Mont Sorcier Iron Project Feasibility Study Update

Globex Mining Enterprises Inc. announced an update on the Mont Sorcier iron project, where it holds a 1% Gross Metal Royalty. Cerrado Gold, through its subsidiary Cerrado Gold===Voyager Metals, reported significant progress, including the completion of 17,890 meters of infill drilling in 2025 to support resource definition for a feasibility study. The feasibility study is targeted for completion in Q2 2026. Cerrado Gold===Voyager Metals also acquired 22 additional mining claims in November 2025 to expand infrastructure capacity and provide a buffer around the core development area. The project aims to produce high-quality 67% grade iron concentrate, positioning it to support the global Green Steel transition due to reduced emissions from using high-grade concentrates. The Bankable Feasibility Study will explore expanding the project's potential, building on a previous Preliminary Economic Assessment that estimated a project NPV8% of US$1.6 Billion based on 65% iron concentrates. Improved metallurgical results suggest the potential for a DRI-grade iron ore concentrate product exceeding 67% iron.