Eastport Critical Metals Announces Nakalakwana Phase 1 Drilling Complete at Matsitama Copper Project

14:00 Uhr  |  Newsfile

Vancouver, May 1, 2026 - Eastport Critical Metals Corp. (TSXV: EVI) (OTCQB: EVIIF) ("Eastport" or the "Company") is pleased to announce the successful completion of Phase 1 of the 2025/26 multi-phase diamond drill program at the resource definition stage Nakalakwana Hill copper deposit ("NAK"), one of eight targets comprising the Company's flagship Matsitama Copper Project in northeast Botswana. NAK is an advanced-stage copper opportunity located approximately 90 km south of the operating Kopano Copper Mine (formerly Mowana). NAK lies within one of the Company's six contiguous Prospecting Licences that directly abuts the Kopano Mining Licence boundary (see Figure 1).

NAK-Highlights:

• Resource Infill Drilling on NAK Main: Completed tighter-spaced infill drilling on the NAK Main zone to update and restate the most recent historical resource estimate in compliance with NI 43-101. The non-current SRK Consulting (South Africa) 2013 Nakalakwana Hill Mineral Resource estimate stated Indicated Mineral Resources of 6.8 Mt at 0.48% Cu and Inferred Mineral Resources of 3.1 Mt at 0.43% Cu within an open-pit shell at 0.3% Cu cut-off grade, in compliance with the South African Code for the Reporting of Exploration Results, Mineral Resources and Mineral Reserves (the SAMREC Code, 2007 edition).¹

• Step-Out Exploration on Strike: Targeted step-out and exploration drilling at NAK-West and NAK-East to chase extensions on both sides of the NAK Main zone resource. Historic holes within a few kilometres delivered thick, near-surface intervals of copper mineralisation occasionally with gold. Portable x-ray fluorescence spectrometer (pXRF) readings on core from the new drill holes are encouraging and point to strong continuity of mineralisation (Figure 2).

• Re-Interpretation Opportunity at Current Copper Prices: The SRK 2013 wireframe resource model contemplated a lower copper price than present (~US$2/lb versus today's ~US$5/lb), and the Company views a low-cost opportunity to potentially re-constrain additional tonnage within an updated envelope. An update on this opportunity is expected in Q3 2026.

• Assay Update and Lab Management: In order to expediate sample assay turn-around times the Company is utilising two accredited South Africa based assay laboratories along with the appropriate QA/QC procedures. In general, the Company's active projects are sending one or two sample shipments per week to the assay laboratories. Consistent receipt of results from the Company's diamond drilling activities (Table 1) is expected to commence in the coming weeks.

* Eastport cautions that the previous Nakalakwana Hill resource estimates are not current and are not accepted under NI 43-101 as they were stated under the superseded SAMREC 2007 reporting code (see discussion of "Historical Resource" below).

Figure 1: Location of the Matsitama Copper Project Licence Areas, and the Nakalakwana Hill (NAK) Deposit, Copper Cobra and Kopano South Prospect Areas in Relation to the Operating Kopano Copper Mine

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Figure Notes: Top map Nakalakwana Hill Deposit Selected Significant Copper Drill Intercepts. Bottom Map: Enlargement of the Main Deposit ("NAK Main") area showing mineralization trend open along strike to the east and west. Projection: UTM Zone 35s WGS 84 Datum.

Figure 2: Nakalakwana Hill Deposit Selected Significant Copper Drill Intercepts and Enlarged view of the Main Zone Historical Resource Area

Table 1: Total Diamond Drilling at NAK to date:

Burns Singh Tennent-Bhohi, CEO, commented:

"The Matsitama Copper Project is data-rich, with decades worth of prior exploration work that is contributing to our current and future project planning. The successful completion of the Phase 1 infill drilling program at the NAK deposit, is a key milestone in establishing a NI 43-101 compliant Mineral Resource for the established copper deposit which is supported by more than 22,000 metres of previous drilling and three historic SAMREC (2007) mineral resource estimates.

This drill program was designed to deliver on two critical vectors for Eastport: tighter-spaced infill drilling on the NAK Main zone to bring it into compliance with NI 43-101 standards for any future resource reporting; and second, targeted step-out exploration drilling both east and west of the Main zone, where historic holes had already returned thick intervals of copper mineralization with associated gold values.

