Miata Adds Additional Drill Rig and Increases Discovery Potential with Fully Funded 25,000 m Drill Program at the Sela Creek Gold Project

Rhea-AI Summary

Miata Metals (OTCQB: MMETF) has added a Sandvik 710 tracked drill rig at its Sela Creek gold project in Suriname and announced a fully funded 25,000 m drill program for 2026. The company completed 10,061 m across 59 holes in 2025 and reported a 100% hit rate at the Jons Trend, which is emerging as a 750 x 250 m mineralized zone that remains open in all directions. Approximately 50% of 2026 drilling will target Jons Trend, with the balance testing six discovery targets including Puma East (5.3 m at 8.25 g/t), Puma West (18 m at 2.70 g/t) and Big Berg (14 m at 1.72 g/t). Operational upgrades (prep lab, access, fuel storage) are expected to lower cost per metre. Insiders exercised 1,300,000 options at $0.23 per share to acquire shares.

Positive

• 25,000 m fully funded 2026 drill program
• 10,061 m completed in 2025 across 59 holes
• 100% hit rate at Jons Trend in 2025 drilling
• New Sandvik 710 tracked rig added to enable two rigs
• Jons Trend identified as 750 x 250 m zone, open in all directions

Negative

• Assay results for 12 drillholes (Jons Trend and Golden Hand) remain pending
• Work to date covers only 5 km of a 14 km artisanal corridor, leaving large areas untested

VANCOUVER, British Columbia, Dec. 18, 2025 (GLOBE NEWSWIRE) -- Miata Metals Corp. (CSE: MMET) (FSE: 8NQ) (OTCQB: MMETF) (“Miata” or the “Company”) is pleased to announce the arrival of an additional drill rig at its Sela Creek Gold Project (“Sela Creek” or the “Project”) in Suriname, enabling a fully funded 25,000 m drill program planned for 2026. The expanded program builds on a highly successful 2025 campaign, during which Miata completed 10,061 m of drilling, achieved a 100 percent hit rate at the Jons Trend Zone, identified multiple new mineralized zones, and significantly increased operational efficiency across the project.

Highlights

• Miata achieved a 100% hit rate across drilling at Jons Trend
• 10,061 m drilled in 2025 across 59 holes
• Assay results for six drillholes at Jons Trend and six drillholes at Golden Hand remain pending
• Targeting 25,000 m of drilling in 2026, with approximately 50% focused on Jons Trend and the other 50% dedicated toward six compelling discovery targets such as Puma East (5.3m at 8.25 g/t gold), Big Berg (14 m at 1.72 g/t gold), and Puma West (18m at 2.70 g/t gold)
• New Sandvik 710 track-mounted diamond rig has arrived on site, allowing two rigs to operate throughout 2026
• On-site optimization continues with the construction of a prep lab, improved wet-season access and expanded fuel storage, all of which will further reduce the cost per metre drilled on Sela Creek

“Our 2025 exploration program proved a major turning point for Miata’s discovery strength and operational efficiency, positioning us to scale aggressively in 2026,” stated Dr. Jacob Verbaas, CEO. “Since our first intercepts at Jons Trend, our drilling hit rate has remained at 100 % for that target, reinforcing strong geological continuity and supporting the potential scale of this emerging mineralized system. With a second track-mounted diamond drill rig on site and a fully funded 25,000 m program planned for 2026, we are positioned for our most active year of discovery and value creation to date. We expect to further grow the Jons Trend zone, which remains open in all directions, while simultaneously engaging in systematic discovery drilling across a minimum of six high-priority targets including Puma East and Puma West. This dual strategy of delineation and discovery gives us multiple pathways to unlock significant value at Sela Creek, where our work to date covers just 5km of a 14km artisanal mining corridor that remains largely untested and highly prospective.”

Additional Drill Rig Arrives on Sela Creek

The Company has deployed a third drill rig to Sela Creek, and expects to run two rigs continuously for the majority of 2026 while having a third available for optionality. With the two drill rigs, Miata expects to be able to comfortably drill 25,000 m in 2026. The Company can operate through both the dry and wet seasons. The recently arrived rig is a Sandvik 710, a tracked drill rig with a depth capacity of over 1,000 m. The Company works closely with Major Drilling, a reputable international Canadian drill-contractor with a branch of operations established in Suriname.

