Metals Creek Receives 1st Anniversary Payment for the Yellow Fox Property from Lomiko Metals and Adds Claims to Agreement

Rhea-AI Summary

Metals Creek (MCREF) received the first-anniversary cash payment of $23,125 and 889,423 Lomiko shares at a deemed price of $0.13 per share, subject to exchange approval. Lomiko paid a finder fee of $1,875 plus 72,115 shares.

The Yellow Fox Property was expanded by two amendments and now totals 109 claim units (2,725 hectares). Recent re-run soil assays returned TREE 1,683–5,176 ppm with strong Nd, Pr and elevated Dy anomalies, indicating a promising REE soil footprint that warrants follow-up work.

Positive

• Received $23,125 cash and 889,423 Lomiko shares (deemed $0.13) as first-anniversary payment
• Property expansion to 109 claim units totaling 2,725 hectares
• REE soil anomalies with TREE values from 1,683 to 5,176 ppm and elevated Nd/Pr/Dy

Negative

• No standards or blanks were added to the batch of seven re-run REE samples, limiting QA/QC for that batch
• Surface and grab sample results are selective and may not indicate underlying mineralization

Thunder Bay, Ontario--(Newsfile Corp. - February 10, 2026) - Metals Creek Resources Corp. (TSXV: MEK) (FSE: M1C1) (the "Company" or Metals Creek) is pleased to announce that further to its agreement with Lomiko Metals Inc. ("Lomiko") (see news release dated 22 January 2025) in regards to the Yellow Fox Property, the Company will be receiving the first anniversary payment of $23,125 and 889,423 shares of Lomiko Metals Inc. at a deemed price of $0.13 per share subject exchange approval. Lomiko has also paid the first-anniversary payment to the finder of $1,875 and 72,115 shares at a deemed price of $0.13 per share, subject to exchange approval.

In addition, the Company announces that it has signed two amendments with regards to extra claims being staked and added to the original property size.

The first amendment dated 30^th April, 2025, increased the land package to include 30 additional units in Block 039252M for a total of 58 claims spanning 1,446 hectares; and

The second amendment dated 29^th January, 2026, further increased the land package to include 51 additional units in the Block 040194M (43 units) and Block 040195M (8 units) for a total of 109 units spanning 2,725 hectares

The Yellow Fox Property is now comprised of 109 claim units in 5 licenses spanning 2,725 hectares. (see figure 1 below)

The Yellow Fox Property is located approximately 10 km southwest of the Town of Glenwood Newfoundland, and south of the Trans-Canada Highway. The Property occurs within NTS map sheets 02D/14 and 15 with excellent access along several logging and skidder roads originating from Glenwood. The main Yellow Fox showing is located in the central part of License 027536M, 5km from the western end of Gander Lake. The property is centered at approximately UTM (NAD 27) grid coordinates are 5,419,400m North and 645,300m East.

Figure 1: Yellow Fox Property

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Figure 2: Yellow Fox and Adjacent Properties

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Definitive Agreement terms

Lomiko can acquire 100% of Metals Creeks's interest in all mineral rights forming part of the Property in consideration of:

Terms of Option

(a) The Optionee shall have the right to acquire 100% of the right, title and interest in and to the Option Interests with Metals Creek retaining a 2% NSR by making the following payments:

(b) (i) in cash totaling $64,750, according to the following schedule:

1. on the Closing Date, $18,500; (Paid)

2. on or before first anniversary of this Agreement, $23,125; (Paid)

3. on or before second anniversary of this Agreement, $23,125; and

(c) (ii) in common shares of the Optionee (the "LMR Shares") totaling $328,375, at a price per LMR Share equal to the Market Price (as such term is defined in the TSX Venture Exchange Corporate Finance Manual) on the date of the signature of this Agreement according to the following schedule:

1. on the Closing Date, $50,875 payable in LMR Shares; (Paid)

2. on or before first anniversary of this Agreement, $115,625 payable in LMR Shares; (Paid) and

3. on or before second anniversary of this Agreement, $161,875 payable in LMR Shares.

Yellow Fox is an early-stage exploration property prospective in antimony, Zinc, Lead, gold, silver and more recently REE's. Historic work has returned samples anomalous in gold (Au), antimony (Sb), lead (Pb), zinc (Zn), gold (Au), and silver (Ag) which included trenching which exposed bedrock. Results included grab samples up to 59.43g/t Au, 11.10% Sb, 7.00% Zn, 72.90g/t Ag, and 5.50% Pb in arsenopyrite-stibnite veins within altered monzogranite. (See Metals Creek assessment report https://gis.geosurv.gov.nl.ca/geofilePDFS/Batch2016/002D_0779.pdf

In a news release dated 14 January 2026, Lomiko announced assay results (See Table 1) regarding additional REE analysis from the recently completed Phase II soil sampling and prospecting program (See News Release September 23, 2025) on the Yellow Fox Antimony property.

Highlights:

• 7 soil samples were re-run for the Rare Earth Elements ("REE") specific test package for assays outlining the cerium anomaly and to check for other REE elements, including neodymium, praseodymium, gallium etc.
• Soil samples assaying from 1697ppm to 5176 ppm or (0.52%) REEs.
• NEW potential rare earth discovery.
• Highly anomalous LREEs Neodymium (Nd) from 186 to 890ppm and Praseodymium (Pr) at 46-192ppm, which are instrumental in the manufacturing of magnets.
• Elevated dysprosium (Dy) at 36 - 191ppm is also present.
• Identification of multiple highly anomalous REE soil anomalies (See Figure 3).
• REEs hosted within Mount Peyton monzogranite.
• REE anomalies roughly parallel to previously outlined Sb-Zn-Pb-Ag critical metal anomalies.

