Nordique Critical Metals Announces TSXV Final Approval for its Acquisition of Option to Earn Up to 80% Interest in the Kwyjibo Rare Earth Project in Québec; Files Amended 2026 Kwyjibo PEA Report

Nordique Critical Metals Inc. (formerly, Consolidated Lithium Metals Inc.) (TSXV: NQC | FRA: J6K | OTCQB: JORFF) (“NQC” or the “Company”) is pleased to announce that it has received final approval from the TSX Venture Exchange (“TSXV”) for its previously announced acquisition of an option to earn, subject to the satisfaction of certain conditions, an undivided interest of up to 80% in the Kwyjibo Rare Earth Project (“Kwyjibo, or the “Project”), located 125 km northeast of the city of Sept-Îles, in the Côte-Nord region of Québec (the “Transaction”). asserted

The Transaction terms are set out in a definitive agreement between SOQUEM Inc. (“SOQUEM”), a wholly owned subsidiary of Investissement Québec, and the Company dated November 17, 2025, as amended February 4, 2026 (the “DA”). asserted

Transaction Summary Phase I – NQC to acquire a 60% undivided interest in Project Pursuant to the DA, NQC may earn a 60% undivided interest in the Project (the “Phase I Option”) in consideration for payments and issuances of common shares of the Company (“Common Shares”) upon each of the yearly anniversaries of the signature of the DA during the subsequent five-year period. uncertain

Such payments and Common Share issuances total an aggregate amount of C$23.15m and are allocated as follows (in each case subject to and in accordance with the rules and policies of the TSXV): - C$5.65m in cash to SOQUEM; - C$5.50m payable to SOQUEM in Common Shares at a price per share equal to the greater of (i) the Discounted Market Price (as such term is defined in the policies of the TSXV) on the day of issuance, and (ii) the most recent closing price of the Common Shares on the TSXV immediately prior to the day of issuance, less a 10% discount; and - C$12.00m invested in the Project to advance the following key stages of the Project’s development: - Negotiation and ratification of an impacts and benefits agreement with the Innu of Takuaikan Uashat mak Mani-utenam; - Metallurgical study to confirm environmental viability of extraction and processing of rare earth in the region of the Project; - Environmental permitting from the Bureau d’accélération des projets; - Initiation of at least a 5,000m drilling campaign for potential expansion of the Project’s resources; and - Initiation of a bankable feasibility study to evaluate the technical and economic viability of the Project (the “Feasibility Study”). asserted

- C$5.65m in cash to SOQUEM; - C$5.50m payable to SOQUEM in Common Shares at a price per share equal to the greater of (i) the Discounted Market Price (as such term is defined in the policies of the TSXV) on the day of issuance, and (ii) the most recent closing price of the Common Shares on the TSXV immediately prior to the day of issuance, less a 10% discount; and - C$12.00m invested in the Project to advance the following key stages of the Project’s development: - Negotiation and ratification of an impacts and benefits agreement with the Innu of Takuaikan Uashat mak Mani-utenam; - Metallurgical study to confirm environmental viability of extraction and processing of rare earth in the region of the Project; - Environmental permitting from the Bureau d’accélération des projets; - Initiation of at least a 5,000m drilling campaign for potential expansion of the Project’s resources; and - Initiation of a bankable feasibility study to evaluate the technical and economic viability of the Project (the “Feasibility Study”). asserted

Upon satisfaction of these conditions and acquisition by the Company of the initial 60% undivided interest in the Project, NQC and SOQUEM will form a joint venture in respect of the Project to be governed by customary terms and conditions in respect of a joint venture of this nature. asserted

Phase II – NQC to acquire an additional 20% undivided interest in the Project, resulting in an aggregate undivided interest of 80% Following completion of the Phase I Option described above, NQC may earn an additional 20% undivided interest in the Project (together with the Phase I Option, the “Options” and each, an “Option”) (for a total of 80%) in consideration for payments and issuances of Common Shares upon each of the yearly anniversaries of the signature of the DA during the three-year period following expiry of the period of the Phase I Option. uncertain

