Capella Minerals Ltd. (TSX-V: CMIL) (OTC Pink: CMILF) (FRA: N7D) is pleased to report results from a maiden diamond drill program completed recently at the Killero E copper-gold project in the Central Lapland Greenstone Belt, Northern Finland. Killero E is one of five copper-gold projects that form part of the Tümad Madencilik Sanayi Ve Ticaret A.S. earn-in Joint Venture for Northern Finland (see Company News Release dated September 2, 2025), and 2,008m / 9 holes (8 completed and one abandoned) of diamond drilling were completed in this first-pass evaluation.

Figure 1. Location map of the Capella-Tümad JV projects in Northern Finland (Killero E, Killero W, Jolhikko, Seisunselka, Saattopora W), together with the project areas acquired by Agnico as part of its consolidation of the Central Lapland Greenstone Belt. https://www.agnicoeagle.com/English/news-and-media/news-releases/news-details/2026/AGNICO-EAGLE-TO-CONSOLIDATE-FINLANDS-CENTRAL-LAPLAND-GREENSTONE-BELT-IN-THREE-SEPARATE-TRANSACTIONS/default.aspx (CNW Group/Capella Minerals Limited)

Figure 2. Locations of diamond drill holes at Killero E and the peak historical BoT copper value, all overlain on the Company’s high resolution drone magnetic data. Magnetic “highs” are all associated with either fine grained meta-gabbro or mafic meta-volcanic rock units. (CNW Group/Capella Minerals Limited)

Figure 3. A) Quartz-carbonate veining marking the top of the Killero Fault/Shear Zone (KE-001 155m, HQ core), B) Chalcopyrite-pyrrhotite mineralization hosted in quartz-carbonate vein (KE-001B 37.9m, HQ core), and C) Massive pyrrhotite and chalcopyrite in KE-001A 182.83-183.59m (0.76m @ 3.7% Cu + 19 g/t Ag) HQ core. (CNW Group/Capella Minerals Limited)

Figure 4. Quartz-carbonate-sulfide veining in KE-006. A) 59-60m and B) 114-115m. NQ core. (CNW Group/Capella Minerals Limited)

The Capella-Tümad JV projects are located approximately 40km SW of Agnico Eagle Mines Ltd’s (TSX: AEM)(NYSE: AEM) producing Kittila Gold Mine¹, with all five projects now being surrounded by Agnico following the successful closing of Agnico’s acquisition of Rupert Resources Ltd (TSX: RUP) on June 16, 2026 (Figure 1).

Highlights

• A total of 2,008m / 9 holes of diamond drilling was completed at the Killero E project as part of the Tümad earn-in JV. Drilling targeted the potential source of the historical Base of Till copper-gold anomalies identified at Killero E by Anglo American plc, together with an initial test of 800m strike extent of the regional NE-trending Killero Fault/Shear Zone (Figure 2; see also Company New Release dated May 30, 2023).
• Drilling has confirmed that the Killero Fault/Shear Zone dips steeply to the NW and is characterized by a zone of quartz-carbonate(+/-tourmaline) veining up to 40m in width (downhole²) and with highly variable sulfide content (Figures 3A to 3C). Host rocks are dominantly fine-grained meta-gabbro and mafic meta-volcanic rocks.
• Copper-silver mineralization hosted in quartz-carbonate veins/veinlets was intersected in most holes, with the most significant reportable intercepts including:
  • KE-001A: 0.76m @ 3.7% Cu + 19.6 g/t Ag from 182.83m downhole. Massive pyrrhotite and chalcopyrite hosted within quartz-carbonate vein (Figure 3C).
  • KE-003: 0.55m @ 0.6% Cu + 5 g/t Ag from 181.15m downhole.
  • KE-006: 0.70m @ 1.5% Cu + 7 g/t Ag from 114.2 downhole (Figure 4) and 0.50m @ 0.7% Cu + 3 g/t Ag from 178.8m downhole.
• Drill hole KE-004 also intersected foliation parallel zinc-copper-silver (“Zn-Cu-Ag”) style mineralization in meta-gabbro prior to being terminated prematurely at 50.5m as a result of a mechanical failure on the drill rig. The Company interprets this mineralization style and metal association to indicate proximity to a nearby massive sulfide occurrence.
  • KE-004: 5m @ 0.4% Zn + 0.2% Cu + 2 g/t Ag from 36.5m downhole.
• Diamond drilling is currently expected to commence on the two priority gold targets on the nearby Killero W project by June 30, 2026.

Eric Roth, Capella’s President and CEO, commented: “I am pleased to be reporting today results from our maiden diamond drilling program at the Killero E project in Northern Finland, and which also represents the first drill meters to be completed under our Scandinavian JV with Tümad. In spite of experiencing a number of operational and logistical challenges – and culminating in significantly longer than expected turnaround times for assays – this drill program has provided us with an excellent first look at the geology and mineralization styles underlying the historical BoT anomalies at Killero E. Our data reviews are ongoing and will focus on determining potential vectors to copper-silver and gold deposits both within the immediate project area and along strike extensions of the district-scale Killero Fault/Shear Zone.”

