Vancouver, British Columbia--(Newsfile Corp. - October 30, 2026) - Live Energy Minerals Corp. (CSE: LIVE) (OTC Pink: GTREF) ("LIVE" or the "Company") announces that, further to its news release dated October 20, 2026, it has issued 120,000 common shares (the "Option Shares") to an arm's length optionor (the "Optionor") under the option agreement dated October 15, 2026 (the "Option Agreement"). Under the Option Agreement, the Company may acquire a 100% interest in two mineral claims comprising 73 units near Plaster Rock, New Brunswick (the "Plaster Rock Property").

The Option Shares were issued on October 30, 2026 at a deemed price of $0.20 per share, for a total deemed value of $24,000. This is the first share payment under the Option Agreement.

To keep the option in good standing, the Company must issue a further 1,000,000 common shares on or before October 30, 2027 and a further 2,880,000 common shares on or before October 30, 2028. Each later tranche will be priced at the closing price on the last trading day before issuance, subject to the pricing policies of the CSE. The option carries no cash payments and no minimum exploration expenditures. When the option is exercised, the Optionor will keep a 2% net smelter returns royalty. The Company may buy back one-half of the royalty (1%) at any time for $500,000.

The Option Shares are subject to a statutory hold period expiring on March 1, 2027 pursuant to applicable Canadian securities laws. No finder's fees were paid.

About LIVE Energy Minerals Corp.

The Company is a Canadian-based exploration company focused on the acquisition, exploration, and development of North American mining projects. The Company holds the rights to the Mesa Top Mine and Section 20 uranium claims in McKinley County, New Mexico, USA and an option to acquire a 100% interest in the Plaster Rock uranium-copper property in New Brunswick. The Company's McDermitt Lithium East Project in Nevada, USA is under option to US Critical Metals Corp., with the Company retaining a net smelter returns royalty.

Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws, including statements regarding: the issuance of the remaining Option Shares and the timing of each tranche; the deemed price at which future Option Shares will be issued; the Company's ability to exercise the option and acquire a 100% interest in the Plaster Rock Property; and the net smelter returns royalty and the Company's right to purchase a portion of it. Forward-looking information is based on assumptions management considers reasonable, including that the Company will satisfy its obligations under the Option Agreement, that the claims will be maintained in good standing, and that market conditions will permit the issuance of the Option Shares in accordance with CSE policies.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially, including: the Company's decision not to continue with or to terminate the Option Agreement; fluctuations in the market price of the Company's shares; the availability of financing to maintain the claims and fund the royalty purchase; title risks; changes in regulatory requirements or exchange policies; and the other risks described in the Company's MD&A and other filings on SEDAR+ at www.sedarplus.ca. Readers should not place undue reliance on forward-looking information. The Company does not undertake to update forward-looking information except as required by applicable securities laws.

Grand Falls-Windsor, Newfoundland and Labrador--(Newsfile Corp. - October 30, 2026) - First Atlantic Nickel & Cobalt Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P210) ("First Atlantic" or the "Company") is pleased to announce that it has entered into an asset purchase agreement dated October 30, 2026 (the "Agreement") with two arm's length parties (together, the "Vendors") to acquire a 100% interest in three mineral licences comprising 209 mineral claims spanning approximately 52.25 square kilometers located in the Province of Newfoundland and Labrador (the "Property" or the "North Arm Ophiolite Property") (the "Transaction").

The North Arm Ophiolite Property, in the Bay of Islands Ophiolite Complex ("BOIC") of western Newfoundland, is prospective for geologic hydrogen, awaruite nickel alloy (Ni₃Fe), copper, platinum group elements (PGEs) and chromium. The Property covers mantle-derived dunite and peridotite rocks, the same type of iron- and magnesium-rich ultramafic rocks that host First Atlantic's awaruite discoveries at the Pipestone XL Project. They also enable serpentinization, the water-rock reaction that produces natural (white) hydrogen. Elsewhere in the BOIC, at the Tablelands, active hydrogen-bearing alkaline springs show that the process is happening today. The same rocks are also targets for stimulated (orange) hydrogen and mineral carbon storage (CO₂ Capture). Awaruite forms under the strongly reducing, hydrogen-rich conditions that serpentinization creates, making it both a nickel-cobalt target and an indicator of hydrogen generation. The mantle section also hosts podiform chromite, the same deposit style as the historic high-grade chromite occurrences at Blow Me Down and Springers Hill. Numerous historic high-grade chromite occurrences have been found throughout the various ophiolite packages of the BOIC, yet little metallurgical or mineralogical work has been done to examine potential recovery and processing methods. The North Arm Ophiolite Property has seen limited modern exploration and has not been systematically tested for hydrogen or awaruite (a naturally occurring magnetic nickel-iron-cobalt alloy).

The Property consists of three mineral licences totalling 209 claim cells (5,225 hectares), on the north shore of North Arm, Bay of Islands. Boats can land directly on the Property, and the nearest road comes within 5 km of it. The claims cover the North Arm Mountain massif, one of the four massifs of the Lower Ordovician BOIC. The BOIC is one of the best-preserved sections of oceanic crust and upper mantle in the world. The North Arm Ophiolite Property lies 25 km north of the Company's Ophiolite-X Project, which covers the Blow Me Down and Lewis Hills ophiolites, and extends FAN's control of ultramafic ophiolite complexes in Atlantic Canada to a third BOIC massif.

Terms of the Transaction

Under the Agreement, the Company will acquire the Property in exchange for the issuance of 1,000,000 common shares of the Company (the "Payment Shares") to the Vendors, at a deemed price of $0.55 per share.

On closing, the Company will also reimburse the Vendors for $51,250 in refundable security deposits previously posted with the Government of Newfoundland and Labrador in respect of the Property. The Company will receive the benefit of any future refund of those deposits.

The Property is free of any royalties or options.

Closing is subject to acceptance by the TSX Venture Exchange (the "TSXV") and is expected to occur five business days after TSXV acceptance, and in any event by January 31, 2027. The Payment Shares will be subject to a statutory hold period of four months and one day from the date of issuance.

No finder's fees are payable in connection with the Transaction.

The Company also announces that it has granted incentive stock options ("Options") to purchase an aggregate of 950,000 common shares of the Company (each, a "Share") to directors and an investor relations consultant of the Company under the Company's Omnibus Long-Term Incentive Plan which was re-approved by Shareholders on August 13, 2026. The Options can be exercised at $0.55 per Share for a term of five years. The Options granted to the investor relations consultant vest in stages over twelve months, with no more than one-quarter vesting in any three-month period, in accordance with the policies of the TSX Venture Exchange. The Options, and any Shares issued on their exercise before March 1, 2027, are subject to a four-month hold period.

INVESTOR INFORMATION

The Company's common shares trade on the TSX Venture Exchange under the symbol "FAN", on the OTCQB under the symbol "FANCF", and on several German exchanges, including Frankfurt and Tradegate, under the symbol "P210". Investors can get updates about First Atlantic by signing up to receive news via email and SMS text at www.fanickel.com.

QUALIFIED PERSON

Adrian Smith, P.Geo., a director and the Chief Executive Officer of the Company, is a qualified person as defined by NI 43-101. The qualified person is a member in good standing of the Professional Engineers and Geoscientists Newfoundland and Labrador (PEGNL) and is a registered professional geoscientist (P.Geo.). Mr. Smith has reviewed and approved the technical information disclosed herein.

ABOUT FIRST ATLANTIC NICKEL & COBALT CORP.

