New assays support higher grades and substantially greater mineralized thicknesses than the initial Exploration Target

Viridian Metals Inc. (CSE: VRDN) (OTCQB: VIRMF) has intersected 15.05 metres at 1.09% CuEq within 40.8 metres at 0.63% CuEq, approximately 1.5 kilometres south of previous drilling at its Kraken copper-nickel-cobalt project in Labrador. The results are the first assays from the Company’s southern step-out drilling program.

Highlights

• 1.2 km step-out hole VKS26-062: Intersected 40.8 metres at 0.63% CuEq, including 15.05 metres at 1.09% CuEq.
• 1.5 km step-out hole VKS26-060: Intersected 23.0 metres at 0.44% CuEq, including 10.85 metres at 0.72% CuEq.
• Greater mineralized thicknesses confirmed: Both holes intersected mineralization from the top of bedrock to end of hole. Intercepts exceeding 30 metres, more than three times the initial Exploration Target’s average thickness, support Viridian’s model of a thicker mineralized system
• Higher-grade zones emerging: Both holes intersected grades exceeding 1.5% CuEq at the bedrock contact, supporting the potential for localized higher-grade pods within the broader mineralized system.
• Assays pending from a further 2.5 km: Results are pending from additional southern step-out holes, including visually identified sulphide intervals of 41.8m and 47.3m.

Tyrell Sutherland, President and CEO of Viridian Metals, commented:

“Our first Exploration Target was built around an average mineralized thickness of 8.6 metres. We are regularly seeing intervals of 30 to 50 metres, with locally higher grades, at massive step-outs along Kraken Main. These results reinforce our working model of a substantially thicker mineralized system than previous drilling suggests. Both holes ended in mineralization, so these results represent only a base case for the thickness of the mineralized horizon.

“These first assays come from two of the shorter visually identified sulphide intervals in our southern step-out program. Results are still pending from intervals of 41.8 and 47.3 metres, along with more holes extending another 2.5 kilometres south. If comparable grades and thicknesses persist along this trend, the implications for the scale of Kraken Main are substantial.”

Figure 1: Kraken Main Zone 2026 drill hole locations, with cross-sections showing the new mineralized intercepts in VKS26-060 and VKS26-062 and the previously reported 50.15-metre intercept in VKS25-024. Reported intervals represent downhole lengths; true thicknesses are not yet known. Intercept lengths and grades have been rounded to one decimal place.

Southern Step-Out Drilling Supports Greater Mineralized Thicknesses

Viridian’s October 2, 2026, news release reported visually identified sulphide mineralization from eight successfully drilled holes spanning approximately 3 kilometres along the southern Kraken Main Zone. The two holes reported today correspond to previously disclosed patchy net-textured sulphide intervals measuring 33.2 from VKS26-062 and 22.3 from VKS26-060 metres (see news release dated October 2, 2026, available on the Company’s SEDAR+ profile at www.sedarplus.ca and website at www.viridianmetals.com).

The new assays (Table 1) confirm that copper-nickel-cobalt mineralization extends beyond the visually distinctive patchy net-textured sulphide intervals. Both holes remained mineralized to the end of drilling, with the 40.8-metre interval in VKS26-062 extending beyond the previously reported 33.2-metre patchy net-textured interval.

Mineralization began immediately beneath unconsolidated overburden measuring 9.8 metres in VKS26-062 and 14.4 metres in VKS26-060.

The 2026 drill program was designed to establish the continuity of near-surface mineralization across Kraken Main and demonstrate consistent mineralized thicknesses exceeding 30 metres, more than three times the 8.6-metre average thickness identified by the initial Exploration Target (see news release dated September 15, 2026, available on the Company’s SEDAR+ profile at www.sedarplus.ca and website at www.viridianmetals.com). The latest results complement the previously reported 50.15-metre mineralized interval at Kraken Main, providing further evidence of broad mineralization across widely separated portions of the Main Zone.

VKS26-060 was drilled from higher on the hillside than VKS26-062. Based on the interpreted orientation of the mineralized horizon, extending VKS26-060 could intersect additional mineralization beneath the reported interval, rather than simply repeating the mineralized section encountered in VKS26-062.

The 2026 drill program focused on near-surface mineralization, with holes generally limited to approximately 50 metres, sufficient to test the anticipated 30-metre mineralized horizon. Across the eight southern step-out holes, seven encountered mineralization immediately beneath overburden and five remained mineralized to the end of hole, leaving the full thickness of the mineralized horizon unconstrained and establishing the 30-metre model as a base case for the potential scale of Kraken Main.

