Nord advances Gowganda silver recovery as federal tax proposal clears

Company highlights potential investment in processing and water systems as engineering and permitting advance

Cobalt, Ontario – September 29, 2026 – TheNewswire – Nord Precious Metals Mining Inc. (TSXV: NTH, OTCQB: NPMMF, FSE: QN3) ("Nord" or the "Company") welcomes the Carney government’s proposed Productivity Mega Deduction as it advances engineering and permitting for its Gowganda Silver Tailings Project. The proposed investment incentives come as Nord defines the processing equipment and water systems needed to build a silver-recovery operation around historical tailings already at surface.

“Canada should be putting the value in its historic mining districts back to work,” said Frank J. Basa, P.Eng., Chief Executive Officer of Nord. “At Gowganda, we are defining the equipment and water systems needed to turn a silver resource into a recovery business. We welcome policies that encourage that investment. Responsible tailings recovery deserves a prominent place in Canada’s resource development strategy.”

The Mining Association of Canada has welcomed the proposal’s broad support for mining and mineral-processing investment, including precious metals. In its September 15 statement , President and CEO Pierre Gratton said: “Today’s announcement by Prime Minister Carney is transformative.”

The case for reinvesting in established mining districts was also highlighted in Bryan Detchou’s September 11 Northern Miner article, “Canada’s critical-minerals shortcut is old mines.” Nord believes that investment agenda should also embrace responsible recovery of historical tailings.

Connecting the proposal to Gowganda

For Nord, the clearest potential application is the equipment needed to turn Gowganda’s tailings into an operating recovery project: mineral-processing machinery and systems to supply, recycle and treat process water. Permanent immediate expensing of qualifying purchases could lower the after-tax cost of that investment when Nord can use the deductions. It is a relevant consideration as engineering defines the project’s capital requirements and the Company evaluates equipment that could serve successive recovery campaigns.

Nord’s September 15 resource update reported an updated mineral resource estimate to support that work. Its September 22 engineering and permitting update reported revised process-design parameters, mass and water balances, and plans to draw process water from the underground mines. Nord is coordinating the recovery-permit program with the separate water-taking and environmental approvals required for an operation. The objective is to establish Gowganda as a base for a wider recovery business supported by TTL Laboratories in Cobalt. Commercial recovery remains subject to technical and economic work, financing and approvals.

Proposed measures and legislative status

As of September 26, 2026, the Department of Finance draft legislative proposals have not been enacted. They would permanently allow a 100% deduction for a broad range of eligible equipment acquired on or after September 15, 2026, generally in the year it becomes available for use. Qualifying Canadian development expenses ("CDE") incurred from that date would also become fully deductible. Eligibility for equipment and CDE is assessed separately; the proposal does not establish that Nord’s tailings expenditures qualify. See Finance Canada’s backgrounder .