GreenLight Metals Receives Regulatory Approvals and Commences Mobiliza<on for Expanded Bend Drill Program
N4480 Co. Rd. E, Medford, WI 54451
NEWS RELEASE
GreenLight Metals Receives Regulatory Approvals and Commences Mobiliza<on
for Expanded Bend Drill Program
February 11, 2026 – MEDFORD, WI. GreenLight Metals Inc. (TSXV: GRL) (OTCQB: GRLMF) (“GreenLight”
or the “Company”) is pleased to announce that its wholly owned subsidiary, Green Light Wisconsin LLC
(“GLW”), has received all required regulatory approvals from the Wisconsin Department of Natural
Resources (“WDNR”) and the U.S. Forest Service (“USFS”) for exploraRon drilling on the Soo Line Mineral
Parcel at the Bend VMS Project in Wisconsin. MobilizaRon of two drill rigs has commenced.
Highlights
• Regulatory Approvals Secured: GLW has received condiRonal approval from the WDNR and
authorizaRon from the USFS for exploraRon drilling on the Soo Line Mineral Parcel, permiVng up
to approximately 7,000 metres of drilling.
• MobilizaNon Underway: Two drill rigs are mobilizing to site, with drilling expected to commence
shortly.
• Proven Contractor Returns: Taconite Drilling LLC, a veteran-owned drilling firm headquartered on
Minnesota’s Iron Range, has been re-engaged following its successful execuRon of the Phase 1
program in 2025. Taconite brings more than five decades of combined diamond-drilling experience
and a strong safety-first culture.
• Program ObjecNves: The expanded program will focus on conRnued tesRng of down-plunge and
down-dip extensions of the high-grade copper-gold-tellurium system.
Ma_ Filgate, President & CEO, commented, “We are pleased to be working with Taconite again as we enter
this exciRng next phase of exploraRon at Bend. Their performance during Phase 1 demonstrated their
experRse in mineral exploraRon drilling and their alignment with our safety and operaRonal standards.
With regulatory approvals in hand and two rigs now mobilizing, we are posiRoned to significantly advance
the Bend Project while conRnuing to unlock the excepRonal copper-gold-tellurium potenRal we have
demonstrated to date.”
Bend Project – 2026 Winter ExploraNon Program
Building on the success of the Phase 1 drill program completed in 2025, GreenLight is advancing an
expanded exploraRon campaign at the Bend Project. The Phase 1 program delivered excepRonal results,
including 34.25 metres averaging 3.74% copper equivalent in hole B25-004, with significant tellurium
values encountered throughout the program.i
The 2026 winter program will be executed on privately controlled (Soo Line) mineral lands. In addiRon to
drilling, borehole electromagneRc (BHEM) surveys will be conducted on the 2026 drill holes to generate
real-Rme 3D plate models that opRmize drill targeRng.
The drilling program will focus on the northeast down-plunge extension of mineralizaRon successfully
delineated during the Phase 1 fall program. The campaign will uRlize two diamond drill rigs across up to
15 permi_ed drill pads, with permits in place for approximately 7,000 metres of drilling. An iniRal porRon
of the permi_ed meterage will be completed during the current winter program, with the remainder to
be drilled following spring breakup.
The Company conRnues to advance its federal permiVng efforts in parallel with operaRons on private
mineral lands. GLW is acRvely engaged with the U.S. Forest Service and Bureau of Land Management
regarding a prospecRng permit applicaRon on adjacent federal lands. Subject to regulatory approvals, the
Company plans to expand drilling onto these parcels later in 2026.
Qualified Person Statement
The technical informaRon in this news release has been prepared in accordance with Canadian regulatory
requirements as set out in NI 43-101 and reviewed and approved by Thomas Quigley, MSc, CPG-11962,
ExploraRon Director of the Company, a Qualified Person as defined by NI 43-101.
Figure 1: Phase 2 permitted drill sites for the 2026 winter program targeting the extension of known mineralization.
