Tectonic Metals Intersects 5.61 g/t Au Over 41.15 m, Including 12.94 g/t Au Over 13.72 m, Within 2.86 g/t Au Over 91.44 m, Strengthening Evidence for a Second Gold System at the Flat Gold Project

Tectonic Metals Inc. (TECT) reported assay results from six reverse circulation holes totaling 525 meters at the Black Creek target of its Flat Gold Project in Alaska. The most significant intercept came from hole CMR26-159, which returned 2.86 g/t Au over 91.44 meters starting from 22.86 meters downhole. This interval included higher-grade segments of 5.61 g/t Au over 41.15 meters at the end of the hole and 12.94 g/t Au over 13.72 meters. The hole terminated while still in mineralization.

CMR26-159 is located 100 meters south of the 2025 Black Creek discovery hole CMR25-059 and 30 meters south of previously reported holes CMR26-152 and CMR26-153. Hole CMR26-158 returned 0.46 g/t Au over 30.48 meters from surface, including 1.23 g/t Au over 6.10 meters, plus a separate intercept of 0.31 g/t Au over 30.48 meters. In contrast, CMR26-157 returned no significant gold intersections and was terminated at 42.67 meters, above the depth of the high-grade interval found in CMR26-159. Holes CMR26-154 through CMR26-156 returned predominantly low-grade material, with the best local result being 1.99 g/t Au over 1.52 meters in CMR26-155.

The release also repeated prior results originally reported on August 25, 2026, including CMR26-152 at 5.09 g/t Au over 21.34 meters and CMR26-153 at 1.89 g/t Au over 57.91 meters. Black Creek mineralization is hosted in hornfelsed Kuskokwim Group sedimentary rocks characterized by quartz-carbonate-stibnite veining, oxidation, fracturing, and mafic dykes, which is distinct from the monzonite-hosted mineralization at Chicken Mountain. The company reports a 1,500 m by 700 m gold-in-soil anomaly at Black Creek, with more than 85% untested, situated inside a larger 1.5 km by 2.5 km geophysical anomaly.

Tectonic Metals Inc. (TECT) released data regarding its Black Creek project, noting that the announcement does not constitute an earnings release and contains no new financial results. At June 30, 2026, the company held C$83.2 million in cash and C$81.2 million in working capital with no debt, recording a first-half 2026 net loss of C$18.6 million. The management discussion and analysis includes a going-concern flag, stating that additional equity financing will likely be required beyond the next 12 months.

The equity is classified as a pre-resource explorer with a market capitalization of approximately C$184 million based on a share price of C$1.37 and 134.5 million shares outstanding. The enterprise value is roughly C$101 million after accounting for cash. The company currently has no mineral resource estimate.

The primary context for the project is the January 29, 2026 Black Creek discovery, drill hole CMR25-059, which returned 4.50 g/t Au over 48.77 m, equating to 219.5 gram-metres. The stock closed at C$2.49 on January 29 and C$3.15 on January 30, following a period where it traded around C$1.00 prior to the January 22 Chicken Mountain release.

The stock has since fallen from C$3.15 to C$1.37, representing a decline of approximately 56% from the 52-week high and dropping below the August 25 Black Creek step-out reaction level of C$2.73. The current valuation does not reflect the discovery event.

The latest result, CMR26-159, is approximately 19% higher in total gram-metres than the initial discovery. It features a longer mineralized interval, a high-grade core above the discovery’s high-grade core, and represents a 100 m step-out. While the grade is lower than the discovery headline, the width and total metal content are better.

This result adds a credible second centre with a strong high-grade shoot, changing the perceived scale and odds at Black Creek. It does not yet add tonnes to the maiden mineral resource estimate, which is focused on Chicken Mountain and targeted for Q1 2027.

Tectonic Metals Inc. (TSXV: TECT; OTCQX: TETOF) is a gold explorer whose flagship asset is the Flat Gold Project in southwestern Alaska. The company holds 99,840 acres of predominantly Native-owned land through a strategic partnership with Doyon, Ltd., which is also a large shareholder. The Flat project is a district-scale reduced intrusion-related gold system featuring six multi-kilometre-scale targets: Chicken Mountain, Alpha Bowl, Black Creek, Jam, Golden Apex, Horseshoe, and Caribou.

Current operations are focused on resource delineation at Chicken Mountain and Alpha Bowl, with a maiden NI 43-101 Mineral Resource Estimate targeted for the first quarter of 2027 and a Preliminary Economic Assessment targeted for the second quarter of 2027. Black Creek, located approximately 6 km north of Chicken Mountain, is being advanced as a potential second gold centre.

Financially, the company reported C$83.2 million in cash and C$81.2 million in working capital as of June 30, 2026, with no debt and 134.5 million shares outstanding. The first-half 2026 net loss was C$18.6 million, driven by the expanded Flat drill program. In March 2026, Tectonic Metals completed a C$92.0 million private placement at C$2.15 per share.

Management is associated with the Kaminak Gold team that advanced the Coffee Gold Project, which was acquired by Goldcorp for C$520 million in 2016.