Meryllion Resources, Drilling Underway at Tasmanian IAC REE Project

Rhea-AI Summary

Meryllion Resources (OTC: MYRLF) has started drilling at its ionic adsorption clay (IAC) rare earths project in northeastern Tasmania on February 19, 2026. The company holds an 800 km2 tenement package and will conduct a reconnaissance open-hole RAB program totalling ~400m in wide-spaced vertical holes averaging 6m depth.

Previous sampling returned up to 3,505.3 ppm TREE, including high dysprosium (163.0–276.6 ppm Dy2O3) and terbium (26.11–43.28 ppm Tb4O7); results are expected within 60 days. Permitting for the Makenzie Nevada project is planned in Q1 2026.

Positive

• Tenement area of 800 km2 prospective for IAC rare earths
• Previous outcrop sampling up to 3,505.3 ppm TREE
• High-grade dysprosium reported at 163.0–276.6 ppm Dy2O3
• Reconnaissance drilling program of ~400m using open-hole RAB
• Company expects laboratory results within 60 days
• Permitting for Makenzie, Nevada planned in Q1 2026

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - February 19, 2026) - Meryllion Resources Corporation (CSE: MYR) ("Meryllion" or the "Company") is pleased to announce that drilling commenced on schedule earlier this week at its ionic adsorption clay (IAC) hosted rare earths (REE) project in northeastern Tasmania, Australia.

Meryllion holds a large, 800 km², tenement package that is prospective for IAC hosted REEs.

Previous sampling by Meryllion (see the Company's press release of May 21, 2024) reported sampling grades up to 3,500 ppm TREE (total rare earth elements in the range 2,395.5 – 3,505.3ppm), including high-grade dysprosium (Dy - Dy₂O₃ = 163.0 to 276.6ppm) and terbium (Tb - Tb₄O₇ = 26.11 to 43.28ppm) from outcrop sampling at Westbury coupled with low levels of radioactive elements (thorium and Uranium - none detected).

The drilling program has been designed to follow up these prospective sampling results through an investigative reconnaissance open-hole RAB drilling program.

Meryllion will be drilling approximately 400m in wide spaced reconnaissance type vertical holes to an expected average of 6m deep using open-hole RAB techniques.

Samples will be taken at 1m intervals from surface and sent to the ALS Chemex laboratory in Burnie, Tasmania for prepping and to the South Australia facility for XRF analysis.

Meryllion CEO, Richard Revelins, commented: "We are very pleased to get out onto our ground and start drilling. We are highly encouraged by the results that have been reported by our immediate neighbors, ABx Group. The nature of IAC REE deposits is they tend to occur near surface and are generally shallow in nature. The drilling program is designed to cover as much ground as possible over a number of defined target areas. We anticipate having results available within the next 60 days."

The Company is also planning to initiate the permitting process, in Q1 2026, in order to enable drilling at the Makenzie project in Nye County, Nevada, one of the largest untested antimony, gold, silver projects in Nevada to proceed.

Qualified Person:

Mark J. Pryor, SACNASP, is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects and has reviewed and approved the scientific and technical disclosure set out in this news release. Mr. Pryor is an independent advisor to the Company.

About Meryllion Resources Corporation:

Meryllion is an exploration stage company listed on the Canadian Securities Exchange. The Company recently entered into a lease and option agreement in respect of the Makenzie antimony/gold/silver project located 44 kms south southwest of Austin, Nevada in the Toiyabe Range of central Nevada. Makenzie is one of the largest known untested gold, silver and antimony anomalies in the state of Nevada.

Meryllion also has the rights to acquire up to a 100% interest in the Westbury and Tasmanian Strategic Green Metals ionic adsorption clay (IAC) hosted rare earth elements (REE) projects located in northeast Tasmania, Australia with a total tenement area of approximately 800 kms². Meryllion's IAC REE projects are situated along strike, and/or adjacent to, discoveries by ABx Group Limited. ABx has reported that Tb (Terbium) and Dy (Dysprosium) concentrations in all of ABx's rare earths resources are the highest of any ionic adsorption clay deposit in Australia and are amongst the highest globally (refer ABx ASX announcement dated 5 May 2025).

For Further Information please contact:

Richard Revelins
Chief Executive Officer
rrevelins@peregrinecorporate.com
+1-310-405-4475

Forward-Looking Statements:

Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/284371

FAQ

What drilling did Meryllion (MYRLF) start at the Tasmanian IAC REE project on February 19, 2026?

Meryllion commenced a reconnaissance open-hole RAB drilling program of ~400m in wide-spaced vertical holes averaging 6m depth. According to the company, samples will be taken at 1m intervals and sent to ALS Chemex for analysis.

What were the best historical sampling grades reported by Meryllion at the Tasmania project (MYRLF)?

Previous outcrop sampling returned up to 3,505.3 ppm TREE, with dysprosium at 163.0–276.6 ppm Dy2O3 and terbium at 26.11–43.28 ppm Tb4O7. According to the company, sampling also showed low or no detectable thorium and uranium.

When does Meryllion (MYRLF) expect results from the Tasmania drilling program?

The company anticipates having drilling results available within 60 days of program start. According to the company, samples will be prepared in Burnie, Tasmania and undergo XRF analysis at the South Australia facility.

How large is Meryllion's tenement package at the Tasmanian IAC REE project (MYRLF)?

Meryllion holds a contiguous tenement package of approximately 800 km2 in northeastern Tasmania. According to the company, the ground is considered prospective for near-surface ionic adsorption clay hosted rare earth deposits.

What other project permitting is Meryllion (MYRLF) planning in Q1 2026?

Meryllion plans to initiate permitting in Q1 2026 to enable drilling at the Makenzie project in Nye County, Nevada. According to the company, Makenzie is described as a large, untested antimony, gold and silver project in Nevada.