Volta Metals Secures Contiguous 8.3-Hectare Claim to Expand Springer Rare Earth Deposit in Ontario

Extension of Strategic Land Position Along Springer's Eastern Trend

Volta's acquisition of the adjacent 8.3-hectare claim geographically extends its Springer Rare Earth Element and Gallium Deposit, located on the traditional territory of the Nipissing First Nation near Sturgeon Falls, Ontario. Situated about 70 kilometres east of Sudbury, the property benefits from direct highway access and proximity to established infrastructure such as power lines, natural gas pipelines, and Canadian National Railway service. This claim extends the company’s control of the mineralized system eastward by approximately 250 metres beyond the current mineral resource estimate limits.

Geological modeling indicates rare earth oxide mineralization continues eastward from the defined deposit core onto the newly acquired claim. This acquisition along the established mineralization trend suggests continuity of the Springer carbonatite system, the primary host of rare earth oxides at the deposit. By securing this eastern extension, Volta eliminates a potential exploration gap and consolidates a larger property to support near-term drilling and long-term resource expansion.

Historical Drilling and Mineralization Details on the New Claim

Historical drill hole SL11-07, the sole drill test on the acquired claim, was completed between August 15 and 18, 2011, by Rare Earth Metals Inc. The hole reached a total depth of 184.71 metres, with assay sampling covering 101.81 metres across five intervals from 42.75 to 179.18 metres downhole, leaving some sections unsampled.

The strongest continuous mineralization was between 147.00 and 152.00 metres, returning 1.01% total rare earth oxides over 5.00 metres, including a high-grade 1.49% TREO interval over 3.00 metres. Other notable intervals include 1.79% TREO over 1.28 metres (50.52 to 51.80 metres), 0.67% TREO over 15.70 metres (155.35 to 171.05 metres), and 1.26% TREO over 1.05 metres (177.13 to 178.18 metres). The drill hole also intersected 0.539% TREO over 36.98 metres (49.52 to 86.50 metres). Mineralization remains open at depth, indicating potential for additional mineralized material below the tested intervals.

Unsampled Intervals and Historical Data Quality Controls

Several unsampled intervals in SL11-07 contain minor carbonatite veins with trace fluorite, including a notable 175.73 to 176.00 metres section logged as approximately 85% carbonatite but unassayed. Given carbonatite is the primary host of rare earth elements at Springer, these unsampled sections may contain unquantified rare earth oxide grades.

Quality control for SL11-07 samples adhered to industry standards at the time, with half-core samples analyzed and the remainder retained. Standards from Canmet and OREAS were inserted every 20th sample, alongside blank samples. Sample preparation involved lithium metaborate/tetraborate fusion, followed by major oxide analysis via ICP-OES and trace elements via ICP-MS. Analytical work was performed by Actlabs, accredited under ISO 17025 and NELAP. While the Qualified Person has not independently verified drill hole location or assays, the data is believed to comply with period industry standards.

Updated Springer Mineral Resource Estimate and Deposit Ranking

On February 23, 2026, Volta announced an updated mineral resource estimate for Springer, effective December 31, 2025, prepared by SLR Consulting (Canada) Ltd. The estimate includes 56.6 million tonnes indicated at 0.70% TREO, featuring an 11.5 million tonne near-surface high-grade core at 1.10% TREO, and 119.5 million tonnes inferred at 0.58% TREO, including a 3.0 million tonne near-surface high-grade core at 1.16% TREO. Resources are reported within an optimized open pit shell with a C$43 per tonne net metal revenue cut-off. Praseodymium and neodymium account for about 90% of the total net metal value.

According to the S&P Global Market Intelligence database as of 2025, Springer ranks among North America’s top 10 largest rare earth element deposits by contained tonnage. The company notes mineral resources are not mineral reserves and lack demonstrated economic viability. Mineralization on the acquired claim, including SL11-07 intervals, is not part of the current resource estimate. An NI 43-101 technical report supporting the estimate was filed on SEDAR+ on April 9, 2026.

Transaction Terms and Regulatory Approvals

Under the definitive agreement announced July 21, 2026, Volta will acquire 100% interest in the claim by issuing 600,000 common shares to an arm's length vendor. These shares are subject to a statutory hold period of four months and one day per Canadian securities laws. The vendor retains a 2% net smelter returns royalty, with Volta having the option to purchase 1% of this royalty for C$500,000, reducing the vendor’s retained royalty to 1% NSR.

Closing is subject to customary conditions, including Canadian Securities Exchange approval. No finder's fee was paid. The company anticipates CSE regulatory review and approval as part of standard oversight for CSE-listed issuers. Timing for closing and approval was not specified.

Anticipated Impact on Resource Expansion and Upcoming Drilling

Volta expects the acquired claim to add tonnage for future mineral resource updates but has not yet completed a resource estimate on the new property. The acquisition supports the company’s plans to update resources as drilling and exploration advance. Given SL11-07’s historical results and the claim’s location along strike from Springer’s high-grade core, Volta views the claim as underexplored with potential to contribute additional mineralized tonnage when drilling resumes.

Volta currently has three 2026 drill holes testing Springer’s southeast extension, with assays pending. These results will be incorporated into the mineral envelope upon receipt. The company cautions these are forward-looking intentions without guarantees on timing, assay content, or inclusion in future resource estimates. It also notes SL11-07 results may not represent mineralization across the entire claim.

Volta’s Broader Critical Minerals Exploration in Ontario

Volta Metals Ltd. is a critical minerals exploration company focused on rare earths, gallium, lithium, cesium, and tantalum. Its portfolio includes 4,750 hectares of projects across Ontario, a leading hard-rock critical mineral district. The Springer Rare Earth Element deposit is its flagship asset, positioned to benefit from growing demand in clean energy, transportation, and defense sectors.

Beyond Springer, Volta holds interests in other projects like the Aki Project. Springer’s proximity to infrastructure—including Crystal Falls hydroelectric power, natural gas pipelines, highways, and Canadian National Railway—supports potential development with reduced capital intensity. The eastern claim acquisition aligns with Volta’s strategy to consolidate and expand its most advanced asset while maintaining exploration flexibility across Ontario.

Risks and Investment Considerations for Resource Expansion

The company highlights limitations regarding the acquired claim’s mineralization potential. Only one historical drill hole (SL11-07) exists, completed over a decade ago. While believed to meet industry standards, the Qualified Person has not verified location or assays. Historical data reliability cannot be guaranteed, and lab results may differ from field observations.

There is no assurance further drilling will identify additional mineralization or that any discovered mineralization will be sufficient for inclusion in a resource estimate or economic extraction. Mineralization on the claim is excluded from current resources, and SL11-07 results may not represent the entire claim. Future rare earth and gallium prices, regulatory timelines, and funding availability also pose material risks affecting property value and advancement.

Forward-Looking Statements and Disclosure Notes

The announcement contains forward-looking statements about claim acquisition completion, exploration, resource estimates, and potential contributions from the new claim. These involve risks and uncertainties and do not guarantee outcomes. There is no assurance the acquisition will close on described terms or that CSE approval will be granted, nor that the claim will materially impact future resource estimates.

Factors impacting actual results include future rare earth and gallium prices and demand, historical data reliability, regulatory delays, analytical discrepancies, and inherent exploration risks. The company disclaims any obligation to update forward-looking statements except as required by law. Investors are cautioned against undue reliance on these statements.