Oreterra CEO Letter to Shareholders Provides Forward Guidance on Trek South Drill Results in Advance of Assays

Oreterra Metals Corp. (OTMC) released a CEO letter to shareholders on October 5, 2026, providing a qualitative assessment of its recently completed Phase 1 drill program at the Trek South project in the Golden Triangle, British Columbia. The release was issued in advance of laboratory assays expected later in the month and next.

The Phase 1 program targeted the Trek South "A" Zone, comprising 11 holes totaling approximately 4,100 metres. This subset follows September releases that described 13 holes and 4,500 metres, which included two short holes at the "Toe" Zone. The strongest visual results were observed in three central holes: TS26-06, TS26-09, and TS26-10.

Geological observations noted broad, multi-hundred-metre intervals of porphyry-style alteration described as intense and generally non-magnetic, extending at least several hundred metres in vertical depth. Copper minerals observed included bornite, chalcopyrite, chalcocite, malachite, and chrysocolla. Mineralization ranged from trace amounts across several hundred metres to locally appreciable concentrations over shorter intervals.

New interpretive content identified a magnetic "ship's prow" feature in underlying magnetic data. This feature is interpreted as a magnetically positive porphyry intrusion tilted southeast, camouflaged beneath strongly magnetic volcanic rocks and later intrusions, with the alteration halo situated above it. The company concluded that Phase 1 drilled the "roof" of the system, with the intrusive root interpreted to lie beneath and southeast of the central drill fence, below TS26-06, TS26-09, and TS26-10. Phase 2, scheduled for 2027, is being designed to drill into that root.

The release provided no assay grades, intercept lengths in metres, true widths, cutoff grades, from/to intervals, or drill-hole tables. Oreterra Metals conceded that actual copper and gold grades, continuity and thickness of mineralization, the dimensions of the intrusive root, whether the root contains the grades expected, and whether the system ultimately develops into an economically significant discovery remain to be established.

The Qualified Person for the release is John Biczok, P.Geo., VP Exploration.

Oreterra Metals Corp. (OTMC) released a statement containing no new hard data, recycling geological observations previously published on August 25 and September 17, 2026. These prior disclosures included details on bornite, chalcopyrite, chalcocite, malachite, chrysocolla, multi-hundred-metre alteration, the central three holes, and the intrusive-root vector. The only new content in the current release is a "ship's prow" magnetic interpretation and confirmation that Phase 2 is scheduled as a 2027 event.

The market has already assessed the visual story associated with the company. On August 25, 2026, following news of bornite, the stock closed at $0.60, up from $0.45 the prior day, but gave back the entire move the following session to close at $0.43. Since mid-August, when the stock was at $0.45, it has declined steadily to $0.26 on October 2, 2026, down from a February 2026 high of $0.70.

Because the stock has not re-rated, there is no embedded positive anchor to fall short of, nor is there a positive result to reward. No assay has ever been published on the Trek South property, and this release does not narrow that gap. A mildly adverse substantive point is that Phase 1 did not intersect the interpreted source. Management described the Phase 1 program as having put the program directly over what they believe to be the core, a framing that indicates the holes missed the target they were sited for. The remedy is a 2027 programme, which pushes the first genuine test of grade out roughly a year beyond the assays now pending.

As a grassroots/pre-resource explorer, Oreterra Metals Corp. operates in a stage where early news is typically thin and market pricing scales with confidence. A CEO letter that recycles visuals while assays are pending is considered routine news flow. It neither advances nor damages the thesis, serving instead as a placeholder until the assay release, now expected within weeks, acts as the actual catalyst.

Oreterra Metals Corp. is the renamed and 10-for-1 consolidated successor to Romios Gold Resources Inc. It began trading as OTMC on the TSX Venture Exchange on February 2, 2026, and also trades on OTCQB (OTMCF) and Frankfurt (D4R0). The company has approximately 53,477,549 common shares as of March 31, 2026, plus warrants (roughly 4.0 million pre-existing at $0.50, plus ~20.6 million new warrants at $0.60 issued in the March 2026 placement) and options.

The primary asset is the 100%-owned Trek property in the Golden Triangle, BC, whose flagship is the Trek South porphyry Cu-Au prospect, exposed by recent glacial retreat, adjacent to and southeast of Teck-Newmont's Galore Creek project. A NI 43-101 technical report dated January 20, 2026 (QP Linda Dandy, P.Geo., and John L. Biczok, P.Geo.) recommends Phase 1 (4,650 m / 8 holes, ~C$3.6M) and Phase 2 (4,600 m / 8 holes, ~C$3.2M). Secondary targets on the Trek property include Tundra (porphyry, 1 km west), Tomb (porphyry, 1.3 km north), Toe (Eskay Creek/VMS style, 600 m west), plus newly identified B and C zones.

Other assets include the Kinkaid Cu-Au-Ag claims in Nevada's Walker Lane trend (43 new claims staked September 1, 2026; five suspected porphyry centres and two epithermal prospects; IP-MT survey planned); the Scossa mine property in Nevada's Sleeper trend (former high-grade gold producer); the Lundmark-Akow Lake Au-Cu property in Ontario adjacent to the Musselwhite mine, with prior broad VMS-style Au-Cu intersections; and the JW porphyry prospect, 6 km northwest of Galore Creek, surrounded by Teck-Newmont tenure.

Royalty interests include a 2% NSR on McEwen Mining's Hislop property (Ontario) and a 1% NSR retained on Enduro Metals' Newmont Lake property (BC), after the April-June 2026 buy-down that delivered 3.9 million Enduro shares plus ~C$1.1M cash up front and up to C$22M in staged payments.

Financials (prior-period context, as reported to March 31, 2026 — not disclosed in today's release) show cash of C$9,048,681; total assets of C$9,340,590; total liabilities of C$598,627; total equity of C$8,741,963; book value per share of C$0.16; and a net loss of C$1,901,412 for the nine months, driven by C$1,418,071 of share-based compensation and higher professional and management fees. The C$9.7M placement closed March 5, 2026 with >115 investors, 83% new, with major funds at roughly 25% fully diluted. No mineral resource or reserve is defined on any property. Management states it can cover corporate overhead for approximately twelve months.