Announcement • Jul 28

North Atlantic Titanium Corp. Provides Additional Information on the Application for an Everett Project Three-Year Drilling Permit

North Atlantic Titanium Corp. provided additional information regarding its submission for drilling permits for its program at the Everett Titanium-Vanadium-Phosphate project, Havre-Saint-Pierre, Québec. The Company holds the 2,406-ha Everett property under Option from Romaine River Titanium Inc. Pending on behalf of Romaine River and the Company are a PAF (Permit for Forestry Activities) and an ATI (Permit for Work with Impact) for the drilling campaign only. After obtaining permits, the Company will engage in, and finance, drilling in success-contingent stages. The Company’s diamond drilling plans focus on confirming the 1951 and 1968 diamond drilling in the northern area of the exposed Everett Oxide Body, totalling approximately 25,000 m across 20 drill pads, to be completed in 3 years or less. The northern area represents about 50% of the Everett Oxide Body's tested surface strike length. The plan submitted for the PAF and ATI is shown in relation to historical drilling and sampling, surface mapping and recent metallurgical testing. Forest impacts under the PAF application are minimal because North Atlantic Titanium Corp. is mostly brushing out historical drill trails for access. The work, when completed, will provide access to both the north and south areas of the 2.5-km-long exposure of the Oxide Body. Trails depicted in green were established in past drilling programs. Those in dashed yellow and magenta are new trails. The Oxide Body is open down-dip Eastward and along strike to the North. Stage 1 under the ATI application will comprise 6,000 m of widely spaced, west-oriented drilling between Section 9N and 19N along a swath 1,320 m along strike and 600 m down-dip. This first Stage will delineate the Oxide Body limits in the northern area, collect samples for assay and metallurgical analyses and frame the follow-up drilling. Stage 2 under the ATI application will comprise success-contingent, west-oriented infill drilling to define a Mineral Resource Estimate, requiring about 19,000 m of diamond drilling. Stage 1 drilling will commence upon acceptance of the ATI application. Stage 2 will likely begin in the late winter of 2026-27. The mineralized unit on the Property is an oxide-apatite-gabbronorite (Unit 7). Unit 7 is extensive, spanning more than 6 km of strike length on the Property. The main area of historical sampling and drilling within Unit 7 is outlined and named the Everett Oxide Body. The Oxide Body remains open along strike to the north and south, and down-dip. The Corem composite metallurgical sample contained massive Ti-Oxide mineralization grading 37.0% Fe2O3, 17.4% TiO2, 0.18% V2O5 and 2.27% P2O5. The sample had a weighted-average head grade measured by Corem of 37.0% Fe2O3, 17.4% TiO2, 0.18% V2O5 and 2.27% P2O5, with a Satmagan measurement of magnetite averaging a very low 0.9% in the head sample. Corem results determine that over 99% of the oxides in the composite sample are hemo-ilmenite (FeTiO3). Together, the hemo-ilmenite and apatite comprise over 50% of the sample. Everett and the nearby Lac Tio deposit are hosted by the Lac Allard Anorthosite intrusion, which is dated at approximately 1.06 Ga. The Lac Allard Anorthosite intrudes the broader Havre-Saint-Pierre anorthosite complex, which is 1.13 Ga in age. Lac Tio Deposit is the world's largest hard-rock ilmenite deposit; it contained more than 200 Mt pre-mining at grades over 60 wt.% hemo-ilmenite (FeTiO3). Rio Tinto’s Québec titanium dioxide operation supplies approximately 19% of global titanium dioxide feedstock demand, sourced from the Lac Tio open pit and processed at the Sorel-Tracy metallurgical complex. Everett Oxide Body lies only 3 Km from the Lac Tio Mine. The Unit 7 gabbronorite of Everett occurs within the Lac Allard Anorthosite. Perreault (2001) states that the Everett mineralization is associated with a jotunite (gabbronorite) band about 3 km long and up to 300 m thick, composed of ilmenite, hematite, magnetite, and apatite, with plagioclase and orthopyroxene. Locally, oxides and apatite may make up as much as 50% of the rock. The Corem analysis confirms similar petrography but shows a predominantly enstatite composition, yielding an oxide-apatite noritic gabbro classification, as in Lac Tio and nearby ilmenite deposits. Lac Tio and Everett are both characterized by dominant hemo-ilmenite mineralization. Lac Tio is a massive hemo-ilmenite cumulate representing an extreme oxide accumulation within the Lac Allard magmatic system formed from multiple pulses of magma; mineral separates characterize hemo-ilmenite containing 1.6–3.2 wt.% MgO in the deposit. In contrast, Everett is hosted by a layered intrusion with an uncommon jotunite affinity, termed an oxide-apatite-gabbronorite, with evidence of higher volatile contents such as phosphorus (apatite), and semi-massive hemo-ilmenite with significantly lower Mg, Mn, Cr and Al than Lac Tio. The Corem hemo-ilmenite sample, for example, has a mean MgO content of 0.38%. The relatively low MgO values observed in the Everett oxide mineralization are consistent with an evolved magmatic differentiation model and distinguish the Everett system chemically from classical anorthosite-hosted Fe–Ti deposits. The Everett is shown in the Corem testing to have the potential for a low-Mg/Cr hemo-ilmenite concentrate, with potential coproducts of apatite (phosphorus) and vanadium. The project therefore represents a broader Fe–Ti–V-P critical-minerals opportunity than that of a conventional titanium orebody. On March 31, 2026, the Company joined Romaine River in its collaboration with Centre technologique des résidus industriels, Impact Global Solutions, and Corem in support of metallurgical testing at the Everett project in Québec. The Program is managed by the Elements08 Strategic Metals Excellence Centre and is funded by the Government of Québec. Corem is a Québec City-based, non-profit applied research center specializing in mineral processing, extractive metallurgy, and mineral characterization. Corem is one of Canada’s leading independent mineral processing laboratories. Julien Davy, P.Geo., M.Sc., MBA, independent consultant, a Qualified Person under National Instrument 43-101 on standards of disclosure for mineral projects, has approved the technical information about the Everett Property in this news release.

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