Nord CEO Letter to Shareholders re Tailings Permitting at Gowganda

CEO Letter to Nord Shareholders

Dear Shareholder,

Shareholders want to understand what has changed at Gowganda and what must happen before silver recovery can begin. Our latest permitting update (news release below) brings together the resource, engineering and environmental work supporting that objective.

What has changed?

Our November 2024 update concerned Castle tailings. The current recovery-permit work focuses on the Gowganda tailings project, following our acquisition of four adjoining mining leases on March 31, 2026.

That acquisition consolidated Company-controlled material for a proposed recovery operation. GeoVector subsequently completed the September resource update, and T Engineering has delivered revised design parameters, material and water balances, and process-stream tables for review.

The environmental consultant is proceeding under its amended agreement. Its work includes reviewing existing groundwater and surface-water information, screening tailings stability and assembling the technical package and requirements matrix for the proposed application.

Together, these activities help establish what the operation would involve and what supporting information the permitting process requires.

Why does the update discuss mine dewatering?

The release identifies underground mine water as the intended source of water for tailings reprocessing. That connects the proposed recovery operation with the water-taking and environmental work described in the update.

T Engineering’s package distinguishes the water needed at startup, water recycled through the process and additional water needed during operation. Understanding those requirements helps define the proposed water supply and management arrangements.

The announcement describes permitting preparation. It does not announce that dewatering has been approved or has begun.

What approvals are involved?

The Mineral Recovery Permit, Permit to Take Water and applicable Environmental Compliance Approvals address separate requirements.

Our existing environmental assignment contributes information to that work, but full field studies, water-management planning and the separate water-taking and environmental applications remain outside its current scope. Nord and its engineering team are providing the project details needed to define the additional work. The applications may proceed on different schedules.

What comes next?

The next steps described in the release include completing the requirements matrix, sharing it and the project overview with the Ministry, and continuing the operating concept, site layout and application package.

The matrix will help identify the information available and the work still required. The Ministry’s review of the proposed activities and supporting information will help clarify the application requirements.

The release’s planning targets remain subject to supporting work and required inputs. Commercial recovery requires the applicable approvals, and this update does not announce an operating start date. The resource estimate and preliminary work do not establish economic viability or a production decision.

How does this fit the larger business?

Our objective is to establish an initial recovery operation that can support successive campaigns involving suitable Company-owned or third-party material, alongside TTL’s existing infrastructure.

Additional material would require characterization, demonstrated process suitability, appropriate commercial arrangements and the necessary approvals. Establishing the first operation is the practical foundation for pursuing that wider opportunity.
Thank you for following our progress.

Frank J. Basa, P.Eng.
Chief Executive Officer
Nord Precious Metals Mining Inc.

Read the full permitting release below or on the Nord website:

Frank J. Basa, P.Eng. (PEO), CEO and a director of Nord, is the Qualified Person identified in the release and is not independent of the Company. This letter summarizes that release and should be read with its technical disclosure and cautionary statements (see below). Plans, timing, approvals and potential operations are forward-looking and remain subject to financing, technical and economic results, consultation, regulatory requirements and the other risks described in the release.

Dewatering of the Underground Mines to be used for Nord Tailings Reprocessing

Tailings reprocessing water requirement has been calculated for 1000 tonnes per day plant

Link to past Nord news releases:  https://nordpreciousmetals.com/news/2026/

Cobalt, Ontario – Nord Precious Metals Mining Inc. (TSXV: NTH, OTCQB: NPMMF, FSE: QN3) (“Nord” or the “Company”) reports progress on its Gowganda recovery-permit program following a site visit by the Ministry of Mines (MEM) on September 15, 2026. Process water requirement for reprocessing the tailings is to be drawn from the underground mines.

Underground mine dewatering requires Nord to obtain a Permit to Take Water (“PTTW”) and applicable Environmental Compliance Approval (“ECAs”) for the effluent treatment of tailing process water alongside the Mineral Recovery Permit application. Nord and its engineering team are providing the project and operating details needed to define that work and coordinate it with the recovery-permit program.

