Elysian completes geophysical survey at Namew Lake

• Elysian Capital Corp. (ELYX) completed a helicopter-borne VTEM airborne geophysical survey over its Namew Lake nickel sulphide project in Northern Saskatchewan on June 3, 2026.
• The survey covered approximately 28 square kilometres and 299 line kilometres, utilizing advanced electromagnetic and magnetic systems supplemented by resistivity-depth imaging.
• Management identified multiple electromagnetic and magnetic anomalies, specifically noting mid-to-late time conductive responses that are considered prospective for sulphide mineralization.
• Qualified Person Darren Slugoski, PGeo, reviewed the technical data under NI 43-101 guidelines.
• The company plans to use the data for advanced EM modeling and magnetic interpretation to prioritize targets for upcoming ground exploration and drilling.
• Historically, the company was listed on the Canadian Securities Exchange (CSE) in April 2026, as noted in the May 14, 2026 CSE market update.
• The progression follows a standard early-stage exploration lifecycle: listing -> airborne geophysics -> target refinement -> planned drilling.

• The June 3, 2026 announcement represents a routine exploration update that aligns with typical early-stage mining company development. It does not contain genuinely new, unexpected, or market-moving financial information.
• While the identification of conductive anomalies is technically positive for long-term exploration potential, it lacks immediate material impact on valuation or stock price. No resource estimate, drilling results, or financing terms are attached to this update.
• The stock price collapsed from $0.25 to $0.06 in mid-May 2026 and has since consolidated. The market appears to have already priced in the listing and initial exploration phase. Without confirmed mineralization or capital deployment, this news is unlikely to reverse the downward price action.
• From a risk-averse standpoint, geophysical anomalies are merely indicators, not proof of economic mineralization. The absence of drilling data means the company remains in a high-risk, cash-burn phase with no near-term catalysts to justify a valuation premium.

• Elysian Capital Corp. is a mineral exploration company focused on the Namew Lake nickel sulphide project located in Northern Saskatchewan.
• The project is in the early exploration phase. The company recently completed an airborne geophysical survey to identify prospective sulphide targets.
• No drilling, resource estimates, or economic evaluations have been announced. The company relies on external consultants for technical validation under NI 43-101.
• Development status is pre-drill, meaning all exploration activities are preliminary and subject to high geological and execution risk.