New Mineralised VMS System Discovered at Storm's Gold Standard Project

Storm Exploration Inc. (STRM) has completed five holes totaling 1,000 m at its 100%-owned Gold Standard Project, located 60 km north of Fort Frances, Ontario. The drilling was spaced across 1.9 km of the target’s claimed 7 km strike length.

All five holes intersected disseminated and/or semi-massive to massive sulphide mineralisation, a core-logging observation rather than an assay result. Chalcopyrite (copper) and sphalerite (zinc) were confirmed in core from all holes, alongside pyrite and pyrrhotite. These minerals are stacked in zones at mafic–felsic volcanic contacts within a bimodal sequence showing silicification, quartz-chlorite-sericite ± garnet alteration and chert exhalative horizons.

No grades, from/to intervals, widths, cutoff grades or assays of any kind are disclosed. Samples are being processed at Actlabs in Thunder Bay, with assay results expected early Q1 2027.

Dr. Stephen Piercey, PhD, P.Geo., a VMS specialist, has been engaged, and a site visit and core review is planned in the coming days. Jo Price, M.Sc., MBA, P.Geo. (Director), serves as the QP. Historical context includes four unassayed Inco holes from 1969/70 that hit Cu-Zn sulphides, and 2022 surface grabs near the HW-271 mine of 166 g/t Au, 197 g/t Ag and 1.47% Cu.

The completed program represents a reduction in scope compared to earlier releases that guided up to 1,500 m in approximately 10 holes on September 16 and up to 3,000 m on August 26 and May 4. Only 1,000 m in five holes were completed before the September 27 shutdown for the First Nations traditional moose hunt.

Storm Exploration Inc. (STRM) is a pre-resource explorer with no revenue, no resource estimate, and no preliminary economic assessment, carrying a market capitalization of roughly C$19 million. At this stage, a genuine discovery hole would be highly material to the equity, whereas a visual-only progress note is not.

The company confirmed that the conductor is sulphide-bearing across 1.9 km, with Cu-Zn sulphide species present in all five holes. This represents a modest de-risking of the concept rather than the economics, as the deposit's scale, grade, width, continuity, and metallurgy remain unknown.

The market had already priced in this phase of exploration. The stock roughly doubled from C$0.23-0.26 in early July 2026 to C$0.53 by late September 2026. This movement was driven by the Eric Sprott $2.0M placement at $0.40 on August 26, the drill commencement on September 16, and a firm critical-minerals tape. Drilling hitting sulphides in the conductor was the explicitly stated expectation of the September 16 release, which noted that "the goal of this drill program is to confirm that VMS type mineralization is associated with the large conductivity anomaly." With that goal met without a single assay, the result is news the price already assumes.

There is no prior assay anchor on this target to be disconfirmed, nor is there grade, width, or continuity evidence to exceed the price's assumption.

This is not an earnings release, so there are no financial results to assess. Prior-period context, not disclosed in today's release, shows FY-2026 net income of C$4,336,973 driven entirely by the C$5.8M Miminiska disposal gain. Cash stood at just C$111,718 at 2026-03-31, subsequently replenished by the July 2026 (~C$3.0M) and September 2026 (C$3.2M) placements. The company has no revenue and no debt.

Storm Exploration Inc. (TSXV: STRM), a pre-revenue junior explorer based in Vancouver, holds no mineral resource on any property and has not completed any economic studies. The company’s portfolio includes four primary assets.

At Gold Standard, located in the Manitou-Stormy Lakes greenstone belt approximately 60 km north of Fort Frances, Ontario, the company holds 100% interest in 373 claims covering 7,869 hectares. The property features a 7 km VTEM conductivity anomaly with ground VLF-EM refinement, interpreted as a VMS target, alongside three historical gold mines dating from 1901 to 1903. Surface grab samples collected in 2022 returned up to 166 g/t Au, 197 g/t Ag, and 1.47% Cu. The property is currently being drilled.

The Keezhik property, held at 100% interest on 12,480 hectares with a 2% NSR (subject to a 1% buyback for C$1M), contains eight drill-confirmed gold showings. Historical intersections include 25.8 g/t Au over 1.3 m and 16.2 g/t Au over 2.0 m at KL-12, as well as 18.9 g/t Au over 1.5 m at KL-27. The last drilling occurred in 1988, with new drilling guided for Q3 2026.

The Attwood property comprises 100% interest in 23,230 hectares of an underexplored greenstone belt. It features the historical Weese Lake copper showing and only 19 historical drill holes, the last of which were completed in 1972. Airborne VTEM surveys have been completed, and drill testing is guided for 2027.

In 2026, the company sold the Miminiska asset for C$5,812,500 in cash and CGDC shares. This transaction produced a FY-2026 net income of C$4.34M and reset the company’s treasury.

Regarding capital structure, the company’s share count was updated following placements in July and September 2026. Shares outstanding are now approximately 36.1M, with roughly 7.4M warrants. Previously, the structure consisted of 21.0M shares, 3.4M warrants with a weighted average exercise price of C$0.38, and 2.1M options with a weighted average exercise price of C$0.59. Eric Sprott holds approximately 15.8% non-diluted, potentially rising to 19.99% partially diluted under the warrant blocker.

Management includes President, CEO, and P.Geo. Bruce Counts; CFO Taylor Niezen; and Director and Chief Technical Consultant QP Jo Price. Independent directors are Rob L'Heureux and Dr. Alexander Shaw. Paid marketing consultants include Soar Financial, Northern Venture Group, and GoldInvest Consulting.