(TheNewswire)

GRANDE PRAIRIE, ALBERTA – October 21, 2025 TheNewswire – Angkor Resources Corp. (TSXV: ANK,OTC:ANKOF) (‘ANGKOR’ OR ‘THE COMPANY’) announces management’s intent for exploratory oil and gas drilling on Block VIII, Cambodia.

Angkor’s subsidiary EnerCam Resources Co. Cambodia Ltd. (‘EnerCam’) completed approximately 350-line kilometres of 2-D seismic across Block VIII in southwest Cambodia at the end of September 2025.  These seismic lines are being processed and interpreted in batches and both the South Bokor and Central Bokor sections have identified at least three significant closed anticlines, one in South Bokor and two in Central Bokor  the northern one being probably larger than currently imaged due to a lack of extra seismic line data in that area of the sub-basin.

CEO Delayne Weeks comments on the findings to date, ‘Although we await results from additional seismic lines, we are confident and very motivated with the interpretations of the data to date. Angkor Resources IDENTIFIES SECOND DRILL TARGET FOR OIL & GAS ON ITS BLOCK VIII, CAMBODIA | Angkor Resources Corp. Even with only half the interpretation of the seismic lines in hand, based on those results, we confirm that EnerCam is committed to drilling multiple exploratory wells in 2026.  These structures are of a quality and size that need to be tested and drilling is the only way to prove up Cambodia’s first onshore oil and gas resource.’

Dr. David Johnson, technical advisor to EnerCam, comments: ‘ Angkor’s decision to pursue drilling of both the South Bokor and Central Bokor structurally closed leads is extremely exciting and well founded. It is rare to find anticlines with four-way closures of over 48 square kilometres and 60 square kilometres respectively in a large sedimentary basin with indications of a working hydrocarbon system, and which have not yet been drilled. The anticlines present themselves clearly and are unmistakable in both the seismic line data and also in the surrounding surface geology.

The indications of a working hydrocarbon system are evident in the multiple legacy and newly discovered surface live oil seeps located within each of these sub-basins, and in adjacent basin areas. ‘

Dave Johnson continues his assessment, ‘ While seismic processing and interpretation is not yet complete, a potential thick ribbon-like top seal presents itself in multiple sections as a thick layer with clear, continuous, conformable reflectors (see Figure 3), consistent with mudstone and lower energy depositional environments.

An underlying potential reservoir-bearing section presents itself as a thick succession of semi-continuous higher amplitude reflectors with a cross-cutting habit, consistent with higher energy siliciclastic environments, or some carbonate facies development perhaps.  It is currently impossible to know for sure what these seismic facies represent in terms of sealing integrity, or both reservoir presence and quality, without drilling an exploratory wellbore to sufficient depth.

It is however, possible to estimate that the rock volume of a single ‘1 metre thickness reservoir zone’ under proven 4-way closure as 48 million and 60 million cubic metres respectively. There are indications of what geophysicists refer to as Direct Hydrocarbon Indicators (DHIs), and there is the potential for there being multiple layers of reservoir strata, satisfying the first essential requirement for the presence of significant hydrocarbon accumulation in place beneath the closed sealing formation cap layer.

Work is ongoing to better understand the potential hydrocarbon system and to reduce the risks associated with reservoir quality, seal integrity and source quality.  But only the drill bit will prove the true potential of these prospects.’

Management advances its activities, including sourcing a suitable oil and gas drilling rig and all the appropriate supporting equipment and ancillary services to bring into Cambodia to complete what will be the first onshore wells drilled in the nation.  Concurrently, the team is also working on efforts to improve the signal to noise data over each processed line as it becomes available to develop a stronger and broader picture of the potential in Block VIII.

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Figure 1 Typical ‘Triple’ Drilling Rig not yet closed in for winter conditions in open Prairie setting.

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Figure 2:-  Interpretation of our two anticlinal structures to date, South Bokor and Central Bokor (A double anticlinal dome), sitting on the west side of Bokor Mountain Park.  The structures are 4-way closed anticlinal domes, and each dome shows significant geographical size beneath a regionally consistent, thick, seismically defined, sealing mudstone layer.

Click Image To View Full Size

Figure 3:-  A West to East Seismic line through the South Bokor Structure displaying general seismic stratigraphy across this sub basin.

ABOUT Angkor Resources CORPORATION:

Angkor Resources Corp. is a public company, listed on the TSX-Venture Exchange, and is a leading resource optimizer in Cambodia working towards mineral and energy solutions across Canada and Cambodia.   Since 2022, Angkor’s Canadian subsidiary, EnerCam Exploration Ltd., has been involved in gas/carbon capture and oil and gas production in Saskatchewan, Canada.  ANGKOR’s carbon capture and gas conservation project is part of its long-term commitment to Environmental and Social projects and cleaner energy solutions across jurisdictions.

