Vancouver, British Columbia--(Newsfile Corp. - July 8, 2026) - Teako Minerals Corp. (CSE: TMIN) (FSE: O8U) (OTC Pink: TMINF) (the "Company" or "Teako") is pleased to announce that it has entered into a non-binding Letter of Intent ("LOI") with MERIDIANA Capital Group GmbH ("MERIDIANA") dated July 8, 2026, outlining the framework for a recapitalization transaction resulting in the creation of a German-listed silver-focussed exploration company through the combination of certain of Teako's Norwegian silver projects and a portfolio of German-sponsored exploration projects.

Pursuant to the proposed transaction structure, Teako shall contribute a 90% interest in seven (7) strategic Norwegian silver projects to a newly formed Norwegian subsidiary to be established by Teako ("NewCo"). All of the issued and outstanding shares of NewCo will subsequently be contributed for consideration equal to EUR 3,600,000 to a German listed company identified by MERIDIANA, which is ultimately expected to be renamed, and referred to herein as the "Resulting Issuer". The consideration payable to Teako shall consist of EUR 100,000 in cash and EUR 3,500,000 in common equity of the Resulting Issuer. Concurrently with Teako's contribution of the NewCo shares to the Resulting Issuer, MERIDIANA or an affiliate will contribute all of the issued and outstanding shares of a separate Norwegian exploration company holding a portfolio of twelve silver-exploration projects to the Resulting Issuer in exchange for common equity of the Resulting Issuer.

The proposed transaction is intended to establish a dedicated silver exploration platform combining Teako's Norwegian silver portfolio with MERIDIANA's additional twelve projects under a German public company structure. The parties believe that the transaction has the potential to enhance access to capital markets to accelerate exploration on the contributed projects, while creating a focussed silver exploration vehicle with a substantial Norwegian asset base. Teako will retain exposure to future project development through its retained 10% interest in the Projects and ownership interest in the Resulting Issuer. Teako is also expected to become the preferred provider of Norwegian exploration services (on standard commercial terms) to the Resulting Issuer going forward.

Highlights

• Creation of a German Listed Pure-Play Silver Explorer: Teako has agreed to contribute a 90% interest in seven (7) strategic Norwegian silver projects: Kvittinden, Husvika, Sund, Leland, Greipfjellet, Hyllvatnet and Vinterskard (the "Projects"), and MERIDIANA has agreed to contribute a further 12 silver projects, to an existing publicly listed entity which, upon completion of the proposed transactions, will be the Resulting Issuer. The Resulting Issuer will be a Germany-listed silver-focused Norwegian exploration company.

• Retained Strategic Upside: The transaction will allow Teako to further crystallize value from its Norwegian portfolio while maintaining significant exposure to future discoveries through both an equity ownership in the Resulting Issuer and retained direct interests in the 7 silver projects.

• Equity Position: Teako will be issued such number of fully paid common shares in the capital of the Resulting Issuer having an aggregate value of €3,500,000 (approximately C$5,660,000) upon closing of the transaction, which is expected to represent approximately 38.4% of the outstanding shares of the Resulting Issuer at closing.

• Cash Payment: Teako shall also receive a cash payment of €100,000 (approx. C$160,000) payable upon closing.

• 10% Free Carried Interest: Teako will retain a 10% beneficial ownership interest in each of the Projects, carried until the point of a Final Investment Decision ("FID") on the Projects.

• Work Commitments: To ensure advancement of the Projects, the Parties have agreed to cause the Resulting Issuer to use its best efforts to conduct minimum aggregate expenditures of €2,250,000 (approximately C$3,650,000) within 3 years of the closing. These commitments are to be incurred in aggregate across the Projects as outlined in further detail below.

Terms of the LOI

Pursuant to the LOI, Teako and MERIDIANA have agreed to use their commercially reasonable efforts to enter into a definitive contribution agreement (the "Agreement") within 90 days. Completion of the proposed transaction and the successful listing of the Resulting Issuer shares issuable to Teako remain subject to a number of conditions, including formation of NewCo, preparation of valuation and business plan materials, and certain regulatory and exchange approvals in Germany.

