Volta acquires remaining 20% of Springer rare earth deposit, Ontario

HIGHLIGHTS Volta has entered into a definitive purchase agreement dated July 21, 2026 with RZJ Capital Management, LLC to acquire the remaining 20% interest in the Springer Rare Earth Element and Gallium Deposit near Sturgeon Falls, Ontario. Upon closing, Volta will have the right to acquire 100% of the registered and beneficial interest in the Property, including all mining patents, mining claims, surface rights and easement rights, subject only to existing royalties and permitted encumbrances. Consideration is $1,000,000 in cash, payable in stages tied to future equity financings, together with 10,000,000 common shares of Volta at a deemed price of $0.20 per share.

The Vendor retains a 2% NSR royalty on the mining claims, of which 1% may be purchased by Volta for $1,000,000. Volta may also purchase 1% of the existing 3% NSR royalty on the patented claims for $1,000,000. Springer hosts a current Mineral Resource Estimate of 56.6 Mt Indicated at 0.70% TREO (including a near-surface high-grade core of 11.5 Mt at 1.10% TREO) and 119.5 Mt Inferred at 0.58% TREO (including a near-surface high-grade core of 3.0 Mt at 1.16% TREO), ranking among the top 10 largest REE deposits in North America based on the S&P Global Market Intelligence database (2025).

Mineralization remains open for expansion. Consolidating 100% ownership ensures that all future exploration success, resource expansion, and project value-including the significant rare earth and gallium upside at Springer-will accrue to Volta shareholders. Toronto, Ontario--(Newsfile Corp. - July 22, 2026) - Volta Metals Ltd. (CSE: VLTA) (FSE: D0W) (OTCQB: VOLMF) ("Volta" or the "Company") announces that it has entered into a definitive purchase agreement dated July 21, 2026 (the "Purchase Agreement") with RZJ Capital Management, LLC (the "Vendor") to acquire the remaining 20% interest (the "Remaining Interest") in the Springer Rare Earth Element and Gallium deposit (the "Springer Deposit" or the "Property"), near Sturgeon Falls, Ontario.

Upon completion of the transaction and the transfers contemplated by the Purchase Agreement, Volta will have the right to acquire 100% of the registered and beneficial interest in and to the Property, subject only to the royalties and permitted encumbrances described below. The acquisition establishes a 100% ownership path, up from the 80% in the initial agreement entered into in June 2025. Prior to executing the Purchase Agreement, the Company and the Vendor jointly acquired an outstanding 5% interest in the patented claims previously held by a third party, enabling Volta to now consolidate 100% ownership in the Property.

"Consolidating 100% ownership of Springer marks a major milestone for Volta and significantly strengthens our long-term growth strategy," said Kerem Usenmez, President and CEO of Volta. "Every metre we drill, and every tonne we add to the resource now accrues fully to our shareholders. We have also structured this transaction to preserve capital for advancing the Project, with cash payments staged alongside future financings and the majority of the consideration paid in shares, aligning the Vendor's interests with those of our shareholders.