Assay results for these seven soil samples indicated highly anomalous assays for both light rare earth elements (LREE) and heavy rare earth elements (HREE) (See Table 1). These new soil results indicate a strong potentially geologically significant REE soil anomaly, highlighting a fertile monzogranite. This anomaly exhibits strong LREE enrichment (La-Ce-Pr-Nd-Eu) accompanied by highly elevated HREE (Dy-Tb-Y), potentially indicating a mixed LREE and HREE mineralized system. TREE (Total Rare Earth Element) values range from 1,683 ppm to 5,176 ppm. Initial soil samples in this range for TREE are highly promising and warrant follow-up exploration work. Of particular interest in these results is the highly anomalous LREEs Neodymium (Nd) and Praseodymium (Pr), which are instrumental in the manufacturing of magnets. Elevated dysprosium (Dy) is also present, which is a HREE and enables magnets to perform at high temperatures. Thorium, which is often seen as a pathfinder for REE, is also present in elevated numbers.

Table 1 -Re-Run Soil Samples with Rare Earth Assay Package

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Figure 3 - Yellow Fox REE Anomalies

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Please note that the results on an adjacent or nearby property (Beaver Brook) are not necessarily what can be expected on the Yellow Fox project and that the results of surface or grab samples, by their nature, this type of sample is selective and that the assay results may not be indicative of underlying mineralization.

Qualified Person for technical content at Yellow Fox

The technical information in this press release has been prepared and approved by Gordana Slepcev, P.Eng, who is registered in Ontario as a qualified person as defined by NI 43-101 guidelines. QP relied on the information provided by Metals Creek. Metals Creek QP is Wayne Reid, P.Geo. is registered in Newfoundland.

All 851 initial soil samples from this past summer's programs were dried and then sent to Eastern Analytical Ltd., located in Springdale, Newfoundland, Canada. Samples are analyzed by the ICP34 method that delivers a 34-element package and analyzed by the ICP-OES analytical technique with blanks and standards inserted every 20-25 samples. The 7 samples in this press release were sent to Bureau Veritas, located in Vancouver, British Columbia, Canada. Samples are analyzed by ICP-OES utilizing a multi-acid digestion analytical technique. No standards or blanks were added to this batch of 7 samples.

About Metals Creek Resources Corp.

Metals Creek Resources Corp. is a junior exploration company incorporated under the laws of the Province of Ontario, is a reporting issuer in Alberta, British Columbia and Ontario, and has its common shares listed for trading on the Exchange under the symbol "MEK". Metals Creek has earned a 50% interest in the Ogden Gold Property, including the former Naybob Gold mine, located 6 km south of Timmins, Ontario and has an 8 km strike length of the prolific Porcupine-Destor Fault (P-DF).

Metals Creek also has multiple quality projects available for option which can be viewed on the Company's website. Parties interested in seeking more information about properties available for option can contact the Company at the number below.

Additional information concerning the Company is contained in documents filed by the Company with securities regulators, available under its profile at www.sedarplus.ca.

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.

Alexander (Sandy) Stares, President and CEO
709-424-1141
Metals Creek Resources Corp
MetalsCreek.com
Twitter.com/MetalsCreekRes

Facebook.com/MetalsCreek

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/283312

FAQ

What did Metals Creek (MCREF) receive from Lomiko on the Yellow Fox first anniversary?

Metals Creek received $23,125 cash and 889,423 Lomiko shares at a deemed $0.13 per share. According to Metals Creek, the payment is part of the option schedule and remains subject to TSX Venture Exchange approval for share issuance.

How large is the Yellow Fox Property after Metals Creek's recent amendments (MCREF)?

The Yellow Fox Property now comprises 109 claim units covering 2,725 hectares. According to Metals Creek, two amendments (April 30, 2025 and January 29, 2026) added 30 and 51 units respectively to expand the land package.

What do the recent REE soil assay results mean for Yellow Fox (MCREF)?

Re-run assays show TREE from 1,683 to 5,176 ppm with strong Nd, Pr and elevated Dy anomalies. According to Metals Creek, these results indicate a significant REE soil anomaly and justify follow-up exploration work on the fertile monzogranite.

Are there outstanding payments or shares remaining under the Lomiko option for Yellow Fox (MCREF)?

Yes. Remaining option obligations include a second-anniversary cash payment of $23,125 and further Lomiko share payments totalling $161,875 payable in LMR shares. According to Metals Creek, earlier schedule payments and initial share payments were already made.

Does Metals Creek retain any royalty on the Yellow Fox Property after the option?

Metals Creek will retain a 2% NSR on the optioned mineral rights if Lomiko completes the acquisition. According to Metals Creek, this net smelter royalty remains part of the definitive agreement terms.

How reliable are the reported REE assay results for Yellow Fox (MCREF)?

The results are encouraging but preliminary: seven re-run samples lacked inserted standards/blanks in that batch. According to Metals Creek, all initial 851 soil samples had standard QA/QC, but this specific seven-sample batch used Bureau Veritas protocols without added blanks.