Axion Minerals Commences Phase 1 Exploration at Cranberry Creek

Vancouver, British Columbia--(Newsfile Corp. - October 19, 2026) - Axion Minerals Corp. (CSE: AXN) ("Axion" or the "Company") is pleased to announce that it has commenced its Phase 1 exploration program at the Cranberry Creek REE Property, located approximately 23 kilometres south of Revelstoke, British Columbia. The field team has mobilized to the Property from Oct 10^th, 2026 and will complete the fieldwork portion of work in 4-5 weeks depending upon the weather conditions and logistics.

The Phase 1 work program is based on the recommended work program in the Independent Technical Report on the Cranberry Creek REE Property, effective June 3, 2026.

The initial field work is focused on verifying and following up priority targets identified from the 2025 exploration program. Axion plans to test a limited number of selected locations associated with higher 2025 REE values using a portable backpack drill. The drilling is intended to collect shallow subsurface material for geological logging and analysis and to help assess the setting of the surface anomalies.

2025 Exploration Results Provide Follow Up Targets

The report describes the November 2025 exploration program as including prospecting, geological mapping, ground and airborne geophysical surveys, and the collection of 208 samples: 86 rock, 110 soil and 12 stream-sediment samples, including field duplicates. Rock samples returned total rare earth element (TREE) values from approximately 15 parts per million (ppm) to more than 5,700 ppm. The report also describes localized heavy rare earth element and yttrium responses, as well as locally elevated zirconium values.

The 2025 results are reconnaissance surface-sampling results and are being used to guide follow-up exploration. They do not establish the source, subsurface grade, thickness or continuity of any mineralization. No Mineral Resource or Mineral Reserve has been defined for the Property.

Phase 1 Program

Phase 1 work includes detailed geological mapping and prospecting; follow-up rock and infill soil sampling; additional stream-sediment sampling in under-tested drainages of Cranberry Creek and Mulvehill Creek; and ground radiometric surveying. Ground magnetic and/or VLF-EM surveys may also be completed over selected target corridors. Axion will integrate the geological, geochemical and geophysical information to refine and rank targets for future work.

"The 2025 sampling outlined several locations that merit closer investigation. We are following up selected higher REE values with focused backpack drilling while collecting the geological and geophysical information needed to determine the most appropriate next steps for Cranberry Creek," said Christopher Hill, Chief Executive Officer of Axion Minerals Corp.

Cranberry Creek REE Property

The Property comprises three contiguous mineral claims covering approximately 2,673.19 hectares in the Kamloops Mining Division of British Columbia. It is situated approximately 23 kilometres south of Revelstoke and is underlain principally by high-grade metamorphic rocks of the Monashee Complex, including muscovite- and biotite-rich gneiss, quartzite and schist, with local granitic and pegmatitic intrusions. Axion holds an option to acquire a 100% interest in the Property.

Qualified Person

The technical information in this release has been reviewed and approved by Afzaal Pirzada, P.Geo., a consultant to the Company and a Qualified Person under National Instrument 43-101.

About Axion Minerals Corp.

Axion Minerals Corp. is engaged in the business of mineral exploration and the acquisition of mineral property assets in Canada. Its objective is to locate and develop economic mineral properties of merit and to conduct its exploration program on the Cranberry Creek REE property, which is comprised of three contiguous mineral claims covering approximately 2,673.19 hectares in the Kamloops Mining Division, British Columbia.

On Behalf of Axion Minerals Corp.

Christopher Hill
Chief Executive Officer

Cautionary Statement Regarding Forward-Looking Information

This news release contains forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements include, but are not limited to, statements regarding the Phase 1 exploration program, planned backpack drilling, other planned exploration activities, the timing and scope of work, the receipt of permits and other authorizations, and the potential for future exploration at the Property. Such statements are based on management's current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially, including risks related to permits and access, weather and terrain, availability of personnel and equipment, contractor and laboratory schedules, financing, and the interpretation of exploration results. Readers are cautioned not to place undue reliance on forward-looking statements. Axion undertakes no obligation to update such statements except as required by applicable law.

The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/319849

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