Anteros Metals Commences Deep Drilling at Seagull Property

St. John's, Newfoundland and Labrador--(Newsfile Corp. - May 12, 2026) - Anteros Metals Inc. (CSE: ANT) ("Anteros" or the "Company") is pleased to announce that drilling operations are actively underway on the Phase 2 deep drilling program at the Company's Seagull Property in northwestern Ontario, with the program now advancing beyond the historical end-of-hole depth toward priority Phase 2 targets.

The Company initially commenced the Phase 2 program with the planned cleanout and extension of historical drill hole WM00-10, as previously announced on May 5, 2026. During preparatory work, the Company determined that historical casing conditions in WM00-10 would limit the hole's suitability for the full planned deepening program. As a result, Anteros has advanced its previously identified contingency plan and selected historical drill hole WM08-27 as the preferred Phase 2 drill platform. The extension hole, which uses the same casing as the original WM08-27 drill hole, has been designated WM08-27EXT. WM08-27 was drilled to a historical depth of 602 metres and provides a favourable technical alternative due to its location relative to a large, deep-seated acoustic low-velocity anomaly and because it terminated in ultramafic peridotite before reaching the interpreted basal intrusive contact. The Company confirms drilling has now advanced beyond the historical end-of-hole depth, with drilling currently ongoing at approximately 669 metres in previously untested ultramafic rocks.

The Phase 2 program is designed to test three distinct target zones within the Seagull Property:

1. The untested basal intrusive contact of the Seagull Intrusion, considered prospective for platinum group element ("PGE") and nickel-copper sulphide mineralization;
2. The interpreted structural and stratigraphic horizon associated with the previously reported pressurized gas occurrence intersected in drill hole RM26-01 at approximately 877 metres;
3. A large deep-seated low acoustic velocity geophysical anomaly interpreted to represent a structurally altered, fractured or potentially serpentinized ultramafic zone.

The Company further reports that LTD Production Services has mobilized and installed gas pressure monitoring and gas sampling equipment on site, including a pressure tank and flare stack. LTD will oversee gas handling and monitoring during drilling operations to support the safe control of any pressurized gas encountered during the deep target program. The ongoing drill program is being conducted by Chibougamau Diamond Drilling Ltd., an experienced deep-drilling contractor.

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