“We are driving Gowganda toward silver production and building for the opportunity beyond this first recovery project,” said Frank J. Basa, P.Eng., Chief Executive Officer of Nord. “We now have the consolidated ground, an updated tailings silver inventory and engineering work advancing together. Our job is to turn that foundation into an operating recovery business. We are pressing to bring extraction and processing into a coordinated permitting plan, with the water and environmental work moving alongside it. Gowganda is where we intend to establish our operating base, recover value from historical tailings and then progress into hard rock mining in the Gowganda camp.”

Building a Regional Silver Recovery Business

Nord is pursuing a regional processing business anchored by its own silver inventory and TTL’s existing infrastructure. Its earlier November 2024 Castle tailings program set out the opportunity to recover metals while improving legacy mine sites across the Cobalt Camp. The current permit applications focus on the Gowganda tailings project.

Ontario’s Recovery of Minerals framework came into force on July 1, 2025. Nord’s September 2025 Ministry discussions addressed the inclusion of toll processing of adjacent properties in a recovery-permit application. That work advanced the Company’s ambition to compete for processing business beyond its own holdings.
Nord strengthened that foundation by acquiring four adjoining Gowganda mining leases on March 31, 2026. Consolidating the leases with the Castle property expanded the opportunity to build an initial recovery operation around Company-controlled material, with the longer-term objective of handling successive sources of suitable feed.

Since acquiring the leases, the Company has advanced the process design, water requirements and residual-tailings handling. GeoVector’s May appointment led to the September resource update, while July discussions with the Ministry of the Environment, Conservation and Parks (“MECP”) addressed environmental submissions. Nord is bringing these elements together to establish Gowganda as an operating base from which to grow a wider silver-recovery business.

Defining the initial recovery program

An environmental consultant is proceeding under its existing amended agreement, covering desktop reviews of groundwater, hydrogeology and surface-water information, tailings-stability screening, processing permit requirements and completeness matrix, and the technical package for Nord’s proposed initial-stage application. A regulatory-requirements tracker has been assembled and is being populated to organize supporting information and identify remaining work.

Following September discussions with MEM, including the September 15 site visit, Nord is preparing a more detailed operating concept and site layout so the Ministry can advise which proposed activities could be addressed in the recovery-permit application. Nord’s objective is to connect the initial work with the extraction, material movement and physical separation needed for an operating recovery project.

The site discussions also considered whether historical sampling information could reduce additional sampling needed before permitting, subject to the Ministry’s review of the data and proposed activities. Nord is organizing the existing technical record to support that review and identify the further work required.

Nord’s planning targets are September 30, 2026 for the completeness matrix and October for submission of the Mineral Recovery Permit application, with an updated consultant schedule requested. Nord plans to share the matrix and project overview with MEM in early October and arrange a working discussion as application drafting continues. Timing remains subject to the supporting work and required inputs. PTTW and ECA submissions may follow a different schedule.

Full field studies, water-management planning and separate PTTW and ECA applications remain outside the environmental consultant agreement. Nord will approve, attest to and submit its application. Commercial recovery requires the applicable approvals. Nord is also assembling the Indigenous-engagement information needed to support the application and continuing its engagement planning.

Water management and concurrent permitting

Process consultant has delivered revised key design parameters, mass and water balances and detailed process-stream tables for review. The package sets out proposed material flows through the gravity-flotation recovery circuit and distinguishes startup water supply, process-water recycling and ongoing make-up requirements, providing further engineering inputs for Nord’s coordinated recovery-permit, PTTW and ECA work.

The preliminary engineering considers nominal and design throughput cases of 1,000 tonnes of tailings per day, respectively, based on 24-hour schedule during a seasonal operation. The proposed route uses screening, classification and gravity- flotation concentration. These planning assumptions remain subject to testwork and design refinement.

The environmental consultant’s  groundwater and surface-water assessments are intended to inform both the recovery-permit package and the scope of the separate PTTW and ECA applications, connecting the current work directly to the requirements for an operating recovery project.

