Corcel finds historical tungsten, graphite at Yuma King

Mr. Jon Ward reports CORCEL EXPLORATION ANNOUNCES HISTORICAL CRITICAL MINERAL POTENTIAL AT YUMA KING PROJECT Corcel Exploration Inc. has identified significant historical occurrences of two United States-designated critical minerals, tungsten and graphite, at its 100-per-cent-owned Yuma King project in Arizona, United States. This information has been compiled from historical mining data, drilling logs, geochemical sampling and historical technical assessments conducted by prior operators, and has not been verified by the company. Key highlights: High-grade tungsten occurrences across a five-square-kilometre district with historic production and assays returning up to 19.15 per cent WO3, located within past-producing mines at the Three Musketeers district (see National Instrument 43-101 report dated Dec. 1, 2024, available on Corcel's website). Broad tungsten-in-soil anomalies identified from Corcel's 2024 surface geochemical sampling extend beyond the Three Musketeers area, highlighting the broader district potential. Graphite mineralization, including flake graphite and graphene-bearing carbonaceous mudstone, was intersected in drilling between 2011 and 2016, with a reported interval up to 150 metres thick and a 25-metre zone containing high carbon content with mineralogy confirmed by Raman spectroscopy (see NI 43-101 report dated Dec. 1, 2024, available on Corcel's website). Tungsten and graphite are listed as critical minerals by the U.S. government due to strategic applications in manufacturing, energy technologies and defence systems, and the United States currently relies on foreign sources for both. No modern exploration has been conducted to evaluate resource size or grade continuity, which have not been evaluated with modern exploration methods and may warrant follow-up assessment. "The available historical records indicate that the Yuma King project contains multiple areas where tungsten and graphite mineralization were documented and, in some cases, mined on a small scale," commented Jon Ward, chief executive officer of Corcel Exploration. "Our objective is to review this historical data to determine whether these targets merit systematic follow-up alongside our copper-gold exploration plans." Historical tungsten occurrences Tungsten was historically mined from several prospects within the Yuma King project area, primarily at the Three Musketeers, Jewel Anne, Pee Wee, Ace and Trioni claims. Historical reports document two tabular mineralized bodies at the Three Musketeers mine although their full extent was not delineated due to limited underground development. Production was intermittent from the early 1950s through the 1970s. Tungsten occurs predominantly as scheelite within quartz veins, greisen-altered zones and thrust faults, and is largely related to late Cretaceous to early Tertiary intrusive events (see NI 43-101 report dated Dec. 1, 2024, available on Corcel's website). Sampling and surface mapping indicate that tungsten-bearing structures are present over an area of approximately five square kilometres, with localized high-grade pods and lenses. Soil sampling completed by Corcel highlights the presence of tungsten anomalies associated with the area hosting the historical mines. In addition, soil sampling indicates that Yuma King mine area contains tungsten anomalies. This commodity has not been a focus of exploration in this area, so the geological context of these anomalies is not yet known. Graphite and graphene mineralization Graphite and graphene mineralization at the Yellowbird deposit on the Yuma King project was first identified in 2011 by a drill campaign by Vane while exploring a porphyry copper target. The graphite is contained in a relatively flat-lying, dark grey, carbonaceous, phyllitic metamudstone body about 150 metres thick, intercepted in drill hole AV-2. A 25-metre interval within the middle of the 150-metre section consists of approximately 89 per cent carbonaceous mudstone. Follow-up geochemical sampling and Raman spectrometry in 2015 confirmed graphite with significant graphene (see NI 43-101 report dated Dec. 1, 2024, available on Corcel's website). In 2016, Cash Capital completed a four-hole, 1,220-metre drill program accompanied by geologic core logging, continued lab geochemical assays, mineralogic studies and reconnaissance field sampling, which demonstrated that the mineralized horizon extends southward and identified additional graphite-bearing zones within the Yellowbird black shale formation. Corcel is working to obtain technical data from this program -- at present, the precise drill hole locations and other data are not available (see NI 43-101 report dated Dec. 1, 2024, available on Corcel's website). The graphite mineralization is interpreted to be related to thrust-related deformation and metamorphism during the early Laramide orogeny. U.S. critical minerals The United States is currently entirely reliant on imports for both tungsten and graphite, which are classified as critical minerals by the U.S. Department of the Interior (U.S. Geological Survey 2024 critical minerals list) and recognized as essential to national defence by the U.S. Department of War (U.S. Army, Defence Logistics Agency Strategic Materials). Tungsten is used in electronics, aerospace components and defence systems, while graphite is the primary material in lithium-ion-battery anodes and plays a central role in electrification and energy storage technologies. Evaluation of critical minerals at Yuma King The company will incorporate the historical tungsten and graphite data sets into the broader geological model for the Yuma King project. This work is being undertaken in parallel with the copper-gold exploration strategy to assess whether these critical mineral systems warrant follow-up evaluation as potential complementary targets. Qualified person as defined under National Instrument 43-101 Roy Greig, PhD, PGeo, a qualified person as defined in National Instrument 43-101 (Standards of Disclosure for Mineral Projects), adviser to Corcel Exploration, has reviewed and approved the technical content in this news release. The QP has not been able to verify the historical exploration data disclosed herein since the original materials and documentation are currently inaccessible. Nonetheless, these data are believed to be accurate and sufficient for purposes of guiding future exploration on the Yuma King project. About Corcel Exploration Inc. Corcel Exploration is a mineral resource company engaged in the acquisition and exploration of precious and base metal properties throughout North America. The company has entered a long-term lease agreement to acquire the Yuma King copper-gold project in Arizona, which spans a district-scale land position of 3,200 hectares comprising 515 unpatented federal mining claims in the Ellsworth mining district, including the past-producing Yuma King mine, which saw underground production of copper, lead, gold and silver between 1940 and 1963. The company also holds a 100-per-cent interest in the Willow copper project. We seek Safe Harbor.