Tectonic Metals Delivers Record 18,372 Metres Across 125 Drill Holes at Flat Gold Project, Alaska

The November 12, 2025 news release announces the successful completion of Tectonic's 2025 exploration program at its Flat Gold Project in Alaska. Key points include: - A total of 18,372 metres were drilled across 125 holes in a two-phase campaign, exceeding the planned 16,000 metres. - The program was funded by a "transformational" capital raise of $33.9 million USD in 2025, which included participation from institutional investors Crescat Capital, VanEck, and Franklin Templeton. - The company reiterated the first assay result from the program, hole CMR25-035, which was a 250-metre step-out from the 2024 discovery and intersected 41.15 metres of 2.23 g/t Au. This result was previously announced on September 10, 2025. - All samples from both drill phases have been received by the labs, with assays pending and expected to be released sequentially. - The company is also making infrastructure investments to support year-round operational capacity.

This news is a significant de-risking event and validation of the company's strategy and project potential.

• Financing (Game Changer): The confirmation of a $33.9 million USD capital raise (~$46.5M CAD) is transformational for a junior explorer of this size. It fully funds the company for aggressive exploration, a maiden resource estimate, and economic studies for the foreseeable future, removing any financing overhang. More importantly, the participation of major institutional funds like VanEck and Franklin Templeton alongside the company's main backer, Crescat Capital, provides immense third-party validation of the project's potential. This is a clear vote of confidence from sophisticated investors.

• Operational Execution (Positive): The company successfully completed a massive 18,372-metre drill program, exceeding its own ambitious target of 16,000 metres. This demonstrates strong operational capabilities in a challenging jurisdiction like Alaska and builds significant management credibility. They have executed their stated plan from discovery, to financing, to large-scale drilling.

• Drill Results (Neutral/Anticipation): The release contains no new drill results. It reiterates the strong intercept from CMR25-035, which was first reported two months prior on September 10. While positive, this result is already priced into the market. The entire market is now waiting for the assays from the remaining 124 drill holes. The news confirms the program is complete and samples are at the lab, shifting the focus entirely to pending results. This creates a period of high anticipation, but also high risk, as the stock's future performance is now almost entirely dependent on the quality of those forthcoming assays.

In the context of historical news, this release represents the successful culmination of the strategy laid out in early 2025, starting with the Alpha Bowl discovery in March, the share consolidation and initial financing in May, the upsized financing in August, and the launch of the two-phase drill program. The company has delivered on all its promises, and on a larger scale.

Tectonic Metals Inc. is a Canadian-based junior mineral exploration company focused on gold projects in Alaska. Its flagship asset is the district-scale Flat Gold Project, located in the Kuskokwim mineral belt, approximately 40 km from the 39-million-ounce Donlin Gold project. The Flat project is notable for its historical placer gold production of 1.4 million ounces. Tectonic is targeting a large-scale, open-pit, heap-leachable Reduced Intrusion-Related Gold System (RIRGS). The primary focus of the 2025 program has been the new Alpha Bowl discovery, believed to be the bedrock source of over 650,000 ounces of placer gold, and the adjacent, more advanced Chicken Mountain target.