Viridian Metals Announces Exploration Target for Kraken Main Zone

TORONTO, Sept. 15, 2026 /CourierPR/ -- Viridian Metals Inc. has announced an initial exploration target for the Kraken Main Zone, part of its 100%-owned Kraken copper-nickel-cobalt project in Labrador. The target, based on drilling completed prior to the ongoing 2026 program, suggests a potential quantity of 41 to 61 million tonnes grading 0.35% to 0.52% copper equivalent (CuEq).

According to Tyrell Sutherland, President and CEO of Viridian Metals, the Exploration Target is based on an average mineralized thickness of 8.6 meters.

The Exploration Target is conceptual in nature and does not yet define a Mineral Resource. There has been insufficient exploration to determine if the target will be delineated as such. The copper equivalent grades are calculated using metal prices of US$4.00/lb for copper, US$7.50/lb for nickel, and US$15.00/lb for cobalt, with an assumed recovery rate of 80% for each metal.

The Exploration Target covers a footprint of approximately 2 km² and represents only a portion of the broader conductive system identified at Kraken. More than 60 conductors have been identified across the project, with only four having been drill tested to date. All four drill tests intersected magmatic sulphide mineralization, providing numerous targets for future exploration.

Viridian's ongoing 2026 drill program is focused on expanding and better defining the mineralized system at Kraken Main. Results from the current program are not included in the Exploration Target announced today. The company plans to initiate metallurgical test work in late Q4 2026 to establish project-specific recoveries for copper, nickel, and cobalt. The current Exploration Target assumes an 80% recovery for each metal.

The Exploration Target was prepared by APEX Geoscience Ltd. using drilling and geophysical data available prior to the 2026 program. The estimate combines the interpreted mineralized footprint at Kraken Main with drilling-derived mineralized thicknesses and grades and an average bulk density of 3.0 t/m³. The density is based on 42 measurements collected during the 2024 and 2025 drill programs.

The company has also received final overlimit assay results for three samples from the ongoing 2026 drill program at Kraken Main. These samples update the initial results for hole VKS26-054, previously reported on September 8, 2026. The overlimit results form part of the ongoing 2026 drill program and were not considered when outlining the Exploration Target announced today.

Viridian Metals Inc. has entered into a new marketing services agreement with Outside The Box Capital Inc., an Ontario-incorporated marketing firm focused on retail investor outreach and digital community development. The agreement is effective September 14, 2026, and replaces a previous agreement that expired on July 14, 2026.

The Exploration Target provides a conceptual estimate of the potential scale of Kraken Main based on drilling completed prior to the 2026 program. The ongoing drill program will continue to test the extent and continuity of mineralization at Kraken Main, with additional assay results expected as drilling progresses.