CALGARY, Alberta, Nov. 05, 2026 (GLOBE NEWSWIRE) -- Northern Discovery Metals Inc. (CSE: NOR) (FSE: M1V0) (“Northern Discovery” or the “Company”) is pleased to announce, further to its news release dated October 8, 2026, that it has completed the acquisition (the “Acquisition”), from Orogen Royalties Inc. (“Orogen”), of a 100% interest in the Cibola copper-gold project (“Cibola” or the “Property”) located in British Columbia, pursuant to a purchase agreement dated October 7, 2026 between the Company and Orogen (the “Agreement”).

Cibola comprises approximately 3,567 hectares of road-accessible mineral claims located approximately 90 kilometres by road south-southwest of Houston, British Columbia. The Property lies in a region hosting porphyry copper deposits associated with the Bulkley and Babine intrusive suites, including the past-producing Huckleberry Mine. Mineralization at nearby properties is not necessarily indicative of mineralization at Cibola.

At closing, the Company paid $30,000, issued 100,000 common shares of the Company and granted Orogen or its nominees a 2% net smelter returns royalty on the Property. Under the Agreement the Company is also required to:

  • pay $50,000 and issue 300,000 common shares of the Company on the earlier of its receipt of a drilling permit for the Property and July 31, 2027; and
  • pay $50,000 and issue 300,000 common shares of the Company on the earlier of six months after its receipt of a drilling permit for the Property and December 31, 2027.

All amounts are in Canadian dollars. All common shares issued or issuable under the Agreement are or will be subject to a statutory hold period of four months and one day from the applicable date of issuance. The Acquisition is an arm’s length transaction, and no finder’s fees are payable.

The royalty on the Property may be reduced to 1.5% by written notice and payment of $5,000,000 no later than 90 days after completion of the earlier of a pre-feasibility study or a feasibility study. The royalty also applies to additional mineral interests acquired within a one-kilometre area of interest, as provided in the royalty agreement.

If the Company has not completed 15,000 metres of drilling on the Property by August 12, 2030, an annual payment of $20,000 to the underlying optionors will be required until that threshold is met.

For additional information regarding Cibola and the Acquisition, please see the Company’s news release dated October 8, 2026.

Qualified Person Statement

Jared Suchan, Ph.D., P.Geo. (EGBC #67668), Chief Executive Officer and Director of the Company, and a “Qualified Person” within the meaning of National Instrument 43-101 — Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical contents of this news release. For additional information on the Property, please see the Company’s news release dated October 8, 2026, a copy of which may be obtained under the Company’s profile at www.sedarplus.ca.

About Northern Discovery Metals Inc.

Northern Discovery Metals Inc. is a mineral exploration company focused on the acquisition, exploration and advancement of mineral properties in Canada. The Company is exploring for copper at its Vent Project on Vancouver Island, British Columbia, where it holds an option to acquire a 100% interest, and owns a 100% interest in the Cibola copper-gold project in British Columbia.

On Behalf of the Board of Directors

Dr. Jared Suchan
Chief Executive Officer and Director

Phone: (604) 294-3020
Email: info@northerndiscoverymetals.com

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking information and forward-looking statements within the meaning of applicable Canadian securities laws. These statements include statements concerning future cash payments, share issuances and royalty obligations; the potential exercise of the royalty reduction right; receipt of drilling permits; completion of the applicable drilling threshold and the timing and continuation of related annual payments; the geological interpretation and exploration potential of Cibola; and the Company’s plans to evaluate and advance the Property.

Forward-looking statements are based on management’s current expectations and assumptions, including that the required approvals and permits will be obtained; sufficient financing, personnel and contractors will be available; existing technical information will provide a reasonable basis for further evaluation; and access arrangements, field conditions and regulatory requirements will permit the contemplated activities.

Actual results may differ materially because of risks including financing constraints; permitting or access delays; uncertainties concerning mineral title and assumed liabilities; environmental and reclamation obligations; incomplete or unreliable historical information; changes in geological interpretations; unsuccessful exploration; adverse field conditions; increased costs; and changes in commodity prices, capital markets or government requirements. Exploration may not identify an economic mineral deposit. Additional risks are described in the Company’s continuous disclosure filings available on SEDAR+.

There can be no assurance that the proposed exploration will proceed or achieve the anticipated results. Readers are cautioned against placing undue reliance on forward-looking statements, which speak as of the date of this release. The Company undertakes no obligation to update these statements except as required by applicable securities laws.

The CSE has neither approved nor disapproved the information contained herein.