Mr. Kerem Usenmez reports

VOLTA METALS ANNOUNCES UPSIZING OF PREVIOUSLY ANNOUNCED OFFERING

As a result of excess demand, Volta Metals Ltd. has agreed to increase the size of its previously announced non-brokered private placement to raise gross proceeds of up to an aggregate of $1.5-million. In all other respects, the terms of the offering will remain as previously disclosed in the announcement press release dated Aug. 11, 2025.

The offering will be comprised of the issuance of any combination of: (i) up to 18.75 million units of the company at a subscription price of eight cents per unit; and (ii) up to 15 million flow-through units of the company (each, an FT unit), at a subscription price of 10 cents per FT unit. The company reserves the right to increase the size of the offering by up to 25 per cent, such that any combination of up to an additional 4,687,500 units or 3.75 million FT units may be issued to raise additional aggregate gross proceeds of up to $375,000. The maximum aggregate gross proceeds that may be raised under the offering is $1,875,000.

Each unit will comprise one common share of the company and one common share purchase warrant of the company, with each warrant entitling the holder thereof to purchase an additional share of the company at an exercise price of 15 cents per warrant share for 24 months from the closing of the offering.

Each FT unit will comprise one common share of the company and one warrant. The FT shares will qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada).

The company will use the gross proceeds from the sale of the FT units to incur eligible Canadian exploration expenses that will qualify as flow-through critical mineral mining expenditures as such terms are defined in the Income Tax Act (Canada) related to the company's recently acquired Springer project and its Aki project, both in Ontario, on or before Dec. 31, 2026. All qualifying expenditures will be renounced in favour of the subscribers of the FT units with an effective date not later than Dec. 31, 2025. The net proceeds from the sale of the units will be used for exploration at the company's mineral properties and general corporate and working capital purposes.

As in every financing the company has completed to date, certain directors and officers of the company (the insiders) are expected to participate in the offering, increasing insider holdings. The issuance of the units or FT units to the insiders will constitute a related party transaction within the meaning of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions (MI 61-101). The company expects to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under MI 61-101 pursuant to Section 5.5(a) and Section 5.7(1)(a) of MI 61-101, on the basis that the participation in the offering by the insiders will not exceed 25 per cent of the fair market value of the company's market capitalization.

The securities issued under the offering will be subject to a statutory hold period in Canada of four months and a day from the date of issuance in accordance with applicable securities laws. The closing of the offering is subject to certain conditions, including, but not limited to, the receipt of all required regulatory approvals, including the approval of the Canadian Securities Exchange.

There can be no assurances that the offering will be completed on the terms set out herein, or at all, or that the proceeds of the offering will be sufficient for the purposes of the company set out herein.

About Volta Metals Ltd.

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

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