Resource estimate supports near-term production strategy, long-term critical minerals development and deployment of the NVRO Process™

VANCOUVER, British Columbia, June 18, 2026 (GLOBE NEWSWIRE) -- NVRO Metals Limited (TSXV: NVRO), (“NVRO Metals” or the “Company”), a clean technology company focused on the recovery of precious and critical metals from sulfidic feedstock including ores, concentrates, mine waste and tailings, is pleased to announce the results of a draft independent mineral resource estimate (“MRE”) for the NVRO Metals Hub located in Australia’s Northern Territory following the completion of the Company’s previously announced acquisition (the “Acquisition”) of Northern Territory Resources Pty Ltd. (“NTR”).

The MRE has been prepared by Measured Group Pty Ltd (“Measured Group”), an independent mining consultancy that provides technical services and geographical modelling to the global mining industry, in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and has an effective date of May 31, 2026. The final report from Measured Group is expected on or before July 10, 2026.

The MRE confirms a combined Mineral Resource of approximately 77.6 million tonnes (measured, indicated and inferred) grading 1.69% copper-equivalent (CuEq) across oxide and sulfide domains containing copper, cobalt, silver, lead, nickel and zinc. Management believes the MRE represents a significant milestone in the development of the NVRO Metals Hub and provides independent validation of the scale, quality and strategic significance of the asset being acquired by NVRO Metals as part of the NTR acquisition.

Measured Group’s analysis was supported by:

360,000 drill meters
5,761 drill holes
1.5 million assays
A $60 million historical spend on database collection

Importantly 94.2% of the combined resource is measured or indicated.

Measured	40.48Mt	52.2%
Indicated	32.58Mt	42.0%
Inferred	4.51Mt	5.8%

Based on the MRE the implied in-situ metal resources are:

Copper	356,000 tonnes	Lead	1,823,000	tonnes
Zinc	310,000 tonnes	Cobalt	69,800	tonnes
Nickel	62,100 tonnes	Silver	20,951,000	oz

The MRE establishes the resource foundation for the Company’s near term copper, cobalt and nickel production from the oxides, the development of the sulfide resource, testing of NVRO Process^™ on the sulfide resource, potentially leading to long term production of Copper, Cobalt, Silver, Lead, Nickel and Zinc and development of the NVRO Metals Hub as a centralized critical minerals processing platform supporting the global critical minerals supply chain.

Highlights

Combined Mineral Resource of 77.6 million tonnes grading 1.69% CuEq.
Sulfide-domain Mineral Resource of 61.7 million tonnes grading 1.86% CuEq.
Oxide Mineral Resource of 15.9 million tonnes grading 1.01% CuEq.
Resource estimate consolidates Browns, Browns East, Area 55, & Mount Finch deposits within a tenement package held 100% by NTR.
Metallurgical recovery assumptions incorporated into copper-equivalent calculations.
Independent estimate prepared by Measured Group in accordance with NI 43-101 methodology.

Mineral Resource Summary

COMBINED TOTAL RESOURCE (Oxide + Sulfide)
Classification	Tonnes (Mt)	CuEq %	Cu %	Pb %	Zn %	Co %	Ni %	Ag g/t
Measured	40.48	1.90	0.39	2.94	0.62	0.09	0.08	11.08
Indicated	32.58	1.53	0.56	1.81	0.18	0.09	0.09	5.67
Inferred	4.51	0.90	0.28	0.97	0.12	0.06	0.10	4.19
COMBINED TOTAL RESOURCE	77.57	1.69	0.46	2.35	0.40	0.09	0.08	8.40

OXIDE MINERAL RESOURCE — effective May 31, 2026
Classification	Tonnes (Mt)	CuEq %	Cu %	Pb %	Zn %	Co %	Ni %	Ag g/t
Measured	0.88	1.39	0.90	1.29	0.07	0.10	0.11	-
Indicated	12.77	1.01	0.47	0.49	0.10	0.11	0.13	-
Inferred	2.25	0.83	0.43	0.37	0.12	0.08	0.12	-
Total (calculated)	15.90	1.01	0.49	0.52	0.10	0.11	0.13	-
(source-stated total, rounded)	15.90	1.01	0.49	0.52	0.10	0.11	0.13	-