The company’s mineral subsidiary, Angkor Gold Corp. in Cambodia holds two mineral exploration licenses in Cambodia with multiple prospects in copper and gold.

Its Cambodian energy subsidiary, EnerCam Resources, was granted an onshore oil and gas license of 7300 square kilometres in the southwest quadrant of Cambodia called Block VIII.   The company then removed all parks and protected areas and added 220 square kilometres, making the just over 4270 square kilometres.  EnerCam is actively advancing oil and gas exploration onshore in Cambodia to meet its mission of discovering and proving Cambodia as an oil & gas producer.

CONTACT: Delayne Weeks – CEO

Email:- info@angkorresources.com Website: angkor resources.com Telephone: +1 (780) 831-8722

Please follow @AngkorResources on , , , Instagram and .

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

_____________________________________

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to the potential for gold and/or other minerals at any of the Company’s properties, the prospective nature of any claims comprising the Company’s property interests, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, uncertainty of sample results, timing and results o f future exploration, and the availability of financing.

Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

Copyright (c) 2025 TheNewswire – All rights reserved.

(TheNewswire)

In addition, the Qualified Person (QP) for the project and author of the NI43-101 report, Jorge Ortega, P.Geo., continues in the role of Exploration Manager and is already actively supervising our geological team that has taken more than a thousand surface and underground samples at site and is building a solid understanding of the controls on gold-silver mineralization in this high-grade low sulphidation epithermal system.

‘I am excited to be working with both Carlos and Jorge again ,’ stated Robert Archer, Pinnacle’s President & CEO.  ‘As former General Manager of the Guanajuato Mine and Exploration Manager for Great Panther Silver, respectively, they both played integral roles in the growth of that company.  Our current mine geologist also used to work at the Guanajuato Mine during that time.  As we move forward towards a production scenario at El Potrero, it is gratifying to be able to draw on their expertise in building a new team, to maximize the chance of success.’

Ing. Castro has a degree in Mining Engineering and Mineral Processing ( Ingeniero de Minas y Plantas de Beneficio) from the University of Guanajuato and has more than 45 years’ experience with companies such as Peñoles, Luismin, Great Panther and First Majestic.  He has held positions ranging from Mine Superintendent to General Manager of various mining operations and, for Rochester Resources, supervised the construction of a 300 tonne per day processing plant in 7 months, which will be particularly relevant at El Potrero.

Mr. Ortega is a Professional Geologist with a B.Sc. in Geological Engineering from the National Autonomous University of Mexico and an M.Sc. in Earth Sciences from Laval University in Quebec.  He has 30 years’ experience in all aspects of exploration in a variety of geological environments in Mexico, Canada, the USA, Turkey, Peru, Chile and Germany.  Since 2008, he has held various positions in Mexico with Oro Silver, Alamos Gold, Great Panther and, most recently, as VP Exploration for Excellon Resources.

Qualified Person

Mr. Jorge Ortega, P. Geo, a Qualified Person as defined by National Instrument 43-101, and the author of the NI 43-101 Technical Report for the Potrero Project, has reviewed and approved this news release.

About the Potrero Property

El Potrero is located in the prolific Sierra Madre Occidental of western Mexico and lies within 35 kilometres of four operating mines, including the 4,000 tonnes per day (tpd) Ciénega Mine (Fresnillo), the 1,000 tpd Tahuehueto Mine (Luca Mining) and the 250 tpd Topia Mine (Guanajuato Silver).

High-grade gold-silver mineralization occurs in a low sulphidation epithermal breccia vein system hosted within andesites of the Lower Volcanic Series and has three historic mines along a 500 metre strike length.  The property has been in private hands for almost 40 years and has never been systematically explored by modern methods, leaving significant exploration potential.

A previously operational 100 tpd plant on site can be refurbished / rebuilt and historic underground mine workings rehabilitated at relatively low cost in order to achieve near-term production once permits are in place. The property is road accessible with a power line within three kilometres.  Surface rights covering the plant and mine area are privately owned (no community issues).

Pinnacle will earn an initial 50% interest immediately upon commencing production.  The goal would then be to generate sufficient cash flow with which to further develop the project and increase the Company’s ownership to 100% subject to a 2% NSR.  If successful, this approach would be less dilutive for shareholders than relying on the equity markets to finance the growth of the Company.

About Pinnacle Silver and Gold Corp.

Pinnacle is focused on the development of precious metals projects in the Americas.  The high-grade Potrero gold-silver project in Mexico’s Sierra Madre Belt hosts an underexplored low-sulphidation epithermal vein system and provides the potential for near-term production . In the prolific Red Lake District of northwestern Ontario, the Company owns a 100% interest in the past-producing, high-grade Argosy Gold Mine and the adjacent North Birch Project with an eight-kilometre-long target horizon . With a seasoned, highly successful management team and quality projects, Pinnacle Silver and Gold is committed to building long -term , sustainable value for shareholders.

