEIVES USFS APPROVAL & PROVIDES DRILLING UPDATE FOR FREEZE PROJECT, IDAHO

The U.S. Forest Service (USFS) has approved Idex Metals Corp.'s plan of operations under a categorical exclusion (CE) for expanded exploration at its 100-per-cent-owned Freeze project, located in Washington county, Idaho, United States.

With the CE approval in place, Idex is now positioned to advance exploration on its highly prospective USFS claims that form the western part of the Freeze project. Anticipated work programs include diamond drilling, ground-based geophysics, and expanded mapping and sampling programs, all aimed at advancing the company's magmatic-hydrothermal copper-gold model. This approval also allows for future drilling at the CM prospect, a large previously untested target that will complement ongoing drilling at the Kismet area.

Clayton Fisher, chief executive officer of Idex Metals, commented: "We're really pleased to have the green light to drill CM. It's a big target we've been eager to test and adding it to the program makes this project even more exciting. With current drilling at Kismet, and the CM prospect now ready to go, we have a real opportunity to show the scale of what is emerging at the Freeze project."

Drilling update: Kismet target

The 2025 drill program at the Kismet target was designed with two primary objectives: (1) to confirm the subsurface presence of a mineralized tourmaline-bearing breccia reported in historical records (see June 10, 2025, news release), and (2) to test at depth for a potential causative porphyry source to the breccia.

Idex has now completed the first drill hole (KSMT25001) of the 2025 season at the Kismet target. KSMT25001 was designed to test and confirm the existence and extent of the tourmaline breccia and associated intrusive lithologies documented at surface and in historical reports. Historical drilling at the Kismet prospect from 1965 yielded an intercept of 41.15 metres at 0.85 per cent Cu (copper) from 9.14 m in hole 4 (Table 1; June 10, 2025, news release).

Hole KSMT25001 ended at a depth of 278 metres, which is over four times greater than the depth of the historical hole drilled in 1965 (67.54 metres). Furthermore, KSMT25001 encountered both oxide and sulfide mineralization throughout the length of the hole with varying degrees of intensity. KSMT25001 ended in mineralization but had to be stopped due to technical drilling conditions, with further drilling planned in follow-up holes. Core processing has now been completed, and the samples have been submitted to AGAT Laboratories in Calgary, Alta. Assay results from hole KSMT25001 are expected in September.

The company continues to advance drilling of the second hole at Kismet, KSMT25002. At the time of writing, KSMT25002 has surpassed 404 metres depth and continues to encounter mineralized intrusive and breccia units. Drilling continues, with assays expected in October.

Geological description

KSMT25001 was designed with the purpose of confirming the historical information encountered in the tourmaline breccia drilled at Kismet in 1965. The company is happy to report that hole KSMT25001 has confirmed historical descriptions of lithology, mineralization and alteration.

The hole encountered mineralization from surface in the form of oxide minerals malachite and chrysocolla, which occurs on fracture surfaces and replaces primary chalcopyrite in the matrix of the tourmaline breccia/magmatic breccia system. The mineralization continues down hole with zones of oxide-copper mineralization transitioning to more sulphide-dominant (pyrite-chalcopyrite-molybdenum) hydrothermal infill mineralization down hole. Oxide-copper mineralization continues to occur at depths greater than 200 metres along local structures.

The hole is characterized by a suite of intrusive rocks, varying from gabbro to diorite to granodiorite in composition. The units have a complex geological interrelationship but often form the host rocks and clasts contained in intervals of magmatic breccia. The magmatic breccia system has been variably overprinted by variably mineralized hydrothermal fluids, including a tourmaline-magnetite (hematite)-pyrite-chalcopyrite assemblage that acts as infill to, or entirely overprints the system. There are intermittent zones of silicified intrusive that appear to predate the brecciation event; however, the relative timing of emplacement, brecciation and mineralization and subsequent faulting of all units at Kismet is not currently constrained. Additional drilling along and parallel to section is anticipated to aid in this interpretation.

The hole was stopped at a depth of 278 metres within a mineralized interval of breccia with fracture coating oxide copper minerals, malachite and chrysocolla. Drilling was terminated due to circulation loss and challenging ground conditions; however, the hole successfully confirmed mineralization at depth and remains open for follow-up drilling.

Qualified person statement

David Hladky, PGeol (registered in Alberta), and vice-president of exploration of Idex Metals, a qualified person (QP) as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, is responsible for the accuracy of, and has reviewed and approved the use of the scientific, technical and historical information pertaining to the Freeze project in this news release.

About Idex Metals Corp.

Idex Metals is a mineral exploration company focused on advancing a portfolio of base and precious metal projects in Idaho, United States. Idex is primarily focused on the exploration and development of the Freeze copper-gold porphyry prospect located in the newly discovered Idaho copper belt, Washington county, Idaho. With a strategic land position in a top-tier mining jurisdiction and surrounded by major industry players, Idex is committed to redefining district-scale exploration in Idaho.

We seek Safe Harbor.