SULFIDE MINERAL RESOURCE — effective May 31, 2026
Classification	Tonnes (Mt)	CuEq %	Cu %	Pb %	Zn %	Co %	Ni %	Ag g/t
Measured	39.60	1.91	0.38	2.98	0.63	0.09	0.08	11.33
Indicated	19.80	1.87	0.61	2.66	0.23	0.08	0.07	9.32
Inferred	2.27	0.96	0.12	1.56	0.12	0.05	0.07	8.35
Total (calculated)	61.67	1.86	0.45	2.82	0.48	0.09	0.07	10.57
(source-stated total, rounded)	61.67	1.86	0.45	2.82	0.48	0.09	0.07	10.57

Methodology & Assumptions

CuEq % = Cu% + Σ(metal grade × factor). Factor for base metals = (metal price x recovery %) ÷ Cu price (metals prices US$/lb).
Silver factor converts g/t to value vs the value of 1% Cu per tonne (g/t ÷ 31.1035 g/oz × Ag$/oz, over 22.0462 lb × Cu$/lb).
In-situ value basis based on forecast metallurgical recovery for every metal; no smelter / refining / freight deductions.
Separate copper equivalents for Oxide and Sulfide resources were developed owing to different metallurgical recoveries.
Oxide metallurgical recoveries: Cu 72%, Co 58%, Ni 21%.
Sulfide metallurgical recoveries: Cu 87%, Co 77%, Ni 77%, Pb 90%, Zn 86%, Ag 86%.
Pricing = CIBC long term consensus price as of June 1, 2026.
Copper Oxide Equivalent = Cu% + (Co% x 4.25) + (Ni% x 0.51).
Copper Sulfide Equivalent = Cu% + (Pb% x 0.2) + (Zn% x 0.25) + (Co% x 4.67) + (Ni% x 1.53) + (Ag g/t x 0.02)
"Total (calculated)" rows are tonnage-weighted from the category grades and may differ at the 2nd decimal from the source-stated rounded totals (shown in grey for reference).
Oxide carries no reported silver; Ag = 0 in oxide and combined silver grade is diluted by oxide tonnes accordingly.
Source: consolidated Oxide & Sulfide Mineral Resource statements, effective May 31, 2026.

Notes to the Mineral Resource Estimate

1. The Mineral Resources for Browns Oxide, which forms part of the Oxide Mineral Resource, were modelled in Leapfrog Geo and reported at a 0.5% copper-equivalent cut-off.
2. The Sulfide-domain Mineral Resource was modelled in Leapfrog Geo and reported at a 0.7% copper-equivalent cut-off.
3. The Mineral Resources for Area 55, Mt Fitch and Browns East, which form part of the Oxide Mineral Resource, were estimated within mineralization wireframes built at a nominal 0.5% copper-equivalent cut-off; no further cut-offs were applied.
4. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability, and there is no certainty that all or any part of the Mineral Resources will be converted into Mineral Reserves.
5. Tonnage and grade have been rounded to reflect the accuracy of the estimate, and totals may not sum exactly due to rounding.
6. The MRE was prepared under the supervision of Troy Lowien, Principal Geologist of Measured Group, an independent Qualified Person within the meaning of NI 43-101.

Qualified Person

The scientific and technical information contained in this news release, including the draft mineral resource estimate disclosed herein, has been reviewed and approved by Troy Lowien, BASc. (Hons.), MAIG, Principal Geologist of Measured Group. Mr. Lowien is independent of the Company and is a “qualified person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr Lowien is responsible for the mineral resource estimate. and has verified the underlying data, including QA/QC procedures, and is satisfied that the data is adequate for the purposes of the estimate. No limitations were imposed on Mr. Lowien’s data verification process, and Mr. Lowien considers the data adequate for the purposes of the mineral resource estimate.

Technical Report

The supporting technical report in respect of the MRE, prepared in accordance with NI 43-101, will be filed under the Company’s profile on SEDAR+ within 45 days, being the prescribed filing period.

NVRO Metals Limited
Figure 1: The NVRO Metals Hub located in Australia’s Northern Territory.

About NVRO Metals Limited

NVRO Metals Limited is a technology company focused on the recovery of precious and critical metals from mine waste, tailings and complex sulfidic materials. Through its proprietary NVRO Process™, centralized processing infrastructure and commercial deployment strategy, the Company is building a scalable critical minerals production, processing and recovery platform supporting global supply chain security.

