Mont Royal holds first public meeting in Kuujjuaq for Ashram Project

Nearly 160 participants joined in person and online, reinforcing Mont Royal's commitment to ongoing dialogue and regular community engagement in Kuujjuaq as the Ashram Project advances

Montreal, Quebec--(Newsfile Corp. - September 22, 2026) - Mont Royal Resources Ltd (ASX: MRZ) (TSXV: MRZL) ("Mont Royal" or "the Company") is pleased to advise that it hosted its first public information meeting in Kuujjuaq last week, marking an important step in the Company's ongoing commitment to information sharing and dialogue surrounding its flagship Ashram Rare Earths and Fluorspar Project ("Ashram" or the "Project") in Québec.The meeting provided an opportunity for Mont Royal to update participants on Ashram's current stage of development, ongoing activities and next steps, as well as to hear directly from community members and respond directly to questions as the Project continues to advance.

Mont Royal's Managing Director, Nicholas Holthouse, and Vice President, Government Affairs and Sustainability, Cindy Valence, attended the meeting, presenting an overview of the Project and participating in discussions with attendees. Approximately 60 people attended the meeting in person, with close to 100 additional participants joining the presentation online.

The public information meeting comes during a period of increasing visibility for the Ashram Project, including Mont Royal's recent participation in the inaugural Canada Investment Summit in Toronto. As interest in the Project continues to grow among governments, investors and potential strategic partners, Mont Royal remains committed to maintaining regular and meaningful engagement with the communities closest to the Project.

Mont Royal views these activities as an important part of advancing Ashram as a strategically important Canadian critical minerals project - building awareness and understanding of the Project while ensuring that local perspectives, priorities and knowledge can inform its development.

Mont Royal Managing Director, Nicholas Holthouse said:

" As Ashram continues to gain visibility and momentum, including through our recent participation in the Canada Investment Summit, our engagement with communities remains a fundamental part of how we advance the Project. The development of Ashram is not only about its technical and economic potential; it is also about listening, building relationships and ensuring that local perspectives are part of the conversation as the Project moves forward. We sincerely thank everyone who participated, both in person and online, as well as those who helped make our first public information meeting in Kuujjuaq possible. We look forward to continuing the dialogue and providing regular updates as Ashram advances. "

Public Information Session held in Kuujjuaq, September 2026

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Mont Royal would also like to thank the organizations, community representatives and partners who contributed to making this meeting possible. Their collaboration helped create an accessible and constructive forum for dialogue around the Ashram Project.

The questions, comments and perspectives shared during the meeting are important to Mont Royal. They contribute to a better understanding of the community's interests and concerns and help inform the Company's work as the Pre-Feasibility Study progresses, alongside the technical, environmental and socio-economic work associated with the development of the Project.

This first public information meeting marks an important step in Mont Royal's ongoing information-sharing and engagement efforts, which will continue as the Project advances. As part of this commitment, Mont Royal plans to maintain a presence in Kuujjuaq on a quarterly basis to foster regular communication with the community and local organizations.

Public information meetings will also be held every six months to share the latest updates on the Ashram Project, respond to questions from the community and continue discussions as the Project moves through its various stages of development.

Through these initiatives, Mont Royal intends to maintain open, regular and accessible dialogue with communities, Indigenous organizations and other stakeholders.

The Ashram Rare Earths and Fluorspar Project, 100%-owned by Mont Royal Resources and located in Nunavik, northern Québec, hosts a significant rare earth mineral resource comprising 73.2 million tonnes of Indicated Resources at 1.89% total rare earth oxides (TREO) and 131.1 million tonnes of Inferred Resources at 1.91% TREO.

The updated 2026 Preliminary Economic Assessment contemplates an initial 30-year mine life and average annual production of approximately 17,466 tonnes of saleable rare earth oxides, including approximately 4,035 tonnes of neodymium-praseodymium (NdPr). Mont Royal is currently advancing the Ashram Project through a Pre-Feasibility Study, alongside environmental studies, engagement activities, and infrastructure and project development work.

Mont Royal thanks everyone who participated, both in person and online, and looks forward to continuing the dialogue throughout the next stages of the Ashram Project.

About Mont Royal

Mont Royal Resources Limited (ASX: MRZ) (TSXV: MRZL) is a critical minerals development and exploration company with projects in Quebec, Canada. The Company is dedicated to advancing its 100%-owned Ashram Rare Earth and Fluorspar Deposit in Nunavik, Québec, Canada - one of the largest monazite-dominant carbonatite-hosted Rare Earth Elements deposits in North America. In addition, the Company owns 75% of Northern Lights Minerals 536km 2 tenement package located in the Upper Eastmain Greenstone belt. The projects are located in the emerging James Bay area, a Tier-1 mining jurisdiction of Quebec, and are prospective for lithium, precious (Gold, Silver) and base metals mineralisation (Copper, Nickel).

Figure 1: Location of the Ashram REE & Fluorspar Project, the Northern Lights Project and the Port of Saguenay

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For and on behalf of the Board

ENDS

Joel Ives | Company Secretary

To receive regular announcements and updates and to engage with management join Mont Royal's Investor Hub or for more information visit investors.montroyalres.com .

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

Cautionary Statement - Preliminary Economic Assessment

The updated Preliminary Economic Assessment (" PEA ") referred to in this report is a preliminary technical and economic study of the potential viability of the Ashram Rare Earth & Fluorspar Project (" Ashram " or the " Project "). The PEA is based on low-level technical and economic assessments and has been completed to a level of accuracy of ± 50% . It is not sufficient to support the estimation of Ore Reserves or to provide assurance of an economic development case at this stage, nor to provide certainty that the conclusions of the PEA will be realised. Further exploration, technical, and economic studies are required before Mont Royal will be in a position to estimate any Ore Reserves or to provide assurance of an economic development case.

