TORONTO, ON / ACCESS Newswire / October 1, 2026 / CUNICO METALS INC. ("Cunico" or the "Company") is pleased to announce that a recently completed HeliTEM airborne electromagnetic survey has identified strong conductors in both the Horden Extension Zone and the northeastern sector of its 100%-owned Véronneau Property, located in the Eeyou Istchee James Bay region of Quebec. The conductors occur in geological settings prospective for nickel-copper-platinum group element (PGE) mineralization, including the differentiated gabbro-pyroxenite sill of the Horden Extension Zone and interpreted komatiitic sequences in the northeastern sector.

The Company plans to test selected targets through a Q4 diamond drilling program comprised of 3,000 to 5,000 metres, with an initial phase scheduled for fall 2026, followed by a ground-based phase in winter 2027.

HIGHLIGHTS (see Figures 1 to 4 - please visit our website for larger Figures, www.cunicometals.com/images)

  • A 1,901-line-kilometre HeliTEM airborne electromagnetic and magnetic survey was completed by Xcalibur Multiphysics Inc. over three exploration blocks on the Véronneau Property: Horden Extension, Central and Northeast. The survey was flown from June 2 to 9, 2026, with 100 metres apart line spacing.
  • Numerous bedrock electromagnetic responses were identified across all three blocks, with apparent conductors estimates exceeding 1,000 siemens in each block. The results provide a basis for selecting high-priority exploration targets through coincidence geological, magnetic and historical drilling data.
  • Horden Extension Block - Conductors identified in this block are being evaluated in relation to the differentiated gabbro-pyroxenite sill and its prospective basal contact. This geological setting is favourable for copper-nickel-PGE element sulphide mineralization (see Figure 3).
  • Central Block - The survey identified conductive features that are being assessed against mapped geology, magnetic signatures and historical exploration results to establish their geological significance and exploration priority (see Figure 3).
  • Northeast Block - Conductors identified in this block are being evaluated in relation to interpreted komatiitic sequences and ultramafic units prospective for nickel-copper-PGE sulphide mineralization (see Figure 4). There is ongoing Drone Mag being conducted over the NE Block to further identify drill ready targets in the 100km2 area.
  • Selected priority targets are planned to be tested by diamond drilling with an initial phase in fall 2026, followed by a ground-based phase in winter 2027.

"These HeliTEM results provide a clear focus for the next phase of exploration at Véronneau," said John Tait, Chief Executive Officer of Cunico. "The survey has identified conductive targets across three exploration blocks within the Véronneau Property (See Figure 2), including the Horden Extension. Multiple kilometers of conductive targets have been identified around and along strike from the Horden Deposit, consistent with the geological setting and areas where we would expect the system to continue. and northeastern komatiitic sequences. Our next step is to integrate these results with our geological knowledge and historical drilling data to select priority targets for the planned drill program."

Véronneau Property

The 100%-owned Véronneau Property is located in the Eeyou Istchee James Bay region of Quebec, approximately 200 kilometres north of Matagami, near kilometre 212 of the Billy-Diamond Highway. Covering approximately 263 km², the Véronneau Property encompasses a substantial portion of the Colomb-Chaboullié greenstone belt and offers exploration potential for both base and precious metals.

The Horden Extension Zone covers the interpreted continuation of the differentiated gabbro-pyroxenite sill hosting Pivotal Metals Limited's ("Pivotal") Horden Lake deposit on the neighbouring property. On July 7, 2026, Pivotal announced a 42% increase in its total Mineral Resource Estimate to 52 million tonnes grading 1.05% copper equivalent (CuEq)1. This is significant for the Company as Horden's resource estimate is over a strike of 900m and the HeliTEM has outlined highly responsive anomalies over the entire interpreted Horden Sill, over 20 kilometers. Pivotal reported that resource growth was driven by drilling an electromagnetic conductor in 2025 and that the deposit remains open along strike and at depth. This geological context supports Cunico's exploration focus on electromagnetic conductors associated with the sill and its prospective basal contact.

In the northeastern sector, interpreted komatiitic sequences and ultramafic units provide additional targets for nickel-copper-PGE mineralization. The Véronneau Property also hosts gold showings and geological settings prospective for volcanogenic massive sulphide (VMS) mineralization. Exploration is focused on integrating geological information, historical drilling and the results of the 2026 HeliTEM survey to prioritize drill targets.

* The Horden Lake deposit is owned by Pivotal and is not part of the Véronneau Property. Mineral resources and mineralization on neighbouring properties are not necessarily indicative of mineralization on Cunico's Véronneau Property.

The scientific and technical information contained in this press release has been reviewed and approved by Michel Chapdelaine, P.Geo., B.Eng., a consultant acting as Vice President, Exploration for Cunico and a Qualified Person as defined by National Instrument 43-101.

About Electromagnetic Interpretation

Electromagnetic anomalies were selected and reviewed by Xcalibur using the measured electromagnetic responses, decay characteristics, magnetic data and terrain-clearance information. Apparent conductance, depth and dip estimates were derived, where applicable, using a simplified thin-plate model. These estimates are subject to uncertainty where conductive sources have complex geometries or overlapping responses. Electromagnetic conductors are exploration targets, and their sources must be established through further investigation and drilling.

About Cunico Metals Inc.

Cunico Metals Inc. is a junior exploration company that is focused on identifying and developing mineral properties in Québec with a specific interest towards the advancement of its Véronneau Property, along with identifying and acquiring properties with copper, nickel, PGE and cobalt potential.

On Behalf of the Board of Directors of the Company:

John Tait, Chief Executive Officer and Director

For more information, please visit our website at www.cunicometals.com or contact Mr. John Tait at info@cunicometals.ca

¹ Source: Pivotal Metals Limited (ASX: PVT), "Major Copper Resource Growth at Horden Lake," July 7, 2026, Table 1 and "Metal Equivalents," Table 13, p. 18.

Pivotal calculated copper equivalent using the following formula: CuEq (%) = Cu (%) + Ni (%) × 0.97 + Au (g/t) × 0.78 + Pd (g/t) × 0.27 + Pt (g/t) × 0.23 + Ag (g/t) × 0.0013 + Co (ppm) × 0.0002. Assumed metal prices were US$11,000/t Cu, US$17,500/t Ni, US$4,000/oz Au, US$1,500/oz Pd, US$1,750/oz Pt, US$60/oz Ag and US$45,000/t Co. Assumed metallurgical recoveries were 90% Cu, 55% Ni, 60% Au, 55% Pd, 40% Pt, 65% Ag and 40% Co, with sales costs equivalent to 10% of each metal price. Pivotal stated that all metals included have reasonable potential to be recovered and sold. These assumptions relate solely to Pivotal's Horden Lake deposit and do not establish metallurgical recoveries for Cunico's Véronneau Property.

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 Information

This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. Examples of forward-looking statements include, among others, statements regarding the Company's proposed drilling program.

Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company's current beliefs, expectations and assumptions regarding the future of the Company's business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of the Company's control. The Company's actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, readers should not place undue reliance on any of these forward-looking statements.

Any forward-looking statement made in this press release is based only on information currently available to the Company and speaks only as of the date on which it is made. Except as required by applicable securities laws, the Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether because of new information, future developments or otherwise.

SOURCE: Cunico Metals Inc.



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