Additional information, including the Company’s investor presentation and corporate profile, is available at www.nvrometals.com

CONTACTS:
Investor Cubed
Neil Simon, CEO
+1 647 258 3310
nsimon@investor3.ca
ir@nvrometals.com

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 release.

Forward-Looking Statements

This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities laws. Forward-looking information and forward-looking statements are collectively referred to herein as “forward-looking statements.” Forward-looking statements are generally identifiable by words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “potential,” “project,” “proposed,” “should,” “target,” “will,” “would,” “could,” and similar words, expressions or statements that certain actions, events or results may, could, would, should or will occur or be achieved.

Forward-looking statements in this news release include, but are not limited to, statements regarding: the proposed acquisition of the NVRO Metals Hub, including the implementation of the DOCA, completion of the acquisition and satisfaction or waiver of all conditions to closing; the receipt of all required regulatory, stock exchange, court, creditor, counterparty and other approvals, including acceptance of the TSXV; the expected timing and completion of the acquisition; the expected benefits and strategic significance of the NVRO Metals Hub; the significance of the independent Mineral Resource Estimate and its potential to support the Company’s development strategy; the expected filing and contents of the supporting technical report in respect of the Mineral Resource Estimate; the expectation that the final technical report will be filed within the prescribed filing period and will be consistent in all material respects with the disclosure in this news release; the Company’s planned near-term oxide restart strategy; the potential for the oxide Mineral Resource to support near-term production and operating cash flow; the potential development of the sulfide Mineral Resource; the potential for the sulfide Mineral Resource to support future development phases, expansion opportunities and long-term deployment of the NVRO Process™; the potential production of copper, cobalt, nickel, silver, lead and zinc products; the Company’s ability to refurbish, commission, restart and operate the existing hydrometallurgical processing facility and related infrastructure; the ability of the existing infrastructure to support near-term production, processing activities, third-party feedstock opportunities and deployment of the NVRO Process™; the Company’s ability to establish and operate the NVRO Metals Hub as a centralized precious and critical minerals processing platform; the Company’s ability to process Company-owned resources and third-party feedstocks; the Company’s ability to generate operating cash flow from the NVRO Metals Hub; the availability and completion of financing required to complete the acquisition and to refurbish, commission, restart, develop and initially operate the NVRO Metals Hub; the expected benefits of the Company’s centralized processing hub strategy; the potential application, commercialization and industrial-scale deployment of the NVRO Process™; the Company’s ability to establish additional processing hubs in other jurisdictions; and the Company’s broader commercial objectives and strategic growth plans.

Forward-looking statements are based on management’s current expectations, estimates, projections, assumptions and beliefs as of the date of this news release. These assumptions include, without limitation: the Company’s ability to complete the acquisition of the NVRO Metals Hub on the terms and timelines currently contemplated, or at all; the implementation of the DOCA and the satisfaction or waiver of all conditions to closing; the receipt of all required regulatory, stock exchange, court, creditor, counterparty and other approvals, including acceptance of the TSXV; the Company’s ability to obtain the financing required to complete the acquisition and to refurbish, commission, restart, develop and operate the NVRO Metals Hub on acceptable terms; the accuracy of the Mineral Resource Estimate and the technical, geological, metallurgical, engineering, operating, economic and financial assumptions underlying the Mineral Resource Estimate and the Company’s development plans; the accuracy and completeness of the underlying drill hole, assay, geological, metallurgical, historical and other technical data used to prepare the Mineral Resource Estimate; the reasonableness of the cut-off grades, metal prices, metallurgical recoveries, copper-equivalent calculations, resource classifications and other assumptions used in the Mineral Resource Estimate; the availability, grade, continuity, recoverability and processing characteristics of the oxide and sulfide Mineral Resources; the supporting technical report in respect of the Mineral Resource Estimate being filed within the prescribed period and being consistent in all material respects with the disclosure in this news release; the availability, condition, capacity and suitability of the existing hydrometallurgical processing facility and related infrastructure for the Company’s planned operations; the Company’s ability to implement the planned near-term oxide restart strategy; the Company’s ability to refurbish, commission, restart and operate the NVRO Metals Hub on acceptable timelines and costs; the Company’s ability to achieve anticipated production rates, throughput, recoveries, product specifications, operating costs and capital costs; the Company’s ability to produce copper cathode and cobalt, nickel and other intermediate or saleable products as currently contemplated; the ability of the existing infrastructure to support near-term production, third-party processing opportunities and deployment of the NVRO Process™; the Company’s ability to deploy, commercialize and operate the NVRO Process™ at commercial or industrial scale; the availability of required feedstock, reagents, equipment, labour, contractors, utilities, water, power, transportation and other inputs; the Company’s ability to obtain, maintain and comply with required permits, licences, land access rights and environmental, regulatory and governmental approvals; the Company’s ability to establish the NVRO Metals Hub as a centralized precious and critical minerals processing platform; the Company’s ability to identify and advance third-party processing opportunities and future processing hubs; and market conditions, commodity prices, foreign exchange rates, interest rates, inflation, logistics, supply chains, regulatory conditions and general economic, political and business conditions remaining sufficiently supportive of the Company’s plans.

Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, without limitation: the risk that the acquisition of the NVRO Metals Hub may not be completed on the terms currently contemplated or at all; the risk that the DOCA may not be implemented as currently contemplated or at all; the risk that conditions to closing may not be satisfied or waived; the risk that required regulatory, stock exchange, court, creditor, counterparty or other approvals, including acceptance of the TSXV, may not be obtained on the timelines currently expected or at all; the risk that the Company may not obtain the financing required to complete the acquisition, refurbish, commission, restart, develop and operate the NVRO Metals Hub on acceptable terms or at all; risks associated with Mineral Resource estimates, including that Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability, and that there is no certainty that all or any part of the Mineral Resources will be converted into Mineral Reserves; risks that the final technical report may not be filed within the expected timeframe or may contain information that differs materially from the disclosure in this news release; risks associated with the accuracy, completeness and reliability of technical, geological, metallurgical, resource, engineering, operating, economic and financial assumptions and data; risks that actual tonnage, grades, recoveries, continuity, classification, cut-off grades, metal prices, copper-equivalent calculations or other parameters may differ materially from those currently estimated; risks that the oxide Mineral Resource may not support near-term production or operating cash flow as currently expected; risks that the sulfide Mineral Resource may not support future development phases, expansion opportunities or deployment of the NVRO Process™ as currently expected; risks that refurbishment, commissioning, restart, development and operating activities may be delayed, more costly than expected or unsuccessful; risks relating to the condition, suitability, capacity and economic viability of the existing hydrometallurgical processing facility and related infrastructure; risks that actual production, throughput, grades, recoveries, product specifications, operating costs, capital costs, timing or other operating or economic outcomes may differ materially from current estimates and expectations; risks relating to the availability, quality, grade, recoverability and processing characteristics of Company-owned resources and any third-party feedstocks; risks that the NVRO Process™ may not be successfully deployed, commercialized or operated at commercial or industrial scale; technical, metallurgical, operational, environmental, health and safety risks associated with processing complex materials; risks that the Company may not generate operating cash flow from the NVRO Metals Hub on the timelines or in the amounts currently expected or at all; permitting, environmental, regulatory, governmental, community, land access, native title, stakeholder and counterparty risks and delays; risks relating to title, tenure, access, rehabilitation, reclamation, mine closure obligations, environmental liabilities and other legacy liabilities; risks associated with operating in Australia and other jurisdictions; risks that the Company may not be able to establish the NVRO Metals Hub as a centralized precious and critical minerals processing platform; risks that third-party processing opportunities, customer relationships or additional processing hubs may not be advanced or realized as currently contemplated or at all; changes in commodity prices, foreign exchange rates, interest rates, inflation, taxes, royalties, operating costs, capital costs, market conditions, logistics and supply chain conditions; competition for projects, feedstocks, infrastructure, financing, equipment, contractors, personnel and strategic partners; reliance on key personnel, contractors, consultants and technical advisors; changes in laws, regulations, government policy, permitting requirements or stock exchange requirements; market price volatility in the Company’s securities; general economic, political, market and business conditions; and other risks and uncertainties beyond the Company’s control.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results, performance, achievements, events or developments not to be as anticipated, estimated, forecasted or intended. Forward-looking statements are not guarantees of future performance. Readers are cautioned not to place undue reliance on forward-looking statements. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9ebc83e4-6daf-4a4b-9bcf-2ef056ad94fc

NVRO Metals Announces Independent NI 43-101 Mineral Resource Estimate of 77.6 Million-Tonne Polymetallic Resource at the NVRO Metals Hub