Competent and Qualified Persons

The production target referred to in this report was first reported by the Company on 9 June 2026. The Company confirms that all material assumptions underpinning the production target and forecast financial information derived from the production target in the original announcement continue to apply and have not materially changed.

The Exploration Results and Mineral Resource Estimate for the Ashram Project were first reported in the Company's prospectus dated 30 September 2025 and released to ASX on 1 October 2025 (Prospectus). The Company confirms that it is not aware of any new information or data that materially affects the information relating to the exploration results included in the Prospectus.

Important Notices & Disclaimers

Forward-Looking Statements

This announcement contains certain "forward-looking statements" within the meaning of Australian securities laws and "forward-looking information" within the meaning of Canadian securities laws (collectively referred to as "forward-looking statements"). All statements, other than statements of historical fact, that address circumstances, events, activities or developments that could, or may or will occur are forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these events, activities or developments from coming to fruition include: actual results of current and future exploration activities; that Mont Royal may not be able to fully finance any additional exploration on the Ashram Project; that even if Mont Royal is able raise capital, costs for exploration activities may increase such that Mont Royal may not have sufficient funds to pay for such exploration or processing activities; the timing and content of the proposed drill program and any future work programs may not be completed as proposed or at all; geological interpretations based on drilling that may change with more detailed information; potential process methods and mineral recoveries assumptions based on limited test work and by comparison to what are considered analogous deposits that, with further test work, may not be comparable; testing of our process may not prove successful or samples derived from the Ashram Project may not yield positive results, and even if such tests are successful or initial sample results are positive, the economic and other outcomes may not be as expected; the anticipated market demand for rare earth elements and other minerals may not be as expected; the availability of labour and equipment to undertake future exploration work and testing activities; geopolitical risks which may result in market and economic instability; and despite the current expected viability of the Ashram Project, conditions changing such that even if metals or minerals are discovered on the Ashram Project, the project may not be commercially viable, or other risks detailed herein and from time to time in the public filings made by Mont Royal. Although Mont Royal has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. These forward-looking statements are based on Mont Royal's current expectations, estimates, forecasts and projections about its business and the industry in which it operates and management's beliefs and assumptions, including the non-occurrence of the risks and uncertainties that are described above and in the public filings made by Mont Royal or other events occurring outside of our normal course of business, and are not guarantees of future performance or development and involve known and unknown risks, uncertainties and other factors that are in some cases beyond Mont Royal's control.

Forward-looking statements in this announcement include, but are not limited to, statements regarding; the goals, strategies, opportunities, technologies used, project timelines and funding requirements; impact of combined management expertise and prospective shareholding; the plans, operations and prospects of Mont Royal and its properties; the continued advancement of the Ashram Project to development; that Ashram's fluorspar component which makes it one of the largest potential sources of fluorspar in the world and could be a long-term supplier to the met-spar and acid-spar markets; that Mont Royal is positioning to be one of the lowest cost rare earth element producers globally, with a focus on being a long-term global supplier of mixed rare earth carbonate and/or NdPr oxide; and that Mont Royal may explore the potential of other high-value commodities on the Ashram Property and the expected timetable for dual listing of Mont Royal's shares; and statements about market and industry trends, which are based on interpretation of market conditions. Forward-looking statements can generally be identified by the use of forward looking words such as "anticipate", "expect", "likely", "propose", "will", "intend", "should", "could", "may", "believe", "forecast", "estimate", "target", "outlook", "guidance" (including negative or grammatical variations) and other similar expressions. No representation, warranty, guarantee or assurance, express or implied, is given or made in relation to any forward-looking statement. In particular no representation, warranty or assumption, express or implied, is given in relation to any underlying assumption or that any forward-looking statement will be achieved. There can be no assurance that the forward-looking statements will prove to be accurate. Actual and future events may vary materially from the forward-looking statements and the assumptions on which the forward-looking statements were based, because events and actual circumstances frequently do not occur as forecast and future results are subject to known and unknown risks such as changes in market conditions and regulations.

Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements, and should rely on their own independent enquiries, investigations and advice regarding information contained in this announcement. Any reliance by a reader on the information contained in this announcement is wholly at the reader's own risk.

To the maximum extent permitted by law or any relevant listing rules of the ASX/TSX-V, Mont Royal and their respective related bodies corporate and affiliates and their respective directors, officers, employees, advisers, agents and intermediaries disclaim any obligation or undertaking to disseminate any updates or revisions to the information in this announcement to reflect any change in expectations in relation to any forward-looking statements or any such change in events, conditions or circumstances on which any such statements were based. Nothing in this announcement will, under any circumstances (including by reason of this announcement remaining available and not being superseded or replaced by any other announcement or publication with respect to Mont Royal or the subject matter of this announcement), create an implication that there has been no change in the affairs of Mont Royal since the date of this announcement.

Not Investment Advice

This announcement is not financial product, investment advice or a recommendation to acquire securities of Mont Royal or Commerce and has been prepared without taking into account the objectives, financial situation or needs of individuals. Each recipient of this announcement should make its own enquiries and investigations regarding all information in this announcement, including, but not limited to, the assumption, uncertainty and contingencies which may affect future operations of Mont Royal and the impact that different future outcomes may have on Mont Royal. Before making an investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs, and seek legal, taxation and financial advice appropriate to their jurisdiction and circumstances.

Unless otherwise stated, all dollar values in this Announcement are reported in Australian dollars.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/315611

TMX Newsfile

September 22, 2026 - 5:52 PM PDT

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