Bolt Metals rebrands as 26 Metals, adopts ticker IRON for Florália project

Bolt Metals to Rebrand as 26 Metals Inc. and Adopt the Ticker "IRON," Highlighting Its Focus on Flagship Florália Iron Project in Brazil's Iron Quadrangle

New name and symbol mark the Company's transformation into a focused, near-term iron developer — anchored by a high-grade, low-carbon, infrastructure-rich project in the heart of one of the world's premier iron ore districts.

VANCOUVER, BC / ACCESS Newswire / August 12, 2026 / Bolt Metals Corp. (" Bolt " or the " Company ") (CSE:BOLT)(OTCQB:PCRCF)(FSE:A3D8AK) is pleased to announce that it will change its name to 26 Metals Inc. and begin trading under the new ticker symbol "IRON" on the Canadian Securities Exchange (the " CSE ") at market open on August 19, 2026. The rebrand reflects a strategic pivot: the Company is focusing on advancing its flagship Florália Iron Project toward development in Minas Gerais, Brazil (the " Project ").

Management believes that the name change aligns with its current focus. 26 is the atomic number of iron (Fe) - one of the elements at the core of the global economy and the renewed focus of the Company's flagship asset. Paired with the ticker "IRON," management believes that the new identity aligns with where the Company is focused: building out a quality iron project in the district that has defined Brazilian iron ore for a century.

A CENTURY-PROVEN ADDRESS: THE IRON QUADRANGLE

Florália sits in the Quadrilátero Ferrífero - Brazil's legendary "Iron Quadrangle" in Minas Gerais - the same geological province that hosts some of the largest and longest-running iron ore mines. 1 This geographic area is home to a mature mining district with established roads, rail, power, ports, a deep skilled workforce, and a domestic steel and merchant iron market. 2 Management believes that this infrastructure significantly derisks the Project.

WHY FLORÁLIA STANDS OUT

Benchmark-grade product quality. Beneficiation testwork has demonstrated the potential to upgrade Florália material into a sinter-feed iron product grading above 61% Fe, with silica, alumina and phosphorus levels below the Platts IODEX benchmark specification 3 - a grade and impurity profile that management believes is well suited to both domestic and seaborne demand.

Green, dry processing - no tailings dam. The Company is evaluating a flowsheet that uses dry magnetic separation, eliminating the need for a wet tailings storage facility. Management believes this would result in a significantly lower environmental footprint, reduced permitting complexity, and lower capital and closure risk compared to conventional wet iron ore processing. 4

Simple, low-cost mining. Based on initial observations, near-surface, free-digging material points to the potential for a straightforward, low-strip operation without the cost and complexity of drill-and-blast - which management believes could support a capital-light path to first production.

A domestic-first commercial strategy. Rather than depending solely on the seaborne export market, the Company is targeting Brazil's large domestic iron market, capturing value close to the mine which potentially mitigates a long-haul ocean freight - an advantage created by Florália's location among established regional buyers. 2

Infrastructure on the doorstep. Proximity to existing rail, road networks and operating iron ore markets provides multiple potential routes to market and meaningful optionality as the Project scales.

A CLEAR PATH FORWARD

The Company is advancing an active drill program at Florália designed to support a maiden mineral resource estimate, and follow on feasibility-level technical and economic studies. In parallel, the Company is progressing the environmental licensing and permitting workstreams required to move the Project toward a development decision. The Company intends to keep the market updated as each of these milestones are achieved.

"This rebrand is about conviction," said Zachary Kotowych, CEO and Director. "Following the announcement of the option relating to the Project, we assessed our current projects and what we have at Florália - a high-grade iron project, in one of the premier iron addresses in the world, that can be built cleanly and quickly - and we decided to plant a flag. 26 Metals and the ticker IRON tell our shareholders and the market exactly who we are and what we are building. The work now is simple to state and relentless to execute: drill it, define it, permit it, and take it toward production."

The Company has executed a definitive option agreement dated May 12, 2026 with Max Iron Brazil Ltd., an entity controlled by Max Resource Corp., whereby the Company has the right to acquire a 100% interest in the Florália High Purity Iron Property located in Minas Gerais, Brazil (see news release dated May 13, 2026).

NAME CHANGE DETAILS

The name change was approved by the Company's board of directors (the " Board ") in accordance with the Company's articles. The Company's common shares will continue to trade on the CSE under the new name 26 Metals Inc. and the new ticker symbol IRON as of market open on August 19, 2026. The new CUSIP and ISIN numbers assigned to the Company's common shares are 90140G106 and CA90140G1063, respectively. The Name Change does not affect the number of common shares issued and outstanding, and no action is required by existing shareholders. Shareholders holding certificated shares are not required to exchange their existing certificates, which will remain valid.