Signed: ‘Robert A. Archer’

President & CEO

For further information contact :

Email: info@pinnaclesilverandgold.com

Tel.:  +1 (877) 271-5886 ext. 110

Website: www.pinnaclesilverandgold.com

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release .

Copyright (c) 2025 TheNewswire – All rights reserved.

Cartier Resources Inc. (″ Cartier ″ or the ″ Company ″) (TSXV: ECR,OTC:ECRFF; FSE: 6CA) is pleased to announce the third batch of results from the fully funded 100,000-m drilling program (2 drill rigs) for the Contact Sector and more precisely, the North Contact Zone (NCZ), on its 100%-owned Cadillac Project, located in Val-d’Or (Abitibi, Quebec). The NCZ consists of three parallel high-grade gold zones: NCZ (1), NCZ (2) and NCZ (3).

Strategic Highlights from Contact Sector

Drill Results of NCZ (Figures 1 & 2)

• NCZ (3) intersected in hole CA25-530 graded 30.2 g/t Au over 2.5 m included in 11.0 g/t Au over 9.0 m with presence of visible gold grains , at a depth of 270 m, hole CA25-527 reported 27.1 g/t Au over 1.0 m included in 2.2 g/t Au over 18.0 m at a depth of 325 m and hole CA25-529 cut 6.1 g/t Au over 1.0 m included in 4.3 g/t Au over 4.0 m at a depth of 215 m.
• NCZ (1) intersected in hole CA25-526 graded 11.7 g/t Au over 0.5 m , at a depth of 230 m and hole CA25-530 reported 10.4 g/t Au over 0.5 m with presence of visible gold grains, at a depth of 200 m.
• NCZ (1) and NCZ (3) are spaced approximately 50 m apart.

Significance for Investors

• Holes CA25-526, CA25-527, CA25-529 and CA25-530 continue to clearly demonstrate the presence of a shallow and extensive mineralized system, hosting multiple high-grade gold zones with significant grades and widths . The mineralization has now been extended over 400 m in strike length by 300 m in depth , remains open in all directions , suggesting significant expansion potential .
• These latest assay results follow up on previously reported intercepts, including 16.7 g/t Au over 2.1 m within a broader interval of 5.9 g/t Au over 7.7 m (hole CA25-524) and 4.3 g/t Au over 2.0 m (hole CA25-525), as disclosed in Cartier’s September 23, 2025 news release titled ″ Cartier Cuts 16.7 g/t Au over 2.1 m at Contact (Cadillac); Strengthens Shallow High-Grade Gold Potential; Supports Expansion Drilling. ″
• The combination of exposed bedrock , minimal overburden (less than 5 m) and proximity to year-round road access (within 250 m) positions NCZ as a highly strategic asset for potential shallow operation scenarios . These logistical advantages should significantly enhance the development flexibility and economics of the Cadillac Project.

Next Steps

• Additional drilling is required on NCZ to confirm geological continuity , expand gold mineralization (150-300 m), extend footprint closer to surface (0-150 m) and advance toward a future gold inventory .
• Further exploration drilling is already planned to test several new high-priority regional targets at Contact Sector, backed by detailed structural and geological modelling and VRIFY’s artificial intelligence (AI) driven targeting , reinforcing the potential for additional gold discoveries .

‘ This second set of high-grade gold results in the Contact Sector is extremely encouraging for the long-term potential of the Cadillac Project. The decision to allocate part of the 100,000-m drill program to this sector is clearly delivering strong results for our shareholders. These outcomes reflect our focused strategy of advancing known mineralized zones while also targeting high-priority regional exploration opportunities .’ – Philippe Cloutier, President and CEO of Cartier.

‘ The updated geological model, from continuous analysis and interpretation of results, is yielding positive results and highlighting the significant potential of the Contact Sector. Improved understanding of the structural features is allowing us to more efficiently and accurately target mineralized zones. The gold potential of the Héva Fault Zone, hosting NCZ, remains largely underexplored and we believe there is significant upside yet to be unlocked. ‘ – Ronan Deroff, Vice President Exploration of Cartier.

Figure 1 : Plan view, cross and long sections of the Contact Sector

Figure 2 : Photos of the drill core from hole CA25-530

Table 1 : Drill hole best assay results from Contact Sector

* Occurrences of visible gold (VG) have been noted in the drill core at various intervals. ** Based on the observed intercept angles within the drill core, true thicknesses are estimated to represent approximately 50–85 % of the reported core length intervals.

Contact Sector

The Contact Sector is a highly prospective area featuring the North Contact Zone (‘NCZ’) and several newly defined high-priority drill targets.

