Apogee Minerals Expands Knife Lake Copper Project Land Package Through Acquisition of Adjacent Mineral Claims from Eagle Plains Resources

Vancouver, British Columbia, Oct. 20, 2026 (GLOBE NEWSWIRE) — Apogee Minerals Ltd. (“Apogee” or the “Company”) (TSXV: APMI) is pleased to announce that it has entered into a mineral property purchase and sale agreement dated October 19, 2026 (the “Purchase Agreement”) with Eagle Plains Resources Ltd. (“Eagle Plains”) (TSXV: EPL), an arm’s length party, pursuant to which Apogee will acquire a 100% right, title and interest in and to five (5) mineral claims comprising approximately 1,965 hectares located adjacent to and within the Company’s Knife Lake Copper Project in east-central Saskatchewan (the “Eagle Plains Claims”), subject to a 2.5% net smelter returns royalty in favour of Eagle Plains as described below (the “Transaction”).

Location Map of Eagle Plains Claims to be Acquired at Knife Lake Project:
https://www.apogeemineralsltd.com/_resources/news/APMI-Eagle-Plains-Claims-Location-Map.jpgThe Eagle Plains Claims consist of two (2) claims (MC00023467 and MC00022977) located immediately adjacent to the northern portion of the Knife Lake Project, and three (3) claims (MC00023444, MC00023445 and MC00023447) located within the existing boundary of the Knife Lake Project, near the south end of the Knife Lake Deposit and immediately east of it. The acquisition consolidates the Company’s land position around the Knife Lake Deposit and adds prospective ground along the same stratigraphy that hosts the Knife Lake Deposit and the Company’s regional targets. Upon closing of the Transaction, and together with the fifty-four (54) claims comprising the Knife Lake Project currently under option from Trident Resources Corp., the Company’s land position at Knife Lake will total fifty-nine (59) mineral claims comprising approximately 37,220 hectares.

Brady Rak, Chief Executive Officer of Apogee, commented: “Consolidating the ground around the Knife Lake Deposit has been a priority since we optioned the project. Two of these claims sit on our northern boundary and the other three fill gaps inside the existing property, all along the same geological trend that hosts the known mineralization. With the land package expected to exceed 37,000 hectares on closing, we have room for new discoveries, and our first order of business is following up on the high-grade copper intercepts drilled by previous operators. Eldorado Gold’s roughly C$3.8 billion acquisition of Foran Mining and its McIlvenna Bay VMS deposit earlier this year says a great deal about how the majors view Saskatchewan and the prospectivity of this part of the province. Combine that with a copper price supported by real demand growth and limited new supply, and this is a good time to be advancing a near-surface copper deposit with more than 400 drill holes behind it.”

Transaction Highlights:

Pursuant to the Purchase Agreement, in consideration for a 100% interest in the Eagle Plains Claims, Apogee will pay to Eagle Plains $20,000 in cash (the “Cash Consideration”), issue to Eagle Plains 1,000,000 common shares of the Company (the “Shares”) and grant to Eagle Plains a 2.5% net smelter returns royalty on the Eagle Plains Claims (the “NSR Royalty”), as follows:

(1) The Cash Consideration is payable, and the Shares are to be issued within five (5) business days following receipt of acceptance of the TSX Venture Exchange (the “TSXV”), in each case on or before the Closing Date and no later than thirty (30) days from the date of the Purchase Agreement. Closing is expected to occur on or before November 16, 2026.
(2) All Shares issued pursuant to the Transaction will be subject to a hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities legislation.
(3) The NSR Royalty will be granted pursuant to a net smelter returns royalty agreement to be entered into at closing (the “Royalty Agreement”). Apogee will have the right, at any time, to buy down 1.0% of the NSR Royalty for a cash payment of $2,000,000, thereby reducing the NSR Royalty from 2.5% to 1.5%.

The NSR Royalty will be calculated and paid on a calendar quarter basis following the commencement of commercial production on the Eagle Plains Claims. No finder’s fees are payable in connection with the Transaction.

Closing of the Transaction remains subject to the receipt of acceptance of the TSXV and the satisfaction of customary closing conditions, including the transfer of the Eagle Plains Claims to the Company through the Mineral Administration Registry Saskatchewan (MARS) system. The Eagle Plains Claims are in good standing with the Province of Saskatchewan and are being acquired free and clear of any encumbrances other than the NSR Royalty and customary permitted encumbrances.

About the Knife Lake Project:

The Knife Lake Project (the “Property”) is an exploration-stage copper, silver, zinc, gold and cobalt property located approximately 136 kilometres northwest of Flin Flon, Manitoba, in east-central Saskatchewan, a jurisdiction consistently ranked among the top mining jurisdictions in the world by the Fraser Institute. The Property hosts the Knife Lake Deposit, a near-surface, stratabound volcanogenic massive sulphide (“VMS”) style deposit. The mineralized zone is approximately 15 metres thick on average and dips 30° to 45° eastward over a known strike length of approximately 4.5 kilometres across 3 zones (Central-South, Bay, North) with an average known down-dip extension of approximately 300 metres.

