Canamera Options Rare Earth Ridge REE-Niobium Project

Edmonton, Alberta--(Newsfile Corp. - July 8, 2026) - Canamera Energy Metals Corp. (CSE: EMET) (OTCQB: EMETF) (FSE: 4LF0) ("Canamera" or the "Company") announces that it has entered into an option agreement (the "Option Agreement") with Nemo Resources Inc. (the "Owner") under which it may acquire a 100% undivided interest in the Rare Earth Ridge rare earth element ("REE") and niobium ("Nb") project (the "Project" or "Rare Earth Ridge") located in northwestern Ontario, approximately 172 kilometres north of Hearst, Ontario.

The Project comprises approximately 7,320 hectares of mineral claims covering two carbonatite intrusions, each approximately 6 kilometres in diameter. The right to acquire the Project adds a fourth potential REE and Nb project in Ontario to Canamera's exploration portfolio.

"Rare Earth Ridge gives us exposure to two large carbonatite systems, a geological setting that hosts many of the world's most significant rare earth element and niobium deposits." Canamera CEO Brad Brodeur commented, "Given the scarcity of mineralized carbonatites globally, we believe this project offers compelling exploration potential and aligns well with our strategy of advancing high-quality critical minerals assets."

Option Agreement Terms

Under the Option Agreement, Canamera may acquire a 100% undivided interest in the Project by issuing common shares of Canamera to the Owner having the following aggregate deemed values (collectively, the "Option Payments"):

• Common shares having an aggregate deemed value of $60,000, to be issued within five (5) business days following receipt of all required regulatory approvals, including approval of the Canadian Securities Exchange ("CSE") (the "First Issuance Date");
• Common shares having an aggregate deemed value of $60,000, on or before the second anniversary of the First Issuance Date;
• Common shares having an aggregate deemed value of $60,000, on or before the third anniversary of the First Issuance Date; and
• Common shares having an aggregate deemed value of $100,000, on or before the fourth anniversary of the First Issuance Date.

The number of common shares issued under each instalment are to be calculated using the 10-day volume weighted average trading price ("VWAP") of Canamera's common shares on the CSE (or such other exchange on which the shares are then listed) immediately preceding the date of issuance, subject to applicable stock exchange policies. All shares issued will be subject to applicable statutory hold periods.

Upon completion of all Option Payments, Canamera will be deemed to have acquired a 100% undivided interest in and to the Project, subject only to a 2.0% net smelter return royalty (the "NSR Royalty") reserved to the Owner. Canamera has the right, at its sole discretion, to purchase one-half of the NSR Royalty (reducing it from 2.0% to 1.0%) by making a one-time cash payment of $2,000,000 to the Owner at any time. Canamera will be the operator of the Project and is not obligated to incur any minimum exploration expenditures, nor to exercise the Option.

Rare Earth Ridge Project

The Rare Earth Ridge project is located in the James Bay Lowlands of northwestern Ontario, approximately 172 kilometres north of Hearst and centred roughly 6 kilometres west of the junction of the Albany and Kenogami rivers, and covers approximately 7,400 hectares of mineral claims held under the Mining Act (Ontario). The Project is centred on two OGS mapped carbonatite intrusions, each approximately 6 kilometres in diameter, representing large potential, district-scale carbonatite systems.

Carbonatites are rare, mantle-derived igneous rocks containing more than 50% carbonate minerals, and they host the highest concentrations of REE of any igneous rock type (Verplanck, Mariano, and Mariano, 2016; Rare Earth and Critical Elements in Ore Deposits, v. 18, Society of Economic Geologists). They are the world's primary natural source of both Nb and REE: carbonatite-hosted deposits contain the majority of the world's known Nb reserves (Richardson and Birkett, 1995; Geology of Canadian Mineral Deposit Types, GSC Economic Geology Report 8, Natural Resources Canada), and the Araxá and Catalão (Brazil) and St. Honoré (Canada) carbonatites together account for approximately 98% of annual global Nb production, while China's Bayan Obo carbonatite-related deposit supplies roughly 40% of annual global REE production (Yang et al., 2024; National Science Review, 11(4), nwae063; doi:10.1093/nsr/nwae063). The world's largest REE deposits - Bayan Obo, Mountain Pass (USA), Maoniuping (China), and Mount Weld (Australia) - are all carbonatite-hosted. Despite their economic importance, mineralized carbonatites are scarce: of more than 500 carbonatites identified worldwide, only around 60 host quantified Nb or REE resources (USGS Mineral Resources Program, Carbonatites of the World: Explored Deposits of Nb and REE, mrdata.usgs.gov/carbonatite), underscoring the strategic value of large, mineralized, undrilled carbonatite systems.

Carbonatite intrusions overlain on regional TMI magnetic map

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11828/304371_218b818044ca68a6_001full.jpg

Qualified Person

The scientific and technical information in this news release has been reviewed and approved by Warren Robb, P.Geo. (British Columbia), VP Exploration of Canamera Energy Metals Corp. and a Qualified Person as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). Mr. Robb is not independent of the Company within the meaning of NI 43-101.

About Canamera Energy Metals Corp.

Canamera Energy Metals Corp. is a critical minerals exploration company building a diversified portfolio of interests in energy metals and REE projects across the Americas, including the Rare Earth Ridge REE-Nb project and options on the Schryburt Lake, Waterslide, and Garrow REE and Nb projects in Ontario, the Great Divide Basin uranium project in Wyoming, the Turvolândia and São Sepé REE projects in Brazil, and the Mantle project in British Columbia. Across this portfolio, Canamera targets underexplored regions with strong geological signatures and supportive jurisdictions, applying geochemical, geophysical, and geological datasets to generate and advance high-conviction, first-mover exploration targets. For more information, visit www.canamerametals.com.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation, including statements regarding: the Company's planned exploration activities on the Project; the anticipated timing and completion of the Option Payments under the Option Agreement; the Company's ability to make required share issuances; the geological prospectivity of the Project and the potential to identify mineral resources; and the Company's exploration strategy.

Forward-looking information is based on assumptions, estimates, and opinions of management at the date the statements are made and is subject to a variety of risks and uncertainties that could cause actual results to differ materially from those anticipated or projected. These assumptions include, without limitation: the Company's ability to raise sufficient capital to fund its exploration programs and option payments; favourable regulatory conditions; receipt of CSE and other regulatory approvals; continued access to the Project; and general economic conditions.

Important risk factors that could cause actual results to differ materially include, but are not limited to: uncertainties related to raising sufficient financing; the inherently speculative nature of mineral exploration; the early-stage, grassroots nature of the Project; the limited and historical nature of available exploration data; title risks; environmental and permitting risks; risks relating to engagement with First Nations and Indigenous communities; and fluctuations in rare earth element and niobium prices. Additional risk factors affecting the Company can be found in the Company's continuous disclosure documents available at www.sedarplus.ca.

Readers are cautioned not to place undue reliance on forward-looking information. The Company does not intend, and expressly disclaims any obligation, to update or revise any forward-looking information whether as a result of new information, future events, or otherwise, except as required by applicable securities laws.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/304371

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