APPOINTMENT OF DIRECTOR

The Company is also excited to welcome Rob Saltsman to its Board. Mr. Saltsman has 25 years of experience in venture capital and public investments and is the founder of First Lithium Minerals Corp., a company he founded in 2017. Currently he sits on the Board of Leveljump Healthcare Corp. and he served as the CEO of Compel Capital Inc. and RMM Ventures Inc., and as Vice President of Georgian Capital Corp. where he focused on investing and consulting services in private equity. He is currently a President and Managing Partner of Paige Capital Inc., a venture capital investment company, and is a founding partner of South America Finance Corp SAS, a private merchant banking group in Colombia.

QUALIFIED PERSON

The technical content of this news release has been reviewed and approved by Mr. Babak V. Azar, P.Geo., géo (OGQ#10876) an independent contractor and a qualified person as defined by National Instrument 43-101. Historical reports provided by the optionor were reviewed by the qualified person.

About 26 Metals Inc. (formerly Bolt Metals Corp.)

26 Metals Inc. is a mineral exploration and development company focused on advancing its flagship Florália Iron Project in the Iron Quadrangle of Minas Gerais, Brazil - a high-grade, low-carbon iron opportunity with a clear, near-term path to development. Following the Name Change, the Company will trade on the CSE under the symbol IRON, on the OTCQB under the symbol PCRCF, and in Germany under WKN A3D8AK.

ON BEHALF OF THE BOARD OF DIRECTORS

Zachary Kotowych, Chief Executive Officer & Director

For more information, please email info@boltmetals.com or visit www.boltmetals.com . The Company's website will be updated to reflect its new corporate name in due course.

Neither the 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 press release.

Notes and References

U.S. Geological Survey, Physiographic, Stratigraphic and Structural Development of the Quadrilátero Ferrífero, Minas Gerais, Brazil, Professional Paper 641-A (1969). Available at: https://pubs.usgs.gov/publication/pp641A

Instituto Aço Brasil (Brazil Steel Institute), Steel Park - Minas Gerais hosts nine of Brazil's thirty-one steel mills, the largest concentration of any Brazilian state. Available at: https://www.acobrasil.org.br/site/en/steel-park/ . Sindicato da Indústria do Ferro no Estado de Minas Gerais (SINDIFER) - the State's merchant pig iron sector comprises 43 operating plants representing approximately 75% of Brazilian pig iron production. Available at: https://sindifer.com.br/sndfr/en/o-produto-ferro-gusa/

S&P Global Commodity Insights (Platts), Specifications Guide: Global Iron Ore. Effective January 2, 2026, the Platts IODEX benchmark specification is 61% Fe, 4.5% silica, 2.5% alumina and 0.10% phosphorus. Available at: https://www.spglobal.com/content/dam/spglobal/ci/en/documents/platts/en/our-methodology/methodology-specifications/metals/iron-ore-specifications.pdf

Federal Law No. 14,066 of September 30, 2020 (Brazil), amending the National Dam Safety Policy (Law No. 12,334/2010) to strengthen requirements for the safety, monitoring, decommissioning and closure planning of mine tailings dams. Upstream-method tailings dams are additionally subject to mandatory decommissioning requirements in the State of Minas Gerais.

Forward-Looking Information

Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate," "estimate," "target," "potential" and other similar words, or statements that certain events or conditions "may" or "will" occur, including statements regarding the Name Change and the new ticker symbol; the anticipated benefits, quality, product grade, processing method, cost profile and commercial strategy of the Florália Iron Project; the Company's drilling, resource-estimation, feasibility, permitting and development plans and timelines; and the Company's strategic focus and objectives. Forward-looking statements are based on the opinions and estimates of management as at the date such statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated, including but not limited to risks relating to exploration and development, metallurgical recoveries, commodity prices, permitting and regulatory approvals, financing, the realization of anticipated project economics, and risks associated with operating in a foreign jurisdiction, including political, regulatory, currency, and legal risks applicable to Brazil. Mineral exploration is inherently uncertain, and there is no assurance that testwork results, targeted product specifications, or development objectives described herein will be achieved. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the business plans described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which are available at www.sedarplus.ca .

SOURCE: Bolt Metals Corp.

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ACCESS Newswire

August 12, 2026 - 2:30 PM PDT

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