TSX.V Announcement

TSX.V Announcement

November 12, 2025

Velox Energy Materials Inc. Announces Cancellation of

Stock Options

Vancouver, British Columbia – November 12, 2025 – Velox Energy Materials Inc. (TSX -V: VLX) (the

“Company”) announces that its Board of Directors has approved the cancellation of an aggregate of

2,347,222 stock options previously granted to directors and employees of the Company.

The cancellations were made in accordance with the Company’s Long -Term Incentive Plan (the “Plan”),

which permits the issuance of options representing up to 10% of the Company’s issued and outstanding

common shares.

Following completion of the cancellations, the Company will have no stock options outstanding under the

LTIP. The full capacity available under the LTIP may be used for the future issuance of security -based

awards at the discretion of the Board of Director s, subject to TSX Venture Exchange policies.

Approved by the Board of Velox Energy Materials Inc.

Nicole Morcombe

Director

Email: [email protected]

Phone: (416) 214-7577

About Velox Energy Materials

Velox Energy Materials is a publicly traded energy materials company developing and progressing high-value

assets in resource and research -friendly jurisdictions. The Company’s priority focus is the advanced NQV

Project in Queensland, Australia. The NQV Pr oject hosts the Cambridge Deposit with a CIM compliant

Indicated Mineral Resource of 61.33 Mt @ 0.34% V 2O5 and 234.6 ppm MoO 3 along with an Inferred Mineral

Resource of 144.87 Mt @ 0.33% V 2O5 (cut-off grade of 0.25% V2O5) and 241.9 ppm MoO3 (Dufresne et al.,

2022). The Company is targeting shallow, high -grade mineralization that can be developed using low -cost

mining and processing options.

The Company additionally owns Kotai Energy and the option to acquire 100% of the intellectual property rights

associated with the Solid-State Hydrogen Storage Project from Curtin University in Western Australia. Kotai is

focused on the commercialisation of technology that can produce high-pressure hydrogen following transport

as an inert powder.

Forward Looking Statements

Neither the 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 release.

This release includes certain statements and information that may constitute forward-looking information within

the meaning of applicable Canadian securities laws. Forward -looking statements relate to future events or

future performance and reflect the exp ectations or beliefs of management of the Company regarding future

events. Generally, forward-looking statements and information can be identified by the use of forward-looking

terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that

certain actions, events or results “may”, “could”, “should”, “would” or “occur”. This information and these

statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date

of this news release and include without limitation, statements regarding discussions of future plans, estimates

and forecasts and statements as to management's expectations and intenti ons with respect to, among other

things, the proposed amendments to the terms of the Warrants.

veloxenergymaterials.com.au | 45 Ventnor Avenue, West Perth WA 6005

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These forward ‐looking statements involve numerous risks and uncertainties and actual results might differ

materially from results suggested in any forward -looking statements. These risks and uncertainties include,

among other things, market uncertainty and the risk that the Exchange will not approve the amendments to

the terms of the Warrants.

In making the forward-looking statements in this news release, the Company has applied several material

assumptions, including without limitation, that the Company will receive approval from the Exchange to amend

the terms of the Warrants.

Although management of the Company has attempted to identify important factors that could cause actual

results to differ materially from those contained in forward -looking statements or forward-looking information,

there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no

assurance that such statements will prove to be accurate, as actual results and future events could differ

materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on

forward-looking statements and forward -looking information. Readers are cautioned that reliance on such

information may not be appropriate for other purposes. The Company does not undertake to update any

forward-looking statement, forward-looking information or financial out-look that are incorporated by reference

herein, except in accordance with applicable securities laws. We seek safe harbor.