Anteros plans phase 1 extension drilling at Seagull

Mr. Chris Morrison reports ANTEROS METALS ANNOUNCES PLANS FOR A PHASE 1 EXTENSION DRILLING PROGRAM AT THE SEAGULL CRITICAL MINERALS PROJECT, ONTARIO Anteros Metals Inc. is planning a phase 1 extension drilling program at the Seagull critical minerals project, located approximately 80 kilometres northeast of Thunder Bay, Ont., and operated by Rift Minerals Inc., under the option agreement announced on Oct, 9, 2025, pursuant to which Anteros may earn up to a 49-per-cent interest in the project. Subsequent to completion of phase 1 drilling activities, Anteros and Rift have entered into an addendum to the agreement that provides Anteros with the right, but not the obligation, to conduct a revised phase 1 extension drilling program at the project. The addendum provides for Rift to continue as operator and allows expenditures incurred under the revised phase 1 program to be credited against potential phase 2 exploration expenditures, should Anteros elect to proceed following receipt of an updated National Instrument 43-101-compliant technical report. Any phase 1 extension drilling will remain subject to final program design, approved budgets and field conditions. The Phase 1 extension follows the completion of drill hole RM26-01, which intersected discontinuous orthomagmatic sulphide mineralization within the basal cumulate sequence between approximately 589 and 608 metres, as well as a gas-bearing interval at approximately 877 metres within a narrow fault zone in Archean basement rocks of the Quetico subprovince. The gas occurrence is situated at a similar stratigraphic position to gas reported in historical hole WM-01-08, located approximately 100 metres away. The significance, continuity and composition of the gas remain under evaluation. Sulphide mineralization observed in the basal cumulate sequence is disseminated to locally weakly net textured. Laboratory assay results from the sulphide-bearing intervals are pending. Integrated interpretation of drilling and geophysical data sets, including ambient noise tomography (ANT) velocity modelling, has been used by Rift to refine the interpreted geometry of the Seagull intrusion and underlying basement, and is informing evaluation of phase 1 extension drilling options. These interpretations are preliminary in nature and subject to revision as additional data become available. The phase 1 extension is designed to build on drilling observations and integrated geological and geophysical interpretation with the following technical objectives: Continue evaluating orthomagmatic sulphide mineralization associated with Ni-Cu-PGE (nickel, copper and platinum group element) systems at the basal contact of the Seagull intrusion; Test the approximately 877-metre elevation to evaluate the presence and geological context of gas within a subhorizontal structural feature; Collect samples for laboratory analysis to support evaluation of sulphide mineralization and gas occurrence, where encountered. The company is currently evaluating drilling options to pursue these technical objectives while leveraging existing historical drill infrastructure. Given the depth of the target horizons, previously completed drill holes are being assessed as the platforms for any extension drilling to efficiently test mineralization and gas-bearing structures at depth while managing time, cost and surface disturbance. Phase 1 extension drilling will be subject to final program design, field conditions and financing. "The phase 1 extension represents a logical next step to build on observations from drill hole RM26-01, including the occurrence of gas and basal sulphide mineralization," said Trumbull Fisher, chief executive officer of Anteros. "By leveraging existing drill holes, we are able to further evaluate these features and advance our technical understanding of the Seagull critical minerals system." The company will provide further updates as program parameters are finalized and additional information becomes available. All observations to date are visual or preliminary in nature, based on limited drilling and geophysical information, and are subject to revision. Laboratory assay results are pending. About the Seagull project The project is located approximately 80 kilometres northeast of Thunder Bay, Ont., and covers the interpreted mafic-ultramafic Seagull intrusion within the Nipigon basin. Historical exploration between 1998 and 2012 included airborne geophysical surveys and approximately 20,000 metres of diamond drilling, which reportedly intersected disseminated to semi-massive sulphide mineralization containing nickel, copper and platinum group elements along parts of the intrusion's basal contact and reported the presence of naturally occurring gases. These historical results have not been independently verified by Anteros. In 2024, Rift completed an ANT survey to refine the internal geometry of the Seagull intrusion and to identify subsurface velocity contrasts interpreted to reflect lithological and alteration variations. These interpretations remain unverified by Anteros. Qualified person The scientific and technical information in this news release relating to the Seagull project has been prepared by Rift Minerals, and has been reviewed and approved by Dr. Geoff Heggie, PGeo (Ontario), a qualified person under National Instrument 43-101, who is independent of Anteros Metals. This information has not been independently verified by Anteros Metals and is provided for geological context only. About Anteros Metals Inc. Anteros Metals is a Canadian mineral exploration company focused on advancing a pipeline of projects across Newfoundland and Labrador and select Canadian jurisdictions. The company applies a technically driven, data-supported exploration approach targeting critical minerals and emerging strategic commodities relevant to the global energy transition. About Rift Minerals Inc. Rift Minerals is a private corporation based in Thunder Bay, Ont., founded in 2024 by Steven Stares, Michael Stares, Cliff Hickman and Abraham Drost, MSc, PGeo (Ontario). Rift has completed early-stage exploration work on the Seagull project, including an ANT survey completed by Sisprobe, France. We seek Safe Harbor.