Osisko Metals Incorporated (the ‘Company’ or ‘Osisko Metals’) (TSX: OM,OTC:OMZNF; OTCQX: OMZNF; FRANKFURT: 0B51) is pleased to announce new drill results from the Gaspé Copper Project, located in the Gaspé Peninsula of Eastern Québec.

New analytical results are presented below (see Table 1), including 35 mineralized intercepts from ten new drill holes. Infill intercepts are located inside the 2024 MRE model (see November 14, 2024 news release), and are focused on upgrading inferred mineral resources to measured or indicated categories, as applicable. Expansion intercepts are located outside the 2024 MRE model and may potentially lead to additional resources that will be classified appropriately within the next MRE update. Some of the reported intercepts have contiguous shallower infill as well as deeper expansion (noted on Table 1 below as ‘Both’). Maps showing hole locations are available at www.osiskometals.com.

Highlights:

• Drill hole 30-1144
  • 748.0 metres averaging 0.27% Cu (0.37% CuEq – infill and expansion)
• Drill hole 30-1146
  • 729.0 metres averaging 0.21% Cu (0.29% CuEq – infill and expansion)
• Drill hole 30-1142
  • 585.0 metres averaging 0.24% Cu (0.31% CuEq – infill and expansion)
  • 245.0 metres averaging 0.55% Cu (0.70% CuEq – expansion)
• Drill hole 30-1143 (Southern Extension)
  • 163.5 metres averaging 0.47% Cu (0.50% CuEq – expansion)
• Drill hole 30-1141
  • 171.5 metres averaging 0.42% Cu (0.46% CuEq – infill)
• Drill hole 30-0881 (historical re-assay)
  • 62.5 metres averaging 0.29% Cu (0.38% CuEq – expansion)
  • 421.8 metres averaging 0.28% Cu (0.39% CuEq – expansion)
• Drill hole 30-1135
  • 201.0 metres averaging 0.20% Cu (0.31% CuEq – expansion)

Table 1: Infill and Expansion Drilling Results

* See explanatory notes below on copper equivalent values and Quality Assurance/Quality Controls.
** ‘Both’ indicates drill holes that have contiguous shallower infill as well as deeper expansion intercepts.

Discussion

Drill hole 30-0881, located on the western margin of the Copper Mountain pit, was a historical hole that was re-analyzed from available core to include sections that had not been previously assayed. New results added three new significant mineralized intervals (expansion) including 62.5 metres averaging 0.29% Cu, 2.20 g/t Ag and 0.020% Mo, followed by 45.4 metres averaging 0.20% Cu and 1.67 g/t Ag and an additional 421.8 metres averaging 0.28% Cu, 1.24 g/t Ag and 0.026% Mo. The last portion of 144.4 metres of the latter intersection confirmed previously reported results, and this historical hole will now constitute a depth expansion in the upcoming MRE update.

Drill holes 30-1132 and 30-1137, located near the eastern margin of the 2024 MRE model, cut multiple intersections of mineralization, 15 to 125 metres thick and distributed in ‘layer cake’ fashion from surface, including 125.2 metres averaging 0.20% Cu, 1.25 g/t Ag and 0.009% Mo (expansion in 30-1137), extending mineralization in this area to vertical depths of 783 and 851 metres, respectively.

Drill hole 30-1135, located in the south-central portion of the 2024 MRE model, cut multiple intersections of mineralization, 26 to 201 metres thick and distributed in ‘layer cake’ fashion from surface, including a deeper intersection of 201.0 metres averaging 0.20% Cu, 1.59 g/t Ag and 0.026% Mo (expansion), extending mineralization in this area to a vertical depth of 729 metres.

Drill hole 30-1141, located on top of Copper Mountain near the centre of the 2024 MRE model and inclined 61 degrees to the north, cut 171.5 metres averaging 0.42% Cu and 3.12 g/t Ag (infill) as well as multiple short 10 to 28 metre intersections to a depth of 695 metres.

Drill hole 30-1142, located near the southwestern lip of the Copper Mountain open pit, cut one mineralized interval of 585.0 metres averaging 0.24% Cu, 0.96 g/t Ag and 0.017% Mo (infill and expansion), followed by 245.0 metres averaging 0.55% Cu, 2.25 g/t Ag and 0.035% Mo (expansion). This hole confirmed mineralization in this area to a vertical depth of 1006 metres.

Drill hole 30-1143, located 50 metres south of the southern margin of the 2024 MRE model in the Southern Extension Zone, cut 163.5 metres averaging 0.47% Cu and 3.41 g/t Ag followed by 48.0 metres averaging 0.67% Cu and 6.15 g/t Ag, once again confirming the higher copper and silver grades of mineralization in this zone.

Drill hole 30-1144, located on the western flank of Copper Mountain and inclined 67 degrees to the north, cut two mineralized intervals including 40.0 metres averaging 0.23% Cu and 1.70 g/t Ag (infill) followed by 748.0 metres averaging 0.27% Cu, 1.84 g/t Ag and 0.023% Mo (infill and expansion), extending mineralization in this area to a vertical depth of 895 metres.

