EDM Announces Positive Ore Sorting Testwork Results for the Scotia Mine

Halifax, Nova Scotia--(Newsfile Corp. - September 28, 2026) - EDM Resources Inc. (TSXV: EDM) (FSE: P3Z) (OTCQB: EDMFF) ("EDM" or the "Company") is very pleased to announce results from ore sorting ("OS") testwork completed by SGS Canada Inc. ("SGS") and Steinert USA laboratories on mineralized material from the Company's 100% owned Scotia Mine in Nova Scotia.

The testwork was undertaken to evaluate the potential for XRF sensor-based ore sorting with AI-assisted programming using Steinert ore sorting technology in Kentucky, USA, to reject waste material prior to downstream mineral processing while retaining a high proportion of the contained zinc and lead. The results indicate that ore sorting using XRF has the potential to materially reduce the mass of material reporting to downstream processing while upgrading the zinc and lead grades of the retained material.

HIGHLIGHTS OF THE ORE SORTING TESTWORK RESULTS

• Resulted in a zinc grade of 20.7%, an increase of 26.1%
• Resulted in a lead grade of 19.4%, an increase of 27.9%
• Comparing the ore sorting results to the previous DMS results:
  • Outperformed the increase in the zinc grade by 41.8%
  • Outperformed the zinc recovery by 6.7%
  • Similar mass rejection of material
• Ore sorting is currently estimated to have an approximately 57% lower capital cost than DMS, representing preliminary estimated capital savings of approximately $2 million
• Ore sorting provides a highly adaptable pre-concentration solution utilizing modern XRF sensor-based sorting technology
• Ore sorting has the potential to increase the zinc and lead grades of material reporting to the grinding and flotation circuits, which could increase concentrate production per tonne of material processed

The President and CEO, Mr. Mark Haywood, stated: "These ore sorting results represent another encouraging step in our work to optimize the future processing configuration for the Scotia Mine using the latest technology available. The ability to reject a meaningful portion of the feed mass while retaining a high percentage of the contained zinc and lead has the potential to reduce the amount of material requiring downstream processing and increase the grade of material entering the mill. Importantly, these results complement the positive DMS testwork previously completed by SGS and provide EDM with another potential pre-concentration technology to evaluate as part of the updated Pre-Feasibility Study. We believe the combination of our existing processing infrastructure with modern ore sorting and pre-concentration technologies presents a significant opportunity to improve the efficiency and economics of a future Scotia Mine operation."

ORE SORTING RESULTS

SGS has completed assays of the various ore sorting products and, together with the previously completed head and fines assays, prepared metallurgical balances for the ore sorting testwork. The metallurgical balances evaluate both the ore sorting stage independently and the overall process after incorporating the fines bypass stream.

The ore sorter stage metallurgical balance indicates that the combined retained products graded 19.4% lead and 20.7% zinc, resulting in recoveries of 94.8% of the lead and 93.2% of the zinc. The retained material represented a grade increase of 35.5% for lead and 33.2% for zinc relative to the ore sorter feed.

The ore sorter global metallurgical balance, which includes the fines bypass stream, indicates that 25.2% of the original feed mass was rejected to the drop waste product, with the combined retained ore (eject) products representing 58.8% of the original feed mass. The retained material + fines represented a grade increase of 27.9% for lead and 26.1% for zinc relative to the ore sorter feed.

Table 1: Global Balance (Cumulative Products)

The Company believes the results demonstrate the potential for sensor-based ore sorting to reject a meaningful proportion of waste material before downstream processing while retaining the substantial majority of the contained zinc and lead.

COMPARISON WITH PREVIOUS DMS TESTWORK

The ore sorting program follows the successful Heavy Liquid Separation ("HLS") and Dense Media Separation ("DMS") testwork previously completed by SGS on material from the Scotia Mine as announced on August 11, 2025.

The 2025 DMS pilot plant testwork demonstrated that pre-concentration could potentially reduce the quantity of material requiring downstream flotation while increasing the grade of the resulting flotation feed. At the selected DMS operating conditions, the flotation feed comprising the DMS sinks and fines represented 74.7% of the original feed mass, corresponding to a mass rejection of approximately 25.3%. The DMS process + fines retained 88.4% of the zinc and 99.7% of the lead and increased the flotation feed grades by 18.4% for zinc and 33.5% for lead.

The DMS pilot program followed earlier HLS testing, with SGS selecting a 3.3 mm crush size and an optimal DMS specific-gravity cut point of 2.77.

The following table summarizes the principal results from the two pre-concentration programs.

Table 2: Summary of Results Comparing Global Ore Sorting to Global DMS

The Company cautions that the ore sorting and DMS results were generated from different testwork programs using different feed samples and operating conditions and should therefore not be interpreted as a direct like-for-like comparison. Rather, the results demonstrate two potential methods of pre-concentrating Scotia Mine mineralization prior to downstream processing.

