Axo Metals Drilling Intercepts 18.0 Metres of 8.15 g/t Au at San Antonio Project; First Step Out Drilling Reports Strong Grades Directly From Surface 750 Metres Beyond Resource

HALIFAX, NS / ACCESS Newswire / September 14, 2026 / Axo Metals Corp. (TSXV:AXO) ("Axo", "Axo Metals" or the "Company") is pleased to announce a series of drilling results from its San Antonio project in Sonora, Mexico. The drilling contained within the release represents the first significant step-out drill results from outside the resource, in conjunction with drill results within and around the Sapuchi deposit. "While the drilling in and around Sapuchi continues to report very strong results, we are excited to announce the initial assays from step out holes well outside the resource boundary" says Jonathan Egilo, President & CEO. "We are excited to follow up on these initial results at the new Luz del Cobre target. Ongoing drilling is being done both in and around the Luz del Cobre historical pit, in addition to testing the wide gap zone that sits between Luz del Cobre and Sapuchi." San Antonio Drill Results The Company is reporting the results of 29 holes, which represents approximately 5,000 metres of drilling. Today's results are from the first resource growth and step out drilling performed by Axo since its acquisition of the San Antonio project earlier this year. The step out drilling is in the Luz del Cobre area and has seen strong gold mineralization directly from surface. Standout hole SOSAP-26-048, which returned 46.5 metres grading 1.43gpt Au of oxide mineralization directly from surface, was collared approximately 750 metres outside the Sapuchi resource boundary, to the east. The Company is also reporting additional drilling from within and around the Sapuchi resource. Axo is considering Sapuchi as a potential starter-pit due to its high-grade oxide resources, and favourable topography. The goal of the Sapuchi drill program is to target opportunities to convert areas within the block model that were previously considered as waste, in addition to upgrading resource confidence. There are currently three drill rigs operating at San Antonio. Highlights from the results include: Hole SOSAP-26-048 which reported the first 46.5 metres drilled directly from surface grading 1.43gpt Au of oxide. The hole was collared well outside the existing resource, ~750 metres to the east of the Sapuchi deposit at the Luz del Cobre target. Hole SOSAP-26-039 which assayed 8.15g/t Au over 18.0 metres from only 18 metres down the hole at Sapuchi. The interval is entirely oxide mineralization. Hole SOSAP-26-027 which assayed 1.16g/t Au over 47.1 metres from 13 metres down the hole at Sapuchi, the majority of which was oxides before moving to transition material near the bottom of the interval. Hole SOSAP-26-025 which assayed 0.87g/t Au over 75.0 metres from surface at Sapuchi, the majority of which was oxides. Hole SOSAP-26-028 which assayed 1.20g/t Au over 49.7 metres from 79 metres down the hole at Sapuchi. FIGURE 1: NEW DRILLHOLE LOCATIONS ACROSS THE SAPUCHI DEPOSIT AND LUZ DEL COBRE TARGET Figure 2 below shows a cross section through the Luz del Cobre pit, and the gap area separating Luz del Cobre and the Sapuchi resource pit. The Luz del Cobre historical pit was operated from 2011 to 2018 and solely focused on the mining of copper oxide, with 2.8Mt of copper oxide ore mined in that time period. Axo developed a thesis that the Luz del Cobre area had a gold mineralizing event, separate from the copper mineralizing event, and began drilling the area to test for gold prospectivity. Initial results are highly encouraging. All drilling in the Luz del Cobre area and the gap zone between Luz del Cobre and Sapuchi is outside current resources and provides resource upside. FIGURE 2: SECTION VIEW ACROSS LUZ DEL COBRE HIGHLIGHTED BY HOLE SOSAP-26-048 At the base of the historical Luz del Cobre pit, results are highlighted by hole SOSAP-26-048, which