NeoTerrex Announces Fieldwork at Reservoir Ahead of Planned Drill Program

NeoTerrex Minerals Inc. has mobilized a four-person crew to its Reservoir project in Quebec to conduct fieldwork ahead of a planned drill program. The team is focused on validating historical exploration data, locating drill collars, and refining geological interpretations to prioritize targets at the C52 Zone, C52 South, C52 West Zone, Mitlin Zone, and Bear Island Zone. The company highlighted selected historical assay results to contextualize the geological model, noting gold and copper intersections at C52 and high-grade silver-copper-gold values at Mitlin. The project is road accessible with nearby infrastructure.

The announcement follows a definitive agreement executed on October 9, 2026, to acquire up to a 100% interest in the Reservoir Project through staged cash payments and exploration expenditures totaling $500,000 in cash and $3,000,000 in work by December 31, 2030. NeoTerrex holds an option to earn this interest from EastMain Resources Inc., a subsidiary of Fury Gold Mines Limited. This development comes after an initial Letter of Intent announced on August 19, 2026, and a September 10, 2026 exploration update that confirmed due diligence completion and permit applications for Reservoir.

Simultaneously, the company is advancing surface exploration across its portfolio, including Gravitas, which hosts tungsten, gold, and copper deposits, and Strange Lake West, which contains rare earth elements. NeoTerrex is also working on newly staked properties such as Sentinel and Incognito.

Neoterrex Minerals Inc. (NTX) has mobilized for its upcoming drill program, marking a direct execution step of the October 9 earn-in agreement. This move confirms that management is proceeding with the exploration plan as outlined and validates the company's operational capability to advance the asset.

The historical assay data provided serves as geological context rather than a new discovery. The market was already aware of the Reservoir acquisition and the planned drill program. The news is incremental and expected, introducing no new financial terms, unexpected geological discoveries, or changes to the capital structure. While the progress demonstrates momentum and de-risks the timeline for the upcoming drill program, it does not alter the fundamental investment thesis or valuation model.

NeoTerrex Minerals Inc. (TSXV: NTX) is an exploration-stage critical metals company focused on developing projects in Quebec, Canada. The company’s strategy leverages Quebec's mining-friendly jurisdiction, low-cost hydroelectric power, and proximity to existing infrastructure to target rare earth elements (REE), tungsten, copper, gold, and silver. Management is led by President and CEO Mathieu Stephens, P.Geo, who also serves as the Qualified Person under NI 43-101.

The company’s flagship Reservoir Project is a 6,090-hectare polymetallic property in the Eastmain Greenstone Belt. Historical drilling conducted in the 1980s and 1990s identified high-grade gold, copper, silver, and tungsten intersections. NeoTerrex is currently in the earn-in phase to acquire 100% ownership of the property.

The Strange Lake West Project is located adjacent to Torngat Metals' Strange Lake REE deposit. Historical grab samples returned total rare earth oxide (TREO) values up to 1.40%, including dysprosium. The project has never been drilled and is advancing through surface sampling and geophysics.

The Gravitas Project is a 100%-owned property targeting tungsten in the Petosa zone, as well as copper, gold, and silver. Recent surface work has identified new mineralized veins and expanded anomalies, with drilling preparation underway.