Teako will retain a 10% free carried ownership interest (the "Free Carry") until FID in each of the Projects. If at any time the Resulting Issuer makes a FID to commence commercial production on the Projects or a Project, Teako and the Resulting Issuer shall form a joint venture (the "JV") pursuant to a definitive joint venture agreement (the "Joint Venture Agreement"). Upon FID, the Resulting Issuer will be responsible for sourcing funding to bring the Projects or the Project into production, and Teako shall not be responsible for any costs of establishing the JV or financing the Projects until commercial production has commenced.

The LOI also provides Teako with certain anti-dilution protections so that any financing of the JV will not impact Teako's Free Carry prior to the point of commercial production. After the commencement of commercial production, all Joint Venture interest holders will participate in the costs and distributions of the Joint Venture pro rata. Dividends or distributions will start to be distributed to the parties after any financing loans made to the JV are paid off from the revenues from the production. Teako shall have no parent obligations for repayment in the event the mine is closed prior to final repayment of any such loan(s).

The Agreement shall contain a commitment by the Resulting Issuer to use its best efforts to incur work commitments of not less than €2,250,000 (approximately C$3,650,000) on the Projects following closing on the following schedule:

The Resulting Issuer will establish its own dedicated team of personnel. In addition, Teako may be engaged on an as-needed basis to provide exploration services in Norway and other services to the Resulting Issuer on customary commercial, arm's-length terms at market rates.

About the Projects

The seven Projects (see Figure 1) that will be contributed by Teako under the LOI are all 100% owned by Teako and are all located within highly prospective belts for the discovery of high-grade polymetallic and silver deposits in Central and Northern Norway.

Figure 1: Location of the Projects

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Husvika Project

Located in the Nordland region of Northern Norway, the Husvika Project consists of seven (7) licence claims (covering a total area of 48,5 km²), and benefits from exceptional infrastructure, including the Husvika port. Historic mining and modern exploration data, including rock chip sampling undertaken by the Norwegian Geological Survey ("NGU"), indicate the potential for high-grade polymetallic skarn-type mineralization with strong silver enrichment and district-scale exploration potential (see Figure 2).

Figure 2: Overview of the Husvika Project

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At the centre of the project lies the historic Husvika zinc-lead-silver ("Zn-Pb-Ag") deposit, where previous mining campaigns between 1897 and 1951 reported extraction of an estimated 8,000 tonnes of ore from several high-grade lenses distributed along a 1.5 km mineralized trend (Torgersen, 1928). Mineralization occurs within broadly N-S-trending skarn-hosted sulphide systems containing sphalerite, galena and silver and with a cumulative strike length exceeding 5 km (Birkeland & Bjørlykke, 1993). The broader Husvika district hosts numerous historic workings, including the Hilda Mine, Nordre Sivertsen, Søndre Sivertsen, Lille Hatten, and several satellite occurrences distributed along the mineralized corridor.

This widespread mineralization demonstrates possible continuity and scale of the system throughout the project area. Importantly, historical geophysical surveys identified conductive anomalies at depth beneath the southern part of the project area, suggesting the potential for mineralization extensions below historically mined levels (NGU Report BV4058, 1974). Historical exploration also identified multiple gold anomalies in stream sediment surveys proximal to the main Pb-Zn-Ag mineralization, highlighting the potential for additional precious metal enrichment within the district (BP Minerals, 1984).

Kvittinden & Greipfjellet Projects

Kvittinden Project

The Kvittinden Project is a polymetallic target opportunity located in Nordland County, Norway. The Project consists of 27 license claims (covering 220 km²) and benefits from excellent regional infrastructure, including established forestry and access roads, proximity to a local airport, and connectivity to a deep-water port and regional airport in Mosjøen. Kvittinden sits within highly prospective metasedimentary and metavolcanic rocks, which host multiple styles of mineralization, including volcanogenic massive sulphide ("VMS"), Mississippi Valley-Type ("MVT"), and skarn mineralization.

Historical exploration by major Scandinavian mining groups including Boliden and LKAB identified high-grade mineralized boulders across the property (see Figure 3) with maximum silver-lead grades of 423 g/t Ag and 30% Pb (Lilljequist, 2014). The NGU also sampled outcrops in the area which have presented grades to 132 g/t Ag and up to 10 % Zn, highlighting the polymetallic nature of this area. The mineralized boulder locations are consistent with ice flow directions and extend over approximately 10 km, suggesting the presence of a significant undiscovered bedrock source (Acosta-Gongora et al., 2024) with mineralized horizons at Tverrelva (up to 9.3 % Zn) being strong source candidates.

