Oreterra receives conditional OK for royalty option

Mr. Kevin Keough reports ORETERRA RECEIVES CONDITIONAL APPROVAL TO SELL OPTION TO BUY DOWN NEWMONT LAKE ROYALTY TO ENDURO METALS The TSX Venture Exchange has conditionally accepted for filing documentation pertaining to an arm's-length amending agreement dated April 27, 2026, between the company and an arm's-length party: Enduro Metals Corp. (the optionee), a TSX-V-listed issuer. Pursuant to the agreement, the optionee will have an option to acquire up to 50 per cent of the net smelter return (NSR) royalty interest held by the company in the optionee's Newmont Lake project, located adjacent to Oreterra's Trek-Andrei property in British Columbia's Golden Triangle. Closing of the transaction remains subject to final TSX-V approval. About the agreement In order to exercise the option on the NSR royalty, the optionee must issue 3.9 million common shares to the company and make aggregate payments of $550,000 to the company over a period of two years, of which $175,000 is due within three months of closing and payments of $250,000 may be payable in cash or common shares of the optionee during the term (at the optionee's discretion). Further, potential future consideration involves: (i) a $500,000 cash payment upon delivery of a maiden National Instrument 43-101-compliant resource estimate (of which up to $300,000 may be satisfied through the issuance of common shares of the optionee); (ii) a $1.75-million cash payment and a $1.75-million advance royalty payment upon completion of the first feasibility study in respect of the property; (iii) a $10-million cash advance royalty payment upon a decision to proceed toward mine permitting; and (iv) a one-time payment of $8-million prior to commencement of extraction to buy back 50 per cent of the existing 2-per-cent NSR royalty. Upon exercise of the option, the company will retain a 1.0-per-cent NSR royalty on the property. About Oreterra Metals Corp. Oreterra Metals is a TSX-V-listed mineral exploration company focused primarily on copper, gold and silver. The company holds several wholly owned porphyry copper-gold prospects in British Columbia's Golden Triangle, the most significant of which is the newly identified Trek South prospect located to the southeast of Teck-Newmont's Galore Creek project, currently undergoing prefeasibility studies. Following a highly successful $9.7-million financing closed in March, a maiden two-phase, approximately 10,000-metre drill program at Trek South is now fully financed, for completion this summer. Drilling will test a 1.6-kilometre-wide zone of intense porphyry-style alteration, mineralization and underlying coincident strong IP (induced polarization), MT (magnetotelluric) and magnetic anomalies exposed by recent glacial retreat. In addition, the first significant exploration work since 2007 is now planned for Oreterra's JW porphyry prospect, located to the northwest of the Galore Creek deposits. Additional wholly owned interests include two former producers in Nevada: the Kinkaid claims in the Walker Lane trend, covering numerous shallow gold-copper-silver workings over what is believed to be one or more porphyry centres, and the Scossa mine property in the Sleeper trend, which is a former high-grade gold producer. The company also holds a 100-per-cent interest in the large-scale Lundmark-Akow Lake gold-copper property adjacent to the northwest of the Musselwhite mine, where past drilling by the company returned highly encouraging, broad VMS-style (volcanogenic massive sulphide) gold-copper intersections. Oreterra also retains a continuing interest in several properties, including a 2-per-cent NSR royalty on McEwen Mining's Hislop gold property in Ontario and a 2-per-cent NSR royalty on Enduro Metals' Newmont Lake gold-copper-silver property in British Columbia. Technical presentations on each of the Kinkaid, Scossa and Lundmark-Akow Lake properties, written by J. Biczok, PGeo, are available on the company's website. We seek Safe Harbor.