The Property benefits from a comprehensive database of more than 400 drill holes derived from historical and modern exploration programs completed between 1968 and 2022. The most recent work, completed by Rockridge Resources Ltd. (now Trident), comprised diamond drill programs in 2021 and 2022 totalling approximately 3,000 metres and a VTEM airborne geophysical survey in 2021. The 2021 VTEM survey data identified numerous conductive anomalies along the same prospective stratigraphy that hosts the Knife Lake Deposit. Highlights from the 2022 drill program include drill hole KF22029, which intersected 15.75 metres of 1.91% Cu, 0.23 g/t Au, 7.79 g/t Ag, 0.30% Zn and 0.01% Co starting from 13.00 metres downhole. Reported intervals are drilled core lengths and true thicknesses are undetermined. The Property also hosts numerous regional exploration targets, including Redhill Lake, Scimitar Lake, Pistol Lake and Gilbert Lake.

Apogee holds the sole and exclusive right and option to acquire a 100% interest in the Knife Lake Project from Trident Resources Corp. (TSXV: ROCK) pursuant to an option agreement dated July 13, 2026, as previously announced in the Company’s news release dated July 14, 2026, and the closing news release dated September 16, 2026.

Qualified Person:

The scientific and technical information contained in this news release has been reviewed and approved by John Shmyr, P.Geo., of Dahrouge Geological Consulting Ltd., a registered member of the Association of Professional Engineers and Geoscientists of Saskatchewan. Mr. Shmyr is a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Shmyr is independent of the Company and has verified the drilling data disclosed in this news release against the Company’s digital database and the original laboratory certificates, and consents to the inclusion of the matters based on his information in the form and context in which it appears.

About Apogee Minerals Ltd.:

Apogee Minerals Ltd. is a Canadian copper and base metal exploration company that holds an option to acquire a 100% interest in the Knife Lake Copper Project. The asset comprises 54 mineral claims totalling approximately 35,255 hectares in east-central Saskatchewan, located approximately 136 kilometres northwest of Flin Flon, Manitoba and approximately 180 kilometres northeast of La Ronge, Saskatchewan – a jurisdiction consistently ranked among the top mining jurisdictions in the world by the Fraser Institute. The Property hosts the Knife Lake Deposit, a near-surface, stratabound volcanogenic massive sulphide (“VMS”) style copper-zinc-silver-gold-cobalt deposit.

Our goal is to build shareholder value through mineral project acquisitions and advancement, as well as through new mineral discoveries.

To find out more about Apogee Minerals Ltd. (TSXV: APMI), visit the Company’s website: www.apogeemineralsltd.com

ON BEHALF OF THE BOARD OF DIRECTORS

Apogee Minerals Ltd.

“Brady Rak”

Brady Rak
Chief Executive Officer and a Director

For further information, please contact:

Apogee Minerals Ltd.
Matthew Coltura, Corporate Communications
Email: mcoltura@sentinelmarket.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 news release.

Cautionary Statements Regarding Forward-Looking Information:

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budgets”, “scheduled”, “estimates”, “forecasts”, “predicts”, “projects”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. These forward-looking statements include, among other things, statements relating to the completion of the Transaction, including TSXV acceptance, the satisfaction of closing conditions and the expected timing of closing; the issuance of the Shares and payment of the Cash Consideration; the grant of the NSR Royalty and the Company’s right to buy down a portion of the NSR Royalty; the exploration potential of the Eagle Plains Claims; the Company’s expectations regarding copper prices and demand; the exercise of the Company’s option to acquire a 100% interest in the Knife Lake Project; the Company’s planned exploration activities on the Knife Lake Project and the Eagle Plains Claims; and further advancement of the Knife Lake Project.

Such forward-looking statements are based on a number of assumptions of management of the Company, including, without limitation, that the parties will obtain all necessary corporate and regulatory approvals and consents required for the completion of the Transaction, including TSXV acceptance; that the other conditions to the completion of the Transaction will be fulfilled; that the Company will be able to satisfy the option payments and exploration expenditures necessary to exercise its option on the Knife Lake Project; that the Company will be able to pursue its exploration plans on the Knife Lake Project and the Eagle Plains Claims as anticipated and within the expected time frame; that results of exploration activities will be consistent with anticipated results; and that the Company will have access to the resources and capital required to pursue further advancement of the Knife Lake Project.

Additionally, forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: the conditions to the consummation of the Transaction may not be satisfied; the failure of the Company to obtain all requisite approvals for the Transaction, including the acceptance of the TSXV; the Transaction may involve unexpected costs, liabilities or delays; inability to satisfy the requirements for the exercise of the Company’s option on the Knife Lake Project; actual results of the Company’s exploration activities being different than those expected by management; fluctuations in copper and other metal prices; delays in obtaining or failure to obtain required government or other regulatory approvals; the ability to obtain adequate financing to conduct its planned exploration programs; and the completion of the Transaction may be adversely impacted by changes in legislation, changes in TSXV policies, political instability or general market conditions.

Such forward-looking information represents the best judgment of management of the Company based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Neither the Company nor any of its representatives makes any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this press release. Neither the Company nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this press release by you or any of your representatives or for omissions from the information in this press release.