First Atlantic Nickel & Cobalt Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P210) is a critical mineral exploration company in Newfoundland and Labrador developing the Pipestone XL Nickel-Cobalt (Ni-Fe-Co) Alloy Project. The project spans the entire 30-kilometre Pipestone Ophiolite Complex, where multiple zones, including RPM, Alloy Max, Super Gulp, Atlantic Lake and Chrome Pond, contain awaruite (Ni₃Fe), a naturally occurring magnetic nickel-iron-cobalt alloy of approximately 77% nickel with no sulphur and no sulphides, along with secondary chromium mineralization. Awaruite's sulphur-free composition removes acid mine drainage risk, while its magnetic properties enable processing through magnetic separation and flotation, eliminating the electricity requirements, emissions and environmental impacts of conventional smelting, roasting or high-pressure acid leaching, while reducing dependence on overseas nickel processing infrastructure.

The U.S. Geological Survey recognized awaruite's strategic importance in its 2012 Annual Report on Nickel¹, noting that these deposits may help alleviate prolonged nickel concentrate shortages since the natural alloy is much easier to concentrate than typical nickel sulphide. In 2026, initial metallurgical test work using the Company's ONSHORE MAX™ (Magnetic Alloy eXtraction) process upgraded RPM Zone material into a high-grade alloy concentrate averaging 67.4% nickel and grading up to 71.9% nickel and 1.76% cobalt, demonstrating a smelter-free, mine-to-refinery pathway. First Atlantic is a member of the U.S. Defense Industrial Base Consortium. The Company is also advancing a parallel geologic hydrogen initiative at Pipestone XL, where the same serpentinization process that formed awaruite also generates natural hydrogen, and has signed a letter of intent with VEMA Hydrogen to jointly develop low-carbon Engineered Mineral Hydrogen (EMH) through a proposed 50/50 joint venture. The Pipestone XL project is located near existing infrastructure with year-round road access and proximity to hydroelectric power, providing favorable logistics for exploration and future development and strengthening First Atlantic's role to establish a secure and reliable source of North American nickel and cobalt production for the stainless steel, electric vehicle, aerospace, and defense industries. This mission gained importance when the U.S. added nickel to its critical minerals list in 2022, recognizing it as a non-fuel mineral essential to economic and national security with a supply chain vulnerable to disruption.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, statements regarding: the completion of the Transaction and the timing of closing; receipt of TSX Venture Exchange acceptance; the issuance of the Payment Shares; the reimbursement of security deposits to the Vendors and any future refund of those deposits to the Company; the prospectivity of the Property for geologic hydrogen, awaruite, copper, platinum group elements and chromium; the potential of the Property for stimulated hydrogen and mineral carbon storage; the geological similarities between the Property and the Company's other projects; the Company's exploration plans and the expansion of its land position in the Bay of Islands Ophiolite Complex; and the vesting of the Options.

Forward-looking information is based on assumptions management considers reasonable, including that the TSX Venture Exchange will accept the Transaction; that the conditions to closing will be satisfied on the anticipated timeline; that the Company will have sufficient funds to pay the reimbursement amount and carry out exploration; that geological interpretations based on regional data and the Company's work on nearby projects are reasonable; and that market conditions will remain favourable.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially, including: failure to obtain TSX Venture Exchange acceptance or to satisfy other closing conditions; delays in closing; the inherent uncertainty of mineral and hydrogen exploration; the possibility that geological features observed on other properties, including the Pipestone XL Project, the Ophiolite-X Project and the Tablelands, are not present or not economic on the Property; the early-stage and unproven nature of natural and stimulated hydrogen and mineral carbon storage as commercial resources; the lack of metallurgical work on chromite in the region; title and permitting risks; the availability of financing; fluctuations in commodity prices and the market price of the Company's shares; changes in government regulation; and the other risks described in the Company's MD&A and other filings on SEDAR+ at www.sedarplus.ca. Readers should not place undue reliance on forward-looking information. The Company does not undertake to update forward-looking information except as required by applicable securities laws.

¹ https://d9-wret.s3.us-west-2.amazonaws.com/assets/palladium/production/mineral-pubs/nickel/mcs-2012-nicke.pdf

LUXEMBOURG, Oct. 30, 2026 /CNW/ -- Nemesia S.à.r.l, "(Nemesia"), a company controlled by trusts settled by the late Adolf H. Lundin, of 42, Boulevard Grande Duchesse Charlotte, L-1330 Luxembourg, announced today that on October 28 it had acquired an aggregate of 971,830 common shares of Faraday Copper Corp.  ("FARADAY" or "the COMPANY") (TSX: FDY) (OTCQX: CPPKF) at a price of Cdn$4.4622 per common share for a total of Cdn$4,336,500.00 through the facilities of the Toronto Stock Exchange. This purchase in itself was not triggering a reporting requirement but when combined with the increase of the issued and outstanding share capital of Faraday in connection with the acquisition of their San Manuel Project caused the percentage holding by Nemesia to decrease from 19.11% to 13.25% representing a net decrease of approximately -5.86%.

Nemesia now holds 57,010,835 common shares or approximately 13.25% of the issued and outstanding common shares of Faraday Copper. The issuance of 131'593'046 consideration shares out of Treasury at a deemed pricing of 4.9995 in connection with the San Manuel Project by Faraday combined with other impacting movements in the course of their ordinary business resulted in the current passive dilution of -5.86% net for Nemesia.

Nemesia has acquired the common shares of Faraday Copper for investment purposes and may from time to time make future investments in or dispose of common shares of the Company depending upon the business and prospects of Faraday and future market conditions.

A copy of the Early Warning Report to be filed pursuant to National Instrument 62-103 may be obtained from Barry Baker, 1-604-603 15 75.

VANCOUVER, BC, Oct. 30, 2026 /CNW/ -- Lundin Gold Inc. (TSX: LUG); (Nasdaq Stockholm: LUG); (OTCQX: LUGDF) ("Lundin Gold" or the "Company") reports the following in accordance with the Swedish Financial Instruments Trading Act.

As a result of the cancellation of 156,800 common shares repurchased under the Company's normal course issuer bid during the month of October, the Company now has 241,631,862 common shares issued and outstanding with voting rights as at October 30, 2026. 

This figure may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change in their interest in, the Company under the Swedish Financial Instruments Trading Act on disclosure of major shareholdings (Transparency Rules).

About Lundin Gold

Lundin Gold, headquartered in Vancouver, Canada, owns the Fruta del Norte gold mine in southeast Ecuador.  Fruta del Norte is among the highest-grade operating gold mines in the world.

The Company's board and management team have extensive expertise and are dedicated to operating Fruta del Norte responsibly.  The Company operates with transparency and in accordance with international best practices.  Lundin Gold is committed to delivering value to its shareholders through operational excellence and growth, while simultaneously providing economic and social benefits to impacted communities, fostering a healthy and safe workplace and minimizing the environmental impact.  Furthermore, Lundin Gold is focused on continued exploration on its extensive and highly prospective land package to identify and develop new resource opportunities to ensure long-term sustainability and growth for the Company and its stakeholders.

Additional Information

The information in this release is subject to the disclosure requirements of Lundin Gold under the Swedish Financial Instruments Trading Act.  This information was publicly communicated on October 30, 2026 at 5:00 p.m. Pacific Time through the contact persons set out below.

Vancouver, British Columbia--(Newsfile Corp. - October 30, 2026) - Eureka Metals Corp. (CSE: ERKA) (OTCQB: UREKF) (FSE: S580) ("Eureka" or the "Company") is pleased to announce that it is commencing a rights offering (the "Rights Offering") to raise gross proceeds of up to $499,134 from holders (the "Shareholders") of its common shares (the "Common Shares"). The Company is also announcing a proposed consolidation of the Common Shares (the "Consolidation") on the basis of up to six (6) pre-Consolidation Common Shares for every one (1) post-Consolidation Common Share, with the final ratio to be determined by the board of directors of the Company, to be completed following completion of the Rights Offering. The completion of the Rights Offering is not conditional upon the Company's ability to complete the Consolidation.