returned 46.5 metres grading 1.43gpt Au from surface. The Company has since been drilling up the Luz del Cobre highwall, stepping closer towards Sapuchi. Hole SOSAP-26-080 was collared roughly 380 metres west of hole SOSAP-26-048. While assays remain outstanding, the Company notes that hole SOSAP-26-080 has intercepted hydrothermal breccia, consistent with the rock type that hosts gold mineralization at Luz del Cobre. Mineralized hydrothermal breccia has also been observed in trenches that the Company has made in the west highwall of the Luz del Cobre pit. Trenching results have been strong, highlighted by 20.7m grading 1.08gpt Au. The Company's field sampling exploration work has been able to benefit from an on-site laboratory which was originally installed when San Antonio was in production. This has allowed for target generation work including grab samples and trench samples to be processed on site, while all drilling will continue to be assayed by a third-party lab. Thus, trenching results are indicative but preliminary, and have not yet been verified by an independent, certified commercial laboratory. See QAQC section for more details. Axo is continuing with subsequent drilling in the base of the historical Luz del Cobre pit, as well as within the Sapuchi-Luz del Cobre gap. Table 1: San Antonio Assay Results Hole ID Area Comment1 From To Length Au Grade m m m gpt SOSAP-26-022 Sapuchi Transition 61.50 67.50 6.00 0.56 and Sulphide 145.50 196.50 51.00 0.85 incl. Sulphide 164.00 170.63 6.63 3.10 SOSAP-26-023 Sapuchi NSV SOSAP-26-024 Sapuchi Transition 102.38 172.00 69.62 1.24 incl. Transition 118.72 130.14 11.42 2.17 incl. Transition 138.00 145.00 7.00 2.55 incl. Sulphide 161.70 166.50 4.80 2.75 SOSAP-26-025 Sapuchi Oxide/Transition 0.00 75.00 75.00 0.87 incl. Oxide 31.30 38.40 7.10 2.34 incl. Transition 57.15 63.75 6.60 1.74 and Transition 97.80 118.20 20.40 0.59 SOSAP-26-026 Sapuchi NSV SOSAP-26-027 Sapuchi Oxide/Transition/ Sulphide 13.10 60.20 47.10 1.16 incl. Oxide 13.90 23.35 9.45 3.01 incl. Oxide 35.60 43.00 7.40 1.03 incl. Transition 57.95 60.20 2.25 2.78 and Sulphide 72.60 77.55 4.95 2.62 SOSAP-26-028 Sapuchi Transition/ Sulphide 78.83 128.50 49.67 1.20 incl. Sulphide 97.24 115.35 18.11 1.91 SOSAP-26-029 Sapuchi Sulphide 106.45 129.55 23.10 0.71 incl. Sulphide 107.25 112.15 4.90 1.23 incl. Sulphide 122.20 126.20 4.00 1.21 SOSAP-26-030 Sapuchi Transition/ Sulphide 55.00 99.00 44.00 0.93 incl. Transition 55.00 63.00 8.00 1.82 incl. Sulphide 88.50 93.00 4.50 1.77 SOSAP-26-031 Sapuchi Sulphide 176.25 201.00 24.75 1.12 incl. Sulphide 177.00 181.35 4.35 1.81 incl. Sulphide 195.70 201.00 5.30 1.65 SOSAP-26-032 Sapuchi Oxide/Transition 25.00 39.30 14.30 1.00 incl. Oxide 25.00 27.00 2.00 1.65 incl. Transition 35.05 37.90 2.85 2.26 SOSAP-26-033 Sapuchi Transition 106.00 120.45 14.45 0.69 and Sulphide 171.00 183.80 12.80 0.60 incl. Sulphide 176.10 179.15 3.05 1.20 SOSAP-26-034 Sapuchi Transition 32.00 35.40 3.40 1.43 SOSAP-26-035 Sapuchi Oxide 48.40 69.00 20.60 0.97 incl. Oxide 61.00 69.00 8.00 1.46 SOSAP-26-036 Sapuchi Sulphide 117.00 117.50 0.50 6.85 SOSAP-26-037 LDC Oxide 0.00 15.00 15.00 0.35 SOSAP-26-038 Sapuchi Sulphide 97.05 121.85 24.80 0.28 incl. Sulphide 111.85 118.50 6.65 0.76 SOSAP-26-039 Sapuchi Oxide 18.00 36.00 18.00 8.15 incl. Oxide 24.00 36.00 12.00 11.71 SOSAP-26-040 LDC Oxide/Transition 19.35 43.50 24.15 0.55 incl. Oxide/Transition 21.70 24.95 3.25 2.53 incl. Oxide/Transition 35.90 42.45 6.55 1.08 SOSAP-26-041 Sapuchi Sulphide 163.7 165.00 1.30 5.97 SOSAP-26-042 Sapuchi Oxide 47.00 56.00 9.00 0.68 incl. Oxide 47.00 51.00 4.00 1.30 and Transition 60.00 73.50 13.50 0.75 and Sulphide 105.00 118.70 13.70 0.67 SOSAP-26-043 Sapuchi Oxide/Transition 61.10 69.25 8.15 0.45 and Sulphide 84.50 133.20 48.70 0.43 incl. Sulphide 102.30 125.35 23.05 0.67 and Sulphide 143.00 186.65 43.65 0.47 incl. Sulphide 174.20 184.05 9.85 0.98 and Sulphide 196.55 216.50 19.95 0.38 SOSAP-26-044 LDC Oxide 