Enduro Metals Provides Update on Amended NSR Agreement on Its Newmont Lake Project, British Columbia

Vancouver, British Columbia--(Newsfile Corp. - June 18, 2026) - Enduro Metals Corporation (TSXV: ENDR) ("Enduro Metals" or the "Company") is pleased to announce that it has entered into a second amending agreement (the "Second Amending Agreement") dated June 18, 2026 with Oreterra Metals Corp. (TSXV: OTMC) ("Oreterra") with respect to Oreterra's royalty interest in the Company's Newmont Lake Project (the "Property").

The Second Amending Agreement further modifies the terms of the net smelter return royalty agreement dated January 31, 2022, between the Company and Orterra, as previously amended on April 27, 2026 (the "NSR Agreement"). The Second Amending Agreement revises the terms of the NSR Agreement by establishing a deemed floor price of $0.135 for any share consideration that could potentially be payable to Orterra pursuant to the NSR Agreement.

The Company is also pleased to announce that it has received the conditional acceptance of the TSX Venture Exchange (the "Exchange") for the NSR Agreement, as amended by the Second Amending Agreement and has issued an aggregate of 3,900,000 common shares of the Company (the "Consideration Shares") to Orterra and made an initial cash payment of $175,000 in accordance with the terms of the amended NSR Agreement. The Consideration Shares are subject to a statutory hold period of four months and a day from the date of issuance in accordance with applicable securities laws. In addition, the Consideration Shares are subject to a contractual hold period and will be released in equal 25% tranches every six months commencing October 27, 2026.

Summary of Amended NSR Agreement

As previously disclosed on April 27, 2026, under the terms of the amended NSR Agreement, Enduro Metals has secured the right to repurchase 50% of the 2% NSR held by Oreterra for a one-time payment of $8,000,000 at any time prior to the commencement of extraction, when product is produced from the Property.

As amended, the NSR Agreement replaces share-based resource linked obligations (formerly 2,000,000 shares on publication of a NI 43-101 compliant resource estimate which exceeds 1,000,000 ounces of gold equivalent resources, with an additional 1,000,000 shares for each additional 1,000,000 ounces of gold equivalent resources) with a simplified and more predictable structure aligned with key project milestones.

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