Rights Offering

Under the terms of the Rights Offering, the Company will issue one (1) transferable right (each, a "Right") for each Common Share held by Shareholders of record at 5:00 p.m. (Toronto time) on November 6, 2026 (the "Record Date"). The Rights will be issued under CUSIP 298601113 and ISIN CA2986011138. Each Right will entitle its holder to subscribe for one (1) pre-Consolidation Common Share at a subscription price of $0.01 per pre-Consolidation Common Share (the "Subscription Price"). The Rights will not be listed or posted for trading on any stock exchange or quotation system.

Holders of Rights who exercise all of their Rights under the basic subscription privilege will also be entitled, under the terms of the Rights Offering, to subscribe for additional pre-Consolidation Common Shares not subscribed for by other holders of Rights, if any, on a pro rata basis at the Subscription Price and subject to certain limitations set out in the Circular (as defined below). The Rights will expire at 4:00 p.m. (Toronto time) on December 1, 2026 (the "Expiry Time"), after which unexercised Rights will be void and of no value. There is no minimum subscription for the Rights Offering.

The Company currently has 49,913,367 Common Shares issued and outstanding. Upon completion of the Rights Offering and assuming the exercise of all Rights and no other issuances of Common Shares before completion, the Company will have up to 99,826,734 Common Shares issued and outstanding (before giving effect to the Consolidation), with the Common Shares issued under the Rights Offering representing approximately 50% of the Common Shares then outstanding.

Complete details of the Rights Offering are contained in a rights offering notice (the "Notice") and a rights offering circular (the "Circular"), which are available under the Company's profile on SEDAR+ at www.sedarplus.ca. It is expected that a copy of the Notice, together with direct registration system advices evidencing the Rights ("DRS Advices") and related subscription forms, will be mailed to registered Shareholders resident in the Eligible Jurisdictions (as defined below) on or about November 9, 2026.

Registered Shareholders who wish to exercise their Rights must forward the completed subscription form, together with their DRS Advice and the applicable funds, to the Rights depositary and subscription agent, Odyssey Trust Company, Suite 1100 - 67 Yonge Street, Toronto, ON M5E 1J8, Attention: Corporate Actions (the "Rights Agent"), on or before the Expiry Time. Shareholders who own their Common Shares through an intermediary, such as a bank, trust company, securities dealer or broker, will receive materials and instructions from their intermediary, and should contact their intermediary to determine how their Rights may be exercised. Subscriptions will be irrevocable once submitted.

The Company expects to close the Rights Offering on or about December 2, 2026.

A majority of the Company's independent directors have, by a vote in which only independent directors participated, determined that the Rights Offering, including the pricing thereof, is in the best interests of the Company, and is reasonable in the circumstances. Accordingly, the Company is exempt from the requirement to obtain security holder approval of the Rights Offering under section of 4.6(5)(b) of CSE Policy 4.

Use of Proceeds

The net proceeds of the Rights Offering, together with the Company's existing working capital, are expected to be used for exploration and property costs, general and administrative expenses and unallocated working capital, as more particularly described in the Circular.

Eligible Jurisdictions and Participation

The Rights will be offered to Shareholders resident in: (i) all provinces and territories of Canada; and (ii) all jurisdictions outside Canada and the United States, excluding any jurisdiction that does not provide a prospectus exemption substantially similar to the exemption provided in Canada or that otherwise requires obtaining any approvals of a regulatory authority in such jurisdiction or the filing of any document by the Company in such jurisdiction in connection with the Rights Offering (collectively, the "Eligible Jurisdictions").

Subject to the provisions of the Circular, DRS Advices will not be issued or forwarded to Shareholders resident outside the Eligible Jurisdictions (the "Ineligible Shareholders"), unless an Ineligible Shareholder satisfies the Company, by delivering a satisfactory representation letter (the "Representation Letter") in accordance with the terms of the Notice and the Circular, that its participation in the Rights Offering is lawful and compliant with all applicable securities and other laws, by 4:00 p.m. (Toronto time) on November 23, 2026 (the "Qualification Deadline").

Registered Ineligible Shareholders will be sent the Notice, for information purposes only, together with a letter advising them that their Rights will be issued to and held on their behalf by the Rights Agent, and a form of Representation Letter.

If an Ineligible Shareholder has not satisfactorily completed a Representation Letter by the Qualification Deadline, the Rights held by the Rights Agent on behalf of such Ineligible Shareholder will not be exercised or sold and will expire at the Expiry Time, and such Ineligible Shareholder will receive no value for such Rights.

Share Consolidation

The Company intends to complete the Consolidation effective as soon as practicable following completion of the Rights Offering, such that all Common Shares issued and outstanding immediately following completion of the Rights Offering will be consolidated on the basis of up to six (6) pre-Consolidation Common Shares for every one (1) post-Consolidation Common Share. The final Consolidation ratio, which will not exceed six (6) to one (1), will be determined by the board of directors of the Company and announced by news release. The Consolidation remains subject to acceptance by the CSE.

Assuming the exercise of all Rights under the Rights Offering and no other issuances of Common Shares before its completion, the Company will have up to 99,826,734 Common Shares issued and outstanding on a pre-Consolidation basis, and up to approximately 16,637,789 Common Shares issued and outstanding on a post-Consolidation basis (assuming the Consolidation is completed at the maximum ratio).

No fractional Common Shares will be issued in connection with the Consolidation, and any fractional Common Share resulting from the Consolidation will be rounded down to the nearest whole number without any compensation paid in lieu.

The Common Shares, post-Consolidation, are expected to continue to be listed and posted for trading on the CSE under the trading symbol "ERKA" (CUSIP 298601204, ISIN CA2986012045), subject to the Company satisfying applicable CSE requirements and receiving CSE acceptance of the Consolidation.

Additional Information

The exercise prices and numbers of Common Shares issuable under certain outstanding convertible securities of the Company may be adjusted in accordance with their respective terms as a result of the Rights Offering and/or the Consolidation. The issuance of Common Shares pursuant to the exercise or vesting, as applicable, of outstanding convertible securities after the Record Date will not result in the issuance of additional Rights to the holders of such Common Shares.

For more information, full details of the Rights Offering are set out in the Notice and the Circular, which are available under the Company's profile on SEDAR+ at www.sedarplus.ca. Shareholders are encouraged to review these documents, together with the Company's continuous disclosure record, before making a decision to exercise their Rights.

The securities referred to above have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, any U.S. persons or any persons within the United States absent registration or an available exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Eureka Metals Corp. (CSE: ERKA) (OTCQB: UREKF) (FSE: S580)

Eureka Metals Corp. is a Canadian mineral exploration company focused on the acquisition and advancement of exploration projects in Canada. The Company holds a 100% interest in the Tyee Titanium Project in Québec, prospective for titanium-vanadium-scandium mineralization; an option to acquire up to an 80% interest in the KM98 Titanium Project in Québec; and an option to acquire a 100% interest in the Cabin Lake Polymetallic Project in British Columbia, prospective for silver-lead-zinc-gold mineralization.

For more information, contact the Company at info@eurekametals.com.

On behalf of the Board of Directors,

Danny Matthews

Chief Executive Officer

The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this news release.

Caution Regarding Forward-Looking Information

This news release contains forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information is generally identifiable by the use of words such as "anticipates", "expects", "believes", "plans", "intends", "estimates", "will", "may" and similar expressions. Forward-looking information in this news release includes, but is not limited to, statements regarding the Rights Offering, including its terms, timing, anticipated gross and net proceeds and use of proceeds; the completion, timing, final ratio and effects of the Consolidation; the timely receipt of all necessary regulatory and CSE approvals; satisfaction of the conditions to completion of the Rights Offering and the Consolidation; and the Company's future business plans and objectives.

Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the date of this news release, are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, but are not limited to: the Company obtaining CSE and other required approvals for the Rights Offering and the Consolidation on terms acceptable to it; the satisfaction of all conditions to completion of the Rights Offering and the Consolidation; the extent to which holders exercise their Rights; the speculative nature of mineral exploration and the early stage of the Company's mineral properties; fluctuations in commodity prices; market conditions; regulatory decisions; and other risks and uncertainties described in the Company's public filings available on SEDAR+. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, no assurance can be given that these expectations will prove to be correct, and such forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents the Company's expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

MHB-39 reached a final depth of 1,460 feet (approximately 445 metres), exceeding its originally planned depth of 1,250 feet (381 metres). Persistent silicification prompted the technical team to extend the hole to further evaluate the alteration encountered at depth. Visually identified native copper was observed earlier in the hole.

MHB-39 Highlights

• First Phase 2 hole completed: MHB-39 reached 1,460 feet, approximately 210 feet beyond the upper end of its original planned depth range. 

• Native copper (Figure 1) and copper oxides (Figure 2) observed in hole.  These observations remain subject to laboratory confirmation. 

• Persistent silicification: Continued silicification supported extending the hole beyond its original target depth. 

Geological observations at final depth: MHB-39 terminated in moderately silicified rhyolite containing stockwork tourmaline veinlets, trace fine-grained pyrite and trace sphalerite

David Greenway, President and Chief Executive Officer of Copper One, commented: “Completing MHB-39 beyond its originally planned depth provides our technical team with additional geological information as we advance Phase 2 at Majuba Hill. The visual secondary copper minerals observed in the hole and persistent silicification warrant further evaluation through detailed logging, sampling and analysis. With a program of up to 10,000 feet, we are working to better understand the distribution of mineralization and alteration across our priority targets.”

Figure 1: Native Copper at a depth of 1,090 feet (332 metres). Visual identification is preliminary and should not be considered a substitute for laboratory assay results.

MHB-39 Geological Summary

MHB-39 was originally designed to reach a depth of between 1,000 and 1,250 feet. As drilling progressed, persistent silicification led the technical team to extend the hole, which ultimately reached 1,460 feet.

At its final depth, the hole intersected moderately silicified rhyolite with stockwork tourmaline veinlets, trace fine-grained pyrite and trace sphalerite. These observations will be incorporated into the Company’s geological interpretation to help guide subsequent drilling.

Visual mineral observations are preliminary and do not establish metal grades, or economic significance. Laboratory analysis is required to determine copper, silver, gold and other metal concentrations.

The Company’s expanded Phase 2 diamond core drilling program (the “Phase 2 Program”) comprises up to 10,000 feet (3,048 metres) of HQ/PQ diamond core drilling. The Phase 2 Program is intended to accelerate systematic testing of priority targets at Majuba Hill and support the Company’s objective of advancing the Project toward a maiden mineral resource estimate prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). More than 95,000 feet (28,956 metres) have been drilled to date at Majuba Hill across more than 100 drill holes.

Assay results from the completed 2026 Phase 1 drill program remain pending and will be announced once received, reviewed and validated.

Figure 2: Copper oxides at 820 feet (249 metres) in MHB-39.

Source: CME Group, Copper Futures Overview, last updated September 18, 2026, at 4:49 a.m. CT. Market data is delayed by at least 10 minutes.

Phase 2 Program Highlights

• Expanded program of up to 10,000 feet (3,048 metres) of diamond core drilling. 

• Initial approximately 5,000 feet (1,524 metres) contracted to Evolve using one portable HQ/PQ core drill. 

• Continuous, two-shift drilling operations planned on a 24-hour-per-day, seven-day-per-week basis. 

• Maximum planned hole depth under the initial scope of approximately 1,700 feet (518 metres), with final collar locations, azimuths, inclinations and depths to be determined by the Company’s technical team. 

• Real-time operational visibility through Evolve’s EVX Connect platform. 

Figure 3: Elevated view of drill pad 26DPH-8 at Copper One Resources Corp.’s 100%-owned Majuba Hill Copper-Silver-Gold Project in Pershing County, Nevada.

Real-Time Drill Program Technology

As previously announced the Company engaged Evolve Exploration Nevada, LLC (“Evolve”) to undertake the Phase 2 diamond core drilling.

Every Evolve drill rig operates on EVX Connect, Evolve’s real-time operational platform. Through EVX Connect, Copper One expects to receive live drilling metrics, digital PLOD reporting, drill-hole coordinate tracking, streamlined invoicing and high-quality photographs of drill core as it is recovered. Information will be accessible through web and mobile interfaces, providing the Company’s technical and management teams with timely visibility into drilling progress and field operations.

About the Majuba Hill Copper-Silver-Gold Project, Nevada

Majuba Hill is Copper One Resources Corp.’s flagship copper-silver-gold exploration project, located in Pershing County, Nevada, USA. Nevada ranked first globally on the Investment Attractiveness Index in the Fraser Institute’s Annual Survey of Mining Companies 2025. The property comprises approximately 9,684 acres (3,919 hectares) and is situated approximately 70 miles (113 road kilometres) southwest of Winnemucca and 156 miles (251 kilometres) northeast of Reno.

The project benefits from excellent infrastructure, including year-round road access, nearby electrical power, water, and access to a skilled mining workforce. Majuba Hill is a past-producing copper mine with an extensive exploration database, including approximately 95,000 feet (28,956 metres) of historical drilling, providing a strong technical foundation for ongoing exploration aimed at further defining the extent and economic potential of the mineralized system.

Exploration has outlined a large copper-silver-gold hydrothermal mineralized system that remains open for expansion. Current exploration is focused on advancing the Company's geological model through systematic drilling, geological mapping, geochemical sampling, and structural interpretation to evaluate the scale, continuity, and significance of mineralization. Additional drilling and technical studies will be required to further define the extent and economic potential of the mineralized system.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Larry Segerstrom, M.Sc. (Geology), CPG, a non-independent consulting geologist to the Company and a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Copper One Resources Corp.

Copper One Resources Corp. is focused on identifying, acquiring and advancing high-potential copper, copper-silver-gold and copper-molybdenum projects to help meet global demand for critical metals used in electrification, AI infrastructure and data centres, renewable energy, defence and power-system modernization.

The Company's flagship asset is the Majuba Hill Copper-Silver-Gold District, located approximately 156 miles (251 kilometres) from Reno, Nevada. Majuba Hill is an exploration-stage porphyry copper project situated in an established mining jurisdiction with existing infrastructure, where ongoing exploration is focused on evaluating the scale and continuity of a copper-silver-gold mineralized system.

Copper One also owns a 100% interest in the Redonda Copper-Molybdenum Project, located northeast of Campbell River in British Columbia's Vancouver Mining Division. The district-scale project comprises approximately 2,746.46 hectares (6,786 acres) across nine mineral claims and hosts a porphyry-style copper-molybdenum system within the Coast Suture Zone, a geological belt known for porphyry copper and skarn mineralization. Systematic exploration is continuing to evaluate the scale and continuity of the mineralized system.

In addition, Copper One holds an option to earn up to a 100% interest in the Redhill Property, located south of Ashcroft, British Columbia, adjacent to the Trans-Canada Highway. The 4,736-hectare (11,704-acre) property hosts volcanogenic massive sulphide (VMS) mineralization prospective for copper, zinc, silver and gold, while also demonstrating potential for epithermal gold mineralization.

Copper One also owns a 100% interest in the Sport Project in Utah through its wholly owned subsidiary, Rooinek Mining Corp., expanding the Company’s portfolio of North American copper exploration assets.