These two verticals support our thesis that two or more shallow mineralized zones could form a consolidated model for future resource estimation as shown in the plan-view diagram (Figure 2), the East and West zones lie 6 and 4 kilometres respectively from the Main zone.

Our technical team's objective is to now gain better geological control along strike of the NAK Main zone, on the East and West zones, where we anticipate further drilling upon receipt of assay results. Our current objective is scale."

Proximity to the Operating Kopano Mine

Both NAK and Kopano sit in the same copper-endowed Matsitama Schist Belt an Archaean orogenic greenschist terrain hosting metasediments (carbonaceous argillaceous schists, carbonates, and altered sedimentary rocks) bounded by granitoids. NAK Main is characterised as a copper-rich, structurally controlled, steeply SW-dipping zone that remains open at depth. It features disseminated to veinlet sulphides with thick mineralized intervals confirmed in both historic and recent drilling. Historic resources were modelled as open-pit constrained giving NAK a solid, predictable foundation near to an operating mine.

Historical Resource

Eastport does not consider the 2013 SRK Consulting (South Africa) Pty Limited ("SRK") mineral resource as current. SRK was contracted by Matsitama Minerals (Pty) Ltd ("Matsitama") to undertake the update of the Mineral Resources for the Nakalakwana Hill copper deposit on the basis of data from 30 drillholes completed during 2012. Mineral Resources classified as Indicated and Inferred in accordance with the definitions and guidelines of the SAMREC Code 2007 edition were reported from the optimistic pit as shown in Table 2.¹

Table 2: Historical Mineral Resources for Nakalakwana based on the optimistic pit and a cut-off grade of 3000 ppm, SRK 2013

Table Note: Historical Resource stated in compliance with SAMREC 2007

In classifying the Mineral resources for Nakalakwana, SRK reviewed the drillhole data distribution, the consistency in the grade distributions, the QA/QC, the spatial continuity observed in the variograms and the quality of the estimates concomitant with the quantity of composites informing the estimates. SRK considered the relatively well informed areas with drillhole intersections within 50 m spacing and with demonstrated consistency in the grade distribution as Indicated Mineral Resources. The block estimates informed by data spaced more than 50 m apart were classified as Inferred Mineral Resources. The classification was consistent with the guidelines and definitions of The SAMREC Code (2007 edition), which has since been superseded.

For Cut-off grade optimisation SRK obtained realistic costs based on the Mowana pit operations from African Copper Plc and applied an escalation factor of 30% to the revenue factors and reduced the mining costs by 30 % for the optimistic scenario for reporting resources. The pit optimisation run based on this scenario indicated a cut-off grade of about 3 000 ppm Cu and a pit shell within which total mineral resources of 9.9 Mt at 4,640 ppm Cu were reported at the 3,000 ppm cut-off grade (Table 2).

The Qualified Person ("QP") considers the historical estimate to be relevant as an indication of the potential scale and grade of mineralization at Nakalakwana and as a basis for guiding future exploration and resource delineation programs. The estimate was prepared by a reputable independent consulting firm using industry-standard methodologies applicable at the time. However, its reliability is limited by the age of the data (2012 drilling), the relatively wide drill spacing in portions of the deposit, and the absence of verification work by the current QP. In addition, key economic and technical assumptions, including costs, recoveries, and metallurgical performance, have not been independently validated by the Company.

The Indicated and Inferred Mineral Resource categories reported under the SAMREC Code (2007) are broadly comparable to the Indicated and Inferred Mineral Resource categories as defined in the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Definition Standards adopted under NI 43-101, in that both classification systems are based on geological confidence and data quality. However, the historical estimate has not been prepared in accordance with CIM Definition Standards, including the explicit requirement to demonstrate reasonable prospects for eventual economic extraction ("RPEEE"), and therefore should not be relied upon as a current mineral resource.

Significant work is required to verify and upgrade the historical estimate to a current mineral resource compliant with NI 43-101. The Company would need to validate historical data and QA/QC, complete additional drilling, update geological modelling, undertake metallurgical work, and establish economic parameters supporting RPEEE.

