NeoTerrex Provides Exploration Update

Ottawa, Ontario--(Newsfile Corp. - September 10, 2026) - NeoTerrex Minerals Inc. (TSXV: NTX) (the "Company" or "NeoTerrex") is pleased to provide an update on its ongoing, fully funded 2026 exploration program across multiple projects in Québec.

Strange Lake West

Exploration work has commenced at the Strange Lake West rare earth elements project in Nunavik, Québec, strategically located adjacent to Torngat Metals Ltd.'s Strange Lake heavy rare earth element ("REE") deposit.

The maiden exploration program is focused on locating historical rare earth mineral occurrences, geological mapping, prospecting and evaluating prospective rare earth-bearing pegmatites and syenitic intrusions.

The helicopter-assisted program is designed to provide broad coverage across the project area, with particular attention to areas where historical outcrop and boulder samples returned total rare earth oxide values ranging from 0.10% to 1.40%, including values associated with dysprosium, a high-value heavy rare earth element. These historical results are recorded in the Québec government's SIGÉOM database.

Reservoir Project

NeoTerrex has completed its technical review and due diligence of the Reservoir project. Drafting of the definitive agreement is underway, and applications for the required exploration permits have been initiated.

The Reservoir project hosts several prospective mineralized zones, including the principal C52 Zone, which has been traced for approximately 1.6 kilometres and returned historical drill intersections including 8 metres grading 1.12 g/t gold ("Au") and 0.93% copper ("Cu"), with tungsten ("W") values of up to 0.1% (Source: GM68252).

Other zones have returned high-grade copper, gold and silver values, including 13.17 g/t Au and 8.15% Cu at Mitlin, 2.77% Cu over 3 metres at Cyr, and 13.05 g/t Au and 1.94% Cu at Barrage (Source: GM55724).

Exploration work is expected to commence as soon as the required permits are received.

Gravitas Project

A follow-up exploration program was completed during the summer to further assess newly identified mineralized zones across the Gravitas project.

At the Petosa Tungsten Zone, scheelite mineralization was observed sporadically over a broad area, much of which is characterized by wet terrain and limited outcrop exposure. Drilling will ultimately be required to evaluate the continuity, geometry and grade potential of the mineralization at depth.

A previously contemplated drill program has therefore been deferred while the Company continues to develop additional drill targets at the regional scale.

The summer program consisted primarily of surface prospecting, during which 51 grab samples were collected. Results include a newly identified gold occurrence returning 4.43 g/t Au from a quartz vein containing chalcopyrite. It should be noted that grab samples are selective by nature and may not be representative of the overall mineralization on the property. Follow-up exploration is being planned for the area.

Monument Project

The Monument project has been expanded to the south to cover an untested electromagnetic anomaly displaying a geophysical signature and geological setting considered prospective for precious and base metal mineralization.

The target exhibits similarities to the geological setting of the Olga Gold project, located approximately 30 kilometres to the west. Mineralization at Olga is associated with tourmalinite and occurs in proximity to volcanogenic massive sulphide ("VMS") mineralization within the Rivière Bell Formation, the same geological formation underlying portions of the Monument project.

Locally, magnetic data also indicates geological folding within the interpreted pressure shadow of the nearby Lac Goéland pluton, providing an additional structural feature of interest.

No outcrop is visible over the principal anomaly. Accordingly, NeoTerrex completed a till sampling program across the target area during the summer, with analytical results currently pending.

NeoTerrex previously completed 1,068 metres of drilling in six holes located approximately 7 kilometres north of the newly identified target area. Although the drilling did not intersect significant precious or base metal mineralization, substantial concentrations of sulphides, principally pyrite and pyrrhotite, were encountered. The presence of abundant sulphides within the volcanic sequence supports continued evaluation of the broader area for VMS-style mineralization.

Incognito Project

Located approximately 30 kilometres north of the town of Waswanipi, Québec, the Incognito project was acquired through map staking in an area considered prospective for both copper and gold mineralization.