Bend Project - 2026 Drill Program
Soo Line Mineral Parcel
Permitted Drill Sites/Access
February, 2026
Explanation
!
2026_Soo Line Initial Drill Holes
2026 Soo Line Permitted Access
2026 Soo Line Permitted Drill Sites
Existing Drillhole Collars
Existing Drill Traces
Historic Massive Sulfide Intercepts
GRL - 2025 Massive Sulfide Intercepts
Historic Mineralization Extents - Constrained
Historic Mineralization Extents - Identified
Soo Line Mineral Parcel
¥0 50 100 150 20025
Meters
Massive to semi-massive sulfide
Figure 2: Bend Long section showing projected mineralization down plunge of historic resource body.
About GreenLight Metals Inc.
GreenLight is a Wisconsin-focused exploraRon company advancing copper-gold and gold projects across
the Penokean Volcanic Belt—one of North America’s most prospecRve VMS districts—and the Kalium
Canyon epithermal gold project in Nevada’s Walker Lane. In Wisconsin, our pormolio includes the Bend
copper-gold deposit, the Reef high-grade gold project, and the Lobo and Lobo East massive sulfide targets.
Guided by a team with deep roots in the state, we are building a modern minerals company for Wisconsin,
by Wisconsin—commi_ed to responsible exploraRon, transparent engagement, and creaRng durable local
opportuniRes as we help supply the criRcal metals that power the energy transiRon.
For more informaNon, please contact:
Ma_ Filgate, President & CEO
(778) 679-3579
Neither TSX Venture Exchange nor its Regula7on Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
CauNonary Statement Regarding Forward-Looking InformaNon
This press release contains forward-looking statements within the meaning of applicable securiRes laws.
All statements in this release, other than statements of historical fact, are forward-looking statements and
are based on the opinions and esRmates of management as of the date hereof.
Forward-looking statements in this press release include, but are not limited to, statements regarding: the
anRcipated Rming, scope and nature of the 2026 exploraRon program at the Bend Project; expectaRons
regarding mobilizaRon and commencement of drilling; the number of drill rigs, drillholes, drill sites and
anRcipated meterage; the potenRal for extensions of mineralizaRon; the anRcipated use of borehole
electromagneRc surveys; and expectaRons regarding federal permiVng and potenRal expansion onto
addiRonal parcels.
These forward-looking statements are subject to known and unknown risks, uncertainRes and other
factors that may cause actual results to differ materially from those expressed or implied, including: risks
related to exploraRon and drilling results; risks related to permiVng, Rtle, environmental ma_ers and
government regulaRon; dependence on third-party contractors; changes in project plans; volaRlity in
commodity prices; the availability of capital; general business and market condiRons; and the other risks
described in the Company's public disclosure documents filed on SEDAR+.
Readers are cauRoned not to place undue reliance on forward-looking statements. The Company disclaims
any intenRon or obligaRon to update or revise any forward-looking statements except as required by
applicable law.
i CuEq is reported to express the aggregate in-situ value of copper, gold and silver as a percentage copper grade. CuEq incorporates
assumed metallurgical recoveries and is not a proxy for, nor evidence of, economic value. Tellurium (Te) is reported separately and is not
included in CuEq.
CuEq (%) = ((Cu grade (%) / 100 × 0.9 (recovery) × 2204.6 × US$4.50) + (Au grade (g/t) × 0.9 (recovery) / 31.1035 × US$3,600) + (Ag grade (g/t)
× 0.9 (recovery) / 31.1035 × US$40)) / (2204.6 × 0.01 × US$4.50).
Assumptions: metal prices of US$4.50/lb Cu, US$3,600/oz Au, US$40/oz Ag; recoveries of 90% for Cu, Au and Ag based on the Company’s
preliminary assessment of analogous VMS deposits. No allowances have been made for smelting/refining charges, penalties or
deleterious elements, or payability factors. No metallurgical test work has been completed at Bend; actual recoveries and payabilities are
unknown and may di‘er materially.