The PTTW would address water taking where required; applicable ECA would address effluent water treatment . These permissions are separate from the Mineral Recovery Permit. As disclosed in Nord’s August 5, 2026 update, MECP has identified a single point of contact to coordinate its specialists and recommended engagement with MEM to align information needs.

An operating base for a regional processing business

Nord’s objective is to establish a first recovery operation that can support successive campaigns involving additional suitable Company-owned or third-party material. The initial engineering and permitting work is intended to identify which equipment, water systems and operating capabilities could serve that broader role, alongside TTL’s existing silver-processing infrastructure. Additional feed would require characterization, demonstrated process suitability, commercial arrangements where applicable and the necessary approvals. This approach connects recovery and rehabilitation of legacy mine sites with the opportunity to build domestic processing capacity.

Qualified Person

Frank J. Basa, P.Eng. (PEO), Chief Executive Officer and a director of Nord, is a Qualified Person as defined by NI 43-101 and is not independent of the Company.

About Nord Precious Metals Mining Inc.

Nord Precious Metals Mining Inc. (TSXV: NTH) is advancing a silver-recovery and exploration strategy in Ontario’s historic Cobalt-Gowganda mining camp. Its immediate priority is to put the technical, engineering, financing and permitting components in place for silver recovery at Gowganda, with the objective of generating cash flow to support further exploration.

Nord’s recovery strategy is anchored by its wholly owned TTL Laboratories in Cobalt, the only permitted high-grade milling facility in Ontario’s historic Cobalt Camp. TTL combines assay and bulk-sampling services with high-grade silver processing infrastructure and silver doré pouring capability. Its crushing, screening and gravity equipment and bullion furnace give Nord a base for advancing its own projects and developing a broader processing business serving other operators across the historic Cobalt Camp. The Company intends to expand that regional role through technical work, commercial arrangements and the environmental approvals applicable to new material streams.

The Company’s 63 sq. km combined Castle-Gowganda property, including 225 hectares of leases, hosts the past-producing Siscoe-O’Brien, Castle and Millerett silver mines and the Castle East discovery. Nord continues to evaluate Castle East drilling results and the exploration-stage open-pit concept described in its August 31, 2026 update. It is also pursuing metal-recovery opportunities involving the Re-2Ox hydrometallurgical process.

More information is available at www.nordpreciousmetals.com

For further information please contact

Frank J. Basa, P.Eng. | Chief Executive Officer | 416-625-2342

Wayne Cheveldayoff | Corporate Communications | 416-710-2410 | [email protected]

Forward Looking Statements

This news release contains forward-looking statements involving known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied. Such statements are generally identified by words including “expects,” “plans,” “intends,” “estimates,” “potential,” “may,” “could” and similar expressions.

Forward-looking statements include statements regarding the scope and timing of the Okane work and additional service offer; the proposed inclusion of recovery and processing activities in the initial application; use of historical information and further studies; the September 30 completeness matrix, early-October Ministry engagement and October 15 submission target; coordination of PTTW and ECA work; preliminary throughput and seasonal operating assumptions; development of the processing and water-management design; potential recovery and rehabilitation at Gowganda; regulatory approvals; successive recovery campaigns and Company-owned or third-party feed; TTL’s regional processing business; Castle East exploration and conceptual open-pit potential; Re-2Ox opportunities; and the intended use of future tailings cash flow for exploration.

These statements assume the availability of adequate financing, access to the site and required data, satisfactory technical and economic results, consultant capacity, and receipt of necessary regulatory and other approvals. Actual outcomes may differ because of resource and density uncertainty, metallurgical performance, environmental and water-management requirements, consultation outcomes, permitting delays or conditions, capital and operating costs, commodity prices, financing availability and other project risks. The resource estimate and preliminary work do not establish economic viability or a decision to proceed with production.

Forward-looking information reflects the Company’s expectations as of the date of this release. Readers should not place undue reliance on it. The Company does not undertake to update such information except as required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.