DEEP SEA MINERALS CORP. RESPONDS TO REUTERS HEADLINE AND CLARIFIES STATUS OF NOAA EXPLORATION APPLICATION

About this update from Deep Sea Minerals Corp

Vancouver, British Columbia, June 26, 2026 (GLOBE NEWSWIRE) -- Deep Sea Minerals Corp. (CSE: SEAS) (OTCQB: DSEAF) (FSE: X450) ("Deep Sea Minerals" or the "Company"), a seabed mineral exploration and development company focused on advancing critical mineral opportunities from the deep ocean, is issuing this statement in response to a Reuters headline published on June 22, 2026, which stated that no exploration license has been awarded and that the Company's application remains under regulatory review. The Company believes the headline, without additional context, has created confusion in the market regarding the status of its application. Deep Sea Minerals confirms that its application has not been rejected, denied, dismissed, or withdrawn. Rather, the application remains active within the applicable regulatory review process. The Company further confirms that its application has advanced through the substantial compliance stage. This is a meaningful procedural milestone within the NOAA regulatory pathway, indicating that the application has satisfied key threshold requirements for completeness and conformity. Upon reaching substantial compliance, the Company obtains priority of right with respect to the applied-for concession covered by its application, further confirming its position within the regulatory process. While substantial compliance does not constitute final approval of an exploration license, it represents an important step in the normal progression of the application. Deep Sea Minerals is currently working toward full compliance and continues to engage constructively with the relevant regulatory authorities as the application proceeds through the remaining stages of review. The Company's objective remains to obtain final approval of its exploration license application through the established NOAA regulatory process. "Recent media references have led to an incorrect impression that our exploration license application was rejected," said James Deckelman, Chief Executive Officer of Deep Sea Minerals Corp. "That is not the case. Our application remains active, has passed substantial compliance, and continues to move through the regulatory pathway. We are focused on satisfying the remaining requirements and working toward full compliance and final application approval." The Company understands the importance of clear and accurate disclosure to sha...

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