GreenLight Metals Reviews 2025 Achievements and 2026 Exploration Strategy
GreenLight Metals Reviews 2025
Achievements and 2026 Exploration Strategy
Medford, Wisconsin--(Newsfile Corp. - January 8, 2026) - GreenLight Metals Inc. (TSXV: GRL)
("
GreenLight
" or the "
Company
") is pleased to provide a summary of its key accomplishments during
2025 and outline its exploration strategy for 2026. In 2025, GreenLight completed the first drill program
at the Bend Project in more than a decade, delivered strong copper-gold results, and strengthened its
balance sheet to support expanded exploration in Wisconsin in 2026.
"2025 was a transformational year for GreenLight, kicking off with our successful public listing on the
TSX Venture Exchange in April," said Matt Filgate, President & CEO. "Strong drill results from our first
phase of drilling at Bend validated our thesis that the historic 4.0 million tonne resource has potential for
expansion.
i
Importantly, these results further highlight Bend's potential role as a future U.S.-based source
of critical metals, supporting domestic supply chain security. During the year, we also secured strong
funding with the closing of our C$11.5 million bought deal financing in November while welcoming new,
high-quality institutional investors to our share register.
"In 2026, we plan to mobilize two rigs for a significantly expanded drill program at Bend as we advance
toward a maiden resource estimate, while also pursuing belt-wide exploration and strategic acquisitions
to strengthen the U.S. critical metals supply."
Bend Project - Phase 1 Drilling Delivers Strong Results
In 2025, GreenLight completed its Phase 1 drill program at the Bend Project in Wisconsin, marking the
first drilling on the property by any operator in more than a decade. The six-hole, 2,037-metre program
was designed to test down-plunge and eastern extensions of known mineralization, and the results
confirmed both continuity and strengthening of the system with depth.
Assays from early holes demonstrated high-grade copper-gold mineralization, including
12.85 metres
averaging 3.74% copper equivalent
("CuEq") in hole B25-003.
ii
Follow-up results from holes B25-
004, B25-005, and B25-006 further exceeded expectations and represent the strongest intersections of
the program.
Hole B25-004, drilled approximately 45 metres down plunge from earlier results, intersected a broad,
continuous mineralized interval of
34.25 metres averaging 3.74% CuEq
. Within this interval, the hole
returned
22.24 metres of 3.02 g/t Au and 2.03% Cu (5.27% CuEq)
, including a localized high-grade
gold zone grading
7.41 g/t gold over 6.10 metres
, with visible gold observed at approximately 290
metres depth. These results demonstrate a clear increase in both grade and thickness as drilling
advances toward the core of the deposit.
Hole B25-005 successfully extended mineralization a further 57 metres down plunge and 47 metres
along strike, returning
19.32 metres averaging 2.95% CuEq
, including 8.79 metres of massive to
semi-massive sulfide grading
3.74% CuEq
.
Hole B25-006 continued to extend mineralization approximately 65 metres down dip and down plunge,
returning
23.98 metres averaging 2.86% CuEq
, including 17.11 metres of massive to semi-massive
sulfide grading
3.32% CuEq
. Together, these results confirm a consistent 36° to 42° easterly plunge to
the mineralized system and establish strong vectors for continued expansion.
Significant tellurium values were encountered throughout the Phase 1 program, with multiple over-limit
assays >500g/t Te, coincident with copper-gold mineralization. As a designated critical mineral, tellurium
adds an additional dimension of potential value to the Bend Project.
Importantly, the entire Phase 1 drill program was completed on privately controlled (Soo Line) mineral
lands with existing permits. This allowed GreenLight to advance exploration efficiently while federal
permitting efforts continue in parallel, underscoring a key strategic advantage of our Wisconsin asset
base.
2026 Exploration Outlook
The success of the Phase 1 program has positioned GreenLight well for the next stage of exploration on
the Bend Project. Planning is underway for an expanded drill program at Bend. The Company has
submitted a Notice of Intent (NOI) to the Wisconsin Department of Natural Resources for the Soo Mineral
Lease that, if approved, would permit up to approximately 7,000 metres of drilling on that parcel. Subject
to approvals, the Company expects to mobilize two drill rigs and commence an initial winter program,
with follow-up metreage guided by results. Upon approval of the Prospecting Permit on U.S. Forest
Service lands, drilling would focus on resource-definition drilling within areas of known mineralization to
support a future maiden mineral resource estimate, as well as western down-dip extensions of the
mineralized horizons.
