Total Metals Completes High-Resolution Airborne Magnetic Survey at its High-Grade High Lake Gold Property, Northwestern Ontario

(via TheNewswire)

May 26, 2026 – TheNewswire - Toronto, ON - Total Metals Corp. (“Total Metals” or the “Company”) (TSX-V: TT) (OTCQB: TTTMF) (FSE: O4N) is pleased to announce the completion of a high-resolution airborne magnetic survey on its High Lake Gold Property, located in Northwestern Ontario (the “Project”).

High-Resolution Airborne Magnetic Survey

The high-resolution, drone-based airborne magnetic survey was completed over the High Lake gold property located near Kenora, Ontario, Canada.

The survey was completed by Rosor Exploration with a 25 metre flight line spacing, orthogonally transected by 250 metre tie lines, at an average magnetometer clearance of 45 metres. After micro-leveling, Rosor produced high quality derivative products as well as 3D unconstrained inversions of high magnetic features.

Results from the magnetic survey revealed intriguing structural and alteration features within corridors crossing the property. The products derived from the drone survey, together with recently completed satellite imagery are currently being used to revise geological interpretations and models in order to develop robust exploration targets to investigate in the upcoming field exploration campaign expected to begin early summer as well as the next drill program.

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Figure 1 High Lake property Regional Geology

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Figure 2 High Lake property Airborne Geophysics Total magnetic intensity reduced to the pole (RTP)

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Figure 3 High Lake property Airborne Geophysics First vertical derivative of the pole-reduced magnetic field (RTP1VD)

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Figure 4 High Lake property Airborne Geophysics Tilt (local phase) of the pole-reduced magnetic field (RTPTD)

High Lake Gold Property

The High Lake Property is located east of the Ontario-Manitoba border in northwestern Ontario, 45 km west of the City of Kenora. It lies immediately south the Trans-Canada Highway.

The High Lake Property consists of 20 mining leases, with surface and mining rights, and 21 mining claims, totaling 638.8 ha. The leases are 100% owned and registered to Total Metals. A previous owner, International Millenium Mining Corp. retains an interest in the mining leases as the original payor of the 2% NSR royalty to Celynn Alcock.

The Technical Report titled “Technical Report and Mineral Resource Estimate of the High Lake, Ontario and West Hawk Lake, Manitoba,” with an effective date of November 30, 2025 confirms the current mineral resource estimate (“MRE”) for the Purdex Zone at High Lake, independently prepared by P&E previously on June 30, 2023. 

The Technical Report is available on SEDAR+ ( www.sedarplus.ca) under the Company’s issuer profile.

The MRE (see table 1) has been classified in accordance with CIM Definition Standards on Mineral Resources and Mineral Reserves (CIM, 2014) and follows the CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines (CIM, 2019).

Table 1 – Purdex Zone Mineral Resource at 2.6 g/t Au cut-off

Technical Notes:

1. Metal prices used were US$1,800/oz Au and 0.77 C$/US$ FX with process recoveries of 95% Au. A C$40/t process cost and C$15/t G&A cost were used. 

2. The underground mining cost was C$130/t. The underground Mineral Resource grade blocks were quantified above the 2.6 g/t Au cut-off within the constraining mineralized wireframes. Underground Mineral Resources selected exhibited continuity and reasonable potential for extraction by the long hole underground mining method. 

3. Grade estimation was undertaken with the Inverse Distance Cubed method on 1.0 m capped composites. 

These Mineral Resources are not Mineral Reserves as they have not demonstrated economic viability. The quantity and grade of reported Inferred Mineral Resources in this news release are uncertain in nature and there has been insufficient exploration to define these Mineral Resources as Indicated or Measured; however, it is reasonably expected that most of the Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.

The mineralized zone on the Purdex Zone extends to surface and there may be an opportunity to mine these Mineral Resources early in a development project through an open pit. P&E has reviewed two potentially feasible pit options and subsets of the Mineral Resource that could be exploited through these options, which are outlined in Table 2 below.

Table 2 – Potential Open Pit Resource (Subsets of Mineral Resource in Table 1) at 1.0 g/t Au cut-off

Qualified Person

Robert Penczak, M.Sc., P.Geo (Ontario), Vice President of Exploration for the Company and a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical information used in this news release.

About Total Metals Corp.

Total Metals Corp. is evaluating its 100% owned Electrolode Project covering over 3,300 contiguous hectares in northwestern Ontario. The Electrolode Project is targeting high-potential critical mineral plus gold resources and targets in three favorable geologic trends, located near major mines in the Red Lake Gold camp and is strategically located between Kinross Gold’s Great Bear Project and First Mining Gold’s Springpole Project. The Electrolode Project is fully permitted for exploration drilling and hosts 10 historic mineralized zones with significant expansion potential plus new, untested targets ready for further exploration. Total Metals also owns 100% of the High Lake and West Hawk Lake Project covering 958 hectares in two gold properties located along the Trans-Canada Highway straddling the Manitoba / Ontario border. The Purex Zone on the High Lake property has significant exploration potential and will be the primary target for initial exploration and potential future mining activities. The West Hawk Lake property is comprised of a single mineral lease, located within southeastern Manitoba.  The Company has an option on the Menary gold property, strategically located in the Kenora Mining Division of Ontario, sharing a common southern boundary with the Rainy River claims being acquired by Coeur Mining, Inc. ("Coeur") following its ~US$7 billion acquisition of New Gold Inc. The most recent addition to the Company is the Pick Lake property, consisting of 75 claims and a mining lease covering over 5,260 hectares, accessible via a road connected to the Trans-Canada Highway to the south. The Pick Lake critical minerals deposit has an average strike length of approximately 250m and a depth extension tested between 300 to 1200m.

www.totalmetalscorp.com

Cautionary Statements

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in its policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release.

Tyler Thorburn

President and Chief Executive Officer

info@totalmetalscorp.com

(416) 873-7662

Forward-Looking Information

This press release includes “forward-looking information” that is subject to assumptions, risks and uncertainties, many of which are beyond the control of the Company. Statements in this news release which are not purely historical are forward looking.  Although the Company believes that any forward-looking statements in this news release are reasonable, there can be no assurance that any such forward-looking statements will prove to be accurate. The Company cautions readers that all forward-looking statements, are based on assumptions none of which can be assured and are subject to certain risks and uncertainties that could cause actual events or results to differ materially from those indicated in the forward-looking statements. Such forward-looking statements represent management’s best judgment based on information currently available. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward-looking statements.

The forward-looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the TSX-V. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

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