Drill hole 30-1145, located between holes 30-1135 and 30-1137, cut five intersections of mineralization, 28 to 57 metres thick and distributed in ‘layer cake’ fashion from surface to a depth of 462 metres (all infill), followed by 149.3 metres averaging 0.15% Cu, 1.11 g/t Ag and 0.016% Mo (expansion) and 52.3 metres averaging 0.18% Cu, 1.24 g/t Ag and 0.024% Mo (expansion), extending mineralization in this area to a vertical depth of 770 metres.

Drill hole 30-1146, located on top of Copper Mountain near the centre of the 2024 MRE, cut 192.0 metres averaging 0.31% Cu and 2.36 g/t Ag (infill) followed by 135.0 metres averaging 0.13% Cu, 1.02 g/t Ag and 0.014% Mo (infill) and then 729.0 metres averaging 0.21% Cu, 1.48 g/t Ag and 0.019% Mo (infill and expansion), extending mineralization in this area to a vertical depth of 1152 metres.

Mineralization at Gaspé Copper is of porphyry copper/skarn type and occurs as disseminations and stockworks of chalcopyrite with pyrite or pyrrhotite and minor bornite and molybdenite. One prograde and at least five retrograde vein/stockwork mineralizing events have been recognized at Copper Mountain, which overprint earlier, bedding replacement skarn and porcellanite-hosted mineralization throughout the Gaspé Copper system. Porcellanite is a historical mining term used to describe bleached, pale green to white potassic-altered hornfels. Subvertical stockwork mineralization dominates at Copper Mountain whereas prograde bedding-parallel mineralization, which is mostly stratigraphically controlled, dominates in the area of lower Copper Mountain, Needle Mountain, Needle East, and Copper Brook. High molybdenum grades (up to 0.5% Mo) were locally obtained in both the C Zone and E Zone skarns away from Copper Mountain.

The 2022 to 2024 Osisko Metals drill programs were focused on defining open-pit resources within the Copper Mountain stockwork mineralization (see May 6, 2024 MRE press release). Extending the resource model south of Copper Mountain into the poorly-drilled prograde skarn/porcellanite portion of the system subsequently led to a significantly increased resource, mostly in the Inferred category (see November 14, 2024 MRE press release).

The current drill program is designed to convert the November 2024 MRE to Measured and Indicated categories, as well as test the expansion of the system deeper into the stratigraphy and laterally to the south and southwest towards Needle East and Needle Mountain respectively. The November 2024 MRE was limited at depth to the base of the L1 skarn horizon (C Zone), and all mineralized intersections below this horizon represent potential depth extensions to the deposit, to be included in the next scheduled MRE update in Q1 2026.

Most holes are being drilled sub-vertically into the altered calcareous stratigraphy that dips 20 to 25 degrees to the north. The L1 (C Zone) the L2 (E Zone) skarn/marble horizons were intersected in most holes, as well as intervening porcellanites that host the bulk of the disseminated copper mineralization.

Table 2: Drill hole locations

Explanatory note regarding copper-equivalent grades

Copper Equivalent grades are expressed for purposes of simplicity and are calculated taking into account: 1) metal grades; 2) estimated long-term prices of metals: US$4.25/lb copper, $20.00/lb molybdenum, and US$24/oz silver; 3) estimated recoveries of 92%, 70%, and 70% for Cu, Mo, and Ag respectively; and 4) net smelter return value of metals as percentage of the price, estimated at 86.5%, 90.7%, and 75.0% for Cu, Mo, and Ag respectively.

Qualified Person

The scientific and technical content of this news release has been reviewed and approved by Mr. Bernard-Olivier Martel, P. Geo. (OGQ 492), an independent ‘qualified person’ as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (‘NI 43-101’).

Quality Assurance / Quality Control

Mineralized intervals reported herein are calculated using an average 0.12% CuEq lower cut-off over contiguous 20-metre intersections (shorter intervals as the case may be at the upper and lower limits of reported intervals). Intervals of 10 metres or less are not reported unless indicating significantly higher grades. True widths are estimated at 90 – 92% of the reported core length intervals.

Osisko Metals adheres to a strict QA/QC program for core handling, sampling, sample transportation and analyses, including insertion of blanks and standards in the sample stream. Drill core is drilled in HQ or NQ diameter and securely transported to its core processing facility on site, where it is logged, cut and sampled. Samples selected for assay are sealed and shipped to ALS Canada Ltd.’s preparation facility in Sudbury. Sample preparation details (code PREP-31DH) are available on the ALS Canada website. Pulps are analyzed at the ALS Canada Ltd. facility in North Vancouver, BC. All samples are analyzed by four acid digestion followed by both ICP-AES and ICP-MS for Cu, Mo and Ag.