0.00 38.50 38.50 0.40 incl. Oxide 0.00 22.40 22.40 0.59 SOSAP-26-045 LDC Oxide/Transition 13.00 50.80 37.80 0.32 and Transition 98.80 103.50 4.70 0.48 SOSAP-26-046 LDC Oxide 0.00 40.25 40.25 0.36 SOSAP-26-047 Sapuchi Oxide 13.50 21.00 7.50 2.49 and Sulphide 49.70 60.00 10.30 0.43 SOSAP-26-048 LDC Oxide 0.00 46.50 46.50 1.43 SOSAP-26-049 LDC NSV SOSAP-26-050 Sapuchi Oxide 3.60 8.35 4.75 0.36 and Transition 31.45 37.00 5.55 1.99 and Sulphide 62.10 81.50 19.40 0.69 and Sulphide 87.00 91.70 4.70 1.19 1NSV=No significant values Table 2: San Antonio Drillhole Coordinates HOLE ID Easting m Northing m Elevation m Depth m Azimuth Dip SOSAP-26-022 632060.8 3167956.5 697.4 200 0 -90 SOSAP-26-023 631799.6 3167890.9 680.0 146 0 -90 SOSAP-26-024 632013.4 3167965.9 693.6 200 0 -90 SOSAP-26-025 631839.4 3167921.8 679.3 174 0 -90 SOSAP-26-026 631866.5 3167941.3 683.3 114 0 -90 SOSAP-26-027 631744.5 3167877.8 702.9 215 0 -90 SOSAP-26-028 631976.0 3167967.6 689.0 190 0 -90 SOSAP-26-029 632036.6 3167829.6 637.4 150 0 -90 SOSAP-26-030 631968.0 3167986.1 676.6 180 0 -90 SOSAP-26-031 632214.0 3167964.8 733.8 201 0 -90 SOSAP-26-032 632011.1 3167718.9 576.5 180 0 -90 SOSAP-26-033 632115.8 3167914.5 697.2 197 0 -90 SOSAP-26-034 632047.4 3167725.9 575.2 188 0 -90 SOSAP-26-035 631723.3 3167912.1 725.0 183 0 -90 SOSAP-26-036 631679.9 3167754.6 616.2 180 0 -90 SOSAP-26-037 632699.1 3167943.5 645.8 153 0 -90 SOSAP-26-038 631828.4 3167787.5 602.0 184.9 0 -90 SOSAP-26-039 631777.7 3167828.3 653.7 180 0 -90 SOSAP-26-040 633019.5 3168105.1 520.8 154.5 0 -90 SOSAP-26-041 631768.7 3167780.4 642.6 192 0 -90 SOSAP-26-042 631780.7 3167646.9 595.8 180 0 -90 SOSAP-26-043 632083.6 3167915.7 704.5 233 0 -90 SOSAP-26-044 633044.0 3168105.0 520.4 112 0 -90 SOSAP-26-045 633044.1 3168080.0 520.4 111 0 -90 SOSAP-26-046 633019.0 3168080.0 520.9 110 0 -90 SOSAP-26-047 631666.0 3168003.8 671.6 207 0 -90 SOSAP-26-048 633019.0 3168129.9 521.5 110 0 -90 SOSAP-26-049 632603.8 3167966.6 690.1 180 0 -90 SOSAP-26-050 631567.6 3168008.7 667.3 201 0 -90 About Axo Metals Axo Metals Corp. is a Canadian mineral exploration company engaged in the exploration and development in Mexico. The Company holds two projects. The San Antonio project is located in the state of Sonora, and is in advanced development. Total resources at San Antonio stand at 576koz Au and 1.37moz Ag grading 1.20 g/t Au and 2.9g/t Ag in the Indicated category, with 544koz Au and 1.76moz Ag grading 1.02 g/t Au and 3.3g/t Ag in the Inferred category across all deposit types (oxide, transition and sulphide). Axo's second project is the La Huerta property, a new copper discovery in Jalisco, Mexico. Initial exploration has yielded high-grade copper both at surface through sampling programs, and at depth through initial drilling. The Company is focused on continuing to define near-surface mineralization along the La Huerta Trend, expanding mineralization at depth, and targeting new discoveries in an underexplored district. Additional information can be found at the Company's website: www.axometals.com. Procedure, Quality Assurance / Quality Control and Data Verification The diamond drill core (HQ size) is geologically logged, photographed and marked for sampling. When the sample lengths are determined, the full drill core is sawn with a diamond blade drill core saw with one half of the drill core being bagged and tagged for assay. The remaining half portion is returned to the drill core trays for storage and/or for metallurgical test work. The sealed and tagged drill core sample bags are transported to the ALS Chemex facilities in Querétaro and Zacatecas, Mexico. ALS Chemex crushes the samples and prepares 200-300 gram pulp samples with ninety percent passing Tyler 150 mesh (106 μm). Copper and multi-element analysis is completed using total digestion (Code ME-ICP61 Total Digestion ICP). Over limits greater than 10,000 grams per tonne copper are assayed using Cu-OG62. Quality assurance and quality control ("QA/QC") procedures monitor the chain-of-custody of the samples and include the systematic insertion and monitoring of appropriate reference materials (certified reference materials, blanks and duplicates) into the sample strings. The results of the assaying of the QA/QC material included in each batch are tracked to ensure the integrity of the assay data. All results stated in this announcement have passed Axo's QA/QC protocols. Grab and trench exploration samples are geologically logged, photographed and marked for sampling and processing in the Company's on-site laboratory. The sealed and tagged sample bags are transported to the San Antonio On Site Laboratory, in San Antonio de La Huerta, Sonora. Initially, the sample undergoes primary size reduction using a jaw crusher to a nominal particle size of 1/2 inch. The crushed material is subsequently homogenized and split using a riffle splitter. Once completely dry, the sample is pulverized with ninety percent passing 200 mesh. The prepared pulp is subsequently processed by 30g fire assay. The resulting doré bead is then dissolved by acid digestion using aqua regia. The resulting solution is diluted to the appropriate volume and analyzed by atomic absorption spectrometry (AAS) to determine the gold concentration in the sample. Quality assurance and quality control ("QA/QC") procedures monitor the chain-of-custody of the samples and include the systematic insertion and monitoring of appropriate reference materials (certified reference materials, blanks and duplicates) into the sample strings. Results are preliminary and have not yet been verified by an independent, certified commercial laboratory. Qualified Person Charles Spath, P. Geo., is the Qualified Person for Axo Metals Corp., as defined under National Instrument 43-101, and is non-independent. Mr. Spath has reviewed and approved the scientific and technical information in this press release. For inquiries, please contact: Jonathan Egilo, President and CEO Via email: [email protected] Forward-Looking information: Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes certain "forward-looking statements". All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the Company's exploration and drilling plans at the San Antonio and La Huerta projects and receipt of all necessary regulatory approvals, are forward-looking statements that involve various risks and uncertainties. Forward-looking statements are frequently characterized by words such as "will", "propose", "may", "is expected to", "subject to", "anticipates", "estimates", "intends", "plans", "projection", "could", "vision", "goals", "objective", "focus" and "outlook" and other similar words. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including, but not limited to, general business and economic conditions will not change in a materially adverse manner; the potential of gold and copper mineralization at the Company's properties; the results (if any) of further exploration work to define and expand mineral resources; the ability of exploration work (including drilling) to accurately predict mineralization; and the ability to generate additional drill targets. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, there can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include environmental risks, limitations on insurance coverage, risks and uncertainties related to exploration, development, operations, commodity prices and global financial volatility including as a result of tariffs, risk and uncertainties of operating in a foreign jurisdiction as well as additional risks described from time to time in the filings made by the Company with securities regulators. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws. Cautionary statement: by their nature, surface or chip samples are selective samples and may not represent true underlying mineralization. SOURCE: Axo Metals Corp. View the original press release on ACCESS Newswire