Borealis Mining Commences Mobilization of Mining Equipment at Borealis Gold Mine

Vancouver, British Columbia--(Newsfile Corp. - January 21, 2026) - Borealis Mining Company Limited (TSXV: BOGO) (OTC Pink: BORMF) (FSE: L4B0) (the "Company" or "Borealis") is pleased to announce that mobilization of mining equipment has commenced at the Borealis Gold Mine in Nevada, marking a key milestone toward the restart of gold mining operations. Heavy mining equipment, production drill rigs and support equipment are now arriving on site as the Company prepares for initial mining activities.

Borealis has engaged Ledcor CMI Inc. ("Ledcor") as its mining contractor. Ledcor is a well-established North American mining and construction contractor with extensive experience in open-pit mining operations, including multiple projects in Nevada. Under the current scope of work, Ledcor will be responsible for mine development, production drilling and blasting, material movement, crushing, stacking on the leach pad, and ongoing operational support as the project progresses toward production. Safety remains a core operational priority for Borealis, and in 2025 Borealis personnel and contractors collectively worked a total of 37,461 hours without a lost-time injury (LTI), reflecting the Company's commitment to disciplined site execution and a strong safety culture.

In parallel with site mobilization, Borealis commenced confirmatory drilling at the Borealis Mine in early January. This drilling program is designed to validate historical data, refine grade control, and support short-term mine planning ahead of initial mining activities. Site activities over the coming weeks will focus on equipment commissioning, final site preparations, and the commencement of production drilling, with the first production blast anticipated to occur in the coming weeks, subject to final scheduling and operational readiness.

Kelly Malcolm, President and CEO of Borealis, commented: "Mobilizing equipment to site is a significant operational milestone and a clear indication that Borealis is moving into execution. Safety is foundational to how we operate, and completing over 37,000 work hours in 2025 without a lost-time injury reflects the discipline of our team and our approach to site readiness. With confirmatory drilling underway and production drilling preparations advancing, we are focused on safely and efficiently progressing toward our first blast in the coming weeks."