About Osisko Metals

Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals sector, with a focus on copper and zinc. The Company acquired a 100% interest in the past-producing Gaspé Copper mine from Glencore Canada Corporation in July 2023. The Gaspé Copper mine is located near Murdochville in Québec‘s Gaspé Peninsula. The Company is currently focused on resource expansion of the Gaspé Copper system, with current Indicated Mineral Resources of 824 Mt averaging 0.34% CuEq and Inferred Mineral Resources of 670 Mt averaging 0.38% CuEq (in compliance with NI 43-101). For more information, see Osisko Metals’ November 14, 2024 news release entitled ‘Osisko Metals Announces Significant Increase in Mineral Resource at Gaspé Copper’. Gaspé Copper hosts the largest undeveloped copper resource in eastern North America, strategically located near existing infrastructure in the mining-friendly province of Québec.

In addition to the Gaspé Copper project, the Company is working with Appian Capital Advisory LLP through the Pine Point Mining Limited joint venture to advance one of Canada‘s largest past-producing zinc mining camps, the Pine Point project, located in the Northwest Territories. The current mineral resource estimate for the Pine Point project consists of Indicated Mineral Resources of 49.5 Mt averaging 5.52% ZnEq and Inferred Mineral Resources of 8.3 Mt averaging 5.64% ZnEq (in compliance with NI 43-101). For more information, see Osisko Metals‘ June 25, 2024 news release entitled ‘Osisko Metals releases Pine Point mineral resource estimate: 49.5 million tonnes of indicated resources at 5.52% ZnEq’. The Pine Point project is located on the south shore of Great Slave Lake, NWT, close to infrastructure, with paved road access, an electrical substation and 100 kilometres of viable haul roads.

For further information on this news release, visit www.osiskometals.com or contact:

Don Njegovan, President
Email: info@osiskometals.com
Phone: (416) 500-4129

Cautionary Statement on Forward-Looking Information

This news release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as ‘expects’, or ‘does not expect’, ‘is expected’, ‘interpreted’, ‘management’s view’, ‘anticipates’ or ‘does not anticipate’, ‘plans’, ‘budget’, ‘scheduled’, ‘forecasts’, ‘estimates’, ‘potential’, ‘feasibility’, ‘believes’ or ‘intends’ or variations of such words and phrases or stating that certain actions, events or results ‘may’ or ‘could’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains forward-looking information pertaining to, among other things: the tax treatment of the FT Units; the timing of incurring the Qualifying Expenditures and the renunciation of the Qualifying Expenditures; the ability to advance Gaspé Copper to a construction decision (if at all); the ability to increase the Company’s trading liquidity and enhance its capital markets presence; the potential re-rating of the Company; the ability for the Company to unlock the full potential of its assets and achieve success; the ability for the Company to create value for its shareholders; the advancement of the Pine Point project; the anticipated resource expansion of the Gaspé Copper system and Gaspé Copper hosting the largest undeveloped copper resource in eastern North America.

Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including, without limitation, assumptions about: the ability of exploration results, including drilling, to accurately predict mineralization; errors in geological modelling; insufficient data; equity and debt capital markets; future spot prices of copper and zinc; the timing and results of exploration and drilling programs; the accuracy of mineral resource estimates; production costs; political and regulatory stability; the receipt of governmental and third party approvals; licenses and permits being received on favourable terms; sustained labour stability; stability in financial and capital markets; availability of mining equipment and positive relations with local communities and groups. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information are set out in the Company’s public disclosure record on SEDAR+ (www.sedarplus.ca) under Osisko Metals’ issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Photos accompanying this announcement are available at 
https://www.globenewswire.com/NewsRoom/AttachmentNg/704df619-458e-4636-a360-a7c147b0444c
https://www.globenewswire.com/NewsRoom/AttachmentNg/e312e542-f64b-4ee5-a179-e0cd809917ed

Sankamap Metals Inc. (CSE: SCU) (‘Sankamap’ or the ‘Company’) the Company and its auditor continue to work diligently toward the completion and filing of the Company’s annual audited financial statements and management’s discussion and analysis for the fiscal year ended June 30, 2025 (the ‘Required Filings’). The Company has obtained approval from the Alberta Securities Commission to extend the Management Cease Trade Order (‘MCTO’) under National Policy 12-203 Management Cease Trade Orders (‘NP 12-203’) until January 31, 2026. Sankamap confirms that it has received the crucial confirmations from the Solomon Islands government, and that the majority of the audit work has now been completed, with only a limited number of minor confirmations and outstanding items remaining. The Company is actively working to provide the remaining items and is contacting any parties from whom confirmations are still outstanding. Subject to the completion of these remaining items, the audit file is expected to enter the final stages of review and be nearing completion.

The Required Filings were due to be filed by October 28, 2025. In connection with the anticipated delays in making the Required Filings, the Company made an application for a MCTO under NP 12-203 to the Alberta Securities Commission, as principal regulator for the Company, and the MCTO was issued on October 29, 2025. The MCTO restricts all trading by the Company’s CEO and CFO in securities of the Company, whether direct or indirect. The MCTO does not affect the ability of persons who are not directors, officers or insiders of the Company to trade their securities. The MCTO will remain in effect until the Required Filings are filed or until it is revoked or varied.

The Company expects to proceed with the filing of its interim first-quarter financial statements shortly after the Required Filings have been completed and submitted.