Upcoming Drill Programs and News Flow – Finland and Norway

• Killero W – first-pass diamond drilling of two priority gold targets in the Killero W permit is currently expected to begin by June 30, 2026. The Killero W targets are both defined by gold-rich Base of Till geochemical anomalies that are broadly associated with NE-trending structural corridors.
• Jolhikko and Seisunselka – 4 reconnaissance Base of Till and Top of Bedrock survey lines were completed over the Jolhikko and Seisunselka gold targets. A total of 102 BoT and 55 ToB samples were collected and sent to ALS Laboratories for analysis. A determination of potential targets for follow-up diamond drilling will be made as soon as results have been reviewed.
• Hessjøgruva (Norway) – permitting for the planned 8,000m diamond drill program at the advanced exploration-stage Hessjøgruva copper-cobalt-zinc project in central Norway continues. The Company has been advised that the Hessjøgruva drill permits may also require the approval of the federal Norwegian Environmental Agency in Oslo. Whilst precise timelines are not available, the Company currently expects drill permits to be granted immediately after the summer government recess.

Killero E Drill Holes – Locations and Technical Data

Table 1. Technical data relating to Killero E drill holes completed.

Footnotes: i) Datum used for Eastings and Northings is WGS84/UTM Zone 35N, ii) *KE-004 could not be completed as a result of a mechanical failure on the drill rig, iii) total metres completed in the program are updated to 2,008.20 (incorrectly stated as 1,946.85m in the Company’s March 24, 2026 News Release).

Quality Assurance/Quality Control

Capella/Tümad implemented a Quality Assurance/Quality Control program to ensure that logging and processing of the Killero E drill core was conducted in accordance with NI 43-101 standards and industry best practice. Drill core samples were either HQ (KE-001 and KE-001A) or NQ (KE-001B to KE-007) sized and were logged, photographed, and marked-up for sampling by geologists at GeoPool’s dedicated logging facility in Sodankylä. Core sampling was undertaken at the same facility utilizing a diamond saw, with one half being dispatched to the analytical laboratory and the other half remaining in storage. Sample lengths were determined according to geology and range from <1m in mineralized intervals to 2m in unmineralized intervals.

Samples for analysis were then sealed in plastic bags and delivered to ALS Laboratories in Sodankylä for sample preparation and subsequent analysis. All samples were dried and crushed to 70% passing 2mm, with a 250g representative split then being taken and further pulverized to a pulp with 85% passing 75 microns (Code PREP-31Y). All pulps were subsequently analyzed for Au (30g Fire Assay with AA finish; Code Au-AA23) plus a 34-element package (4 acid digestion with ICP-AES/MS finish; Code ME-ICP61). Overlimit analyses of Cu were automatically undertaken using the (+)-OG62 analytical technique. Internal controls of analytical results were provided through a mix of Certified Reference Materials (standards), duplicates, and blanks inserted by both Capella/Tümad and ALS in to the analytical sequence.

Qualified Persons and Disclosure Statement

The technical information presented in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 and approved by Eric Roth, the Company’s President & CEO, a Director, and a Qualified Person under NI 43-101.  Mr. Roth holds a Ph.D. in Economic Geology from the University of Western Australia, is a Fellow of the Australian Institute of Mining and Metallurgy (AusIMM) and is a Fellow of the Society of Economic Geologists (SEG). Mr. Roth has over 35 years of experience in international minerals exploration and mining project evaluation.

On Behalf of the Board of Capella Minerals Ltd.

“Eric Roth”

___________________________

Eric Roth, Ph.D., FAusIMM
President & CEO

About Capella Minerals Ltd

Capella is a Canadian exploration and development company with a focus on generating gold-copper projects globally.

On January 15, 2026, Capella announced the signing of a Binding Letter of Intent with Verde Metals with respect to an Earn-In Agreement on the Solana Iron-Oxide Copper-Gold project in southern Spain. Work plans for the Solana project are currently in the process of being approved by the Andalucian Mining Authority, with field activities expected to begin in early Q3, 2026.

Capella announced on September 2, 2025, the signing of a Definitive Agreement with Turkish mining company, Tümad Madencilik Sanayi Ve Ticaret A.S., for a staged earn-in on the Company’s portfolio of precious and base metal projects in Scandinavia. Tümad’s minimum Year 1 investment commitment includes up to 12,000m of diamond drilling on the Company’s gold-copper projects in the Central Lapland Greenstone Belt of northern Finland and the Hessjogruva copper-cobalt-zinc VMS project in central Norway.

Capella also retains a carried 10% interest through to production on the Løkken copper-cobalt-zinc VMS project of central Norway through a partnership with Teako Minerals Corp. In addition, Capella holds Net Smelter Royalties on the Savant Gold Project in Ontario, Canada (BeMetals Corp.) and the Central Finland Lithium Projects (Grit Metals Corp.), as a result of the divestiture of non-core assets.

For additional information you are cordially invited to visit the Capella Minerals Ltd website at www.capellaminerals.com, or to contact Karen Davies, VP Communications and Corporate Development, at Tel: +1.604.314.2662.