GRL.V · 2025-09-22

GreenLight Metals Intersects Significant Copper-Rich VMS Mineralization at Bend Project in Wisconsin Including 12.85m of 4.15% Copper Equivalent Assays on Holes 1-3 Confirm High-Grade Copper with Significant Gold and Tellurium; Visual

Drill Results Exploration Programs

Assays on Holes 1-3 Confirm High-Grade Copper with Significant Gold and Tellurium; Visual Observations Suggest Continued Success in Remaining Holes

Medford, Wisconsin--(Newsfile Corp. - September 22, 2025) - GreenLight Metals Inc. (TSXV: GRL) ("GreenLight" or the "Company") is pleased to announce the completion of its Phase 1 drilling program at the Bend copper-gold VMS Project in Wisconsin and report initial assay results from the first three holes. The six-hole diamond drilling program, totaling 2,037 meters, was completed from three sites along two sections entirely on the Company's leased forty-acre tract of private minerals. Visual logging has been completed for all six holes, with assay results now received for holes B25-001 through B25-003. Results for holes B25-004 through B25-006, which encountered significant visual sulfide mineralization, are expected in the coming weeks.

Highlights

Phase 1 Program Complete: Six-hole drilling program successfully completed on schedule, targeting eastern extensions of the known Bend deposit. Drilling confirms mineralization extends eastward along a ~36-42° plunge and remains open at depth and along trend.

Initial Assays Confirm High-Grade Mineralization: First three holes return significant coppergold intercepts including:

B25-003: 12.85m (11.3m true thickness) @ 1.81% Cu, 1.75g/t Au, 22.7g/t Ag, 346.9g/t Te from 257.00m

Including 3.56m (3.13m true thickness) of @ 2.68% Cu, 2.77g/t Au, 21.17g/t Ag, 481.54g/t Te from 257.00m

Significant Visual Sulfide Intercepts (assays pending):

B25-004: 22.24m (17.8m true thickness) of massive to semi-massive sulfide from 276.29m (visual observation; assays pending), one of the thickest sulfide intervals logged to date at Bend

B25-005: 8.79m (7.21m true thickness) of semi-massive to massive sulfide from 285.83m

B25-006: 17.11m (11.98m true thickness) of semi-massive to massive sulfide from 328.52m

Tellurium Included in Analytical Suite: The current analytical program includes tellurium; results for 6 samples within the B25-003 intercept exceeding the 500g/t detection limit are currently pending. As a designated critical mineral essential for renewable energy and defense applications, tellurium could add significant value to the project.

Strategic Advantage: Program executed entirely on private mineral lands with existing permits, demonstrating GreenLight's ability to advance exploration efficiently while federal permit applications remain pending.

Matt Filgate, President & CEO, commented: "These results mark a new beginning for the Bend Project.

Not only is this the first drill program on the project since 2012 and the first in this area since 1994, but, based on visual logging, the 22.24-meter interval in hole B25-004 represents one of the thickest massive to semi-massive sulfide intercepts recorded on the property. Together with the long sulfide intervals logged in holes B25-005 and B25-006 (assays pending), these results support our interpretation that mineralization strengthens down plunge and remains open to the east. These early outcomes underscore the growth potential of the Bend volcanogenic massive sulfide system and position GreenLight to advance the project aggressively and systematically as the copper market strengthens."

Phase 1 Drilling Results and Geological Context

The Phase 1 program successfully tested the eastern margin of the known Bend deposit along two sections. All drilling was conducted on the Company's leased Soo Line Railroad forty-acre mineral tract. As previously disclosed, Phase 1 contemplated up to eight holes; six holes were completed in this initial phase, with the program utilizing the allocated meterage to pursue thicker mineralization encountered at depth.

The first two holes of the program intersected the upper margins of the Bend massive to semi-massive sulfide horizon and demonstrated a thickening of the mineralized section with depth. The program plan was then adapted to focus on testing the down-plunge continuity of thicker chalcopyrite-rich sulfide mineralization.

