Vancouver, British Columbia--(Newsfile Corp. - November 3, 2026) - Perseverance Metals Inc. (TSXV: PMI) ("Perseverance" or the "Company") is pleased to announce that it has entered into two additional agreements with Keweenaw Land Association Limited (see PMI NR Dec 18 2025 for prior transaction), an arm's length party, to lease an aggregate of 12,673.5 acres (51.3 km²) of prospective mineral titles (the "Keweenaw Leases") in the Upper Peninsula of Michigan, USA. These additional Keweenaw Leases significantly expand and infill the Company's highest priority exploration holdings in the region.

Additionally, the Company has entered into an option agreement with two arm's length parties pursuant to which the Company has the sole and exclusive option to acquire 320 acres of mineral rights on the Voyageur Project, strategically increasing the Company's holdings in the region.

With the addition of the Keweenaw Leases and the mineral rights option agreement detailed above, the Company has now increased the size of its Voyageur land position to approximately 187,083 acres (757 km²) – an 11% increase over the original 168,003-acre Voyageur property optioned by the Company in July 2023.

"We aim to be aggressive in our exploration of Voyageur in the coming months, and this further land consolidation increases our strategic foothold in the area of key exploration targets," said Michael J. Tucker, CEO. "Osprey was an excellent confirmation of our exploration strategy, and securing this additional land brings us closer to finding additional mineralized intrusions in this fertile area."

Drilling and borehole EM surveys continue on the Osprey intrusion, and the Company expects to provide a detailed update on progress in the coming days.

About Perseverance Metals

Perseverance Metals is a critical minerals explorer with a project portfolio that is strategically located in key North American Ni-Cu-Co-PGE and hard rock lithium regions, including Michigan's Mid-Continent Rift and Québec's prolific James Bay district.

Our strict science-driven approach and extensive track record of discovery as leveraged via an exceptional technical advisory board, coupled with an industry-leading team armed with next-generation exploration tools, provide us with a distinct competitive advantage. This offers a unique opportunity for investors to be exposed to a portfolio of projects with the potential for multiple discoveries.

Perseverance's exploration assets include:

1. the Voyageur Ni-Cu-Co-PGE Project, which covers over 750 square kilometres (over 185,000 acres) of the Upper Peninsula of Michigan, 65 kilometres west of the Eagle mine - the only producing nickel mine in the United States. The Company's inaugural drill program on the Voyageur Project is currently underway, continuing to expand on the recent Osprey Ni-Cu bearing mafic-ultramafic intrusion discovery (see PMI NR Sept 9 2026);

2. the Lac Gayot high-grade Ni-Cu-Co-PGE and lithium pegmatite project, which covers the entirety of the 30km long Venus Greenstone Belt in Québec, featuring multiple, very high-grade Ni-Cu-Co-PGE showings and zones and numerous spodumene-bearing pegmatites; and

3. the Armit Lake Ni-Cu-Co project, which is the consolidated and underexplored western half of the nickel- and gold-rich Savant Lake Greenstone Belt in Ontario.

Additional information about Perseverance Metals can be found at perseverancemetals.com

On Behalf of the Board,
Michael J. Tucker
CEO and Director

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

FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation, including statements regarding the Company's plans to consolidate and add additional mineral rights around the Voyageur Project and the timing thereof. Forward-looking statements are based on assumptions that management believes are reasonable, including that the Company will be able to negotiate and enter into acceptable agreements and that general business and market conditions will not change in a materially adverse manner. Such statements involve known and unknown risks and uncertainties that may cause actual results to differ materially, including the risk that additional mineral rights may not be acquired on acceptable terms, within the anticipated timeframe or at all, the Company's ability to obtain financing, and other risks detailed in the Company's filings available on SEDAR+ at www.sedarplus.ca. Readers are cautioned not to place undue reliance on forward-looking statements, which are made as of the date of this news release, and the Company undertakes no obligation to update them except as required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/322231

Source: Perseverance Metals Inc.