Such payments and Common Share issuances total an aggregate additional amount of C$22.00m and are allocated as follows (in each case subject to and in accordance with the rules and policies of the TSXV): - C$4.50m in cash to SOQUEM; - C$4.50m payable to SOQUEM in Common Shares at a price per share equal to the greater of (i) the Discounted Market Price (as such term is defined in the policies of the TSXV) on the day of issuance, and (ii) the most recent closing price of the Common Shares on the TSXV immediately prior to the day of issuance, less a 10% discount; and - C$13.00m invested in the Project to advance the following Project milestones: - Completion of the Feasibility Study; - Access road construction; - Electrical transmission line construction; - Underground mine construction; and - Processing facilities construction. - C$4.50m in cash to SOQUEM; - C$4.50m payable to SOQUEM in Common Shares at a price per share equal to the greater of (i) the Discounted Market Price (as such term is defined in the policies of the TSXV) on the day of issuance, and (ii) the most recent closing price of the Common Shares on the TSXV immediately prior to the day of issuance, less a 10% discount; and - C$13.00m invested in the Project to advance the following Project milestones: - Completion of the Feasibility Study; - Access road construction; - Electrical transmission line construction; - Underground mine construction; and - Processing facilities construction. The DA also contemplates the following: - NQC shall be entitled to enter into discussions with SOQUEM and Investissement Québec to acquire the remaining 20% interest in the Project (for a total of 100%); - failure by NQC to make all or any portion of the above payments and Common Share issuances (“Consideration Shares”) within the deadlines described above and in the DA will result in NQC losing the relevant Option to acquire the relevant undivided interest; - the number of Consideration Shares issued to SOQUEM under the Transaction to earn a 60% and an additional 20% undivided interest in the Project is limited to no more than an aggregate of 110,000,000 and 90,000,000 Common Shares, respectively; - no Consideration Shares shall be issued to SOQUEM if, as a result of such issuance, SOQUEM’s undiluted holding of NQC’s common shares would represent 10% or more of the issued and outstanding Common Shares, or if SOQUEM would otherwise become an insider of NQC, in which case NQC shall have the right to pay the applicable milestone amount to SOQUEM in cash in lieu of issuing Consideration Shares; - SOQUEM undertook not to acquire Common Shares without approval of the TSXV if, as a result of such acquisition, SOQUEM’s undiluted holding of Common Shares would represent 10% or more of the issued and outstanding Common Shares; and - no Consideration Shares shall be issued to SOQUEM if the applicable closing price of Common Shares on the TSXV is less than $0.05, in which case NQC will pay the applicable milestone amount to SOQUEM in cash in lieu of issuing Consideration Shares. In addition, the Company notes that the Project remains subject to a 1.5% net smelter return royalty in favor of Iron Ore Company of Canada. asserted

Throughout Phases I and II described above, NQC will act as Project operator in collaboration with SOQUEM. asserted

The Transaction is an arm’s length transaction for the purposes of the policies of the TSXV and the acquisition of the undivided interest described above remains subject to several conditions including, without limitation, the issuances of Consideration Shares as described above. asserted

No finder fees are payable in connection with, and no change of control of the Company is expected to result from, the Transaction. asserted

For more information, please see the Company’s press releases dated November 18, 2025, and February 5, 2026, which are available under the Company’s SEDAR+ profile at www.sedarplus.ca. asserted

About the Project The Project consists of mining claims, applications, leases or other forms of mineral rights hosting an Iron Oxide Copper Gold (IOCG)-style mineral system with significant rare earth enrichment, particularly neodymium (Nd), praseodymium (Pr), dysprosium (Dy), terbium (Tb) and Yttrium(Y). uncertain

The Project is located near established infrastructure, including the QNS&L rail line and the Port of Sept-Îles, and the Company believes it can benefit from access to Québec’s hydroelectric power grid. asserted

SOQUEM has conducted extensive exploration, geophysics, and metallurgical test work to date, which the Company believes establishes a strong foundation for the advancement towards completion of the Feasibility Study. asserted

In addition, the Company also announced today that it is providing additional disclosure regarding its previously filed Updated Preliminary Economic Assessment (the “Updated PEA”) for Kwyjibo. asserted

As a result of comments received from the TSXV, and as part of its commitment to comprehensive disclosure, the Company has filed an amended technical report supporting the Updated PEA (the “Amended Updated PEA”)_and providing additional detail and clarification. asserted

The Amended Updated PEA provides additional detail and clarification in response to comments received from the TSXV, principally relating to terminology concerning mineralized material, the personal verification procedures performed by the Qualified Persons (“QPs”) and their conclusions, the definition of Inferred Mineral Resources, and the cut-off values and parameters used in the generation of the optimized mining shapes (“MSO”) and optimization of the mine plan. asserted

