Go Metals Provides Update on KM98, Announces Option Agreement on Monster Project and Share Consolidation

Executive Summary

• Go Metals released Phase 1 metallurgical test results for its KM98 Project, showing high‑grade magnetite (up to 68.5% Fe, 0.24% V) and titanium‑rich ilmenite concentrates (~33% Ti) produced via conventional magnetic and gravity separation.
• The company entered an option agreement with Flow Metals granting Flow the right to acquire 100% of the Monster Yukon IOCG Project in exchange for a mix of Flow shares and cash payments, plus a 2 % NSR royalty retained by Go Metals.
• A share consolidation (1 post‑share for every 2 pre‑shares) was approved and will become effective on February 13, 2026, reducing the outstanding share count roughly by half.

Key Details

• KM98 Phase 1 Metallurgy
• Magnetite concentrate grades:
  • Massive oxide sample – 68.5 % Fe, 0.24 % V, 3.0 % Ti
  • Semi‑massive oxide sample – 66.3 % Fe, 0.22 % V, 2.0 % Ti
• Ilmenite concentrate grades:
  • Massive oxide – 37.7 % Fe, 33.6 % Ti
  • Semi‑massive oxide – 38.9 % Fe, 32.9 % Ti

• Separation flow sheet employed Davis Tube magnetic separation followed by heavy‑liquid and Frantz magnetic separations; coarse liberation (100–250 µm) proved effective.

• Planned Phase 2 Testing

• Optimized separation parameters, full head‑and‑concentrate assays, detailed mineralogical work, Bond Work Index measurements, and a comprehensive metallurgical report upon completion.

• Option Agreement – Monster Project

• Flow Metals may acquire 100 % of the Monster Yukon IOCG Project by delivering:
  • 3 M Flow common shares within 10 business days of approvals;
  • Additional 3 M Flow shares on the one‑year anniversary of execution;
  • $2 M cash upon a positive feasibility study;
  • $2 M cash on day 120 of commercial production.
• Go Metals retains a 2 % net smelter return (NSR) royalty on the project.

• Transaction is a related‑party deal under MI 61‑101 but exempt from formal valuation/minority approval because fair market value ≤ 25 % of Flow’s market cap; fairness opinion to be provided by Evans & Evans.

• Share Consolidation

• Ratio: 1 post‑consolidation share for every 2 pre‑consolidation shares.
• Pre‑consolidation shares outstanding: 26,660,615 → Post‑consolidation approx. 13,330,307.
• No fractional shares; any fractions rounded down.

• New CUSIP: 38018L301; trading on the CSE to commence at market open on February 13, 2026, subject to exchange acceptance.

• Qualified Person – Hugues Longuépée, P.Geo., reviewed and approved all scientific/technical information.

Notable Quotes

“These early metallurgical results represent a key milestone in understanding the processing characteristics of KM98 mineralization… The ability to produce separate magnetite and ilmenite concentrates using conventional techniques reinforces KM98's potential to generate multiple high‑value industrial mineral streams.” – Scott Sheldon, CEO

All forward‑looking statements are subject to risks and uncertainties detailed in the release.