The NCZ lies along an east-west trending, strongly sheared corridor (Héva Fault Zone), situated approximately 900 m north of the Cadillac Fault Zone, and occurs at the contact between the hanging wall mafic to intermediate volcanics (basalt to andesite) of Louvicourt Group and the footwall turbiditic sedimentary rocks (wacke-mudrock) of Cadillac Group. This lithological contact is a favorable horizon for hydrothermal fluid flow, likely related to synvolcanic gold deposition.

The NCZ, defined by at least three parallel gold-rich zones, are typically and primarily associated with a fine-grained and disseminated arsenopyrite-pyrrhotite mineralization, with a pervasive biotite-chlorite-carbonate alteration, all crosscut by late-stage smoky quartz vein and veinlet stockworks containing visible gold. Locally, accessory minerals such as sphalerite, galena and tourmaline are observed.

Milestones of 2025-2027 Exploration Program

100,000 m Drilling Program (Q3 2025 to Q2 2027)

The ambitious 600-hole drilling program will both expand known gold zones (Brownfield Growth) and test new shallow surface high-potential targets (Greenfield Discovery). The objective is to unlock the camp-scale, high-grade gold potential along the 15 km Cadillac Fault Zone. It is important to note that Cartier’s recent consolidation of this large land holding offers the unique opportunity in over 90 years for unrestricted exploration.

Environmental Baseline Studies & Economic Evaluation of Chimo mine tailings (Q3 2025 to Q3 2026)

The baseline studies will be divided into two distinct parts which include 1) environmental baseline desktop study and 2) preliminary environmental geochemical characterization. The initial baseline studies will provide a comprehensive understanding of the current environmental conditions and implement operations that minimize environmental impact while optimizing the economic potential of the project. These studies will be supplemented by an initial assessment of the economic potential of the past-producing Chimo mine tailings to determine whether a quantity of gold can be extracted economically.

Metallurgical Sampling and Testwork Program (Q4 2025 to Q1 2026)

The metallurgical testwork program includes defining of expected gold recovery rates and improving historical results from the Chimo deposit, as well as establishing metallurgical recovery data for the first-time for the East Chimo and West Nordeau satellite deposits, where no previous data exists. This comprehensive program will characterize the mineralized material, gold recovery potential and validate optimal grind size defining the most efficient and cost-effective flowsheet. The data generated will directly support optimized project development and have the potential to significantly reduce both capital and operating costs, while also improving the environmental footprint.

Table 2 : Drill hole collar coordinates from Contact Sector

Table 3 : Drill hole detailed assay results from Contact Sector

* Occurrences of visible gold (VG) have been noted in the drill core at various intervals. ** Based on the observed intercept angles within the drill core, true thicknesses are estimated to represent approximately 50–85 % of the reported core length intervals.

Quality Assurance and Quality Control (QA/QC) Program

The drill core from the Cadillac Project is NQ-size and, upon receipt from the drill rig, is described and sampled by Cartier geologists. Core is sawn in half, with one half labelled, bagged and submitted for analysis and the other half retained and stored at Cartier’s coreshack facilities located in Val-d’Or, Quebec, for future reference and verification. As part of Quality Assurance and Quality Control (QA/QC) program, Cartier inserts blank samples and certified reference materials (standards) at regular intervals into the sample stream prior to shipment to monitor laboratory performance and analytical accuracy.

Drill core samples are sent to MSALABS’s analytical laboratory located in Val-d’Or, Quebec, for preparation and gold analysis. The entire sample is dried and crushed (70% passing a 2-millimeter sieve). The analysis for gold is performed on an approximately 500 g aliquot using Chrysos Photon Assay technology, which uses high-energy X-ray excitation with gamma detection to quickly and non-destructively measure gold content.

Alternatively, samples are submitted to Activation Laboratories Ltd. (‘Actlabs’), located in either Val-d’Or or Ste-Germaine-Boulé, both in Quebec, for preparation and gold analysis. The entire sample is dried, crushed (90% passing a 2-millimetre sieve) and 250 g is pulverized (90% passing a 0.07-millimetre sieve). The analysis for gold is conducted using a 50 g fire assay fusion with atomic absorption spectroscopy (AAS) finish, with a detection limit up to 10,000 ppb. Samples exceeding this threshold are reanalyzed by fire assay with a gravimetric finish to determine high-grade values accurately.

Both MSALABS and Actlabs are ISO/IEC 17025 accredited for gold assays and implement industry-standard QA/QC protocols. Their internal quality control programs include the use of blanks, duplicates, and certified reference materials at set intervals, with established acceptance criteria to ensure data integrity and analytical precision.

Qualified Person

The scientific and technical content of this press release has been prepared, reviewed and approved by Mr. Ronan Déroff, P.Geo., M.Sc., Vice President Exploration, who is a ″Qualified Person″ as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (″NI 43-101″).

