HIGHLIGHTS

• Drill holes SL25-25 and SL26-27 confirm strong continuity of the Springer gallium and rare earth element (Ga-REE) carbonatite system and successfully extend mineralization to the south.
• SL25-25 returned 0.40% TREO and 44.5 g/t Ga₂O₃ over 417.8 m, from 5.2 m to 423.0 m, including a high-grade interval of 174.7 g/t Ga₂O₃ and 3.73% TREO over 2.2 m, from 88.2 m to 90.4 m.
• The high-grade interval in SL25-25 demonstrates strong enrichment in critical magnet rare earths, including:
  • Neodymium up to 5,145.9 g/t Nd₂O₃ and Praseodymium up to 1,701.3 g/t Pr₆O₁₁.
  • Dysprosium up to 66.9 g/t Dy₂O₃ and Terbium up to 19.1 g/t Tb₄O₇.
  • Gadolinium up to 247.2 g/t Gd₂O₃ and Samarium up to 467.6 g/t Sm₂O₃.
• Hole SL26-27 intersected 0.36% TREO and 45.8 g/t Ga₂O₃ over 264.0 m, from 129.0 m to 393.0 m, extending mineralization to the south, including a higher-grade intersection of:
  • 0.61% TREO and 55.4 g/t Ga₂O₃ over 22.5 m.

Volta Metals Ltd. (CSE: VLTA) (FSE: D0W) (OTCQB: VOLMF) is pleased to report assay results from drill holes SL25-25 and SL26-27, completed as part of the 2026 winter drill program at its Springer Rare Earth Element deposit, near Sturgeon Falls, Ontario, Canada.

From January to April 2026, Volta completed a 13-hole, 5,452-metre drill program (SL26-27 to SL26-39) at the Springer deposit. The program was designed to both upgrade the current mineral resource estimate through infill drilling and expand the known Ga-REE mineralization.

DETAILS

Drill hole SL25-25 intersected 417.8 m grading 0.40% Total Rare Earth Oxides and 44.5 g/t gallium oxide (“Ga₂O₃“) from 5.2 m to 423.0 m, including a high-grade interval of 3.73% TREO and 174.7 g/t Ga₂O₃ over 2.2 m. The hole also returned a higher-grade near-surface zone grading 0.62% TREO and 60.6 g/t Ga₂O₃ over 50.0 m. These results further demonstrate the scale of the Springer system while continuing to expand Volta’s growing inventory of gallium, a strategically important critical mineral with highly concentrated global supply.

Drill hole SL25-25 was completed at a subvertical angle (80°) to the base of the conceptual open pit to test the down-dip extension of the Springer mineralized system. The hole successfully extended known mineralization approximately 220 m below historical hole SL12-20. Drill hole SL26-27 was designed to test the southern extent of the deposit and successfully intersected broad intervals of gallium and rare earth mineralization, confirming the continuation of the system in that direction.

Following the release of REE assay results on December 11, 2025, drill core from the 2025 Springer program was subsequently re-assayed for gallium. For completeness, both gallium and REE assay results for drill hole SL25-25 are presented in this release. Drill hole SL26-27 was completed as part of Volta’s 2026 winter drill program, and its results have not been previously disclosed.

“Drill hole SL25-25 returned more than 400 m of continuous gallium and rare earth mineralization, including a high-grade core enriched in premium magnet rare earths, while hole SL26-27 confirms the mineralization continues to the south,” said Kerem Usenmez, President and CEO of Volta. “The consistency, scale and growing footprint of the Springer deposit continue to exceed our expectations. As governments and industry seek secure North American supplies of critical minerals, Springer is rapidly demonstrating the characteristics of a strategically important gallium and rare earth project.”

Assay highlights from drill holes SL25-25 and SL26-27 are given in Table 1, and the best interval for individual REEs is given in Table 2. Assays are pending for additional drill holes. Drill hole collar coordinates are given in Table 3.

Springer REE assay results from drill holes SL25-23, SL25-24 and SL25-26 were reported in previous press releases (see Volta press releases dated October 29, 2025, November 12, 2025, and December 11, 2025, for details).

The REEs, along with a portion of the gallium, are primarily hosted in synchysite, a well-recognized REE calcium-cerium fluorocarbonate mineral. Synchysite concentrates light rare earth elements, including cerium (Ce), lanthanum (La), neodymium (Nd), and praseodymium (Pr), as well as heavy rare earth elements like dysprosium (Dy) and terbium (Tb), as well as gallium (Ga). The identification of synchysite as the principal host mineral is significant, as it is amenable to well-established REE recovery processes.

Figure 1: Cross section of SL25-25 showing TREO% and Ga₂O₃ g/t assays along the drill hole trace.

