V Ten Metals Provides Update on Drill Program at the Tanami Property, NT, Australia

V Ten Metals Corp. (VTEN) has completed its initial Reverse Circulation (RC) drilling program at the Tanami Property in the Northern Territory, Australia. The company is now transitioning to diamond core drilling to obtain higher-quality geological samples. This shift was prompted by the unexpected discovery of subsurface water, which hindered air-based RC methods but provides the necessary water supply for diamond core operations.

The drilling contractor is currently reconfiguring the rig for diamond core drilling, with operations scheduled to restart later in October 2026. The works program is partially funded by a $115,000 government grant from the Northern Territory Department of Mining, Geophysics and Drilling Collaborations program. The Tanami Property comprises four semi-contiguous exploration licenses covering 1,237 sq km, located approximately 450 km northwest of Alice Springs.

V Ten Metals Corp. (VTEN) issued an operational update following its July and August announcements regarding the inaugural drill program. The company has pivoted to diamond core drilling, a standard industry response to hydrogeological conditions that provides superior structural and mineralogical data compared to RC chips. This shift was prompted by the discovery of subsurface water, a minor positive operational development that facilitates the next phase of drilling rather than constituting a geological discovery.

The update includes an $115,000 grant, which covers a fraction of the drilling costs and indicates continued reliance on company cash and future financings for the remainder of the program. The news does not contain new geological results, resource definitions, or financing announcements, remaining in line with previous expectations and management's stated exploration roadmap.

V Ten Metals Corp. is an exploration-stage mining company focused on the Tanami Project in the Northern Territory, Australia. The flagship project covers 1,237 sq km across four granted exploration licenses: EL 23848, EL 31402, EL 23874, and EL 23875. The property is strategically located approximately 30 km east of Newmont's Granites Gold Mine.

Geological targets at the site include nickel-copper-PGE, orogenic gold, and rare earth elements (REE). The company operates under a farm-in joint venture agreement with Newmont Exploration Pty Ltd, which can earn up to an 80% interest by committing $500,000 in initial expenditures and $3.5M AUD over three years. The company transitioned from a capital pool shell to an active Tier 2 mining issuer following a qualifying transaction in February 2026.