About Cadillac Project

The Cadillac Project, covering 14,000 hectares along a 15-kilometre stretch of the Cadillac Fault, is one of the largest consolidated land packages in the Val-d’Or mining camp. Cartier’s flagship asset integrates the historic Chimo Mine and East Cadillac projects, creating a dominant position in a world class gold mining district. With excellent road access, year-round infrastructure and nearby milling capacity, the project is ideally positioned for rapid advancement and value creation.

Using a gold price of US$1,750/oz, a Preliminary Economic Assessment demonstrated the economic viability of a 2-km segment, compared to the 15 km that will be the subject of the 100,000 m drilling program, with an average annual gold production of 116,900 oz over a 9.7-year mine life. Indicated resources are estimated at 720,000 ounces (7.1 million tonnes at 3.1 g/t Au) and inferred resources at 1,633,000 ounces (18.5 million tonnes at 2.8 g/t Au). Please see the NI 43-101 ″Technical Report and Preliminary Economic Assessment for Chimo Mine and West Nordeau Gold Deposits, Chimo Mine and East Cadillac Properties, Quebec, Canada, Marc R. Beauvais, P.Eng., of InnovExplo Inc., Mr. Florent Baril of Bumigeme and Mr. Eric Sellars, P.Eng. of Responsible Mining Solutions″ effective May 29, 2023.

About Cartier Resources Inc.

Cartier Resources Inc., founded in 2006 and headquartered in Val-d’Or (Quebec) is a gold exploration company focused on building shareholder value through discovery and development in one of Canada’s most prolific mining camps. The Company combines strong technical expertise, a track record of successful exploration, and a fully funded program to advance its flagship Cadillac Project. Cartier’s strategy is clear: unlock the full potential of one of the largest undeveloped gold landholdings in Quebec.

For further information, contact:
Philippe Cloutier, P. Geo.
President and CEO
Telephone: 819-856-0512
philippe.cloutier@ressourcescartier.com
www.ressourcescartier.com

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

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/4c94767e-126a-4d86-8ce2-0a4661805df7

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• MAVERIC Phase III pivotal trial of orphan drug candidate CardiolRx in recurrent pericarditis is fully funded through to a planned New Drug Application submission with the FDA.

• New data from the ARCHER trial, highlighting the magnitude of reduction in left ventricular (LV) mass and the read through to heart failure, to be presented at a cardiology conference in November 2025.

• Next-generation therapy CRD-38 for heart failure funded through to clinical development, with partnership discussions advancing with leading pharmaceutical companies.

Cardiol Therapeutics Inc. (NASDAQ: CRDL) (TSX: CRDL) (‘Cardiol’ or the ‘Company’), a clinical-stage life sciences company advancing late-stage, anti-inflammatory and anti-fibrotic therapies for heart disease, today announced the successful completion of the previously announced private placement offering (the ‘Offering’) of units (‘Units’) for total proceeds of US$11.4 million, reflecting closing on all funds previously committed under the Offering.

‘As recruitment in our pivotal Phase III MAVERIC trial gains momentum, with several prominent centers across the U.S. now enrolling patients, we are pleased to have secured a direct investment of US$11.4 million to strengthen our balance sheet and accelerate the development of our novel heart failure drug, CRD-38, based on the recently reported findings from our ARCHER trial,’ said David Elsley, President and CEO of Cardiol Therapeutics. ‘Topline results from our ARCHER trial demonstrated a significant reduction in LV mass-marking the first evidence of structural and remodeling improvement in patients with myocarditis. This landmark finding represents our second clinical validation in inflammatory heart disease and establishes a key translational link to data published earlier this year in the Journal of the American College of Cardiology, which demonstrated the beneficial effects of the active pharmaceutical ingredient or API in CardiolRx on cardiac structure, inflammation, and fibrosis in a model of heart failure. The ARCHER findings support pursuing an additional Orphan Drug Designation for CardiolRx in myocarditis and advancing the development of our next-generation CRD-38 formulation, which delivers the same API via subcutaneous administration, to target the broader heart failure market. Notably, blockbuster drugs that reduce LV mass have been shown to lower heart failure-related death and hospitalization, underscoring the clinical potential of Cardiol’s differentiated anti-inflammatory mechanism to address a large unmet need in heart failure, where five-year mortality rates still exceed 50%.’

Under the Offering, the Company sold a total of 11.4 million Units at a price of US$1.00 per Unit. Each Unit consists of one Class A common share of the Company (a ‘Common Share‘) and one-half of one Common Share purchase warrant. Each whole warrant entitles the holder to acquire one additional Common Share at an exercise price of US$1.35 for a period of 24 months from the date of issuance. The warrants include an acceleration provision, allowing the Company to advance their expiry to the 30^th day following the issuance of a news release if the daily volume-weighted average trading price of the Common Shares exceeds US$2.00 for five consecutive trading days. Proceeds from the Offering provide cash resources that are anticipated to support operations into the third quarter of 2027.