Copper One is advancing its portfolio through systematic exploration, modern geological modelling and disciplined technical evaluation. The Company remains committed to responsible exploration practices, technical transparency and the disciplined advancement of critical-metals projects across North America.

 and X.com, and to subscribe for updates at https://copperone.com/.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

On behalf of the Board of Directors of Copper One Resources Corp.

"David Greenway"

David C. Greenway

President & CEO

For further information, please contact:

Brent Rusin

Corporate Communications

E: info@copperone.com

P: 1 (236) 788-0643

VISIT OUR WEBSITE FOR MORE DETAILS

www.copperone.com

LIKE AND FOLLOW

Forward-Looking Information

This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws. Forward-looking statements are generally identified by words such as “anticipates,” “believes,” “expects,” “intends,” “plans,” “estimates,” “may,” “will,” “could,” “potential” and similar expressions.

Forward-looking statements in this news release include, but are not limited to, statements regarding the continuation, timing, scope and completion of the Company's expanded Phase 2 diamond core drilling program of up to 10,000 feet (3,048 metres) at its Majuba Hill Copper-Silver-Gold Project in Nevada; the planned drilling activities and anticipated operational performance of Evolve Exploration Nevada, LLC; the anticipated benefits and functionality of the EVX Connect platform; the geological interpretation of drill hole MHB-39, including visually identified native copper, copper oxides, silicification and associated alteration and mineralization; the planned geological logging, sampling, laboratory analysis and technical evaluation of MHB-39 and subsequent drill holes; the anticipated receipt, review, validation and disclosure of assay results from the completed 2026 Phase 1 drilling program and the ongoing Phase 2 Program; the identification, prioritization and testing of exploration targets; future drilling locations, depths, schedules and program scope; the evaluation of the scale, geometry, grade, continuity and significance of mineralization at Majuba Hill; the Company's longer-term objective of advancing the Project toward an inaugural mineral resource estimate prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects; future exploration activities and technical studies; and the Company's ability to obtain sufficient financing to advance its exploration programs.

These forward-looking statements are based on management's current expectations, estimates, assumptions and projections as of the date of this news release. Material assumptions underlying such statements include, without limitation, that required drilling equipment, qualified personnel, contractors, laboratory services, supplies, permits and financing will remain available on acceptable terms; that site access, weather and operating conditions will permit exploration activities to proceed without material disruption; that drilling operations will progress substantially as contemplated; that geological information and laboratory assay results will be received, reviewed and interpreted within anticipated timeframes; that the Company's geological interpretations and exploration targets will continue to be supported by additional technical information; and that sufficient technical and financial resources will be available to undertake future exploration and technical studies.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied. These include, without limitation, delays, interruptions or changes to planned drilling activities, locations, depths, schedules or program scope; operational or technical difficulties, including equipment failures and unexpected geological conditions; delays in sampling, laboratory analysis or receipt of assay results; the possibility that laboratory results may not confirm visual mineral observations or geological interpretations; the possibility that visually identified copper mineralization, copper oxides, silicification or other alteration features may not correspond to economically significant metal grades, mineralized widths or continuity; uncertainties regarding the extent, grade, geometry and continuity of mineralization; the possibility that additional exploration and technical evaluation may not provide sufficient evidence to support an inaugural mineral resource estimate; the availability and cost of qualified personnel, contractors, equipment, supplies and financing; adverse weather and site conditions; permitting, environmental and regulatory requirements; fluctuations in commodity prices and market conditions; and the inherent geological, operational and financial risks associated with mineral exploration and development.

No mineral resource or mineral reserve has been established at Majuba Hill, and there can be no assurance that ongoing or future exploration will result in the definition of a mineral resource or mineral reserve. Additional risk factors are described in the Company's continuous disclosure filings available under its profile on SEDAR+ at www.sedarplus.ca.

There can be no assurance that forward-looking statements will prove accurate, as actual results and future events could differ materially from those anticipated. Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by applicable securities laws, the Company undertakes no obligation to update or revise any forward-looking statements as a result of new information, future events or otherwise.

VANCOUVER, BC, Oct. 30, 2026 /CNW/ -- (TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") reports the following updated share capital and voting rights, in accordance with the Swedish Financial Instruments Trading Act.

The number of issued and outstanding shares of the Company has increased by 11,573 to 851,371,131 common shares with voting rights as of October 30, 2026. The increase in the number of issued and outstanding shares from October 1, 2026 to date is a result of the exercise of employee stock options or the vesting of employee share units. During this period, the Company did not purchase any shares for cancelation under its Normal Course Issuer Bid program ("NCIB").

Normal Course Issuer Bid

Under the Company's shareholder distribution policy, the Company is committed to allocating up to US$150 million in annual share buybacks through the NCIB program. The Company's Board of Directors has also approved an increase of up to US$100 million to the share repurchase program for the remainder of 2026. So far during 2026, Lundin Mining has acquired 6,098,494 common shares at an average cost of approximately C$35.70/share.

About Lundin Mining

Lundin Mining is a Canadian mining company headquartered in Vancouver, Canada with three operating mines in Brazil and Chile. We produce metals that underpin global development, supporting infrastructure, electrification, technological innovation, and economic resilience. Our strategic vision is to become a top ten global copper producer. To get there, we are executing a clear growth strategy, which includes advancing one of the world's largest copper, gold, and silver projects in the Vicuña District on the border of Argentina and Chile, where we hold a 50% interest. We also hold a 31% interest in the Los Helados project, located adjacent to our operating Caserones mine, providing longer term growth optionality. Lundin Mining has a proven track record of value creation through resource growth, operational excellence, and responsible development. The Company's shares trade on the Toronto Stock Exchange (LUN) and Nasdaq Stockholm (LUMI). Learn more at www.lundinmining.com.

The information in this release pertaining to the updated share capital and voting rights is subject to the disclosure requirements of Lundin Mining under the Swedish Financial Instruments Trading Act. The information was submitted for publication, through the agency of the contact persons set out below on October 30, 2026 at 4:30 pm Pacific Time.

VANCOUVER, BC / ACCESS Newswire / October 30, 2026 / Prospect Ridge Resources Corp. (the "Company" or "Prospect Ridge") (CSE:PRR) (OTCQB:PRRSF) (FRA:0ED) is pleased to announce that it has closed the third and final tranche of its non-brokered private placement (the "Offering") of $0.075 critical mineral flow-through units (the "FT Units") first announced on October 2, 2026, and updated on October 13^th, 19th and 21^st, 2026 (see news releases for details), issuing an aggregate of 2,016,669 FT Units for gross proceeds of $151,250.18. All securities issued in the third tranche are subject to a statutory hold period expiring on March 1, 2027.

Each FT Unit was comprised of one flow-through common share (a "Common Share") in the capital of the Company and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder to purchase one common share at a price of $0.10 for a period of two years after closing, subject to accelerated expiry if the Company's common shares trade or close on the Canadian Securities Exchange (the "Exchange") at $0.21or more for ten consecutive trading days.

In connection with the third tranche, the Company paid aggregate finder fees of $8,487.51 in cash and issued an aggregate of 113,167 finder warrants having the same terms as the warrants comprised in the FT Units (exercisable at $0.10 for two years subject to acceleration on the occurrence of certain events). There was no insider participation in the third tranche.

Over the three tranches, the Company raised aggregate gross proceeds of $1,836,375 through the issue of 24,485,004 FT Units, representing an oversubscription of $336,375 over the originally planned Offering of $1,500,000.

Over the three tranches, insiders purchased an aggregate of 335,000 FT Units, which as of the third tranche closing represented less than 1% of the then issued and outstanding shares, and less than 1% if the associated warrants were immediately exercised. The participation by insiders constitutes 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 has relied upon the exemption from the formal valuation and minority shareholder approval requirements pursuant to sections 5.5(a), (b) and (c), and sections 5.7(1)(a) and (b), respectively, of MI 61-101.