The Company confirms that it intends to satisfy the provisions of the alternative information guidelines described in NP 12-203 by issuing bi-weekly default status reports in the form of a news release until it meets the Required Filings requirement. The Company has not taken any steps towards any insolvency proceeding and the Company has no material information relating to its affairs that has not been generally disclosed.

For further information with respect to the MCTO, please refer to the Company’s news releases dated October 21, 2025, November 4, 2025, November 18, 2025, December 3, 2025, December 17, 2025 and December 30, 2025, available for viewing on the Company’s SEDAR+ profile at www.sedarplus.ca.

About Sankamap Metals Inc.

Sankamap Metals Inc. (CSE: SCU) is a Canadian mineral exploration company dedicated to the discovery and development of high-grade copper and gold deposits through its flagship Oceania Project, located in the South Pacific. The Company’s fully permitted assets are strategically positioned in the Solomon Islands, along a prolific geological trend that hosts major copper-gold deposits; including Newcrest’s Lihir Mine, with a resource of 71.9 million ounces of gold¹ (310 Mt containing 23 Moz Au at 2.3 g/t P+P, 520 Mt containing 39 Moz Au at 2.3 g/t indicated, 81 Mt containing 5 Moz Au at 1.9 g/t measured, 61 Mt containing 4.9 Moz Au at 2.3 g/t Inferred).

Exploration is actively advancing at both the Kuma and Fauro properties, part of Sankamap’s Oceania Project in the Solomon Islands. Historical work has already highlighted the mineral potential of both sites, which lie along a highly prospective copper and gold-bearing trend, suggesting the possibility of further, yet-to-be-discovered deposits.

At Kuma, the property is believed to host an underexplored and largely untested porphyry copper-gold (Cu-Au) system. Historical rock chip sampling has returned consistently elevated gold values above 0.5 g/t Au, including a standout sample assaying 11.7% Cu and 13.5 g/t Au²; underscoring the area’s significant potential.

At Fauro, particularly at the Meriguna Target, historical trenching has returned highly encouraging results, including 8.0 meters at 27.95 g/t Au and 14.0 meters at 8.94 g/t Au³. Complementing these results are exceptional grab sample assays, including historical values of up to 173 g/t Au³, along with recent sampling by Sankamap at the Kiovakase Target, which returned numerous high-grade copper values, reaching up to 4.09% Cu. In addition, limited historical shallow drilling intersected 35.0 meters at 2.08 g/t Au³, further underscoring the property’s strong mineral potential and the merit for continued exploration. With a commitment to systematic exploration and a team of experienced professionals, Sankamap aims to unlock the untapped potential of underexplored regions and create substantial value for its shareholders. For more information, please refer to SEDAR+ (www.sedarplus.ca), under Sankamap’s profile.

1.Newcrest Technical Report, 2020 (Lihir: 310 Mt containing 23 Moz Au at 2.3 g/t P+P, 520 Mt containing 39 Moz Au at 2.3 g/t indicated, 81 Mt containing 5 Moz Au at 1.9 g/t measured, 61 Mt containing 4.9 Moz Au at 2.3 g/t Inferred)

2. Historical grab, soil and BLEG samples from SolGold Kuma Review June 2015, and SolGold plc Annual Report 2013/2012

3. September 2010-June 2012 press releases from Solomon Gold Ltd. and SolGold Fauro Island Summary Technical Info 2012

QP Disclosure

The technical content for the Oceania Project in this news release has been reviewed and approved by John Florek, M.Sc., P.Geol., a Qualified Person in accordance with CIM guidelines. Mr. John Florek is in good standing with the Professional Geoscientists of Ontario (Member ID:1228) and a director and officer of the Company.

ON BEHALF OF THE BOARD OF DIRECTORS

s/ ‘John Florek’
John Florek, M.Sc., P.Geol
Chief Executive Officer
Sankamap Metals Inc.

The Canadian Securities Exchange has not approved nor disapproved this press release.

Forward-Looking Statements

Certain statements made and information contained herein may constitute ‘forward-looking information’ and ‘forward-looking statements’ within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to Sankamap and there is no assurance that the actual results will meet management’s expectations. Forward-looking statements and information may be identified by such terms as ‘anticipates,’ ‘believes,’ ‘targets,’ ‘estimates,’ ‘plans,’ ‘expects,’ ‘may,’ ‘will,’ ‘could’ or ‘would.’

This press release contains forward-looking statements, including, but not limited to, statements regarding management’s expectations about obtaining the MCTO and completing the Required Filings within the anticipated timeline. Forward-looking statements are subject to various risks, uncertainties, and other factors that could cause actual results or events to differ materially from those expressed or implied by such statements. Sankamap does not undertake any obligation to update forward-looking statements or information, except as required by applicable securities laws. For more information on the Company, investors should review the Company’s continuous disclosure filings that are available at www.sedarplus.ca .

