Hole 3 yields 0.57% Ni+Cu+Co* over 21.1 m from surface

Hole 5 yields 4.15% Copper over 0.65m

Viridian Metals Inc. (TSX-V: VRDN) is pleased to announce the receipt of analytical results for its first 6 drill holes from it’s 2024 drilling campaign on the Kraken Ni-Cu-Co Project.

“These first results from our 2024 drill campaign, demonstrate grades that are notably higher than what we have traditionally seen in the Main Zone. Narrow high-grade intersections in one case containing over 4% copper in this near surface environment highlight the strong potential for economic mineralization at the western margin of the intrusion.” said Tyrell Sutherland, CEO and president of Viridian Metals. “The remaining 17 drill holes target areas primarily within the intrusion itself, I am optimistic that these will further confirm the continuity and potential of this emerging zone. This is an exciting step forward for the Kraken project as we continue to unlock its value and position it as a key contributor to the critical metals supply chain.”

Highlights

Hole VKS24-003 returned:

21.1m @ 0.27% Ni, 0.26% Cu and 0.04% Co from surface

• • • Including 10.5m @ 0.38% Ni, 0.35% Cu and 0.05% Co from 10m
    • Including 2.85m @ 0.56% Ni, 0.62% Cu and 0.07% Co from 17.65m

Hole VKS24-005 returned:

9.4m @ 0.09% Ni, 0.36% Cu and 0.01% Co from 0.25m

• • • Including 2.15m @ 0.26% Ni, 1.82% Cu and 0.1% Co from 7.5m
    • Including 0.65m @ 0.24% Ni, 4.15% Cu and 0.03% Co from 9m

The first six drill holes were aimed at defining the western margin of the Main Zone. Holes 3 and 5 successfully intersected Main Zone mineralization with results including 21.1m of 0.57% combined Ni+Cu+Co combined and 2.15m of 2.17% Ni+Cu+Co combined. These define the margin of the intrusion at the main zone. The company awaits analytical results from the remaining 17 holes of it’s 2024 diamond drilling campaign. All intervals are reported as core widths and mineralized intervals in all the holes drilled thus far are not representative of the true width as zone orientations are not yet apparent.

Table 1: Highlight summary of the Company’s latest assay results

*Distribution of relative amounts of Ni, Cu and Co are broken out in detail in pages below.

Figure 1: Map showing location of drill holes, gossans, geology and conductors at the Kraken Main Zone. Historical Drill Holes are shown with associated drill traces and mineralized sections colored.

Table 2: Assay results for holes VKS24-001 to VKS24-006 with Co, Cu and Ni percentages

QA/QC

Compass Exploration Group Ltd. (Compass) was retained to perform the drilling, logging and sampling of drill core.

On receipt from the drill site AW sized drill core was systematically logged for geological attributes, photographed and sampled at Viridian’s Core Shack in Goose Bay, NL. 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 Compass 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 accredited to ISO/IEC 17025:2017. 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 0.25g 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-icp-oes).

The Company also announces that pursuant to its equity incentive plan it has granted 2,530,600 stock options to certain consultants of the company. The grant will be effective November 27^th, 2024. Each option may be exercised for 1 common share in the capital of the Company at a price of $0.45 per share. The options expire 3 years from the date of the grant.

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.

Figure 1: Map showing location of drill holes, gossans, geology and conductors at the Kraken Main Zone. Historical Drill Holes are shown with associated drill traces and mineralized sections colored. (CNW Group/Viridian Metals)