Use of Proceeds of the Offering

The Company intends to use the gross proceeds from the FT Shares to incur, on its mineral projects in British Columbia, eligible "Canadian exploration expenses" that will also qualify as "flow-through critical mineral mining expenditures" under the Income Tax Act. The Company intends the bulk of the gross proceeds to finance an upcoming 2,500-meter drill program on the Issuer's Camelot project, located near Horsefly, B.C. (see News Releases dated January 23, February 25 and June 16, 2026) and for preparations for an extensive Spring drill program at the Company's Excalibur project located north of Smithers, B.C (see News Releases dated September 10 and 24, 2026).

The securities to be offered under the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Prospect Ridge Resources Corp.

Prospect Ridge Resources Corp. is a British Columbia-based exploration and development company focused on critical metals and gold. Led by a seasoned management and technical team with over 100 years of combined mineral exploration experience, Prospect Ridge is advancing its north-central B.C. located Golden Horseshoe and Cariboo projects - high-potential copper-gold systems positioned within one of Canada's most under-explored yet geologically endowed mineral belts.

Contact Information

Prospect Ridge Resources Corp. Prospect Ridge Resources Corp.

Len Brownlie - President and CEO Mike Iverson - Chairman, Director

Email: len.brownlie@prospectridgeresources.com Email: mailto:mike@miverson.ca

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

This release includes certain statements and information ("FLI") that may constitute forward-looking information within the meaning of applicable Canadian securities laws. FLI relates to future events or future performance and reflect the current expectations or beliefs of the Company's management. Anything that is not historical fact is FLI. Generally, FLI can be, without limitation, identified by the use of forward-looking wording such as "plans", "intends", "believes", "expects", "anticipates" or "estimates", and statements or phrases that certain actions, events or results "may", "might", "could", "should" or "would" occur, and similar expressions. FLI is not historical fact, is made as of the date of this news release and includes, without limitation, statements and discussions of future plans, intentions, expectations, estimates and forecasts, and statements as to management's intentions and expectations with respect to, among other things, positive exploration results at the Excalibur project. FLI involves numerous risks and uncertainties, and are based on assumptions, and actual results might differ materially from results suggested in any FLI. These risks and uncertainties include, among other things, the availability of financing to continue exploration activities, the availability and cost of qualified exploration personnel and service providers, and that future exploration results at the Excalibur project will not be as anticipated. In making any FLI in this news release, the Company has applied several material assumptions, including without limitation, that future exploration results at the Excalibur project will be as anticipated. Although management has endeavored to evaluate and use reasonable assumptions and to identify important factors that could cause actual results to differ materially from those contained in FLI, these assumptions may prove incorrect and there may be other factors that cause results not to be as intended, expected, anticipated or estimated. There can be no assurance that FLI will prove to be accurate, and actual results and future events could differ materially from those expressed in FLI. Accordingly, readers should not place undue reliance on FLI, and are further cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any FLI expressed or incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

PERTH, Australia, Oct. 30, 2026 /CNW/ --

Highlights

Second Porphyry Discovery Confirmed at La Verde

• Assay results for step-out drilling, completed after the reporting period, confirmed the discovery of a second porphyry center – La Verde South - near-doubling the growth potential of the La Verde Project.
• First step-out Reverse Circulation (RC) drill hole DKP084, located approximately 250 m to the south of La Verde's +0.4% Cu mineralisation footprint, has delivered:
  • 148 m grading 0.44% CuEq¹ (0.39% Cu, 0.07 g/t Au) from 36 m
    • Including 44 m grading 0.56% CuEq (0.50% Cu, 0.06 g/t Au) from 138 m
• First step-out diamond drill hole (DD) DKD100, located a further 100 m to the south of DKP084, also visually recorded a 307 m down-hole interval of copper porphyry-style mineralisation².
• Phase 2 resource infill and extensional drilling for La Verde is now complete, following 13 months and over 40,000m of DD and RC drilling, adding to the 10,000 m of RC drilling from Phase 1.

Hot Chili Delivers More Copper-Gold at La Verde

• Strong assay results continued to be delivered during the quarter from the four drill rigs (2 Diamond and 2 Reverse Circulation) located at La Verde.
• Continuity of higher-grade copper-gold mineralisation from shallow depths was further confirmed from infill drilling and step out diamond drilling continued to expand the discovery footprint.
• Standout results reported during the quarter included:
  • DKP063 recorded 398 m grading 0.45% CuEq (0.35% Cu, 0.12 g/t Au) from surface
    • Including 62 m grading 0.91% CuEq (0.70% Cu, 0.30 g/t Au) from 20 m
    • Which includes 34 m grading 1.00% CuEq (0.80% Cu, 0.27 g/t Au) from 42 m
  • DKD060 recorded 472 m grading 0.41% CuEq (0.34% Cu, 0.08 g/t Au) from 49 m
    • Including 105.8 m grading 0.70% CuEq (0.58% Cu, 0.15 g/t Au) from 397 m
    • Including 32.6 m grading 0.90% CuEq (0.75% Cu, 0.19 g/t Au) from 438 m
  • DKP064 recorded 126 m grading 0.45% CuEq (0.38% Cu, 0.08 g/t Au) from 54 m
    • Including 26 m grading 0.70% CuEq (0.60% Cu, 0.13 g/t Au) from 108 m
  • DKP078 recorded 240 m grading 0.43% CuEq (0.30% Cu, 0.17 g/t Au) from 36 m
    • Including 54 m grading 0.60% CuEq (0.41% Cu, 0.26 g/t Au) from 46 m
    • And including 42 m grading 0.50% CuEq (0.36% Cu, 0.20 g/t Au) from 188 m
• The maiden La Verde MRE, revised Costa Fuego PFS and preparation of the EIA submission remained on track, with assay results pending for 35 drill holes (24 infill drilling and 11 southern step-out drillholes).

La Verde Drilling Totals 50,000m, with Phase 2 Now Complete

Strong Cash Position of A$29.3 Million following closure of OR Royalty Amendment Agreement during the quarter.

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Second Porphyry Centre Confirmed at La Verde South

Assay results for step-out drilling, returned after the reporting period, confirmed the discovery of a second porphyry centre at La Verde South. Located immediately south of, and along strike from, the initial La Verde copper-gold porphyry discovery, extending the potential mineralisation footprint of La Verde to 1,400m.

The first Reverse Circulation (RC) step-out drill hole, DKP084, was collared approximately 250 m south of La Verde's existing +0.4% Cu mineralisation footprint and returned 148 m grading 0.44% CuEq¹ (0.39% Cu, 0.07 g/t Au) from 36 m, including 44 m grading 0.56% CuEq (0.50% Cu, 0.06 g/t Au) from 138 m.

The intersection was primarily oxide copper porphyry-style mineralisation, commencing immediately below shallow gravel cover, and was designed to follow up previously reported RC drill hole DKP024, which recorded 114 m grading 0.4% CuEq (0.4% Cu) from 86 m, including 52 m grading 0.5% CuEq (0.5% Cu, 0.1 g/t Au) from 96 m (see announcement dated 19 May 2025).

The first southern Diamond Drill (DD) step-out drill hole, DKD100, was then collared a further 100 m south of DKP084 to test for higher-grade copper porphyry-style sulphide mineralisation beneath the oxide zone.

DKD100 visually recorded a 307 m downhole interval of copper porphyry-style mineralisation², comprising oxide mineralisation between 40 m and 172 m and porphyry-style sulphide mineralisation between 172 m and 347 m.

Expansion Drilling Continues to Demonstrate Scale and Continuity

In parallel with southern step-out drilling, drilling across the main La Verde discovery continued to refine the geological interpretation of the mineralised system, further delineating the interpreted high-grade core and demonstrating the vertical and lateral continuity of porphyry-hosted copper-gold mineralisation.