Stratigraphy across the drill area is consistent, with a sequence of rhyolite to dacite flows overlying interlayered fine ash to lapilli tuffs. Immediately overlying the semi-massive to massive sulfide horizon are laminated exhalative cherty tuffs and argillites ("hanging wall sediments"). The mineralized massive to semi-massive sulfide horizon is underlain by a thick Chlorite-sericite altered quartz-crystal ("quartzeye") tuff with strong disseminated and bedding-parallel pyrite (locally up to ~20%). The mineralized section of the deposit is underlain by a fine-grained chlorite-sericite tuff that marks the footwall contact of the deposit.

The recently completed drilling indicates a thickening of both the massive to semi-massive sulfide horizon and underlying mineralized crystal tuff unit with depth.

Table 1: Summary of Significant Intercepts - Holes B25-001 to B25-003

DDH	From (m)	To (m)	Interval (m)	True Thickness (m)	Cu (%)	Au (g/t)	Ag (g/t)	Te (g/t)	Cu Eq (%)
B25-001	218.85	219.41	0.56	0.50	0.49	0.54	18.85	163.50	1.37
B25-002	229.95	240.8	10.85	9.60	0.32	0.54	3.95	59.21	1.00
Including	229.95	231.27	1.32	1.17	1.20	0.39	5.84	102.94	1.73
and	239.9	240.8	0.90	0.8	1.52	1.60	21.90	323.00	3.67
B25-003	257	269.85	12.85	11.3	1.81	1.75	22.70	346.90	4.15
Including	257	260.56	3.56	3.13	2.68	2.77	21.17	481.54	6.19
and	266.12	269.85	3.73	3.28	2.08	1.62	33.68	373.83	4.40

Copper Equivalents (Cu EQ) are calculated as an 'in-situ' value of the interval expressed in terms of combining the value of Cu, Au, and Ag at selected metal prices divided by the copper price and expressed as a percent copper. The calculations do not take into account factors such as metallurgical recoveries or payable metals and are shown for demonstrative purposes only. Tellurium (Te) is reported separately and is not

included in the CuEq calculation.

The composite grades of select intervals in the table above are calculated on a length-weighted basis. Te overlimit analyses for samples >500 g/t Te are currently pending for 6 samples representing 5.29 meters of the 12.85m intercept in B25-003. The grade for this intercept was calculated using 500 g/t Te for these samples.

Cu Eq (%) = ((Cu grade (%) * 2204.6 * $4.50) + (Au grade (g/t) / 31.1035 * $3,600) + (Ag grade (g/t) / 31.1035 * $40)) / (2204.6 * 0.01 * $4.50)

Table 2: Visual Sulfide Observations - Holes B25-004 to B25-006 (Assays Pending)

DDH	From (m)	To (m)	Interval (m)	True Thickness (m)	Geologic Description	Est. Sulfide Content
B25-004	276.29	298.53	22.24	17.80	Massive to semi-massive pyrite- chalcopyrite	~75% Pyrite ~8% Chalcopyrite
	298.53	312.1	13.57	10.86	Sulfide-rich quartz crystal tuff	~15% Pyrite ~0.5% Chalcopyrite
B25-005	285.83	294.62	8.79	7.21	Massive to semi-massive pyrite- chalcopyrite	~65% Pyrite ~6% Chalcopyrite
	294.62	311.22	16.60	13.62	Sulfide-rich quartz crystal tuff	~12% Pyrite ~0.5% Chalcopyrite
B25-006	328.52	345.63	17.11	11.98	Massive to semi-massive pyrite- chalcopyrite	~55% Pyrite ~6% Chalcopyrite
	345.63	351.05	5.42	3.79	Sulfide-rich quartz crystal tuff	~15% Pyrite ~0.5% Chalcopyrite

Figure 1: 2025 Drill Program Plan Map

Cautionary Note Regarding Visual Results and Photographs

Any references to "massive," "semi-massive," or "sulfide" intervals are based on visual estimates from core logging. Visual estimates and observations of sulfide minerals (e.g., pyrite, chalcopyrite) are not a proxy for grade and should not be used for resource estimation or economic evaluation. Sulfide mineralization percentages are estimates only. Photographs included in this release are of selected intervals and are not necessarily representative of mineralization throughout a hole. Assays are pending for select intervals and will be reported once received and validated.