Borehole electromagnetic (BHEM) surveys will be conducted on the 2026 drill holes to generate real-
time 3D plate models that optimize drill targeting, while drill testing of the outboard Bend North and Bend
East EM anomalies will be completed.
Concurrently, a comprehensive internal geologic model will be developed to guide an iterative resource
modeling strategy, alongside ongoing validation of historic data, including assays, surveys, collar
locations, and relogging in support of geologic modeling.
Beyond Bend, GreenLight anticipates additional drill testing across its broader Wisconsin portfolio in
2026 as permits are received and targets are prioritized. At the Lobo East project, baseline
environmental work and permitting preparations are well underway in support of future drill testing of
VMS mineralization, subject to regulatory approval. At Reef, the Company continues to validate and
digitize historic datasets, review and integrate historic drill core information, and refine geological
interpretations to support future exploration planning. The Company expects to provide further updates
as programs are finalized and approvals are received.
Figure 1: Bend Long section showing projected mineralization down plunge of historic
resource body.
To view an enhanced version of this graphic, please visit:
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Grant of Deferred Share Units to Directors
In accordance with the Company's director compensation policy, the Company has granted an
aggregate of 487,581 deferred share units ("
DSUs
") to its directors in full satisfaction of director fees
earned for the second, third and fourth quarters of 2025. All directors are paid their director fees entirely
in DSUs.
Each DSU can be redeemed for one fully paid and non-assessable common share of the Company
issued from treasury. The DSUs were granted in accordance with the Company's amended and restated
equity incentive plan. The DSUs will vest one year following their grant and will be settled following a
director's retirement or other cessation from the board, in accordance with the terms of the equity
incentive plan and applicable law. The DSU grant is subject to acceptance by the TSX Venture
Exchange.
Qualified Person Statement
The technical information 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, Exploration Director of the Company, a Qualified Person as defined by NI 43-101.
About GreenLight Metals Inc.
GreenLight is a Wisconsin-focused exploration company advancing copper-gold and gold projects
across the Penokean Volcanic Belt-one of North America's most prospective VMS districts-and the
Kalium Canyon epithermal gold project in Nevada's Walker Lane. In Wisconsin, our portfolio 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-committed to responsible exploration, transparent engagement,
and creating durable local opportunities as we help supply the critical metals that power the energy
transition.
For more information, please contact:
Matt Filgate President & CEO
(778) 679-3579
Neither TSX Venture Exchange nor its Regulation 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.
Cautionary Statement Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian
securities laws. Forward-looking information includes, but is not limited to, statements regarding the
Company's 2026 exploration strategy and planned work programs, including drilling and geophysical
programs at the Bend Project and elsewhere in Wisconsin; the timing and receipt of permits and
regulatory approvals; the expected use and potential benefits of borehole electromagnetic surveys;
statements regarding the potential to expand mineralization and/or any historical estimate at the Bend
Project; and the timing, completion and results of a maiden mineral resource estimate.
Forward-looking information is based on management's reasonable assumptions but is subject to
known and unknown risks and uncertainties that may cause actual results to differ materially, including
risks related to permitting and access, changes in plans or budgets, availability of contractors and
equipment, adverse weather and seasonal conditions, assay/laboratory turnaround times, the results of
exploration and interpretation of data, and general market and commodity price conditions. Readers are
cautioned not to place undue reliance on forward-looking information. The Company does not undertake
to update forward-looking information except as required by applicable law. Additional risk factors are
described in the Company's continuous disclosure filings available on SEDAR+.
i
Historical resource estimate.
Source (primary): E.K. Lehmann and Associates, Inc. (1992), Report of the geology and ore reserves of the Bend
copper-gold deposit, Taylor County, Wisconsin. Bureau of Land Management Preference Right Lease Application (prepared for the Jump River Joint
Venture). Methods/parameters known from the source: Prepared from ~33 diamond drillholes; polygonal and cross-sectional methods were both
used and averaged; at the time the estimate was categorized as a "geologic resource" under USGS Circular 831 (1980); no cut-off grade was
stated in the source report. Cautionary statements: This historical estimate does not comply with CIM Definition Standards as required by NI 43-101
and has no comparable resource classification; a Qualified Person has not done sufficient work to classify the historical estimate as current; the
Company is not treating the historical estimate as current mineral resources; and significant data compilation, re-drilling, re-sampling and verification
will be required before any classification as current resources-investors should not rely on this historical estimate.
ii
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
differ materially.
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