Agreement to Treat Uranium Waste Dumps with DISA

Further to the announcement on 13 August 2025 regarding the Company's acquisition of 75% of Standard Minerals Inc. ("Standard"), which holds the Radium Mountain and Wedding Bell uranium claims in Colorado (the "Colorado Projects"), Metals One (AIM: MET1), a critical and precious metals exploration and development company, is pleased to provide the following update.

Standard has signed a Term Sheet with DISA Technologies, Inc. ("DISA") to seek to evaluate and, if successful, treat historically abandoned uranium mine waste dumps and recover saleable uranium and other critical mineral concentrates at the Colorado Projects. Standard holds the rights to uranium minerals at the Colorado Projects on Bureau of Land Management ("BLM") property.

Highlights:

• Standard (Metals One 75%) to be paid a Gross Revenue Share of saleable uranium and other critical mineral concentrates recovered from waste dumps at the Colorado Projects via deployment of DISA's modular mobile plants utilising the patented High-Pressure Slurry Ablation ("HPSA") system
• No capex or opex payable by Standard
• 13 separate prospective waste dumps have been ground surveyed at the Colorado Projects - others may be added to this inventory over time
• Standard to receive a percentage of gross product sale revenue stream, minus certain post-treatment allowable costs. A sliding scale with a base rate of 2.5%, through to 4.0% in certain metals pricing environments
• DISA to be operator of the Colorado Projects and pay all associated costs of permitting, evaluation, treatment and ongoing remediation

Advantages of HPSA:

• The HPSA process treats surface dumps of previously partially mined and aggregated material
• DISA has been working with the U.S. Nuclear Regulatory Commission (NRC) since 2021 on a robust licensing process which is expected to conclude soon - making it the first company to receive a Service Providers License (SPL) to remediate abandoned uranium mine waste
• Aside from extracting valuable uranium and critical minerals, the process delivers significant improvements to the local environment and watersheds by removing on average 90% of the uranium and radium-226 content from the waste as evidenced by a treatability study DISA completed with the U.S. Environmental Protection Agency
• Strong US Government support for domestic recovery of uranium and critical minerals from legacy mine waste. This activity is directly in line with the recent Secretarial Order from the Department of the Interior (Order No. 3436: Unlocking Critical and Strategic Minerals from Mine Waste, Cutting Red Tape, and Restoring American Dominance in Strategic Mineral Production)

Next Steps:

• Characterisation programme with a combination of assay and gamma probe to determine likely quantities of uranium and other recoverable minerals present in the waste piles
• Application and completion of all requisite permits needed to commence treatment of waste and recovery of payable concentrates using HPSA technology
• Future potential sale of metals concentrates and payment of gross revenue to Standard
• Parties will immediately move to finalise and execute a more detailed binding agreement and complete any outstanding conditions precedent to the transaction

Craig Moulton, Chair of Metals One, commented:

"We are delighted to have executed this Term Sheet with DISA, which creates a pathway for Metals One to potentially generate revenue from our U.S. uranium portfolio. I would like to thank the team at DISA and our project partner, Thor Energy, for their collaboration in reaching this agreement.

DISA are global leaders in materials upgrading, and their patented HPSA process is a breakthrough, non-chemical technology. Importantly, DISA's NRC licensing process is expected to conclude soon making it the first company to receive a Service Providers License (SPL) to remediate abandoned uranium mine waste - an appealing regulatory framework. The process not only recovers valuable uranium and critical minerals but also leaves the environment significantly improved by remediating historic legacy sites.

Metals One has been strategically assembling a portfolio of U.S. uranium exploration projects, and we now look forward to working with DISA to evaluate broader applications of this technology across our portfolio."

Figure 1 - Example of Gen B modular HPSA components. Source: DISA.

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About DISA Technologies

Founded in 2018, DISA Technologies is revolutionising mineral recovery with its patented High-Pressure Slurry Ablation (HPSA) technology - an innovative solution that upgrades critical minerals from mined ore and legacy waste. Serving both the mining and remediation sectors, DISA recovers valuable resources that power industry, strengthen energy independence and restore contaminated sites to productive use. DISA's technology unlocks economic and environmental value, transforming how the world processes, remediates and recycles essential mineral assets. DISA is headquartered in Casper, Wyoming, with a satellite office in Westminster, Colorado.

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