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/280320

VANCOUVER, BRITISH COLUMBIA / ACCESS Newswire / January 14, 2026 / CoTec Holdings Corp. (TSX-V:CTH)(OTCQB:CTHCF) (‘CoTec’ or the ‘Company’) is pleased to announce that the Company’s CEO, Julian Treger, will host an investor update on Friday, January 16, 2026, at 8:00 a.m. PST / 11:00 a.m. EST.

The update will highlight recent platform and strategic developments across the CoTec portfolio. Management will provide a high-level update on progress at MagIron, a CoTec investment advancing a U.S.-based iron ore and metallics strategy, as well as HyProMag USA, and discuss other key initiatives currently being advanced by the Company. The presentation will also include management’s outlook for 2026, outlining priorities, upcoming milestones, and areas of focus for the year ahead. A Q&A session will follow the presentation.

Investors who wish to attend the presentation may do so by clicking here to register.

Should the above link not work, please copy and paste the following link to your web browser: https://us06web.zoom.us/webinar/register/WN_0NBXb4IIRXOVP0d2l7j5Vg#/registration

About CoTec

CoTec Holdings Corp. (TSX-V:CTH)(OTCQB:CTHCF) is redefining the future of resource extraction and recycling. Focused on rare earth magnets and strategic materials, CoTec integrates breakthrough technologies with strategic assets to unlock secure, sustainable, and low-cost supply chains for the United States and its allies.

CoTec’s mission is clear: accelerate the energy transition while strengthening U.S. economic and national security. By investing in and deploying disruptive technologies, the Company delivers capital-efficient, scalable solutions that transform marginal assets, tailings, waste streams, and recycled products into high-value critical minerals.

From its HyProMag USA magnet recycling joint venture in Texas, to iron tailings reprocessing in Québec, to next-generation copper and iron solutions backed by global majors, CoTec is building a diversified portfolio with long-term growth, rapid cash flow potential, and high barriers to entry. The result is a differentiated platform at the intersection of technology, sustainability, and strategic materials.

For more information, please visit www.cotec.ca

For further information, please contact:
Eugene Hercun, VP Finance, +1 604 537 2413

Forward-Looking Information Cautionary Statement

Statements in this press release regarding the Company and its investments which are not historical facts are ‘forward-looking statements’ that involve risks and uncertainties, including statements relating to management’s expectations with respect to its current and potential future investments and the benefits to the Company which may be implied from such statements. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. For further details regarding risks and uncertainties facing the Company, please refer to ‘Risk Factors’ in the Company’s filing statement dated April 6, 2022, a copy of which may be found under the Company’s SEDAR+ profile at www.sedarplus.ca

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

SOURCE: CoTec Holdings Corp.

View the original press release on ACCESS Newswire

CALGARY, AB / ACCESS Newswire / January 13, 2026 / Valeura Energy Inc. (TSX:VLE,OTC:VLERF)(OTCQX:VLERF) (‘Valeura’ or the ‘Company’) announces: (i) the Company’s Q4 2025 performance was in line with its guidance outlook for 2025 and resulted in a new record cash position; (ii) completion of a successful drilling campaign at Block B5/27 drove strong ongoing oil production and is expected to contribute to reserves replacement; and (iii) a guidance outlook for 2026 supporting its objective to continue generating long-term value for shareholders.

Q4 and Full Year 2025 Highlights

• Record cash position of US$305.7 million as at 31 December 2025 with no debt;

• Oil production averaged 24,721 bbls/d in Q4 2025, resulting in full year average oil production of 23,242 bbls/d⁽¹⁾ for 2025;

• 2.523 million bbls of oil were sold in Q4 2025, with 8.466 million bbls sold for the full year 2025;

• Price realisations in Q4 2025 averaged US$64.0/bbl, resulting in revenue of US$161.4 million, and US$594.4 million of revenue for the full year 2025;

• Greenhouse gas (‘GHG’) intensity reduced by 13% for full year 2025, yielding a 30% reduction since Valeura originally acquired its Thailand portfolio in 2023; and

• Nine production-oriented development wells were completed at the Jasmine and Ban Yen fields in Q4 2025 with 100% success rate, including a new record length for a horizontal well in the Gulf of Thailand.

2026 Guidance Highlights

• Full year oil production mid-point of 21,000 bbls/d⁽¹⁾;

• Capex and exploration spending mid-point of US$185 million, including approximately US$70 million associated with the Wassana field redevelopment; and

• Adjusted Opex mid-point of US$205 million⁽²⁾.

⁽¹⁾ Working interest share production, before royalties.

⁽²⁾ Adjusted Opex is a non-IFRS financial measure, more fully described in Valeura’s Management’s Discussion and Analysis dated 14 November 2025. Includes lease spending of US$25 million.

Dr. Sean Guest, President and CEO commented:

‘We closed out 2025 with strong production performance and an even stronger financial position. Our Q4 drilling programme at Jasmine and Ban Yen was ambitious and innovative, and delivered a 100% success rate, with all wells being completed as producers. All across the business, our team remains committed to this type of world class performance and I believe this is reflected in the continual strengthening of our balance sheet, which now includes over US$300 million in cash, and no debt.

