High Tide Resources updates Labrador West Iron project drilling

TORONTO, ON / ACCESS Newswire / July 16, 2026 / High Tide Resources Corp. (" High Tide " or the " Company ") is pleased to provide an update on its 2026 drilling program at the Labrador West Iron Project. Drilling continues to progress safely and efficiently with strong daily production rates and steady core flow to the assay lab.

Drill Core from hole 26LB-0072: Banded Iron Formation - 169.38 - 180.87m - Magnetite-Hematite Oxide (MHOX) style of mineralization shown.

Steve Roebuck, President & CEO of High Tide, commented: "Our geology team and drill crews are doing excellent work, and the program is advancing efficiently. Core quality has been consistently good, and with assays pending, we're encouraged by the potential to expand the mineralized footprint and support future resource growth. Ongoing metallurgical testwork at SGA's laboratory in Germany is progressing well as we prepare to begin pilot plant‑scale testwork. The pilot plant will use gravity concentration and flotation to produce concentrate from 2.5 tonnes of coarse reject drill core material collected in the 2022 drill program."

To date, the Company has completed 12 drill holes, with two additional holes currently in progress. A total of 3,500 metres of HQ core has been drilled, with an average hole length of approximately 280 metres. With two rigs operating, daily production has averaged 80 metres per day, keeping the program on schedule. Please see Map 1 for drill hole and pad locations.

Core from nine holes has been logged, sampled, and submitted for analysis, while the remaining holes are being logged and split. High Tide expects the first assay results toward the end of the month, in line with the laboratory's four- to six-week turnaround time.

In parallel with drilling, the Company has completed its airborne drone magnetic geophysical survey over the central and eastern portion of the project area. Final processed results are expected shortly and will be integrated with drilling data to refine geological interpretation and guide future targeting.

Next Steps

Continue drilling remaining planned metres

Ongoing core logging, sampling, and assay submissions

Integrate geophysics and drilling data into updated geological model

Apply results toward resource expansion and future economic studies

Continue metallurgical testwork at SGA's laboratory in Germany

About the Labrador West Iron Project

The Labrador West Iron Project is located near the mining communities of Labrador City and Wabush in western Labrador. The project benefits from established infrastructure, including road access, nearby power, and proximity to rail. High Tide is advancing the project through systematic exploration, metallurgical testing, environmental baseline data collection, and early‑stage economic evaluation.

About High Tide

High Tide is focused on and committed to the development of mineral projects critical to infrastructure development using industry best practices combined with a strong social license from local communities. High Tide owns a 100% interest in the Labrador West Iron Project which hosts a NI 43-101 Inferred iron resource of 655 Mt @ 28.84% Fe and is located adjacent to IOCC's Carol Lake Mine in Labrador City, NL. This resource is exposed at surface and was pit constrained for an open-pit mining scenario. The Technical Report was filed on SEDAR on April 6, 2023 and was authored by Ryan Kressall M.Sc., P.Geo, Matthew Herrington, M.Sc., P.Geo, Catharine Pelletier, P.Eng. and Jeffrey Cassoff P.Eng.

The Company also owns a 100% interest in the Lac Pegma copper-nickel-cobalt deposit located 50 kilometres southeast of Fermont, Quebec.

Further details on the Company, including a NI 43-101 technical report on the Labrador West Iron property can be found on the Company's website at www.hightideresources.com .

Qualified Person

The technical information contained in this news release has been approved by Steve Roebuck,

P.Geo., Director, President and CEO of High Tide, who is a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."

For further information, please contact:

Steve Roebuck P.Geo Director, President & CEO Email: sroebuck@hightideresources.com

Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward looking information

This news release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, developing the Labrador West Iron Project into the next stage of development, the Company's objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: commodity prices supply chain disruptions, restrictions on labour and workplace attendance and local and international travel, failure to receive requisite approvals in respect of the foregoing, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Map 1. Labrador West Project - Plan Map Showing Resource Outline and 2026 Drill Pad Locations

SOURCE: High Tide Resources Corp.

View the original press release on ACCESS Newswire