A significant result was returned from DKD060 intersected 472 m grading 0.41% CuEq (0.34% Cu, 0.08g/t Au) from 49 m depth, including a significant higher-grade component comprising 105.8 m grading 0.70% CuEq from 397 m, which also included 32.6 m grading 0.90% CuEq from 438 m (Figure 4).

Results from RC drill hole DKP067 also expanded the lateral extent of mineralisation along La Verde's eastern flank. The drillhole, reported as a partial result, returned 112 m grading 0.47% CuEq (0.40% Cu, 0.10 g/t Au) from 42 m, including 26 m grading 0.70% CuEq (0.59% Cu, 0.14 g/t Au) from 62 m.

In-fill RC Drilling Confirms Continuity of Near-Surface, Bulk Mineralisation

RC drill holes targeting the up-dip extension of high-grade mineralisation at La Verde has continued to return wide intersections of copper-gold mineralisation from shallow depths. Importantly, results are distributed across the deposit, highlighting the scale and continuity of La Verde's growing high-grade core.

These results are headlined by DKP063 (Figure 4), which recorded 398 m grading 0.45% CuEq (0.35% Cu, 0.12 g/t Au) from surface. Within this, a significant higher-grade component includes 62 m grading 0.91% CuEq (0.70% Cu, 0.30 g/t Au) from just 20 m depth, demonstrating the continuity of high-grade mineralisation at shallow depths and reinforcing the potential for a high-grade starter pit, capable of delivering early higher-grade material to the Costa Fuego mine plan.

DKP075 recorded a partial result of 132 m grading 0.57% CuEq (0.45% Cu, 0.16 g/t Au) from 24 m depth which included 42 m grading 0.70% CuEq (0.57% Cu, 0.19 g/t Au) from 96 m (Figure 5). Results for the final 177 m were still outstanding and are expected to be reported shortly.

Additionally, DKP064, which was collared at the southern extent of La Verde's high-grade core, returned 126 m grading 0.45% CuEq (0.38% Cu, 0.08 g/t Au) from 54 m depth, including 26 m grading 0.70% CuEq (0.60% Cu, 0.13 g/t Au) from 108 m, together with a second intersection of 74 m grading 0.35% CuEq (0.29% Cu, 0.07 g/t Au) from 276 m.

La Verde Drilling Totals 50,000m, with Phase 2 Now Complete

Drilling for the 40,000 m Phase 2 DD and RC program is now complete, following 13 months of progress and bringing the total at La Verde to 50,000 m. The Phase 1 RC program (completed from late 2024 to mid-2025) included 10,000 m and outlined a 750 m x 400 m x 400 m footprint, and in conjunction with Phase 2, has now identified a 1,400 m x 780 m x 800 m footprint across two porphyry centres. Resource infill drilling of La Verde is now complete, and drill rigs will start back up and focus on the growth of La Verde South in early 2027.

Project Development Integration

Since 30 June 2026, Hot Chili has further strengthened the dedicated Costa Fuego project development team and its integrated governance framework for the revised Pre-Feasibility Study (PFS) and Environmental Impact Assessment (EIA) programs, progressing multiple engineering, permitting, social, infrastructure and technical studies.

Key activities advanced include mine-plan inputs, hydrogeological and geotechnical investigations, TSF engineering and water-management studies, and evaluation of power-supply and transmission-line relocation options. Project controls are being consolidated through an integrated P6 schedule, clearer critical-path reporting, risk management and disciplined contractor cost and payment controls.

Environmental Impact Assessments (EIAs) Continue to Progress

During the quarter preparation of the Costa Fuego environmental approvals continued under the separate EIA 1A (Huasco Water) and EIA 1B (Costa Fuego) workstreams. Unusually heavy rainfall during July and August 2026 affected field activities resulted in delays which have been mitigated in part through four weeks of scheduled contingency. The Q2 2027 submission remains on track for both EIAs.

The two-stream permitting strategy has now been embedded in the project delivery framework:

• EIA 1A: the seawater intake, pumping and distribution system. Work progressed on the Project Description, environmental chapters, PAS 155 and PAS 156 gap-closure actions, the Punta Huasco Sur protection-area consultation, and flora, vegetation, vertebrate fauna and entomofauna compatibility studies. The latest Project Description revision was under review in October.
• EIA 1B: baseline studies, engineering inputs and environmental documentation progressed in parallel with the revised PFS2. Archaeological fieldwork was completed, hydrogeological field investigations and packer testing advanced, and the TSF, diversion-water and associated infrastructure packages continue to be developed for incorporation into the assessment.

Costa Fuego Revised PFS Advancement

During the quarter Hot Chili continued to advance workstreams at La Verde, designed to incorporate the new discovery into the Costa Fuego PFS as soon as possible. Geotechnical workstreams were completed at La Verde and are being incorporated into Mineral Resource Estimation and engineering design work, in parallel to metallurgical, hydrogeological and tailings testwork programs.

Analysis of multiple potential materials handling options between La Verde and Productora, the Costa Fuego central processing hub, are also underway. The potential development of a large open-pit mining scenario at Cortadera as an alternative to the previously defined open-pit and underground block cave operation for the later years of Costa Fuego's mine plan is also being finalised.

Social Integration and Community Support

Hot Chili continued its community engagement activities, with a round of early community engagement (Participación Ciudadana Temprana, PCT) in Huasco, Freirina and Vallenar. Public information stands shared details about the Huasco Water project and introduced the Produce Futuro Fund. Additional baseline interviews were completed with a further 9 parties, including 7 Indigenous organisations and 2 neighbourhood associations.

Launched in September, the Produce Futuro Fund will provide grants to successful applicants to support economic development in the Huasco Valley. Hot Chili coordinated the launch and held support sessions to help community members apply. The company received more than 300 applications, with 55 grants to be awarded next quarter.

Figure 1. Long section view (A – A') showing recent drill hole results DKP084 (± 75m clipping) and +0.3% copper (red), +0.4% (purple) copper interpolants and extent of visual estimate³ of porphyry -style copper mineralisation in DKD100, relative to the La Verde Discovery

Figure 2. Plan view map of La Verde showing recent drill hole results and updated +0.2% copper (yellow), +0.3% copper (red), +0.4% copper (magenta) mineralisation interpolants. Drilled holes with pending assays are shown in black. Position of A – A' long section (Figure 1 and 3) and B - B' (Figure 4) and C – C' (Figure 5) annotated with white dashed lines. Conceptual open pit shells¹ displayed for $US3.50/lb Cu (short dash) and $US6.00/lb Cu (long dash) displayed as dashed lines. Results reported including CuEq², visual estimate from DKD100 shown³.

Figure 3. Long-section slice (A – A') showing drill hole results and updated +0.2% copper (yellow), +0.3% copper (red), +0.4% copper (magenta) mineralisation interpolants. Returned Cu grades shown on hole traces, drilled holes with pending assays are shown in black. Conceptual open pit shells¹ displayed for $US3.50/lb Cu (short dash) and $US6.00/lb Cu (long dash) displayed as dashed lines. Results reported including CuEq², visual estimate from DKD100 shown³.

Figure 4. Cross section slice (B – B') showing recent drill hole results DKP063, DKP064, DKP059 and DKD060 (± 75m clipping) and updated +0.2% copper (yellow), +0.3% copper (red), +0.4% copper (magenta) mineralisation interpolants. Returned Cu grades shown on hole traces, drilled holes with pending assays are shown in black. Conceptual open pit shells¹ displayed for $US3.50/lb Cu (short dash) and $US6.00/lb Cu (long dash) displayed as dashed lines. Results reported including CuEq².