The combination of favourable geology, coincident geophysical and geochemical anomalies, and very limited recorded historical exploration makes the area a compelling grassroots exploration target.

The principal area of interest occurs within volcanic rocks and is characterized by a discrete magnetic anomaly coincident with a strong electromagnetic input anomaly. Recent regional till sampling down-ice from the target area also identified anomalous copper values approaching 700 ppm Cu.

A field program consisting of geological mapping and prospecting is underway over the principal target area.

Sentinel Project

Located north of the town of Chapais, Québec, the Sentinel project was acquired through map staking based on historical exploration results indicating elevated tungsten values ranging from approximately 0.3% to 0.5% W in grab samples.

Historical reports also document a potential gold showing returning 5.87 g/t Au (Source: GM49429), for which the Company has identified no significant recorded follow-up exploration.

NeoTerrex's initial field program will focus on relocating, sampling and evaluating these historical occurrences before determining the scope of any subsequent exploration program.

Galactic and Revolver Projects

Both the Galactic and Revolver projects continue to demonstrate strong exploration potential for rare earth element mineralization.

In addition to REE mineralization, the Galactic project has returned anomalous concentrations of niobium, tantalum and zirconium. Historical and Company sampling has returned particularly elevated zirconium values, including grab sample results that rank among the highest reported in Québec.

NeoTerrex remains in discussions with local communities regarding future exploration activities. Operations are expected to resume once an appropriate framework for continued work has been established.

Assay Methodology & QA/QC

Exploration work is conducted using industry-standard procedures, including a quality assurance and quality control ("QA/QC") program incorporating the insertion of certified reference materials, blanks and duplicate samples into the sample stream.

Samples are submitted to ALS Laboratories in Val-d'Or, Québec ("ALS"), for preparation and analysis. ALS also maintains an internal QA/QC program incorporating standards, blanks and duplicate samples as part of its analytical procedures.

Qualified Person and Disclosure

The technical and scientific information contained in this news release has been reviewed and approved by Mathieu Stephens, P.Geo., President and Chief Executive Officer of NeoTerrex Minerals Inc., a "qualified person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

The historical exploration information disclosed above is sourced from historical assessment and exploration reports for the Reservoir and Sentinel projects, more specifically reports GM55724 (Brown, 1997), GM68252 (Frappier-Rivard, 2013) and (Champagne, 1990). The information is historical in nature. The Company's qualified person has not independently verified the historical information, including the underlying sampling and analytical data, and the Company is not treating the historical information as verified. The Company nevertheless considers the historical information relevant as an indication of the exploration potential of the Reservoir and Sentinel projects, but additional work will be required to verify the historical data. Reported drilling widths are drill-core lengths and reported trench and channel widths are the length of the cut sample(s) at surface. Unless otherwise stated, true widths are not known.

About NeoTerrex Minerals Inc.

NeoTerrex Minerals Inc. is a Canadian exploration company focused on advancing critical mineral and precious metal projects in Québec. The Company is actively exploring its portfolio of tungsten, copper, gold and rare earth element projects with the objective of creating shareholder value through discovery and development.

For further information, please contact:

NeoTerrex Minerals Inc. Mathieu Stephens, President & Chief Executive Officer info@neoterrex.com 343-308-2648

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

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This news release contains certain forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information is often, but not always, identified by the use of words such as "objective", "potential", "proposed" and "will" or similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information in this news release includes, but is not limited to, statements or information with respect to NeoTerrex's future plans, objectives or goals. The forward-looking information is based on a number of factors, expectations and assumptions which have been used to develop such information, and which may prove to be incorrect. Such material factors, expectations and assumptions include, but are not limited, to its planned 2026 exploration program.

Readers are cautioned that the foregoing list is not exhaustive of all factors, expectations and assumptions which have been used. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that the forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. The forward-looking information contained in this news release is made as of the date specified in this news release and the Company does not undertake any obligation to update or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. Readers are cautioned not to place undue reliance on the forward-looking information because the Company can give no assurances that they will prove to be correct.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/313739

TMX Newsfile

September 10, 2026 - 3:59 AM PDT

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