High-Grade Tungsten Mineralization Confirmed at Rackla Metals' Lentung

Rackla Metals Inc. (RAK) has released assay results from the first four modern diamond drill holes at its Lentung tungsten skarn project in the Northwest Territories. The company identified scheelite under short-wave ultraviolet light in all Central Zone holes, confirming mineralization across the tested intervals.

The results from the initial four holes are as follows:

• DDH26L-001: 20.35 m @ 1.72% WO3, 0.14% Cu (from 11.00 m to 31.35 m).
• DDH26L-002: 17.95 m @ 2.28% WO3, 0.09% Cu (from 32.00 m to 49.95 m).
• DDH26L-003: 17.90 m @ 1.67% WO3, 0.06% Cu (from 23.00 m to 40.90 m).
• DDH26L-004: 20.50 m @ 0.90% WO3, 0.02% Cu (from 37.00 m to 57.50 m).

These intervals represent downhole lengths rather than true widths. Holes 001 and 002 were drilled on a 45° section from a single pad on the Western Skarn body to serve as up-dip and down-dip tests, while holes 003 and 004 were located on a section 20 meters to the west. The mineralized zone outcrops at the surface and dips shallowly with the hillside, with the interval projecting to the surface approximately 40 meters up-dip of hole 001.

To date, the Central Zone has been tested over approximately 600 meters of strike. Assays have been received for four of the 44 holes drilled in this zone, with DDH26L-005 still pending. The company expects further assays and historical core re-assays over the next two to three months, which will feed into a modern resource estimate.

While diamond drilling performed well, reverse circulation (RC) drilling was discontinued after five holes due to groundwater inflows that compromised sample quality.

Rackla Metals Inc. (RAK) released drill results that serve as a modern confirmation of its known high-grade system, a development that de-risks the company’s ambition to define a resource by Q1-2027. As a pre-resource explorer with a market capitalization of approximately C$58M, the initial confirmation of grades in this stage of exploration represents new information to the market.

The stock had already reacted to the drilling campaign and pending assays, rising from roughly $0.14 in early August 2026 to $0.34 by late September. This movement, representing a 2.3x increase, occurred against the backdrop of a record tungsten price, indicating that the market was already pricing in the confirmation of historical grades.

This release delivers that confirmation without introducing new dimensions such as a new zone, a new intrusive centre, or a scale step-change beyond what the historical 15 zones and 600 m Central Zone already implied. The delta versus the embedded market expectation is neutral to slightly positive. The best three holes beat the historical average grade, while hole 004 was in line or slightly below. No new scale was added to the deposit.

Rackla Metals Inc. (TSX-V: RAK; FSE: RLH1) is a Vancouver-based junior explorer led by Simon Ridgway of Gold Group, focused on tungsten and rare earths in the Tombstone-Tungsten Belt. The company’s flagship asset is the Lentung tungsten project in the Northwest Territories, which it owns 100% subject to a 1% net smelter return. Located 55-60 km north of the past-producing Cantung mine, the property covers 19,600 hectares and contains 15 historically identified tungsten zones along a 15 km strike. Historical drilling by Union Carbide between 1977 and 1982 totaled 26,900 meters.

Rackla also holds other assets, including the Grad gold (RIRGS) property, where 2025 drilling results were disappointing, as well as regional targets Manta, Calypso, and Ogre. The company is also pursuing the South Lened rare-earth target in the NWT, supported by Mineral Incentive funding.

The company has approximately 182.5 million basic shares and ~197.3 million fully diluted shares, with ~28% insider ownership. As of September 2026, the treasury held approximately $12 million. Rackla completed consecutive flow-through raises at $0.215 in May 2026 and $0.365 in September 2026. The company currently has no production or revenue but is funded for its 2026 program.