Golcap to Acquire Itaituba Vanadium Project in Brazil

Vancouver, British Columbia--(Newsfile Corp. - October 14, 2025) - Golcap Resources Corp. (CSE: GCP) (the "Company" or "Golcap") is pleased to announce that it has entered into an agreement whereby it has been assigned an option to acquire up to a 100% interest in the Itaituba Vanadium Titanium Project located in the Tapajos Mineral Province of northern Brazil from Lara Exploration Ltd. (TSXV: LRA) ("Lara"), pursuant to the terms of an option agreement originally entered into between Mineral Road Partners Inc. ("MRP") and Lara on August 25, 2025 (the "Option Agreement").

Itaituba Project

The Itaituba Project covers a gabbro intrusive complex which hosts both massive and disseminated vanadium-rich magnetite sill-like bodies, with significant titanium mineralisation as well. Early work focused on the massive magnetite sills within the licence, but recent re-logging, sampling and Davis-tube Recovery work on 4 earlier drill holes has indicated there is vanadium mineralisation associated with the disseminated magnetite which is highly amenable to magnetic upgrading. Ground magnetic surveys have suggested the disseminated magnetite units are much more extensive than the massive magnetite, and a step-out drill program is underway to test extensions.

The Itaituba Project has reported Davis-tube Recovery results grading up to 1.15% Vanadium Pentoxide (V₂O₅) from drill holes. Accepting assignment of the Option Agreement continues Golcap's strategic move into vanadium and long duration energy storage. It also adds titanium, another critical metal with significant aerospace usage.

Drilling

A team has been mobilised to the Itaituba Project, with plans to complete approximately 1,200 metres of diamond and reverse circulation drilling in the coming weeks, further surface sampling, mapping, and a Lidar topographic survey.

Infrastructure

Itaituba is located just south of the navigable Tapajos River, approximately 50 kilometres by road to the port at Miritituba at the junction with the Amazonas River, which supports a significant export hub for soybeans and corn, with other nearby river ports shipping bauxite to world markets. River-based shipping is an important consideration for the future development of the Itaituba Project.

The project area itself consists mainly of grassland used for cattle grazing with some areas of regrowth scrub, with the topography dominated by a low ridge. The city of Itaituba, with an estimated population of 101,000, is a traditional center for the region's many small gold mines.