EraNova files positive PEA for Adanac Molybdenum: $714.4M NPV, 23.5% IRR

Study confirms Adanac as a large-scale, long-life primary molybdenum development project with strong economics; project to advance directly toward Feasibility

Vancouver, British Columbia--(Newsfile Corp. - August 6, 2026) - EraNova Metals Inc. (TSXV: NOVA) (OTCQB: STXPF) ("EraNova" or the "Company") announces results from an independent Preliminary Economic Assessment ("PEA") for its 100% owned Adanac Molybdenum Project ("Adanac" or the "Project"), located 35 km northeast of Atlin, British Columbia.

The PEA confirms Adanac as a large-scale, long-life primary molybdenum development project with strong economics and an advanced development foundation. Supported by decades of historical engineering, a previously issued Environmental Assessment Certificate ("EAC"), established road access and more than C$100 million in historical infrastructure investment, the Company's focus will now be on initiating a Feasibility Study while obtaining an updated environmental assessment and the permits required to support future project development.

PEA Highlights

Long-Life Primary Molybdenum Project: 30,000 tonnes-per-day ("tpd") open-pit mining and processing operation with a 24-year mine life, averaging 11.4 million pounds of molybdenum produced annually and 270.1 million pounds of payable molybdenum over the life of mine. The Project's scale and longevity provide exposure to multiple molybdenum price cycles.

Strong Project Economics: Robust economics under both the base case and current spot molybdenum price assumptions, generating approximately C$2.0 billion in cumulative after-tax free cash flow under the base case, increasing to approximately C$3.6 billion at current spot molybdenum prices. Key unlevered economic results are summarized below.

Table 1 - Adanac Molybdenum Project PEA Pre-Tax and After-Tax Economic Results Summary

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