That commitment to excellence is also apparent in our strong safety performance and positive direction of travel on key environmental, social, and governance metrics. We saw no deviations from our high standards during the year and continue to show progress in our GHG intensity, which has now been reduced by approximately 30% under Valeura’s operatorship.

As we raise our sights to the year ahead, our long-term objective of delivering 20 – 25 mbbls/d⁽¹⁾ from our four producing assets remains intact, with this year’s performance expected around 21 mbbls/d⁽¹⁾, a number we see as a lull in advance of the start-up of our Wassana field redevelopment, which remains on track for first oil production in Q2 2027.

We continue to aggressively pursue other growth ambitions as well. The spirit of collaboration is strong between our team and our operating partners both in the large farm-in blocks in the Gulf of Thailand, and in our deep gas play in Türkiye where testing operations are now underway.

Our aspirations to grow inorganically are continuing as a priority. We believed that our appetite for larger, more transformative deals is well-supported, both by the financial wherewithal we bring to bear, and by the rich opportunity set we see emerging within our core Asia-Pacific region.’

⁽¹⁾ Working interest share oil production, before royalties.

Q4 and Full Year 2025 Overview
Working interest share oil production before royalties averaged 24.7 mbbls/d in Q4 2025. This was an increase of 7.6% over the prior quarter, reflecting the impact of new oil production wells coming on stream at Block B5/27, in addition to ongoing steady operations at the Company’s other producing fields. On a full year basis, working interest share oil production before royalties was higher as well, averaging 23.2 mbbls/d in 2025, an increase of 1.8% over 2024.

Oil sales totalled 2.523 million bbls in Q4 2025, which was higher than the 2.274 million bbls produced in the quarter, as a result of sales from crude oil held in inventory at the beginning of the quarter. The resultant revenue was US$161.4 million, based on an average sales price of US$64.0/bbl. The Company continues to realise a premium to the benchmark Brent crude oil price. For the full year 2025, the effect of quarterly over-lift / under-lift positions is negligible, with oil sales totalling 8.466 million bbls, a figure which is very close to the full year’s production of 8.483 million bbls. Valeura’s average 2025 sales price was US$70.2/bbl.

Valeura’s cash position strengthened to a new high of US$305.7 million at 31 December 2025, with no debt.

Operations Update
Operations progressed safely throughout 2025, and with no deviations from the Company’s high standards for environmental, social, and governance stewardship. Of note, Valeura is continuing to pursue efficiency gains across its portfolio that have a positive impact on the Company’s GHG emissions. Valeura estimates that its GHG intensity has reduced by 13% compared to the Company’s 2024 performance, and overall has achieved a 30% reduction since originally acquiring its Thailand portfolio.

Construction activities of a new-build central processing platform (‘CPP’) for the Wassana field redevelopment are progressing ahead of schedule. The project is now approximately 45% complete, underpinning management’s confidence in achieving first oil production from the redeveloped Wassana field (100% operated interest) on time, as planned, in Q2 2027. Moreover, with the majority of project costs either locked in or subject to fixed-price contracts, the Wassana field redevelopment project also remains on budget.

At the Company’s deep gas play in the Thrace basin of Türkiye, Transatlantic Petroleum LLC (‘Transatlantic’), who are conducting operations on Valeura’s behalf, have re-entered and hydraulically stimulated the Devepinar-1 well. Gas has been continually produced to surface through the well’s casing for over three weeks. With this success, Transatlantic has opted to continue work on the well, and is now installing production tubing to facilitate a longer-term production test. Transatlantic has satisfied its earning requirements and is now entitled to a 50% undivided working interest in the western portion of the Company’s lands, as further described in Valeura’s 15 October 2025 announcement. Once approved by the regulator, Transatlantic will hold a 50.0% working interest in the western portion of the Company’s lands, Valeura will hold 31.5%, and Pinnacle Turkey, Inc. will hold the remaining 18.5%. Valeura’s working interest in the eastern portion of the lands (Banarli licences) remains at 100%, subject to Transatlantic completing the drilling and testing of a new well. The Company intends to release more details on the Devepinar-1 well test and the future plans for the deep gas play later in Q1 2026.

Block B5/27 Drilling
Valeura has just completed the drilling of one deviated and eight horizontal wells on the Jasmine and Ban Yen fields at Block B5/27 in the Gulf of Thailand (100% operated interest). The drilling programme primarily focused on accessing unswept oil accumulations within producing reservoirs. All wells were successful and have been completed as producers. As a result, oil production rates before royalties from Block B5/27 have increased from approximately 7,300 bbls/d over the seven-day period prior to start of the drilling programme, to recent rates of approximately 8,600 bbls/d over the seven-day period immediately following the drilling programme.

Several of the wells were engineered to intersect additional appraisal targets while drilling toward their primary development targets. As a result, Valeura has identified various additional oil accumulations which will form the basis of future infill drilling campaigns on Block B5/27. This success is expected to add to the ultimate production potential of the block, which has already exceeded its production expectations many times over, and has seen its economic field life extended every year under Valeura’s operatorship.