The broad, near-surface intercepts establish a base case for the scale of potential open-pit development of Kraken Main, with significant room for expansion. Mineralization remains open along strike and down dip, and the full extent of the system has yet to be defined.

Table 1 – Kraken Main 2026 drill results. New results are in bold.

8

0

6

0

3

0.5

0

7

3

7

0

11

2

8

0

*True thickness of the reported mineralized intervals is not yet known. Reported interval lengths represent downhole core lengths and should not be interpreted as true thickness.

Intercepts are calculated using a 0.1% CuEq¹ cut-off grade corresponding to approximately $10USD NSR with no more than 1.5 m of internal dilution. Viridian has completed specific gravity measurements and full multi-element geochemical analysis on all samples to support ongoing characterization of the Kraken system.

Drilling Update

The two holes reported in this release were prioritized for laboratory analysis. Additional samples from holes VKS26-055 to VKS26-058, VKS25-026E and VKS25-052E, which were drilled between these step-outs and Viridian’s earlier 2026 drilling have been delivered to Activation Laboratories Ltd. (“Activation Labs”) in Ancaster, Ontario, with assays pending.

Results also remain outstanding from holes spaced approximately 500 metres apart along a further 2.5 kilometres of Kraken Main to the south, including previously reported patchy net-textured sulphide intervals of 41.8 and 47.3 metres. Laboratory assays are required to establish the grades of these intervals.

Viridian has completed 27 drill holes during its 2026 exploration program. Two drill rigs are currently extending holes VKS25-052 and VKS25-046, with both rigs expected to remain on site through the end of October.

The Company anticipates reporting additional assay results approximately every three weeks through the end of 2026 and is targeting an updated Exploration Target in January 2027 incorporating results from the 2026 drilling program.

Table 2 – Kraken Main Zone 2026 drill collars. Collar coordinates are reported in NAD83 / UTM Zone 20N. Azimuths are referenced to true north. Bold holes are included in this release.

QA/QC

On receipt from the drill site BTW-sized drill core was systematically logged for geological attributes, photographed and sampled at Viridian’s Core Shack at Kraken Camp. Sample lengths as small as 0.30 m were used to isolate features of interest, but most samples within moderate to strong mineralization were 0.5-1.0 m in length. Core was cut in half lengthwise along a pre-determined line, with one half (same half, consistently, dictated by cut line where present) collected for analysis and one half stored as a record. Standard reference materials and blanks were inserted by Viridian personnel at regular intervals into the sample stream. Bagged samples were sealed with security tags to ensure integrity during transport. They were delivered by expeditor to Activation Labs’ facility in Ancaster, ON.

Activation Labs is independent of Viridian and accredited to ISO/IEC 17025. Samples were dried, crushed (< 7 kg) up to 80% passing 2 mm using riffle split (250 g) and pulverized to 95% passing 105 µm (code RX1). A four-acid near-total digest with an inductively coupled plasma optical emission spectroscopy (ICP-OES) finish was used for 35-element analysis on 25 g sample pulps (code 1F2). Samples that were over the analyses limit for Co, Cu and Ni were reanalyzed using sodium peroxide fusion ICP (code 8-peroxide).

Qualified Person

Tyrell Sutherland, P.Geo, President and CEO of Viridian Metals, who is a Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the technical disclosure contained in this news release.

¹Copper Equivalent Calculation

CuEq¹ calculated based on the following metal prices (USD): $4.00/lb Cu, $7.50/lb Ni and $15.00/lb Co, and a recovery of 80% for Ni and Co, consistent with comparable projects. The Company believes that all metals included in the CuEq¹ calculation have a reasonable potential to be recovered. CuEq¹ values are provided for illustrative purposes only; actual recoveries and metal prices may differ materially from those assumed.

About Viridian Metals

Viridian Metals is a pioneer and leader in generative metal exploration with a focus on environmental responsibility and ethical practices. Founded with the intention of discovering new critical metals deposits with the potential to transform the metal supply chain. We leverage innovative technologies and methods to enhance efficiency and sustainability in jurisdictions eager to be leaders in supplying the energy transition. Viridian maintains expertise in a range of critical metals with a primary focus on copper, nickel and cobalt in the near term. Our commitment to integrity and transparency fosters strong partnerships with both local and global stakeholders.