Future Mineral Announces Amendment to Purchase Agreement Respecting Acquisition of Nickel–Zinc–Lead Project in Poland

TORONTO, Oct. 16, 2026 (GLOBE NEWSWIRE) — Future Mineral Resources Inc. (“Future Mineral” or the “Company”) (TSX: FMR) is pleased to announce that it has entered into an amendment (the “Amendment”) to the share purchase agreement dated February 2, 2026 (the “Agreement”) to acquire the remaining 52% ownership interest in its flagship nickel–zinc–lead project in Poland (the “Project”).

The Agreement was initially entered into with Forbes EV Metals Inc. (the “Target”) and its shareholders, many of whom are current or former directors and officers of the Company (collectively, the “Vendors”), pursuant to which Future Mineral intends to indirectly acquire (the “Acquisition”) the remaining 52% interest in the Project through the purchase of 100% of the issued and outstanding shares of the Target, which owns 52% of Ferrite Resources Polska sp. z o.o. (“Ferrite Polska”), a private company incorporated under the laws of Poland.

The Project is comprised of the Szklary nickel deposit and the Dabrowka zinc–lead deposit, both located in Poland’s established mining corridor. Future Mineral acquired an initial 48% interest in the Project in June 2025; closing of the Acquisition will complete the consolidation. For more information about the 48% acquisition and the Agreement, please see the Company’s press releases dated June 26, 2025, and February 2, 2026, respectively, copies of which are available on the Company’s SEDAR+ profile at www.sedarplus.ca.

The Amendment revises certain commercial terms relating to the Acquisition, as follows:

• The $2,600,000 payable to the Vendors will now be satisfied through promissory notes issued by the Company (collectively, the “Promissory Notes”), each bearing 10% annual interest, payable annually, and maturing twenty‑four (24) months following the Acquisition closing date, each of which the Company may prepay at any time without penalty; overdue amounts will accrue interest at 12% per annum until paid.
• Payment obligations under the Promissory Notes will be secured by a first‑ranking pledge all shares of Ferrite Polska held, directly or indirectly, by the Company.
• The outside date by which the Acquisition must be completed was extended to December 31, 2026.
• Delivery of the Promissory Notes and pledge documents was added as conditions precedent.

Closing of the Acquisition remains subject to the satisfaction of several conditions precedent, including, inter alia, any requisite approval of the Toronto Stock Exchange, the provision of legal opinions concerning certain corporate matters and title, and other closing conditions customarily found in transactions similar to the Acquisition. The Acquisition is expected to close in November 2026.

About Future Mineral

Future Mineral is a mining company focused on acquiring and advancing brownfield, development-stage and early production-stage mining projects in the Americas and Europe.

Cautionary statement regarding forward-looking information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements with respect to the Acquisition, including the anticipated closing date, and other matters related thereto. Forward looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future mineral prices and market demand; accidents, labour disputes and shortages; risks inherent in the mining industry; and other risks described in the public disclosure of the Company which is available under the profile of the Company on SEDAR+ at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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