 Figure 2: Cross section of SL26-27 showing TREO% and Ga₂O₃ g/t assays along the drill hole trace.

Table 1: Assay highlight table from drill holes SL25-25 and SL26-27, Springer.

*TREO% = La2O3 + CeO2 + Pr6O11 + Nd2O3 + Sm2O3 + Eu2O3 + Gd2O3 + Tb4O7 + Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Lu2O3 + Y2O3%
**True thickness/width of mineralization is unknown.

Table 2: Best interval for individual Rare Earth Elements in SL25-25, Springer.

The geology of the Springer mineralization is hematitized brecciated syenite cross-cut by white vuggy carbonatite veins. There is an excellent correlation between the Ga and REE within the dolomite carbonatite veins. Figure 3 shows an example of the typical mineralization at Springer and corresponds to 174.7 g/t Ga₂O₃ and 3.73% TREO over 2.2 m.

Figure 3: Core photo of drill hole SL25-25, 88.2–90.4 m (2.20 m), showing white vuggy carbonatite vein with red hematite and purple fluorite in hematitized red syenite.

Table 3: Springer drill hole collar locations. UTM NAD 83, Zone 17.

Resource Estimate

On February 23, 2026, Volta reported an updated Mineral Resource Estimate for the Springer deposit, effective December 31, 2025, prepared by SLR Consulting (Canada) Ltd. The MRE is comprised of 56.6 Mt Indicated at 0.70% TREO (including a near-surface high-grade core of 11.5 Mt at 1.10% TREO) and 119.5 Mt Inferred at 0.58% TREO (including a near-surface high-grade core of 3.0 Mt at 1.16% TREO). Resources are reported within an optimized open pit shell above a C$43/t net metal revenue cut-off. Revenue is driven primarily by praseodymium and neodymium, which account for approximately 90% of total net metal value. The updated MRE represents a 1,248% increase in Indicated Resources and an 841% increase in Inferred Resources relative to the prior 2012 estimate, placing Springer among the top 10 largest REE deposits in North America based on the S&P Global Market Intelligence database (2025).

The Company cautions that mineral resources are not mineral reserves and do not have demonstrated economic viability.

Mineralization remains open in all directions. Gallium results from the Fall 2025 drill program are not included in the current MRE and will be reported separately. An NI 43-101 Technical Report supporting the MRE was filed on SEDAR+ on April 9, 2026.

QA/QC Protocol

All drilling was completed by a diamond drill rig producing NQ-size core. Volta implemented a strict QA/QC protocol in processing all rock samples collected from the diamond core obtained from the Springer REE property. The protocol included inserting reference materials, in this case, high-concentration and low-concentration certified rare earth elements and gallium standards, blanks, and drill core duplicates, to validate the accuracy and precision of the assay results. All collected rock core samples were cut in half by a rock saw, placed in sturdy plastic bags and zip-tied shut while under the supervision of a professional geologist. The remaining half core was returned to the core box, which is stored on the Property. The samples were shipped from Volta’s core shack in Sturgeon Falls to the Saskatchewan Research Council’s facility in Saskatoon, Saskatchewan, using the Manitoulin Transport freight shipping company.

The drill core samples were subsequently analyzed at SRC, using Code 8-REE Assay (lithium metaborate/ tetraborate fusion with subsequent analysis by ICP and ICP/MS). SRC has ISO/IEC 17025: 2017 accreditation from the Standards Council of Canada. Syenite standard SY-5 from Natural Resources Canada was inserted by SRC in the sample stream for every 20 drill core samples. Standard SY-5 passed within two standard deviations for rare-earth elements (La to Lu) and Ga. All internal standards and duplicates, and all external blanks, standards and core duplicates passed a Quality Control review by the Qualified Person.

Qualified Person

The technical content of this press release has been reviewed and approved by Dr. Julie Selway, P.Geo., VP, Exploration, and Qualified Person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.

ABOUT VOLTA METALS LTD.

Volta Metals Ltd. is a critical mineral exploration company focused on rare earths, gallium, lithium, cesium, and tantalum. Volta owns, has optioned and is currently exploring a critical minerals portfolio of rare earths, gallium, lithium, cesium, and tantalum projects in Ontario, one of the world’s most prolific and emerging hard-rock critical mineral districts.

Volta is advancing its 4,750-hectare Springer REE Deposit, which is located on the traditional territory of the Nipissing First Nation in Sturgeon Falls. The Springer Rare Earth Element deposit is located approximately 70 km east of Sudbury, Ontario, with direct access via the Trans-Canada Highway and Highway 64. The project benefits from well-developed infrastructure, including paved road access, on-site power lines fed from the Crystal Falls hydroelectric dam, a natural gas pipeline, and Canadian National Railway service, all within 8 km of the deposit.