Teako Provides Corporate and Portfolio Update

Vancouver, British Columbia--(Newsfile Corp. - October 13, 2026) - Teako Minerals Corp. (CSE: TMIN) (FSE: O8U) (OTC Pink: TMINF) (the "Company" or "Teako") is pleased to provide a Corporate and Portfolio update covering the continued development of its Norwegian project portfolio through its hybrid explorer-project generator model. The Company's business model is centred on exploration and development activities on its core portfolio of copper-zinc Volcanogenic Massive Sulfide ("VMS") projects in central Norway and complemented by a broader polymetallic portfolio in which select projects are advanced by partners through third-party funding arrangements where Teako retains direct exposure to potential future exploration success.

Highlights

• Norwegian Portfolio: Teako currently holds interests in a total of seventy-nine (79) projects covering approximately 5,446 km² across Norway, between both fully-owned and partner-funded projects, providing exposure to a broad basket of commodities, including copper, zinc, silver, gold, rare earth elements ("REE"), tungsten as well as other specialty and critical metals.

• Partner-Funded Portfolio: Nine (9) projects are currently subject to definitive partner-funded agreements, providing Teako with retained exposure to several commodities, including REE, copper, zinc, silver and gold across approximately 345 km² (see Company News Releases dated July 3, 2025 and January 5, 2026).

• Aggregate Partner Exposure: Across its completed partner-funded arrangements, Teako currently retains free carried interests to final investment decision, milestone payments and rights to future sale proceeds with projects being subject to certain exploration expenditures.

• Additional Transactions: A further seven (7) projects covering approximately 406 km² are currently subject to a non-binding letter of intent, which, if completed, would provide additional exposure through additional free carried interests, work commitments and through an equity position (see Company News Release dated July 8, 2026).

• Laboratory Results: Assay results are pending for samples collected from the Tynset and Venna projects during the 2026 field program (see Company News Release dated September 16, 2026). Initiation of the ground geophysics (Induced Polarization or "IP") survey at the Tynset project remains on schedule for mid-October 2026, with priority drill hole definition to be completed during Q4 2026.

• Teako has relinquished its 90% ownership interest in the Løkken district property, Central Norway. The Company retains its larger, 100%-owned portion of the Løkken district property, which will be referred to as the Løkken Ophiolite project going forward.

Portfolio Update

Teako continues to actively manage its strategic Norwegian project portfolio with the objective of concentrating the Company's internal exploration efforts on its main copper-zinc VMS projects while select projects across the broader portfolio provide upside exposure to exploration success through partner-funded arrangements. As of the date of this news release, Teako holds interests in 79 projects across Norway, of which nine (9) are currently subject to definitive partner-funded agreements and seven (7) projects are currently subject to a non-binding letter of intent with MERIDIANA Capital Group GmbH ("MERIDIANA") for a proposed transaction (see Company press release dated July 8, 2026). The Company continues to work with MERIDIANA toward entering into a definitive agreement in respect of the transaction. In parallel, the Company remains in active discussions with other prospective project partners regarding additional projects within its portfolio.

Through its completed and proposed partner arrangements, Teako has retained meaningful exposure to future exploration and development success while reducing the amount of capital required to advance the broader portfolio. This exposure includes, depending on the applicable transaction, free-carried project interests through to final investment decision ("FID"), partner-funded exploration expenditures, milestone consideration, rights to future disposition proceeds, joint-venture provisions upon FID, and exploration-service opportunities, together with contemplated equity exposure under the current letter of intent. The tables below provide an overview of the Company's current Norwegian portfolio, including its main projects, and the retained and contemplated economic upside exposure associated with its completed and contemplated partner-funded projects.

¹ Table 2 is for informational purposes only and should be viewed in conjunction with applicable Company press releases. The Company refers to Company press releases dated July 3, 2025, January 5, 2026 and July 8, 2026. Table 2 does not include cash considerations already paid.

² The proposed transaction involving the seven silver projects remains subject to a non-binding letter of intent with Meridiana Capital Group GmbH (see Company press release dated July 8, 2026). The contemplated terms remain subject to the execution of a definitive agreement, and there can be no assurance that the transaction will be completed on the terms contemplated or at all.