Since taking over operatorship of its Thai portfolio in 2023, Valeura has been introducing new technologies and drilling approaches which are expected to increase the ultimate recovery of the fields and lower costs. One well in the recent drilling programme, JSB-28ST2H, achieved a new record as the longest horizontal well interval ever drilled in the Gulf of Thailand, at 3,875′. In addition, two of the wells drilled from the Jasmine B platform used a novel new approach whereby the shallower sections of the pre-existing wells were re-used, with the new well bores being drilled as sidetracks through the existing 7′ casing. This approach reduces drilling time and mitigates certain downhole drilling risks. Further, all horizontal wells drilled in this campaign were completed using autonomous inflow control devices which reduces the inflow of non-oil fluids into the wellbore. This technology has now been adopted extensively by Valeura as a value-enhancing innovation, across all its Gulf of Thailand assets.

2026 Work Programme andGuidance Synopsis
Valeura currently has one drill rig on contract, with a charter term spanning January through August 2026. The Company’s planned work programme for 2026 entails drilling an aggregate of 16 development and appraisal wells on the Jasmine, Nong Yao, and Manora fields. The overall objective of the development and appraisal programme is to mitigate natural production declines while also continuing the Company’s multi-year performance of adding reserves. The base plan also includes the planned drilling of two exploration wells across its operated Gulf of Thailand portfolio.

The Company is planning total capex and exploration spending of US$175 – 195 million in 2026. This amount includes approximately US$70 million for the completion of construction and installation of the new CPP at the Wassana field, in preparation for development drilling in Q1 2027. The Company is planning exploration expenditure of approximately US$7 million.

Valeura continues to model that its portfolio of four producing Gulf of Thailand fields will deliver working interest share oil production before royalties within the range of 20,000 – 25,000 bbls/d into the 2030’s. The Company’s 2026 work programme is in line with this expectation, with full year average production guidance of 19,500 – 22,500 bbls/d, or a mid-point of 21,000 bbls/d (working interest share, before royalties).

Adjusted opex in 2026 is forecast as US$190 – 220 million and at the midpoint would be the lowest opex that the Company has achieved since assuming operatorship in Thailand. Of note, adjusted opex guidance includes anticipated spending of approximately US$25 million on leases related to floating production, storage, and offloading vessels employed across the Company’s operations.

The Company’s production and capex forecast is predicated on the Company having one drilling rig on contract for approximately eight months of the year. Should prevailing economic conditions warrant revising the drilling programme to include more drilling, Valeura would update its guidance expectations accordingly.

Valeura is also actively working with PTT Exploration and Production Plc (‘PTTEP’) to pursue both exploration and development planning on Blocks G1/65 and G3/65 in the Gulf of Thailand, where Valeura is farming in to earn a 40% non-operated working interest (the ‘Farm-in Transaction’). High priority work streams are focussed on the Bussabong gas development area, which could result in an investment decision in 2026, and the Nong Yao northeast oil exploration area, to define a suitable timeframe for exploration drilling. Upon completion of the Farm-in Transaction, Valeura intends to more fully articulate a work programme for both blocks and will update the guidance at that time. Completion of the Farm-in Transaction requires government approval, which is expected following Thailand’s general election in Q1 2026.

Upcoming Announcements
Valeura intends to announce the results of a third-party reserves and resources evaluation as of 31 December 2025 in approximately the second half of February 2026. Thereafter, the Company plans to release its full audited financial and operating results for the year ended 31 December 2025 on approximately 18 March 2026.

For further information, please contact:

Valeura Energy Inc. (General Corporate Enquiries)+65 6373 6940
Sean Guest, President and CEO
Yacine Ben-Meriem, CFO
Contact@valeuraenergy.com

Valeura Energy Inc. (Investor and Media Enquiries) +1 403 975 6752 / +44 7392 940495
Robin James Martin, Vice President, Communications and Investor Relations
IR@valeuraenergy.com

Contact details for the Company’s advisors, covering research analysts and joint brokers, including Auctus Advisors LLP, Beacon Securities Limited, Canaccord Genuity Ltd (UK), Cormark Securities Inc., Research Capital Corporation, Roth Canada Inc., and Stifel Nicolaus Europe Limited, are listed on the Company’s website at www.valeuraenergy.com/investor-information/analysts/.

About the Company

Valeura Energy Inc. is a Canadian public company engaged in the exploration, development and production of petroleum and natural gas in Thailand and in Türkiye. The Company is pursuing a growth-oriented strategy and intends to re-invest into its producing asset portfolio and to deploy resources toward further organic and inorganic growth in Southeast Asia. Valeura aspires toward value accretive growth for stakeholders while adhering to high standards of environmental, social and governance responsibility.

Additional information relating to Valeura is also available on SEDAR+ at www.sedarplus.ca.

