TORONTO, ONTARIO, CANADA – THURSDAY, JANUARY 22nd, 2026, NINE MILE METALS LTD. (CSE: NINE, OTCQB: VMSXF, FSE: KQ9) (the “Company” or “Nine Mile”), is pleased to announce that the 4th drill hole in its Wedge Western Extension Drill Program (DDH-WD-25-04) has been completed.

• DDH WD-25-04 was collared on the same drill pad as WD-25-01 and drilled at an azimuth of 335 degrees and a dip of -60 degrees to a final depth of 239 meters to expand the mineralization in WD-25-01 at depth.
• DDH WD-25-04 was successful, with 40m of mineralization, first intersected at 158 meters and continuing to approximately 198 meters. Once again, secondary Copper, both Covellite and Bornite was present in the hole.
• At 158 meters, copper bearing sulphides (VMS – Cu-Pb-Zn-Ag-Au) was found in contact with sheared, graphitic sediments.
• Between 162.0 and 183 meters, the drill hole intersected a sequence of sheared silicified volcanics (rhyolite) with parallel bands of 5 – 8% sulphides including pyrite and chalcopyrite.
• At 183 meters, the volume of sulphides increases to 50- 60% with visible pyrite and chalcopyrite, the contrast in mineralization styles shown in Figure 1, the chalcopyrite occurring as both mineralized bands and as disseminations Figure 3.
• The sulphide mineralization in the drill hole occurs within silicified volcanics, the base of section brecciated before transitioning to sediments.

FIGURE 1: Cu bearing VMS mineralization

FIGURE 2: Chalcopyrite (CuFeS2) and Covellite (CuS) mineralization.

FIGURE 3: Chalcopyrite occuring both mineralized bands and dissminations (left), VMS mineralization (right).

Patrick J Cruickshank, CEO & Director stated “Our drill program successes continue with this 40m intersect of mineralization in this 4th drill hole WD-25-04. This is the 4th Hole of a planned 7, designed by our Technical Team headed by Mike Dufresne and Gary Lohman. The programs successes to date displays the hard work from all the 3D modelling of historical data, new geophysical work by our team and most important, our compilation, interpretation and hours of consultations with experts such as Jim Walker, PhD, from the ever-supportive NB DEM Team in Bathurst. Our Team is already laying the groundwork for the 2nd Phase of the Wedge program and the Tribag, West Wedge Program for this spring, testing this string of anomalies stretching over 6 kms west of our Wedge Deposit. The closing of our oversubscribed Financing ensures an extensive 2026-2027 Exploration Program at all four projects in our portfolio including our return to Nine Mile Brook . Our financial strength should allow us to have a lengthy program this year with the luxury of not having to raise for the foreseeable future reduced dilution risk for our shareholders. We look forward to continuing to update our shareholders with the completion of this program and the release of our Certified Assays.”

FIGURE 4: Grey, Silicified Rhyolite, an important host of mineralization in the VMS System in the BMC

FIGURE 5: Drill Hole Location, WD-25-04

Gary Lohman, Director, P.Geo., VP Exploration, stated ”The mineralization is massive in character, fine grained, with basic Fe (Pyrite) and Cu sulphides (Chalcopyrite – Covellite), mineralogy as we have seen in recent drilling. Visible covellite (CuS) was locally present, adding a high grade component to the system. Again, these values explain what we are seeing in our drill core from our first 3 holes. (WD-25-01 & WD-25-02 & WD-25-02B). We are extremely encouraged and look forward to the WD-25-01 Certified Drill Core Assay Results.”

Patrick J. Cruickshank, MBA, CEO & Director, stated “Our current Wedge Program continues to demonstrate the high-grade quality of the sampling of this deposit. These results are simply outstanding. Our current Drill Program was designed with this quality of mineralization below and I believe our 1^st (3) announced drill holes clearly demonstrates this success. This is definitely a special copper rich deposit. We look forward to sharing our summary of our next drill hole in our program.”

Qualified Person The technical content of this news release pertaining to the Wedge Project was reviewed and approved by Gary Lohman, P.Geo., a non-independent qualified person as defined by National Instrument 43-101.

Copper Equivalent (Cu-Eq) for these surface grab samples is calculated based on December 16, 2025, pricing: US$ 5.35/lb Cu, US$ 0.88/lb Pb, US$ 1.37/lb Zn, US$ 67.10/oz Ag, and US$ 4337.70/oz Au, with 80% metallurgical recoveries assumed for all metals. Since it is unclear which metals will be the principal products, assuming different recoveries is premature at this stage. Therefore, an 80% recovery rate is justified.

About Nine Mile Metals Ltd.:
Nine Mile Metals Ltd. is a Canadian public mineral exploration company focused on VMS (Cu, Pb, Zn, Ag and Au) exploration in the world-famous Bathurst Mining Camp, New Brunswick, Canada. The Company’s primary business objective is to explore its four VMS Projects: Nine Mile Brook VMS Project; California Lake VMS Project; and the Canoe Landing Lake (East – West) Project and the Wedge VMS Project. The Company is focused on exploration of Minerals for Technology (MFT), positioning for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge with Gold.

Social Media

ON BEHALF OF NINE MILE METALS LTD.

“Patrick J. Cruickshank, MBA”
CEO and Director
T: +1.506-800-0581
E: [email protected]

Forward-Looking Information:

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Nine Mile. Forward-looking information is based on certain key expectations and assumptions made by the management of Nine Mile. In some cases, you can identify forward-looking statements by the use of words such as “will,” “may,” “would,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “could” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements in this press release include that (a) our Geophysics Program will turn its focus next to the Nine Mile Brook Project and our Eastern Portfolio, (b) both Plates A and C are large, massive, strong conductors, having both the length and depth parameters for a potentially large, mineralized body consistent with example deposits throughout the BMC, and (c) we look forward to announcing our Phase 2 Advanced Geophysics results, including full interpretations and high priority targets for our Western Portfolio. Although Nine Mile believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Nine Mile can give no assurance that they will prove to be correct.

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.