The securities have not been registered under the United States Securities Act of 1933, as amended (the ‘U.S. Securities Act‘), or any U.S. state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the ‘United States’ or ‘U.S. persons’ (as such terms are used in Regulation S under the U.S. Securities Act), absent registration under the U.S. Securities Act and all applicable U.S. state securities laws or in compliance with an exemption therefrom. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Certain insiders of the Company participated in the Offering. Such participation is considered to be a ‘related-party transaction’ within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (‘MI 61-101‘). The Company is relying on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related-party participation in the Offering as the fair market value (as determined under MI 61-101) of the subject matter of, and the fair market value of the consideration for, the transaction, insofar as it involved interested parties, did not exceed 25% of the Company’s market capitalization (as determined under MI 61-101).

About Cardiol Therapeutics

Cardiol Therapeutics Inc. (NASDAQ: CRDL) (TSX: CRDL) is a clinical-stage life sciences company advancing late-stage, anti-inflammatory and anti-fibrotic therapies for heart disease. The Company’s lead small molecule drug candidate, CardiolRx, modulates inflammasome pathway activation, an intracellular process known to play an important role in the development and progression of inflammation and fibrosis associated with pericarditis, myocarditis, and heart failure.

The MAVERIC Program in recurrent pericarditis, an inflammatory disease of the pericardium which is associated with symptoms including debilitating chest pain, shortness of breath, and fatigue, and results in physical limitations, reduced quality of life, emergency department visits, and hospitalizations, comprises the completed Phase II MAvERIC-Pilot study (NCT05494788) and the ongoing pivotal Phase III MAVERIC trial (NCT06708299). The U.S. FDA has granted Orphan Drug Designation to CardiolRx for the treatment of pericarditis, which includes recurrent pericarditis.

The ARCHER Program (NCT05180240) comprises the completed Phase II study in acute myocarditis, an important cause of acute and fulminant heart failure in young adults and a leading cause of sudden cardiac death in people less than 35 years of age.

Cardiol is also developing CRD-38, a novel subcutaneously administered drug formulation intended for use in heart failure-a leading cause of death and hospitalization in the developed world, with associated healthcare costs in the United States exceeding US$30 billion annually.

For more information about Cardiol Therapeutics, please visit cardiolrx.com.

Cautionary statement regarding forward-looking information:

This news release contains ‘forward-looking information’ within the meaning of applicable securities laws. All statements, other than statements of historical fact, that address activities, events, or developments that Cardiol believes, expects, or anticipates will, may, could, or might occur in the future are ‘forward-looking information’. Forward looking information contained herein may include, but is not limited to statements regarding the Company’s focus on developing anti-inflammatory and anti-fibrotic therapies for the treatment of heart disease, the Company’s intended clinical studies and trial activities and timelines associated with such activities, including the Company’s plan to complete the Phase III study in recurrent pericarditis with CardiolRx, the Company’s plan to advance the development of CRD-38, a novel subcutaneous formulation intended for use in heart failure, the Company’s presentation and publication of the comprehensive ARCHER trial data, the Company’s belief that results from the ARCHER trial provide compelling clinical proof of concept for CardiolRx and strongly support advancing the clinical development of CardiolRx and CRD-38 for the treatment of inflammatory cardiac disorders including cardiomyopathies, heart failure, and myocarditis, and statements regarding the expected length and scope of funding for the Company’s development plans as a result of the Offering. Forward-looking information contained herein reflects the current expectations or beliefs of Cardiol based on information currently available to it and is based on certain assumptions and is also subject to a variety of known and unknown risks and uncertainties and other factors that could cause the actual events or results to differ materially from any future results, performance or achievements expressed or implied by the forward looking information, and are not (and should not be considered to be) guarantees of future performance. These risks and uncertainties and other factors include the risks and uncertainties referred to in the Company’s Annual Information Form filed with the Canadian securities administrators and U.S. Securities and Exchange Commission on March 31, 2025, available on SEDAR+ at sedarplus.ca and EDGAR at sec.gov, as well as the risks and uncertainties associated with product commercialization and clinical studies. These assumptions, risks, uncertainties, and other factors should be considered carefully, and investors should not place undue reliance on the forward-looking information, and such information may not be appropriate for other purposes. Any forward-looking information speaks only as of the date of this press release and, except as may be required by applicable securities laws, Cardiol disclaims any intent or obligation to update or revise such forward-looking information, whether as a result of new information, future events, or results, or otherwise. Investors are cautioned not to rely on these forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/271249

Investorideas.com (www.investorideas.com), a go-to platform for big investing ideas for traders, including mining and defense stocks, reports on how critical mineral antimony is gaining government and investor attention as its role in defense heats up, featuring Locksley Resources Ltd. (ASX: LKY,OTC:LKYRF) (OTCQX: LKYRF) (FSE: X5L), a company that specializes in critical minerals development within the United States.

