U.S. Critical closes McDermitt interest acquisition

Mr. Darren Collins reports USCM CLOSES TRANSACTION TO CONSOLIDATE 100% OF THE MCDERMITT EAST LITHIUM PROJECT Further to its press release on Oct. 7, 2025, U.S. Critical Metals Corp. has, together with its wholly owned subsidiary, U.S. Energy Metals Inc. (USEM), completed the acquisition of the initial 50-per-cent interest in the McDermitt East lithium project, located within the McDermitt caldera in Nevada, United States, and has secured the exclusive option to acquire the remaining 50-per-cent interest to own 100 per cent of the project. The McDermitt caldera hosts one of the largest emerging lithium districts in the United States and one of the largest lithium measured reserves and resources in the world, led by the Thacker Pass project, which is currently under construction by Lithium Americas Corp. The company believes this regional ecosystem underscores the strategic importance and long-term development potential of McDermitt East. Transaction summary: Closed acquisition of 50-per-cent interest: U.S. Critical Metals/USEM has completed the acquisition of an initial 50-per-cent interest in the project pursuant to an amended option agreement between the company, USEM, Live Energy Minerals Corp. and Lithium Valley Holdings Corp. Option to acquire remaining 50 per cent: U.S. Critical Metals/USEM holds the right to acquire the remaining 50-per-cent interest in the project by making a cash payment of $25,000 within six months of the execution of the amendment and a final payment of $500,000 (payable in cash, shares or a combination thereof at the company's election) on or before 24 months from the date of the execution of the amendment. Upon exercise of the option, U.S. Critical Metals/USEM will own 100 per cent of the project, subject to a 2.0-per-cent NSR (net smelter return) royalty, of which 1.0 per cent may be repurchased for $1-million Exploration planning With ownership now consolidated to 50 per cent and the remaining 50 per cent option fully secured, U.S. Critical Metals will advance the project by further defining the highest-priority targets for drilling. The work program will include: Further compilation and interpretation of all historical data sets; Additional surface sampling and targeted mapping; Target prioritization for drill-ready zones; Initiate a maiden drill program to test the most prospective lithium-bearing horizons. U.S. Critical Metals previously reported sampling results of up to 2,129 parts per million lithium at McDermitt East, underscoring the project's potential as part of a strategically vital U.S. lithium district. Management commentary Darren Collins, chief executive officer of U.S. Critical Metals, commented: "McDermitt East provides USCM with a major foothold in one of the strategically significant lithium basins in North America. With Thacker Pass under construction nearby, the region is rapidly emerging as the centrepiece of U.S. domestic lithium supply. Consolidating the pathway to 100-per-cent interest in the project, USCM is now in an ideal position to advance exploration toward a maiden drill program. We look forward to providing further updates regarding the project." Project information The project is located within the McDermitt caldera, an extinct 40-by-30-kilometre supervolcano formed approximately 16.3 million years ago as part of a hot spot currently underneath the Yellowstone plateau. Following an initial eruption and concurrent collapse of the McDermitt caldera, a large lake formed in the caldera basin. This lake water was extremely enriched in lithium and resulted in the accumulation of lithium-rich clays. Late volcanic activity uplifted the caldera, draining the lake and bringing the lithium-rich moat sediments to the surface, resulting in the near-surface lithium present on the project. The McDermitt caldera is potentially one of the largest sources of lithium clays in the world and hosts some of the largest lithium deposits in the United States, including the Thacker Pass project in the southern portion of the caldera. Live completed a technical report in accordance with National Instrument 43-101 on the project entitled "43-101 Technical Report on the McDermitt Lithium East Property," prepared by John Michael William Collins, PGeo, with an effective date of Dec. 16, 2022, which indicates high potential for the project to host large amounts of lithium-bearing sediments. The technical report can be found under Live's SEDAR+ profile. Qualified person The scientific and technical information contained in this news release has been reviewed and approved by Robert J. Johansing, BSc (geology), MSc (economic geology), who is a qualified person as defined in NI 43-101. Mr. Johansing is a consultant of the company. About U.S. Critical Metals Corp. U.S. Critical Metals is focused on mining projects that will further secure the U.S. supply of critical metals and rare earth elements, which are essential to fuelling the New Age economy. U.S. Critical Metals' assets consist of five discovery-focused projects in the United States. These projects include the McDermitt East project, located in Nevada, the Clayton Ridge lithium property, located in Nevada, the Long Canyon uranium property, located in Idaho, the Haynes cobalt property, located in Idaho, and the Sheep Creek REE (rare earth element) property, located in Montana. A significant percentage of the world's critical metal and rare earth supply comes from nations with interests that are contrary to those of the United States. U.S. Critical Metals intends to explore and develop critical metals and rare earth assets with near- and long-term strategic value to the advancement of U.S. interests. We seek Safe Harbor.