The SRK 2013 Mineral Resource estimate is considered to be historical as it was reported in line with the 2007 Edition of the SAMREC Code which has subsequently been superseded by the 2016 Edion of the SAMREC Code. The SAMREC Code (2016) adopted the CRIRSCO (Committee for Mineral Reserves International Reporting Standards) standard definitions, bringing SAMREC 2016 into full alignment with the International Reporting Code Template and as an acceptable foreign code under NI 43-101. The Company intends to complete a CIM-compliant mineral resource estimate incorporating additional drilling and updated technical and economic assumptions. Neither the QP, the Company, nor its consultants have undertaken sufficient work to classify the historical estimate as current, and the Company is not treating the historical estimate as a current mineral resource.

Reference

1. SRK Consulting (South Africa) (Pty) Ltd Report titled: Mineral Resource update for the Nakalakwana Hill copper deposit Botswana, Reported Prepared for Matsitama Minerals (Pty) Ltd, Report Number 438430, dated 24 May 2013. Report Author: Senzeni Mandava, Resource Geologist. Site Visit & Report Reviewer (QP): Victor Simposya, Partner and Principal Geologist.

Qualified Person

The technical information in this news release has been reviewed and approved by Nicholas O'Reilly MIMMM (QMR) MAusIMM MSc DIC, an independent consultant and Qualified Person under National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

Eastport Critical Metals Corp: Project Location Map

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About Eastport Critical Metals Corp. (TSXV: EVI) (OTCQB: EVIIF)

Eastport is a critical minerals development company advancing five projects in Botswana, with cumulative historical and current expenditures approaching CAD$20 million. The Company's most advanced asset is the Matsitama Copper Project, which hosts multiple sizeable targets across the Matsitama copper district.

The Company's additional projects include Selebi East, a nickel-copper-cobalt project located seven kilometres east of the historic Selebi Mines; the Semarule Rare Earth Elements Project, positioned within the Gaborone-Molepolole corridor; the Foley Uranium Project, adjoining the Letlhakane uranium deposit; and the Keng Project, which targets nickel, copper and PGE's on the northern margin of the Molopo Farms Complex.

Botswana is widely regarded as one of Africa's strongest mining jurisdictions, combining the continent's highest GDP per capita with a 50-year track record of large-scale mineral development since the Orapa diamond discovery in 1967. The country ranks among the top performers globally on the Fraser Institute's Investment Attractiveness Index and is the highest-rated jurisdiction in Africa on the Policy Perception Index. These rankings reflect Botswana's stable regulatory environment, consistent rule of law, and long-standing support for responsible mineral development - factors that have underpinned significant investment and major M&A activity in the natural resources sector in recent years.

On behalf of the Board of Directors

"Burns Singh Tennent-Bhohi"

Burns Singh Tennent-Bhohi, CEO
Eastport Critical Metals Corp.

Disclaimer for Forward-Looking Information

This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things: the intended use of proceeds raised under the Offering; the Company delivering value to its shareholders through its critical metal's portfolio; the Company's exploration and development programs; the advancement of multi-asset drill campaigns across key critical metals and the timing thereof; and the receipt of final approval of the Offering from the TSXV.

These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: delays in obtaining or failure to obtain final approval from the TSXV for the Offering; fluctuations in commodity prices for critical metals, including copper, uranium and rare earth elements; the Company's ability to successfully execute its exploration and development programs; risks inherent in mineral exploration activities; the Company's ability to meet anticipated timelines for its multi-asset drill campaigns; operational risks and technical challenges associated with exploration activities in Botswana; and changes in the Company's business plans impacting the intended use of proceeds raised under the Offering.

In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, that: the Company will obtain the required regulatory approvals for the Offering; the Company's exploration and development programs will proceed as planned; commodity prices for critical metals will remain at levels sufficient to support continued exploration activities; the Company will continue to have access to the necessary permits, equipment and qualified personnel to conduct its exploration programs; the Company's critical metal's portfolio will continue to present viable opportunities for value creation; and the Company will use the proceeds of the Offering as currently anticipated. Although management of the Company has 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. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws.

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

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