The DMS process separates mineralized and waste material based primarily on differences in density, whereas sensor-based ore sorting evaluates individual particles using detectable physical or compositional characteristics. The different technologies may therefore provide alternative or potentially complementary approaches to reducing the amount of waste material entering downstream processing.

POTENTIAL APPLICATION AT THE SCOTIA MINE

EDM is evaluating the ore sorting results with SGS and its consultant team as part of its broader review of potential improvements to the Scotia Mine processing flowsheet.

The Scotia Mine already has an existing approximately 2,700 tonne-per-day mill concentrator, and the Company's previous DMS work contemplated installation of a pre-concentration stage ahead of the existing flotation circuit.

Ore sorting provides another potential approach to pre-concentration. Subject to further engineering, metallurgical assessment and economic evaluation, potential benefits could include:

• reducing the tonnage of waste material entering downstream crushing, grinding and flotation;
• increasing lead and zinc grades in material delivered to downstream processing;
• reducing energy, reagent and material-handling requirements per unit of contained metal;
• potentially increasing the effective capacity of existing downstream processing infrastructure; and
• reducing the quantity of waste material requiring processing and subsequent management.

The Company intends to incorporate the ore sorting testwork into its ongoing evaluation of processing alternatives for the Scotia Mine and determine the appropriate configuration for assessment in the updated Pre-Feasibility Study.

QUALIFIED PERSON

Mr. Curtis Mohns, P.Eng., Principal Metallurgist for SGS Canada Inc. and a Qualified Person as defined under NI43-101, has approved the technical information contained in this news release related to the ore sorting and DMS testwork metallurgical results.

CORPORATE UPDATE

Pursuant to the Company's Stock Option Plan and subject to the approval of the TSX Venture Exchange, the Board of Directors has granted an aggregate of 1,500,000 stock options to certain officers, directors, consultants and employees of the Company and its subsidiary. The options are exercisable at a price of C$0.70 per common share and expire on September 25, 2031. The options were granted as follows: 300,000 to Mr. Mark Haywood, director, President and Chief Executive Officer; 100,000 to Mr. Arnab De, Chief Financial Officer; 200,000 to Mr. Mark Van Remortel, director; 300,000 to Mr. Eugene Chen, director; 200,000 to Mr. Justin Barragan, director; 200,000 to Mr. Manish Grigo, director and consultant providing corporate development services to the Company; and 200,000 to two employees of the Company's subsidiary. The options vest in accordance with the terms of the Company's Stock Option Plan and the policies of the TSX Venture Exchange.

Pursuant to the Company's RSU incentive plan, the Board of Directors granted an aggregate of 575,000 restricted stock units ("RSUs") in the Company to certain officers, directors and consultants of the Company. The RSUs vested on September 25, 2026. Any common shares issued upon settlement of the RSUs will be subject to a hold period of four months and one day from the date of grant. The RSUs were granted as follows: 200,000 to Mr. Mark Haywood, director, President and Chief Executive Officer; 50,000 to Mr. Arnab De, Chief Financial Officer; 50,000 to Mr. Mark Van Remortel, director; 75,000 to Mr. Eugene Chen, director; 50,000 to Mr. Justin Barragan, director; 150,000 to Mr. Manish Grigo, director and consultant providing corporate development services to the Company.

About EDM Resources Inc.

EDM is a Canadian exploration and mining company that holds a 100% interest in the Scotia Mine and related facilities near Halifax, Nova Scotia. Through its wholly owned subsidiary, EDM also holds several prospective exploration licenses near its Scotia Mine and in the surrounding regions of Nova Scotia.

The Company's common shares are traded on the TSX Venture Exchange under the symbol "EDM", the Frankfurt Exchange under the symbol "P3Z", and the OTCQB® Venture Market under the symbol "EDMFF". For more information, please contact:

The Company's corporate filings and technical reports can be viewed on the Company's SEDAR+ profile at www.sedarplus.ca.

Further information on EDM is also available on the Company's website and social media channels as follows:
Internet at www.EDMresources.com
Facebook at http://www.facebook.com/EDMresources.inc
X at https://www.x.com/EDMresources
LinkedIn at http://www.linkedin.com/company/EDMresources
YouTube at https://youtube.com/@edmresources?si=Bvyighil3mSoOKnD

CAUTIONARY STATEMENTS

Neither the 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 news release.

This news release may contain forward-looking statements, including plans, objectives, estimates, and expectations regarding EDM Resources Inc.'s future activities. Such statements are identified by words like "believes," "expects," "plans," "estimates," "may," "could," or similar terms. Forward-looking statements are subject to risks, uncertainties, and assumptions that could cause actual results to differ materially from those anticipated. These include, but are not limited to, mineral resource estimates, exploration and development results, project timing, market conditions, commodity prices, financing, and operational risks. For a discussion of risk factors, please refer to EDM's Management Discussion and Analysis for the year ended December 31, 2025. EDM does not guarantee the accuracy of forward-looking statements and readers should not place undue reliance on them.

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