Advisory and Caution Regarding Forward-Looking Information
Certain information included in this news release constitutes forward-looking information under applicable securities legislation. Such forward-looking information is for the purpose of explaining management’s current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions. Forward-looking information typically contains statements with words such as ‘anticipate’, ‘believe’, ‘expect’, ‘plan’, ‘intend’, ‘estimate’, ‘propose’, ‘project’, ‘target’ or similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information in this news release includes, but is not limited to, anticipated 2026 full year oil production rates; anticipated capex and exploration spending in 2026, including the proportion included for the Wassana redevelopment project and for exploration expenditure; anticipated 2026 adjusted opex, and the proportion thereof relating to leases; the Company’s reduced GHG intensity representing an ongoing ‘direction of travel’; the Company’s ability to realise its long-term objective of delivering 20 – 25 mbbls/d from its four producing assets; timing for development drilling and for first oil production from the Wassana field redevelopment; the Company’s continued aggressive pursuit of its growth ambitions; the ability for the Company’s financial wherewithal and opportunity set to support inorganic growth; the Company continuing to realise a premium to the benchmark Brent crude oil price; the Company continuing to pursue and achieve efficiency gains across its portfolio; the transfer of working interest in the deep gas play to Transatlantic and resultant working interests of the parties, and the Company obtaining regulatory approval thereof; the Company’s intention to release more details on the Devepinar-1 well test and the future plans for the deep gas play and the timing thereof; additional oil accumulations at the Jasmine and Ban Yen fields forming the basis of future infill drilling campaigns on the block; drilling success adding to the ultimate production potential of the B5/27 Block; new technologies and drilling approaching resulting in an increase in the ultimate recovery of its fields; the duration and composition of Valeura’s 2026 drilling programme; the Company’s anticipated exploration expenditure for 2026; the ability for drilling to mitigate natural production declines while also continuing the Company’s multi-year performance of adding reserves; and government approval and timing for completion of the Farm-in Transaction.

Forward-looking information is based on management’s current expectations and assumptions regarding, among other things: political stability of the areas in which the Company is operating; continued safety of operations and ability to proceed in a timely manner; continued operations of and approvals forthcoming from governments and regulators in a manner consistent with past conduct; future drilling activity on the required/expected timelines; the prospectivity of the Company’s lands; the continued favourable pricing and operating netbacks across its business; future production rates and associated operating netbacks and cash flow; decline rates; future sources of funding; future economic conditions; the impact of inflation of future costs; future currency exchange rates; interest rates; the ability to meet drilling deadlines and fulfil commitments under licences and leases; future commodity prices; the impact of the Russian invasion of Ukraine; royalty rates and taxes; future capital and other expenditures; the success obtained in drilling new wells and working over existing wellbores; the performance of wells and facilities; the availability of the required capital to funds its exploration, development and other operations, and the ability of the Company to meet its commitments and financial obligations; the ability of the Company to secure adequate processing, transportation, fractionation and storage capacity on acceptable terms; the capacity and reliability of facilities; the application of regulatory requirements respecting abandonment and reclamation; the recoverability of the Company’s reserves and contingent resources; future growth; the sufficiency of budgeted capital expenditures in carrying out planned activities; the impact of increasing competition; the ability to efficiently integrate assets and employees acquired through acquisitions; global energy policies going forward; future debt levels; and the Company’s continued ability to obtain and retain qualified staff and equipment in a timely and cost efficient manner. In addition, the Company’s work programmes and budgets are in part based upon expected agreement among joint venture partners and associated exploration, development and marketing plans and anticipated costs and sales prices, which are subject to change based on, among other things, the actual results of drilling and related activity, availability of drilling, offshore storage and offloading facilities and other specialised oilfield equipment and service providers, changes in partners’ plans and unexpected delays and changes in market conditions. Although the Company believes the expectations and assumptions reflected in such forward-looking information are reasonable, they may prove to be incorrect.

Forward-looking information involves significant known and unknown risks and uncertainties. Exploration, appraisal, and development of oil and natural gas reserves and resources are speculative activities and involve a degree of risk. A number of factors could cause actual results to differ materially from those anticipated by the Company including, but not limited to: the ability of management to execute its business plan or realise anticipated benefits from acquisitions; the risk of disruptions from public health emergencies and/or pandemics; competition for specialised equipment and human resources; the Company’s ability to manage growth; the Company’s ability to manage the costs related to inflation; disruption in supply chains; the risk of currency fluctuations; changes in interest rates, oil and gas prices and netbacks; potential changes in joint venture partner strategies and participation in work programmes; uncertainty regarding the contemplated timelines and costs for work programme execution; the risks of disruption to operations and access to worksites; potential changes in laws and regulations, the uncertainty regarding government and other approvals; counterparty risk; the risk that financing may not be available; risks associated with weather delays and natural disasters; and the risk associated with international activity. See the most recent annual information form and management’s discussion and analysis of the Company for a detailed discussion of the risk factors.

The forward-looking information contained in this new release is made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. The forward-looking information contained in this new release is expressly qualified by this cautionary statement.

This news release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction, including where such offer would be unlawful. This news release is not for distribution or release, directly or indirectly, in or into the United States, Ireland, the Republic of South Africa or Japan or any other jurisdiction in which its publication or distribution would be unlawful.

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

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Valeura Energy Inc.

View the original press release on ACCESS Newswire