Miata Metals Announces Gold Recovery Results and Executive Chair Appointment

VANCOUVER, British Columbia, Sept. 21, 2026 /CourierPR/ -- Miata Metals Corp., a Canadian mineral exploration company listed on the TSX Venture Exchange, as well as the OTCQX (OTCQX: MMETF) and Frankfurt (FSE: 8NQ) Exchanges, has announced significant metallurgical test results for its Sela Creek Gold Project in Suriname. The company has achieved an average gold recovery of 94.6% from four composite drill core samples, with recoveries ranging from 91.8% to 98.5%. This result is a significant de-risking of the Sela Creek project, as it demonstrates the potential for conventional gold processing methods to be applied to the mineralization discovered.

The metallurgical test results were conducted using combined gravity and 48-hour bottle roll leach processing. The gold was predominantly recovered from the samples, with all composites containing approximately 1 to 2% sulphides, primarily pyrite and pyrrhotite. The total organic carbon content is low, ranging from 0.03% to 0.05%, indicating very limited potential for preg-robbing. The results are very favorable and imply that the Jons Trend zone is amenable to standard-practice gold recovery circuits for orogenic gold systems.

The Company's sample preparation laboratory at the Sela Creek exploration camp is now operational and is ramping up to process all samples within the next month. The laboratory uses heavy-duty jaw crushers to reduce regular half core samples to a fine crush, with at least 75% of the sample passing a 2.2 mm screen. The uniformly crushed sample is then put through a riffle-splitter, resulting in a ca. 300-500 g sample, which is shipped to the ALS Filab in Paramaribo for further sample prep and analysis. The remaining reject is kept in dry storage for future quality control or duplicate testing. The on-site preparation laboratory reduces sample weight by ten-fold, yielding assay laboratory cost savings of approximately US$10 per metre drilled. An additional cost saving comes from the reduced shipping weight of samples from site to the laboratory in Paramaribo, the capital of Suriname.

The appointment of James Reid as Executive Chair of Miata is also noteworthy. Reid, a founding director of the company and a Managing Partner at Three Peaks Capital, will take on an expanded role, including chairing the Board and supporting corporate strategy, organizational structure, and executive development. His responsibilities will also include supporting capital markets strategy, market positioning, and capital allocation initiatives. Reid's expanded role strengthens Miata's ability to align corporate strategy with the opportunities emerging at Sela Creek.

The appointment of James Reid as Executive Chair is also a significant development. Reid, a founding director of Miata and a key figure in the Company's growth, will now take on an expanded role. His responsibilities will include supporting corporate strategy, organizational structure, and executive development, as well as engaging with shareholders, investors, and strategic counterparties to advance opportunities for shareholder value creation.

Miata Metals Corp. will grant an initial award of 1,683,331 performance share units ("PSUs") to James Reid, representing 1% of the Company's issued and outstanding common shares. The PSUs will vest only upon the occurrence of a change of control of the Company or the commencement of commercial production, aligning the equity component of Mr. Reid's compensation with the achievement of significant long-term value creation milestones for shareholders.

The appointment of James Reid as Executive Chair is a testament to his leadership and contributions to Miata's success. His expanded role will strengthen the Company's ability to pursue opportunities that create long-term value for shareholders. The appointment of Reid as Executive Chair is a significant development for Miata and its Sela Creek Gold Project.