³ The Aggregate Upside Exposure column includes the contemplated terms of the non-binding letter of intent described above and therefore includes amounts and interests that remain subject to the execution of a definitive agreement, which should not be interpreted as representing only definitive or completed agreements.

Teako has entered into a definitive agreement with EMX Scandinavia AB whereby it has relinquished its 90% ownership interest in the Løkken district property, Central Norway, and all related obligations have been terminated. This action is part of the Company's ongoing capital-allocation and portfolio review. The Company retains its larger, 100%-owned portion of the Løkken district property, which will be referred to as the Løkken Ophiolite project going forward. The Løkken Ophiolite covers all of the remaining similar prospective bedrock as the relinquished project area. Going forward, exploration priorities will focus on future expected diamond drilling at the 100%-owned Tynset project, alongside capital-efficient exploration programs at the 100%-owned Løkken Ophiolite and Venna projects aimed at generating additional drill targets.

Next Exploration Steps

The Company is currently awaiting laboratory assay results for all samples collected at the Tynset property during the summer 2026 field program, as well as an initial batch of 51 samples from the Venna project collected during the same program (see Company News Release dated September 16, 2026). The expected Induced Polarization survey on the Storbekken Priority 1 target at the Tynset project is on schedule for mid-October, which together with the geochemical and spectral datasets from the laboratory is anticipated to generate targets for a future expected maiden diamond drill program.

The Company also expects to allocate field crews to undertake work for project partners on a fee-for-services basis when applicable, without compromising the development of its own 100%-owned main projects.

Corporate Update

During August 2026 the Company's remaining warrants exercisable at C$0.20 per common share expired unexercised. Following the expiry, the Company has 134,494,828 common shares and 4,700,000 options issued and outstanding, with no warrants remaining outstanding.

Qualified Persons and Disclosure Statement

The technical information presented in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 ("NI 43-101") Standards of Disclosure for Mineral Projects, and reviewed and approved by Eric Roth, a Non-Executive Director of Teako and a Qualified Person under NI 43-101. Mr. Roth holds a Ph.D. in Economic Geology from the University of Western Australia, is a Fellow of the Australian Institute of Mining and Metallurgy (AusIMM), and is a Fellow of the Society of Economic Geologists. Mr. Roth has over 35 years of experience in international minerals exploration and mining project evaluation.

About Teako Minerals Corp.:

Teako Minerals Corp. is a Vancouver-based mineral exploration company focused on the acquisition, exploration and advancement of mineral projects in Norway, with its principal exploration focus on copper and zinc in massive sulfide systems. The Company's strategy combines advancing its main projects toward discovery with building a growing portfolio of partner-funded projects in which Teako retains upside exposure to potential future exploration success across a range of commodities. Through this integrated model, Teako seeks to create shareholder value while contributing to the exploration of minerals critically important to future supply chains.

Forward-Looking Information:

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Teako. Forward-looking information is based on certain key expectations and assumptions made by the management of Teako. In some cases, you can identify forward-looking statements by the use of words such as "will," "may," "would," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "could" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements in this press release include statements related to the development and advancement of the Company's project portfolio; the timing and results of exploration activities, including geophysical surveys, drilling programs and laboratory analyses; future exploration priorities and strategies; the pursuit, negotiation and completion of potential transactions, including contemplated terms and timing thereof; discussions with prospective partners; the receipt of pending results and data; anticipated expenditure commitments, project interests, milestone payments, equity or other consideration and economic rights under existing or contemplated arrangements; and the Company's business plans and operations and other matters. Although Teako believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Teako can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include but are not limited to, risks associated with the mineral exploration industry in general (e.g., operational risks in development, exploration and production; the uncertainty of mineral resource estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), constraint in the availability of services, commodity price and exchange rate fluctuations, changes in legislation impacting the mining industry, adverse weather conditions and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures. These and other risks are set out in more detail in Teako's interim Management's Discussion and Analysis, for the period ended July 31, 2026.

All dollar figures included herein are presented in Canadian dollars, unless otherwise noted. Neither the CSE nor its market regulator accepts responsibility for the adequacy or accuracy of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/318697

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