Accelerated Discovery Drill Program

Miata has completed an extensive surface program including measuring artisanal activity and the reinterpretation of historical geochemical and geophysical datasets, resulting in six prospects (figure 1) being advanced to drill-ready status for the first half of 2026. These prospects represent some of the most compelling targets on Sela Creek:

• Puma East:5.3 m at 8.25 g/t gold from 37.7 m
• Puma West:18m at 2.70 g/t gold from 5.60 m
• Big Berg: 14 m at 1.72 g/t gold from 164 m
• Howler, Stranger and Golden Hand, where drill targets are defined based on early-stage exploration work

Figure 1. Prospect areas on Sela Creek as re-defined by Miata’s technical team, provide clear direction for the discovery drilling in 2026.

These prospects will be drill-tested in parallel with a continued surface program to define further discovery drill targets. While this discovery program is ongoing, the Company will continue to delineate Jons Trend, which is emerging as a 750 x 250 m mineralized zone and remains open in all directions. The Company’s discovery at Jon’s Trend was a major de-risking event in 2025, with potential expansion of that zone being another catalyst for 2026.

The Company has completed 10,061 m of drilling, of which 3,000m was completed in the last two months of drilling. This indicates the efficiency of the program has increased substantially from the start of drilling in March, a trend that Miata intends to continue over the course of its fully funded 25,000 m drill program.

All drill results are available through this link. 

Exercise of Expiring Stock Options

Miata is pleased to announce the exercise of 1,300,000 incentive stock options with an exercise price of $0.23 per common share and expiring on December 19, 2025. A total of 400,000 common shares were sold by directors and senior management (the “Insiders”) in a pre-arranged trade using the facilities of the Canadian Securities Exchange, to partially cover the aggregate exercise costs. The participating Insiders retain the substantial net shares acquired, maintaining strong alignment with shareholders and demonstrating continued confidence in the Company's gold exploration prospects in Suriname. There is no intention of further dispositions by Insiders. Details of the transactions will be filed on SEDI.

QAQC

Samples were analyzed at FILAB Suriname, a commercial certified laboratory under ISO 9001:2015. Samples are crushed and pulverized to 85% passing 88 µm prior to analysis using a 50 g fire assay (50 g aliquot) with an Atomic Absorption (AA) finish. For samples that return assay values over 5.0 grams per tonne (g/t), another cut was taken from the original pulp and fire assayed with a gravimetric finish. Miata Metals inserts certified reference standards, as well as blanks and ¼ core duplicates in the sample sequence for quality control and assurance.

QP Statement

The scientific and technical information in this news release has been reviewed and approved by Dr. Jacob Verbaas, P.Geo., a director of the Company and Qualified Person as defined under the definitions of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Miata Metals Corp.

Miata Metals Corp. (CSE: MMET) is a Canadian mineral exploration company listed on the Canadian Securities Exchange, as well as the OTCQB (OTCQB: MMETF) and Frankfurt (FSE: 8NQ) Exchanges. The Company is focused on the acquisition, exploration, and development of mineral properties. The Company holds a 70% interest in the ~215km² Sela Creek Gold Project with an option to acquire a full 100% interest in the Project, and a 70% beneficial interest in the Nassau Gold Project with an option to acquire 100%. Both exploration properties are located in the greenstone belt of Suriname.

On Behalf of the Board

Dr. Jacob (Jaap) Verbaas, P.Geo | CEO and Director
info@miatametals.com
+1 778 488 9754

Forward-Looking Statements

Certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “anticipates”, “anticipated”, “expected”, “intends”, “will” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are from those expressed or implied by such forward-looking statements or forward-looking information subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different, including receipt of all necessary regulatory approvals. Although management of the Company have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4f896275-f747-427b-abd1-4090fd56039b

FAQ

What does Miata's fully funded 25,000 m 2026 drill program mean for MMETF shareholders?

It funds an accelerated exploration campaign to expand Jons Trend and test six discovery targets, increasing near-term discovery potential.

How many drill rigs will Miata operate at Sela Creek in 2026 for MMETF?

Miata has deployed a third rig but expects to run two rigs continuously for most of 2026, with a third for optionality.

What were Miata's 2025 drilling results that support the 2026 program for MMETF?

Miata completed 10,061 m in 2025 with a reported 100% hit rate at Jons Trend and identified multiple new mineralized zones.

Which priority targets will MMETF test during the 2026 program?

About 50% of drilling targets Jons Trend and the remainder targets six prospects including Puma East, Puma West and Big Berg.

Are there pending assay results investors should watch for MMETF?

Yes, assay results for six holes at Jons Trend and six holes at Golden Hand are pending and could affect near-term news flow.

What insider activity occurred related to MMETF on December 18, 2025?

Insiders exercised 1,300,000 incentive options at $0.23 per share, with 400,000 shares sold by insiders to cover exercise costs.