Clarifications to the Updated PEA The principal changes incorporated into the Amended Updated PEA are summarized below. asserted

References to “ore” have been replaced with “mineralised material,” where applicable, except in Sections 13 (Ore processing and metallurgical tests) and 17 (Recovery methods) of the Amended Updated Report. asserted

Corresponding terminology has also been revised throughout the sections addressing mining, transportation, processing, infrastructure, costs and economic analysis. asserted

The amendments also remove references to increasing “Mineral Reserves” from the recommendations and replace them with references to increasing the quantity of mineralized material, where applicable. QP Personal Inspections and Data Verification The Amended Updated PEA adds details of the QPs’ personal inspections and data verification procedures, together with their conclusions on the suitability of the data for the Mineral Resource Estimate and Updated PEA. asserted

Table 2.1 (page 82) and point 7 of the QP certificates (pages 405, 408 and 410) have been revised to identify the specific report sections and data verification responsibilities assigned to each QP. Inferred Mineral Resources The definition and disclosure relating to Inferred Mineral Resources have been clarified to incorporate the applicable CIM language. asserted

The Inferred Mineral Resource definition in note 3 of Tables 1.4 (page 53), 14.11 (page 199) and 14.12 (page 200) has been replaced with CIM-aligned definition. asserted

Cut-Off Values and Mine Plan Optimization Additional disclosure has been provided to distinguish the different economic values used in the Mineral Resource Estimate and mine planning process. asserted

The amended report clarifies that the $471 per tonne cut-off value for mineralised material includes mining costs, concentrator and hydrometallurgical processing costs and general and administrative costs, while the $386 per tonne marginal cut-off value excludes mining costs. asserted

The report further clarifies that the optimized mining shapes (MSO) were generated using Deswik and that an increased economic value of $1,250 per tonne was used in generating the MSO for the mine plan. asserted

The Mineral Resources within the optimized mining shapes were subsequently estimated using the $386 per tonne marginal cut-off value, based on a 74.5% recovery rate and a rare earth oxide selling price of CA $67.73/kg TREO (Total Rare Earth Oxides). asserted

The Amended Updated PEA also provides additional disclosure regarding the economic value assigned to individual mineralised blocks and adds a new table presenting the MSO parameters used to generate the optimized mining shapes. asserted

The Amended Updated PEA has been prepared to provide the additional disclosure and clarifications described above in response to the TSXV comments. asserted

The Updated PEA (August 2026), was prepared by DRA Americas Inc, a 100% owned subsidiary of DRA Limited (“DRA”), covers the mining and milling of rare earth element-bearing (REE-bearing) magnetite mineralised material from an underground mine, with a mine life of 10 years and a concentrator located at the Kwyjibo hydrometallurgical complex. asserted

The processing includes crushing, grinding, magnetic separation, thickening and filtering of run-of-mine mineralised material. asserted

The Total Rare Earth Oxides will be produced at the hydrometallurgical complex. asserted

The hydrometallurgical processing plant is designed to transform REE concentrate into five separate refined Rare Earth Oxide products for an annual production rate of 10,000t of TREO. asserted

The hydrometallurgical process leaches the concentrate in three steps using solid conversion and is completed by a multi-stage solvent extraction process to produce five REO products: Dy oxide, Tb oxide, Nd oxide, Pr oxide, Y oxide and a mix of the remaining REO. asserted

The Updated PEA was filed on the Company’s SEDAR+ profile at www.sedarplus.ca on August 14, 2026. asserted

The Amended Updated PEA (October 2026) has been prepared by DRA Americas Inc. of Montréal, Québec, a 100% owned subsidiary of DRA, and has also been filed on the Company’s SEDAR+ profile at www.sedarplus.ca in accordance with NI 43-101. asserted

The scientific and technical information contained in this news release has been reviewed for accuracy and approved in compliance with NI 43-101 by the following qualified persons (as such term is defined in NI 43-101): The technical information in this press release has been reviewed and approved by Mr. Daniel Gagnon, P. Eng. of DRA Americas Inc. who is independent from the Company. asserted

The Mineral Resource Estimate, which forms the basis of the Amended Updated PEA, was prepared by S. Ibrango, P.Geo., PhD, MBA, Sr Geologist for DRA Americas Inc., an “independent qualified person” as defined in NI 43-101. asserted

The technical information on metallurgical test work and hydrometallurgy was reviewed and approved by Mr. Eric Larochelle, P.Eng., President of SMH Process Innovation. asserted