Velocity Announces Exercise of Warrants and Granting of Stock Options

About this update from Velocity Minerals Ltd.

Vancouver, British Columbia--(Newsfile Corp. - January 21, 2026) - Velocity Minerals Ltd. (TSXV: VLC) (OTCQB: VLCJF) ("Velocity" or the "Company") announces that it has received proceeds of $1,316,387 from exercise of warrants expiring on December 19, 2025. A total of 98% of outstanding warrants were exercised at an exercise price of $0.18 and the Company has no additional outstanding share purchase warrants. The Company also announces that it has granted 3,665,000 common share stock options (each, an "Option") to various directors, officers, employees and consultants of the Company and its affiliates. The options will form part of the Company's annual grant of long-term incentives. The Options entitle the holder to purchase shares at a price of $0.18 per share for a period of 5 years from the issue date. Options will vest over 3 years, beginning 6 months from the date of issue and vesting in equal tranches bi-annually thereafter. Including this issuance, the Company has now set Options representing 8.9% of the issued and outstanding stock. On Behalf of the Board of Directors "Keith Henderson"President & CEO For further information, please contact: Keith HendersonPhone: +1-604-484-1233E-mail: [email protected]: www.velocityminerals.com Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/281042

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