More recent work by Scandinavian Resources advanced the understanding of the region through airborne electromagnetic ("VTEM") and magnetic surveys alongside diamond drilling campaigns (Forslund, 2011, Hannans, 2012). Teako has since acquired and reprocessed the VTEM dataset using modern Maxwell plate modelling, significantly refining the project's drill targeting capability with identification and assessment of 49 conductive Maxwell plates. Of these, 15 occur within prospective greenstones along the Tverrelva trend and are considered high-priority VMS targets. With strong infrastructure, compelling historical exploration results, modern geophysical targeting, and district-scale polymetallic potential, the Kvittinden Project represents a highly prospective exploration asset within Norway's emerging critical minerals sector.

Greipfjellet Project

The Greipfjellet Project is also located in Nordland County, Norway. The Project consists of 10 license claims (covering 92 km²) and also benefits from excellent regional infrastructure, including local roads, airport access, and proximity to a deep-water port in Mosjøen (see Figure 3). Previous work includes a VTEM airborne geophysical survey completed by Scandinavian Resources AB in 2010 and regional till sampling conducted by the NGU. Teako has acquired and reprocessed the historical VTEM dataset to improve target definition and refine exploration priorities. Maxwell plate modelling by Geotech Airborne Ltd identified 49 conductive plates across the area many of which reside in the Greipfjellet licence area, several of which are located within prospective greenstone and felsic volcanic units considered favourable for VMS mineralization. These targets represent priority areas for future exploration and possible drill testing.

Geologically, the project area is composed primarily of rocks known to host base metal mineralization and similarities have been drawn with deposits such as Stekenjokk in Sweden and Bathurst in Canada. Geological and FDEM geophysical trends highlight indications that prospective geology may extend from the Swedish border hosting the Stekenjokk deposit into the Greipfjellet licences. Work undertaken by the NGU (Acosta 2024) has highlighted prospectivity across this region, with prospectivity for both precious and base metals noted across the licence area.

Figure 3: Overview of the Kvittinden and Greipfjellet Projects

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Hyllvatnet Project

The Hyllvatnet Project comprises a single licence claim (covering 10km²) and is situated north of Trondheimsfjorden, about 40 km north of the city of Trondheim. The project hosts three historical mineral occurrences along the contact between Paleoproterozoic migmatitic gneiss and younger metasedimentary rocks and greenstones of the Seve Nappe, partly characterised by elevated precious- and base-metal grades. The area benefits from excellent infrastructure, including direct road access via public and local forestry roads/hiking trails, as well as proximity to shipping facilities in Trondheim and the international airport at Stjørdal. Assay results from the NGU database exist for 14 samples collected across the mineral occurrence sites with grades averaging 133 g/t Ag and 1.94 % Cu and values reaching 248.6 g/t Ag, 6.2 % Cu and 0.67% Mo (Geo.ngu.no, 2026) (see Figure 4). The NGU have also reported geophysical (Induced Polarization) anomalies along the lithological contact (Figure 4). This, coupled with the notable surface grade data, highlights the prospectivity of the Project.

Figure 4: Overview of the Hyllvatnet Project

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Sund and Leland Projects

Sund Project

The Sund Project consists of two license claims (covering 15 km²) and is located in Nordland, Norway, about 15 km east of Sandnessjøen and hosts the historic Ladingen trench (1930s), known for its silver and base-metal grades (see Figure 5). The area's geology comprises marble interlayered with mica schist and gneiss, with proximal Caledonian granite intrusions. A 5 m long adit exposes a ~10 cm quartz vein with galena, arsenopyrite, and minor pyrite. The vein reportedly extends several metres along strike before disappearing beneath overburden on the shoreline. NGU sample assays (Geo.ngu.no, 2026) show elevated lead and silver in samples from the vein, with up to 2.13 % lead and 489 g/t silver.