Critical Mineral Antimony Stocks – Reshaping the Future of Defense

To view an enhanced version of this graphic, please visit:
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While antimony has a wide array of uses, its contributions to national security, energy and manufacturing are currently grabbing the spotlight. The United States, Canada and the European Union have each classified it as a critical mineral, citing its essential applications in defense technologies (such as armor-piercing ammunition and explosives), energy storage systems, and electronics.

With recent news headlines that ‘United States Antimony Corporation (NYSE American: UAMY) (NYSE Texas: UAMY) Awarded $245 Million Sole-Source Five-Year Contract by the U.S. Defense Logistics Agency for the Purchase of Antimony Ingots to Replenish the U.S. National Defense Stockpile’, antimony is on a watch list globally. The stock has had a 100% gain in the past month.

Making its own headlines, Locksley Resources Ltd (ASX: LKY,OTC:LKYRF) (OTCQX: LKYRF) (FSE: X5L) just announced a significant Company milestone with the production of a 100% American made antimony ingot, marking the return of the first US domestic antimony metal production in decades.

From the news:
The milestone represents proof-of-concept for a fully American mine to-metal supply chain, from ore sourced at the Company’s Mojave Desert Antimony Mine in California, through to refining entirely within the US by Hazen Research Inc., one of the nation’s most respected metallurgical and process development laboratories.

This breakthrough directly supports US government and Presidential Executive Orders aimed at re-establishing domestic production of critical minerals vital to defense, clean energy, and strategic manufacturing supply chains. Locksley is working closely with its strategic partners, and Washington D.C based advisors, GreenMet, to advance permitting and funding initiatives to support the next stage of the Company’s commercialisation strategy.

HIGHLIGHTS

• Locksley produces 100% American made antimony ingot from Mojave
• Achievement validates the only known US mine-to-metal supply chain for antimony, fully independent of Chinese processing
• Ore sourced from the Company’s Mojave Desert Antimony Mine in California and refined by Hazen Research Inc. in Colorado
• Milestone supports US Government initiatives to secure critical minerals essential for defense, energy, and advanced manufacturing
• Locksley is working closely with its strategic partners and Washington D.C advisors, GreenMet, to advance permitting and funding initiatives

Kerrie Matthews, Locksley CEO, commented:
‘This is a defining milestone for Locksley and the United States. The successful casting of the first 100% American made antimony ingot in decades, demonstrates mine-to-metal production is not only possible but is already underway.

‘We’ve proven the concept, and now our focus turns to scaling this achievement into a sustainable, commercial supply chain that supports America’s industrial and defense sectors. This is just the beginning, the foundation has been set, and we look forward to updating the market on the next steps for Locksley and its strategy to support America’s critical minerals independence.’

Drew Horn, CEO of GreenMet, commented:
‘Locksley’s achievement is not only a technical success, but also a national milestone. The ability to produce an American sourced and American refined antimony ingot is precisely the kind of outcome that US policymakers and industry leaders have been seeking to re-establish domestic supply chains for critical minerals.

‘GreenMet is proud to support Locksley in advancing this effort and to work alongside the Company as it progresses permitting and funding initiatives that strengthen America’s strategic materials independence.’

Validation of a 100% American Mine-to-Market Supply Chain
This achievement demonstrates Locksley’s commitment to delivering an antimony product sourced and refined entirely within the United States.

The breakthrough directly supports US government objectives to restore domestic critical mineral production. Locksley will work closely with strategic partners, including Washington, DC based advisors and GreenMet, to advance permitting and funding, supporting the next stage of the Company’s commercialisation strategy and America’s self-sufficiency in critical minerals.

Advancing Toward Pilot Scale Production
Following the successful validation of the first 100% American-made antimony ingot, Locksley Resources is now advancing towards pilot-scale production, a key step in confirming metallurgical recoveries, process efficiency, and scalability for future commercial supply.

The Company will work closely with industry partners and downstream consumers to ensure product specifications for both antimony trisulfide and antimony trioxide meet stringent US defense and industrial standards. This phase will also support offtake readiness and qualification as the leading US developer of domestically produced antimony metal.

This milestone firmly established Locksley as a pioneer in rebuilding America’s antimony supply chain, aligning with ongoing US Government and Presidential Executive Orders that prioritise domestic sourcing and processing of critical minerals essential for defense, energy storage, and advanced manufacturing.

With one of the few known high-grade, primary antimony deposits in the continental United States, the Mojave Project offers a path to scaled production and a strategic alternative to Chinese controlled supply chains, reinforcing Locksley’s role at the forefront of America’s critical minerals independence.

