Kapuskasing, Ontario--(Newsfile Corp. - September 14, 2026) - KAP Minerals Inc. ("KAP" or the "Company") is pleased to announce the signing of a Memorandum of Understanding ("MOU") with Moose Cree First Nation ("MCFN") to establish a framework for collaboration as planning for KAP's proposed Kapuskasing Critical Minerals Processing Hub advances in Northern Ontario.

The MOU marks an important first step towards a long-term relationship grounded in mutual respect, transparency, reconciliation, and mutual benefit. It establishes a structured process for ongoing engagement and creates a framework for the parties to explore environmental, cultural, and socio-economic considerations, economic opportunities, and potential future commercial agreements.

KAP's proposed Kapuskasing Critical Minerals Processing Hub, located approximately 40 kilometres southwest of Kapuskasing, Ontario, within the MCFN Homeland, will redevelop the historic Agrium phosphate mine into a multi-product processing facility producing low-cadmium phosphate products, rare earth element concentrates, scandium, titanium, and other strategic materials essential to agriculture, battery manufacturing, aerospace, defence, and advanced manufacturing.

The MOU between KAP and MCFN comes at a pivotal moment as Canada and Ontario continue to implement their Critical Minerals Strategies to strengthen domestic processing capacity, secure resilient North American supply chains, and expand meaningful Indigenous participation in major resource developments.

Building More Than a Project

KAP and Moose Cree First Nation have agreed to pursue a collaborative relationship that recognizes MCFN's rights and role as stewards of their Homeland and seeks to create long-term economic opportunities for MCFN throughout the life of the project.

The parties intend to explore opportunities, including:

• Investment and equity participation by MCFN,
• MCFN businesses and businesses owned by MCFN members,
• Employment, education, and workforce development,
• Potential future agreements, and
• Tripartite engagement with provincial and federal governments where appropriate

The MOU further recognizes the broader strategic economic context in which the project is advancing, including rising global demand for critical minerals, the need for Indigenous participation in major projects, and the opportunity to build a regionally anchored, Indigenous-inclusive industrial economy in Northern Ontario.

Supporting Northern Ontario's Future

The Kapuskasing Critical Minerals Processing Hub has the potential to catalyze regional economic development by creating high-value industrial jobs, supporting local businesses, attracting investment, and strengthening Canada's domestic critical minerals processing capabilities.

The project also has the potential to contribute to broader community priorities, including enhanced food security through the future production of Canadian phosphate-based fertilizers and the creation of long-term employment and business opportunities for Indigenous communities across the region.

Geoff Hampson, Chief Executive Officer of KAP Minerals, commented: "This marks the beginning of what we hope will be a long-term partnership built on trust, mutual respect and shared prosperity. Moose Cree First Nation has demonstrated tremendous leadership in regional economic development, and we are honoured to begin this journey together. As KAP advances the Kapuskasing Critical Minerals Processing Hub, we look forward to collaborating to explore opportunities that create lasting economic value, including potential equity participation, investment, business development and workforce opportunities that will benefit the community for generations to come."

Chief Peter Wesley, Moose Cree First Nation, added: "This Memorandum of Understanding establishes an important foundation for constructive dialogue and collaboration as planning for the KAP project continues. Moose Cree First Nation is a leader in sustainable economic development in our Homeland. Development must respect our rights, support the wellbeing of Moose Cree people, and be consistent with our role as stewards of our Homeland. We look forward to deepening discussions with KAP as we evaluate the many aspects of how this project can support long-term benefits for Moose Cree First Nation."

Supporting Canada's Critical Minerals Vision

This MOU reflects the growing recognition that successful critical minerals projects require meaningful partnerships with Indigenous communities. As governments continue to invest in domestic critical minerals processing and resilient North American supply chains, partnerships like this help position Northern Ontario as an emerging hub for responsible, sustainable resource development, advanced processing, and Indigenous-led economic participation.

About KAP Minerals Inc.

KAP Minerals Inc. is developing the Kapuskasing Critical Minerals Processing Hub in Northern Ontario, a proposed multi-product processing platform focused on producing phosphate products, rare earth element concentrates, scandium, and other strategic materials, including purified phosphoric acid, supporting agriculture, energy storage, and advanced manufacturing.

About Moose Cree First Nation

MCFN is the largest First Nation in northern Ontario and a signatory to Treaty No. 9. MCFN has Inherent, Aboriginal, and Treaty rights throughout our Homeland, which spans approximately 60,000 square kilometers across northeastern Ontario. Moose Cree people have sustained and been sustained by our Homeland since time immemorial and have a responsibility to ensure that our Homeland can sustain future generations. We are leaders in economic development that respects our rights, supports the wellbeing of Moose Cree people, and is consistent with our stewardship responsibilities.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/314075

Source: KAP Minerals Inc.