Figure 5. Cross section slice (C – C') showing drill hole results for DKP075 and DKP078 (± 75m clipping) and updated +0.2% copper (yellow), +0.3% copper (red), +0.4% copper (magenta) mineralisation interpolants. Returned Cu grades shown on hole traces, drilled holes with pending assays are shown in black. Conceptual open pit shells¹ displayed for $US3.50/lb Cu (short dash) and $US6.00/lb Cu (long dash) displayed as dashed lines. Results reported including CuEq².

Table 1. Drill Holes Completed for La Verde in Quarter 3 2026

Table 2. Significant Drilling Intersections from La Verde in Quarter 3 2026

Strategic Partnering Process Update

Hot Chili continues to advance its asset-level strategic Partnering Process, aimed at introducing one or more qualified partners with the financial, technical and operational capability to assist in funding and delivery of the projects.

During the quarter management continued to facilitate ongoing due diligence activities, including arranging site visits, while discussions continued in relation to existing non-binding, indicative, incomplete and conditional proposals received for potential transactions involving the projects. 

The Partnering Process may result in a range of transactions for the Projects. Investors are cautioned that there is no certainty the Partnering Process will result in a transaction or binding agreement.

BMO Capital Markets continues to act as financial adviser in connection with the Partnering Process.

The Company will continue to update the market in accordance with its continuous disclosure obligations.

OR Royalty Amendment Agreement

During the quarter, Hot Chili completed the Amended and Restated Investment Agreement with OR Royalties Inc. ("OR"), receiving net proceeds of A$20.4 million, after transaction costs, from the additional US$15 million royalty investment.

The transaction brings total consideration received under the OR royalty arrangement to US$30 million and expands OR's royalty interest to include the La Verde Project.

The additional non-dilutive funding further strengthens the Company's balance sheet and supports the ongoing advancement of La Verde and the broader Costa Fuego copper-gold development.

The agreement also incorporates an updated change of control buy-back provision, preserving strategic flexibility as the Company progresses its Strategic Partnering Process.

For further details, refer to the Company's announcement dated 7 July 2026.

Cash Position

As of 30 September 2026, the Company had cash of A$29.3 million and no debt.

The operating expenditure for quarter ended 30 September 2026 included payments for staff costs of A$1.3 million and administration and corporate costs of A$1.5 million.

The investing expenditure for quarter ended 30 September 2026 included payments for tenements of A$3.4 million relating mostly to the payment of the San Antonio Purchase Option Agreement for US$2 million, and payments for exploration and evaluation of A$10.1 million relating to drilling (four drill rigs in operation) and development study activities across the La Verde copper-gold porphyry discovery, value engineering workstreams and EIA submission activities. This was offset by the receipt of A$20.4 million (net of costs) from the OR Royalty Amendment Agreement.

With the Phase 2 resource infill and extensional drilling program at La Verde scheduled for completion by the end of October 2026, the Company anticipates a material reduction in exploration expenditure in subsequent quarters.

Capital Structure

The following summarises the Company's securities on issue:

• 202,901,656 ordinary fully paid shares
• 1,212,121 options at AUD $2.145 expiring 12 August 2028
• 420,302 service rights
• 4,729,457 performance rights

Additional ASX Disclosure Information

ASX Listing Rule 5.3.2: There was no substantive mining production and development activities during the quarter.

ASX Listing Rule 5.3.3 - Schedule of Mineral Tenements as of 30 September 2026.

The schedule of Mineral Tenements and changes in interests is appended at the end of this activities report.

ASX Listing Rule 5.3.4: Reporting under a use of funds statement in a Prospectus does not apply to the Company currently.

ASX Listing Rule 5.3.5: Payments to related parties of the Company and their associates during the quarter per Section 6.1 of the Appendix 5B totalled $234,000. This is comprised of directors' salaries and superannuation of $234,000.

Health, Safety, Environment and Quality

Field operations during the quarter included geological reconnaissance activities, diamond and reverse circulation drilling, sampling baselines and site investigations for EIA and revised PFS2, across the Company's Costa Fuego project landholdings, focused on La Verde and Productora. Activities on new tenements are run at the Productora or Cortadera operations centers and their safety statistics are included under the figures for all projects.

One Lost Time Injury (LTI) was recorded during the quarter. The LTI occurred during diamond drilling activities when an accident in retrieving a sample resulted in a fractured finger.

Hot Chili's sustainability framework ensures an emphasis on business processes that target long-term economic, environmental and social value. The Company is dedicated to continual monitoring and improvement of health, safety and the environmental systems. There is no greater importance than ensuring the safety of our people and their families. 

Table 3. HSEQ Quarter 3 2026 Performance and Statistics

Tenement Changes During the Quarter

During the Quarter, Sociedad Minera La Frontera SpA ("La Frontera") exercised the option granted under the San Antonio Purchase Option Agreement, thereby acquiring ownership of 30 mining concessions.

During the reporting period, La Frontera also obtained the extensions of the following mining exploration concessions: "Cortadera 1", "Cortadera 2", "Cortadera 3", "Cortadera 4", "Cortadera 5", "San Antonio 1", "San Antonio 2", "San Antonio 3", "San Antonio 4" and "San Antonio 5"

In the course of the Quarter, the following mining exploration concessions have expired upon reaching their expiration date: "CF 1", "CF 2", "CF 3", "CF 4", "CF 5", "Juli 19", "Juli 20", "Juli 22", "Juli 23", "Julieta 5", "Julieta 6", "Julieta 7", "Julieta 8", "Julieta 9", "Julieta 11", "Julieta 12", "Julieta 16" and "Julieta 17".

In addition, during the quarter, La Frontera filed the following exploitation mining claims (manifestaciones), exercising the preferential rights arising from the corresponding exploration concessions: "CF 1 1/60", "CF 2 1/60", "CF 3 1/60" and "CF 4 1/40". Furthermore, Sociedad Minera El Aguila SpA ("El Aguila") has claimed the following mining exploitation concessions, exercising the preferential rights arising from the corresponding exploration concessions: "Juli 19 1/60", "Juli 20 1/60", "Juli 22 1/60", "Juli 25 1/60", "Julieta 5 1/40", "Julieta 6 1/40", "Julieta 11 1/60", "Julieta 12 1/60", "Julieta 16 1/40" and "Julieta 17 1/40". In addition, during the period, El Aguila also filed the exploitation mining claim (manifestación) "Julita 7 1/60", which covers the areas comprised within the Julieta 8 and Julieta 9 exploration concessions, as well as the exploration mining application (pedimento) "Bigotes 10".

Finally, during the period, the exploration mining concessions "CF Sur 17", "CF Sur 27", and "CF Sur 30" were judicially declared lapsed because of non-compliance with Article 112 bis of the Chilean Mining Code, which prohibits the overlap of exploration mining concessions held by the same owner. Notwithstanding the foregoing, the area covered by such concessions is encompassed within the exploitation mining concessions currently undergoing the constitution process, namely "Porfiada Sur 1 1/60", "Porfiada Sur 2 1/60", "Porfiada Sur 3 1/40", and "Porfiada Sur 4 1/60". To avoid becoming subject to the same restriction, La Frontera abandoned the exploration concession applications "CF Sur 36" and "CF Sur 37", which were then in the process of being constituted.

The Company's existing tenements are detailed in the tables below.

Table 4. Current Tenement Holdings in Chile as of 30 September 2026

Cortadera Project Tenements

^{Note. Frontera SpA is a 100% owned subsidiary company of Hot Chili Limited}

Productora Project Tenements

^{Note:  SMEA SpA is subsidiary company - 80% owned by Hot Chili Limited, 20% owned by CMP (Compañía Minera del Pacífico)
Note: Frontera SpA is a 100% owned subsidiary company of Hot Chili Limited.}

Domeyko Project Tenements