Hole Details

B25-001: Designed to test the eastern extension of previously intersected semi-massive to massive pyrite-chalcopyrite mineralization, the mineralized horizon was intersected at 218.85m with a 0.56m pyrite-chalcopyrite semi-massive sulfide zone. This intercept was interpreted as the 'up-dip' margins of the sulfide horizon at depth.

B25-002: Designed to undercut B25-001 by 30m vertically from the same drill site, the mineralized horizon was intersected at 229.95m consisting of two stacked semi to massive sulfide lenses separated by well mineralized quartz-eye crystal tuff demonstrating a thickening of the mineralized section with depth. The upper lens was 1.32m thick while the lower lens was 0.90m and more massive in sulfide texture.

B25-003: Set back 38m south and 30m west of the B25-001/002 section and designed to intercept the mineralized horizon 30m below historic hole B-7 (2.68m @ 1.95% Cu, 1.64g/t Au), B25-003 intersected 12.85m of semi-massive to massive pyrite-chalcopyrite sulfide from 257.00m to 269.85m. B25-003 also cored 3.6m of strongly pyrite mineralized quartz-eye crystal tuff immediately below the massive sulfide horizon. The results proved the working hypothesis that this drill campaign was vectoring towards a thickening of the massive sulfide lens down-plunge.

B25-004: Collared on the same site as B25-003 and designed to test down-plunge continuity 42m below B25-003 vertically, the mineralized horizon was intersected at 276.29m yielding 22.24m of semi-massive to massive pyrite-chalcopyrite sulfide hosting 75% pyrite and average 8% chalcopyrite throughout, locally up to 15%. B25-004 also intersected 13.57m of >15% pyrite in the footwall quartz-eye crystal tuff from 298.53m to 312.10m.

B25-005: Collared as a 47m step back south on the same section as B25-001/002 to test downplunge extent at 60m vertical depth below B25-002, the mineralized horizon was intersected at 285.83m with 8.79m of semi-massive to massive pyrite-chalcopyrite. This hole supported the hypothesis of a 36° to 42° plunge to the east. B25-005 also intersected 16.6m of strong pyrite mineralized footwall chloritized quartz-eye crystal tuff known for hosting gold mineralization from 294.62m to 311.22m.

B25-006: Collared from the same site as B25-005 to test 60m down dip vertically, the mineralized horizon was intersected at 328.52m coring 17.11m of semi-massive to massive sulfides hosting 55% pyrite and 6% chalcopyrite overall. Similar to overlying holes, a 5.42m thick pyritic-rich footwall zone within the quartz-eye crystal tuff (>15% pyrite) was intersected from 345.63m to 351.05m.

Next Steps

Pending Assays: Results for visual sulfide intercepts in holes B25-004 through B25-006 expected within 3-4 weeks

Phase 2: Planning is currently underway for an expanded, winter drill program to follow up on the recent drilling success at the Bend project. Permitting efforts on both the federal properties (Prospecting Permit) as well as within the privately owned Soo Line Mineral Parcel are in progress to initiate a 5,000 - 6,000 meter drill program to further expand the deposit.

Table 3: Drill Collar Information

Hole ID	Easting (m)	Northing (m)	Elevation (masl)	Azimuth	Dip	Total Depth (m)
B25-001	688514.058	5018602.251	412.855	344.0	48.0	279.81
B25-002	688512.840	5018601.978	413.468	342.0	58.0	307.24
B25-003	688490.294	5018569.989	412.868	344.0	55.5	276.61
B25-004	688491.065	5018570.208	412.871	344.7	65.0	368.20
B25-005	688533.987	5018560.256	415.502	345.0	59.0	376.43
B25-006	688534.039	5018560.161	416.008	344.0	67.0	428.85