Strategic Context: US and Australian Government Engagement
Locksley’s milestone coincides with a significant step-up in bilateral critical minerals dialogue between the United States and Australia, underscored by Prime Minister Albanese’s upcoming meeting with President Trump in Washington, DC. Recent government briefings and funding initiatives from both nations have underscored antimony’s strategic importance and the shared objective of establishing secure, allied production capabilities.

As the first company to deliver a 100% American-made antimony ingot in decades, Locksley’s achievement positions it at the forefront of this renewed trans-Pacific strategic effort to re-establish secure, allied supply chains for critical minerals, vital to defense, energy, and advanced manufacturing.

Next Steps
With proof-of-concept successfully achieved, Locksley is now transitioning from validation to pilot-scale and pre-commercial operations in the United States. The next phase of work will focus on scaling, refining, and positioning the Company for government and industry engagement:

• Scale-up to U.S based pilot plant operations: Establishing a domestic pilot facility to validate process efficiency, recoveries, and repeatability under commercial conditions.
• Detailed metallurgical interpretation and process flow-sheet optimisation: Utilise test data from Hazen Research to refine processing parameters and finalise design inputs for larger scale operations.
• Engagement with U.S. government and industrial partners: Advance discussions for offtake qualification, funding support, and strategic collaboration under existing national interest programs and defense supply chain programs.
• Commercial pathway planning: Progress engineering, permitting, and funding initiatives in collaboration with Washington D.C-based advisors GreenMet, as Locksley advances towards establishing a fully integrated, American controlled antimony production and processing capability.

Following the news, the Sydney Morning Herald reported, ‘Locksley Resources has just etched its name into United States industrial history by pouring the first fully American-made antimony ingot in almost 10 years, placing the ASX-listed junior squarely in Washington’s headlights as the country pushes for critical mineral self-sufficiency.’

Looking at recent news from United States Antimony Corporation (NYSE American: UAMY) (NYSE Texas: UAMY), the Company just announced they submitted a confidential, non-binding, indicative proposal to acquire 100% of the share capital of Larvotto Resources Limited by way of a scheme of arrangement under the Australian Corporations Act 2001.

From the news:
Under the Proposal, Larvotto shareholders would receive Six (6) USAC shares for every One Hundred (100) Larvotto shares which represents a significant premium to (i) Larvotto’s last equity capital raise announced on 25 July 2025 (ii) recent stock trading price ranges. The terms of the proposed transaction are subject to the negotiation and execution of a binding scheme implementation deed, Larvotto shareholder approval, regulatory approvals and customary closing conditions.

USAC has recently acquired approximately 10.0% of Larvotto’s total issued share capital with cash in the open market which USAC believes makes USAC Larvotto’s largest single shareholder.

Another Australian dual listed antimony stock, Nova Minerals Limited (NASDAQ: NVA) (ASX: NVA) (FSE: QM3), turned heads in the sector when it announced recently that its 100% owned US subsidiary Alaska Range Resources, LLC (ARR), had been awarded US$43.4 million in Defense Production Act Title III funding by the US Department of War (DoW) to produce antimony trisulfide at its Estelle Gold and Critical Minerals Project (Estelle Project) in Alaska.

From the news:
The award will enable ARR to accelerate development of a fully integrated US antimony supply chain to extract, concentrate, and refine stibnite to produce military grade antimony trisulfide to assist in meeting the US defense industrial base demands.

Nova CEO, Mr. Christopher Gerteisen, commented: ‘We are proud to have ARR partner with the U.S. Department of War to help secure a fully domestic, redundant supply chain for the munitions and other defense products our troops need to keep our nation and allies safe, as well as future supply to the US industrial base for a wide range of traditional and high-tech applications, including semiconductors and energy systems.

‘This award will fund the initial phase of the Company’s strategy to establish a full spectrum state of the art antimony mining and refining hub based in Alaska to supply refined antimony products to the US industrial base and beyond. After conducting rigorous vetting and technical due diligence of the Estelle Project, ARR is proud to be the recipient of this award, which provides further confidence in the quality of antimony mineralization and highlights the potential scale and scope of future antimony production from the Estelle Project.’

Following Nova’s news, Locksley Resources (ASX: LKY,OTC:LKYRF) (OTCQX: LKYRF) announced that the company’s advancing metallurgical test work program being conducted on surface samples collected from the Desert Antimony Mine (DAM) Prospect at the company’s project in the Mojave Desert is producing concentrate grades believed to be significantly higher than comparable American projects (as reported in publicly available information from Perpetua (NASDAQ: PPTA) (TSX: PPTA), Nova Minerals (NASDAQ: NVA), US Antimony Corp (NYSE American: UAMY), Costerfield and Hillgrove.

From the news:
According to early results, excellent high grade final flotation concentrate of 68.1% antimony has been achieved from first pass rougher/regrind/cleaner flotation tests. The concentrate is 95% of technical maximum stibnite grade of 71.68% showing minimal impurities, significantly exceeding marketable sales requirements of a minimum of 55%.

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