Leland Project

Teako's Leland Project is located in Nordland County and consists of 2 license claims covering 8.7 km². The Project lies 17 km northeast of Sandnessjøen covering the historic Leirfjord lead-zinc-silver occurrences. Mineralization occurs as massive galena-sphalerite (± pyrrhotite) bodies hosted within calcitic marble of a Cambro-Silurian metasedimentary sequence situated adjacent to the Caledonian Lifjell granodiorite. The mineralization is structurally controlled, remobilized into fold hinges and marble-schist contacts. At the historical main Smøråsen pit, mineralization occurs in three lenses and a 1 m thick zone has been identified at Småhaugene.

Historical work includes mining in the 1880s - 1930s and an NGU exploration program in 1974 involving mapping, soil sampling, and VLF geophysics (Cramer, 1974). Rock chip samples over the areas from the NGU have returned assay grades up to 264 g/t silver, 10% zinc and 16% lead (NGU, 2015) (see Figure 5). Lead isotope data collected for a series of deposits throughout the region by the University of Oslo have linked the Leirfjord mineralization with other deposits in the region and studies have confirmed skarn-style mineralization (Birkeland 1993). Leirfjord has been classified as a "Husvika Type" and sits within a cluster of deposits including Husvika, Leirfjord, Langkilen and Svenningdale. Lead isotopes for these deposits overlap with the regionally significant Bindal batholith and the Caledonian of the Scandinavian massive sulphide deposits.

Figure 5: Overview of the Sund and Leland Projects

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Vinterskard Project

The Vinterskard Project is a polymetallic exploration project measuring 10 km² in size, with notable precious metal grades located in the Grane municipality of Nordland, representing an exciting opportunity to fully investigate this precious metal potential. Situated approximately 18 km from Trofors, the site benefits from excellent infrastructure, lying in close proximity to the E6 highway and local railway line, and is a mere 1.2 km from the nearest road. The regional geology is characterized by quartz-diorite units within the Helgeland Nappe Complex and the project is highlighted by the Skjerphaugen occurrence, a hydrothermal vein system reported to be approximately 0.7 m in thickness. Waste rock material contains disseminated galena and bands of nearly massive arsenopyrite locally reaching 3 to 4 centimeters in thickness. Historical NGU sampling has yielded significant high-grade results, with assays returning up to 29.08 g/t Au, 193.2 g/t Ag, and 2.97% Pb (29,733 ppm) (Geo.ngu.no, 2026) (see Figure 6). Furthermore, the quartz vein material returned up to 0.12% Co, presenting an additional target, yet to be fully assessed. Vinterskard currently remains largely untested by modern exploration, although with compelling historical high-grade gold, silver, and polymetallic results.

Figure 6: Overview of the Vinterskard Project

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About MERIDIANA

MERIDIANA Capital Group GmbH is building a capital markets platform focused on strategic metals, with an emphasis on silver exploration projects in Norway and across Scandinavia. The Company combines capital markets expertise with the acquisition, development and strategic advancement of high-potential mineral assets, creating a bridge between resource projects and public market investors. Through its international network and experience in corporate finance, MERIDIANA aims to unlock value by identifying, financing and advancing strategically important silver exploration opportunities while providing efficient access to the capital markets.

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 committed to acquiring, exploring, and developing mineral properties in Norway, focusing on critical metals such as copper and zinc in massive sulfides. By leveraging leading-edge exploration technologies and strategic partnerships, Teako aims to address the growing demand for essential minerals while generating value for shareholders and stakeholders alike.

Teako, within its Norwegian Project Hub owns over 60 projects 100% and holds a 10% economic interest in the four (4) rare earth elements ("REE") projects owned by Fritzøe Skoger AS and a 10% non-dilutive free carried ownership interest in five (5) copper, gold and silver projects owned by Nordic Minerals AS, a wholly owned subsidiary of United Minerals Australia Pty Ltd as further described on the Company's website.

Teako's Project Hub, including the Løkken, Venna and Tynset main projects, covers an extensive land package prospective for copper, cobalt, zinc, gold, silver, platinum group elements (or "PGE"), uranium, antimony, molybdenum, tungsten and rare-earth-elements. The Project Hub strategy was initially developed from the Company's first-mover advantage in-country, leveraging both technical skill and strong local community engagement to acquire and advance groups of both core and non-core assets. Core assets such as the Løkken, Venna and Tynset projects remain integral to the Company's self-funded exploration programs, whereas the Company aims to retain exposure to exploration success on non-core assets through securing deals with strong partners. These deals, if secured, are intended to potentially bring in capital and/or ongoing cash flow, retain upside exposure, and reduce overall risk, thereby strengthening Teako's foundation.

