Announcement • Jul 14
First Tellurium Announces Launch of 2026 Exploration At Deer Horn Property First Tellurium Corp. announced that, with its exploration permit approved for commencement of work July 15, the Company will begin mobilizing crews on its Deer Horn polymetallic property in west-central British Columbia. Deer Horn represents a unique mineral asset. Exploration to date has outlined a 17.5 square-kilometer mineral zone that includes a copper-gold porphyry with extensive bornite on surface and a 2.4 kilometer strike length of high-grade gold, silver and tellurium. The disclosure of technical or scientific information related to the Deer Horn Project in the linked news release was reviewed and approved by Dr. Lee Groat, Ph.D, P.Geo, Technical Advisor to First Tellurium, who is a qualified person within the context of NI 43-101. Announcement • Jul 10
First Tellurium Corp. and PyroDelta Energy Corp. Provides Update on Darpa Lift Challenge Participation and Demonstration Plans First Tellurium Corp. and its subsidiary PyroDelta Energy Corp. have provided an update regarding participation in the U.S. Defense Advanced Research Projects Agency (DARPA) Lift Challenge. PyroDelta was not selected as an official entrant in this year's flight competition. The company will still attend the DARPA event to demonstrate its drone design, meet with industry participants and continue discussions with potential collaborators. During prototype development, PyroDelta conducted real-world testing of its original 20-horsepower turbine propulsion system and determined that actual fuel consumption was higher than the manufacturer's published specifications. As a result, the aircraft would have required substantially more fuel than originally anticipated. Rather than proceed with a design that did not meet its performance objectives, the engineering team elected to redesign the aircraft around a far more powerful, custom-built, 40-horsepower piston engine. In addition to the added propulsion, PyroDelta’s design also included a ground-breaking rotor design that added significantly to lift capacity. While the new system better aligned with the Company's performance goals, the change represented a significant modification to the original competition submission. The redesign resulted in a much stronger and more practical platform capable of lifting well above the targeted 2:1 lift ratio. This was an engine built essentially from scratch, designed specifically to maximize the weight-to-lift ratio and mesh with PyroDelta’s drone design. Combined with the revolutionary rotor design, the company is very confident it would have performed well in the DARPA competition. PyroDelta is planning a demonstration, which will be filmed, prior to the DARPA Lift Challenge. This event will highlight the drone's ability to lift more than twice its own weight. Further updates will be provided as they become available. New Risk • Jun 21
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$2.2m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$2.2m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Negative equity (-CA$583k). Earnings have declined by 21% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$32.8m market cap, or US$23.1m). 