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 contribution of the Projects to NewCo and contribution of NewCo to the Resulting Issuer, the terms of the definitive contribution agreements, the proposed timing for closing, regulatory and stock exchange approvals, Teako's expected pro forma ownership of the Resulting Issuer, the expected work commitments and exploration activities of the Resulting Issuer, expected mineralization and commercial viability of mineral resources, the anticipated benefits of the proposed transaction 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 Management's Discussion and Analysis, for the period ended January 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.

Project References:

Sund: i) Geo.ngu.no. (2026). Metaller. [online] Available at: https://geo.ngu.no/api/faktaark/mineralressurser/visMetaller.php?objid=2340&lang=nor. Vinterskard: i) Geo.ngu.no. (2026). Metaller. [online] Available at: https://geo.ngu.no/api/faktaark/mineralressurser/visMetaller.php?objid=2138&lang=nor Leland: i) BV3722: Cramer (1974). Malmundersøkelser i Leirfjord, Nordland fylke. ii) Geo.ngu.no. (2015). Metaller. [online] Available at: https://geo.ngu.no/api/faktaark/mineralressurser/visMetaller.php?objid=2823&lang=nor. Husvika: i) Birkeland, A. & Bjørlykke, A. (1993). Pb isotopic constraints on the origin of the Husvika Zn-Pb deposit in Nordland, north-central Norway. Norsk Geologisk Tidsskrift, Vol. 73, pp. 43-54. ii) NGU Report BV4058 (1974). Malmundersøkelser i Husvik. Norges geologiske undersøkelse. iii) Torgersen, J.C. (1928). Sink- og blyforekomster på Helgeland. Norges geologiske undersøkelse, NGU 131, pp. 1-79. iv) Wilberg, R. (2011). Husvika Zn-Pb Occurrence. Prepared for Scandinavian Resources AB. v) BP Minerals (1984). Stream Sediment Sampling Programme, Husvika Area. Internal exploration reporting referenced in project compilation data. Hyllvatnet: i) NGU Report no.: 97.133. Solli et al. (1997). Proterozoic Basement and Scandian Geology of the outer Trondheimsfjord Region. ii) Geo.ngu.no. (2026). Metaller. [online] Available at: https://geo.ngu.no/api/faktaark/mineralressurser/visMetaller.php?objid=164&lang=nor. iii) Geo.ngu.no. (2026). Metaller. [online] Available at: https://geo.ngu.no/api/faktaark/mineralressurser/visMetaller.php?objid=162&lang=nor. iv) Geo.ngu.no. (2026). Metaller. [online] Available at: https://geo.ngu.no/api/faktaark/mineralressurser/visMetaller.php?objid=163&lang=nor. Kvittinden: i) Acosta-Gongora, P. et al. (2024). A multi-domain approach for soil geochemical anomaly mapping: a case study from the Hattfjelldal area, Norway. Ore Geology Reviews. Manuscript Draft. ii) Forslund (2011). Scandinavian Resources undersökningar i Hattfjelldal. Presentation at NGU Day, Trondheim. iii) Hannans (2012). Scandinavian Copper-Gold Portfolio. iv) Lilljequist (2014). Evaluation of the occurrence of massive sulphide boulders at Famnvatnet and Rössvatnet in Norway. Greipfjellet: i) Acosta-Gongora, P. et al. (2024). A multi-domain approach for soil geochemical anomaly mapping: a case study from the Hattfjelldal area, Norway. Ore Geology Reviews, manuscript draft. ii) Bjerkgård, T. (2021). Geology and Ore Deposits in Hattfjelldal, Nordland. NGU Report 2021.012. iii) Dahl, R. (1987). Kilvassaksla Cu + Au-førende forekomst. Prøvetaking og diamantboring. BV3401. iv) Forslund, T. (2011). Scandinavian Resources undersökningar i Hattfjelldal. Presentation at NGU Day, Trondheim. v) Geo.ngu.no (2026). Metaller. Available at: NGU Mineral Resources Database

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Source: Teako Minerals Corp.