Nord Welcomes Federal Tax Proposal as It Advances Gowganda Silver Recovery

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

Cobalt, Ontario – September 29, 2026 – Nord Precious Metals Mining Inc. (TSXV: NTH, OTCQB: NPMMF, FSE: QN3) (“Nord” or the “Company”) welcomes the Carney government’s proposed Productivity Mega Deduction as it advances engineering and permitting for its Gowganda Silver Tailings Project. The proposed investment incentives come as Nord defines the processing equipment and water systems needed to build a silver-recovery operation around historical tailings already at surface.

“Canada should be putting the value in its historic mining districts back to work,” said Frank J. Basa, P.Eng., Chief Executive Officer of Nord. “At Gowganda, we are defining the equipment and water systems needed to turn a silver resource into a recovery business. We welcome policies that encourage that investment. Responsible tailings recovery deserves a prominent place in Canada’s resource development strategy.”

The Mining Association of Canada has welcomed the proposal’s broad support for mining and mineral-processing investment, including precious metals. In its September 15 statement, President and CEO Pierre Gratton said: “Today’s announcement by Prime Minister Carney is transformative.”

The case for reinvesting in established mining districts was also highlighted in Bryan Detchou’s September 11 Northern Miner article, “Canada’s critical-minerals shortcut is old mines.” Nord believes that investment agenda should also embrace responsible recovery of historical tailings.

Connecting the proposal to Gowganda

For Nord, the clearest potential application is the equipment needed to turn Gowganda’s tailings into an operating recovery project: mineral-processing machinery and systems to supply, recycle and treat process water. Permanent immediate expensing of qualifying purchases could lower the after-tax cost of that investment when Nord can use the deductions. It is a relevant consideration as engineering defines the project’s capital requirements and the Company evaluates equipment that could serve successive recovery campaigns.

Nord’s September 15 resource update reported an updated mineral resource estimate to support that work. Its September 22 engineering and permitting update reported revised process-design parameters, mass and water balances, and plans to draw process water from the underground mines. Nord is coordinating the recovery-permit program with the separate water-taking and environmental approvals required for an operation. The objective is to establish Gowganda as a base for a wider recovery business supported by TTL Laboratories in Cobalt. Commercial recovery remains subject to technical and economic work, financing and approvals.

Proposed measures and legislative status

As of September 26, 2026, the Department of Finance draft legislative proposals have not been enacted. They would permanently allow a 100% deduction for a broad range of eligible equipment acquired on or after September 15, 2026, generally in the year it becomes available for use. Qualifying Canadian development expenses (“CDE”) incurred from that date would also become fully deductible. Eligibility for equipment and CDE is assessed separately; the proposal does not establish that Nord’s tailings expenditures qualify. See Finance Canada’s backgrounder.

As Prime Minister Mark Carney explained in his September 15 remarks: “The effect is straightforward: when you invest in Canada, you can deduct substantially more of that investment immediately.”

Nord’s existing tax position

Nord’s audited 2025 financial statements disclose C$29.925 million in consolidated non-capital tax-loss carryforwards at December 31, 2025, expiring between 2026 and 2045, with no related deferred tax asset recognized. Available losses may shelter future taxable income and limit the additional near-term cash benefit of faster deductions. Their use is subject to entity-specific tax rules; the full consolidated balance should not be assumed available against Gowganda income. Any benefit to Nord therefore depends on final legislation, qualifying expenditures and its future tax position.

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 enactment and implementation of the proposed tax measures; eligibility, timing and investment benefits of deductions; use of tax losses and future taxable income; Gowganda engineering, equipment requirements, permitting, financing, silver recovery and potential cash flow; successive recovery campaigns and TTL’s regional processing business; Castle East exploration and conceptual open-pit potential; and Re-2Ox opportunities.

These statements assume favourable final legislation and tax treatment, eligible expenditures, sufficient taxable income where required, adequate financing, satisfactory technical and economic results, and receipt of necessary approvals. Actual outcomes may differ because of legislative changes, tax interpretations, entity-specific restrictions and expiry of losses, financing conditions, metallurgical performance, environmental and water-management requirements, consultation outcomes, permitting delays, costs and commodity prices. Preliminary work does not establish economic viability or a production decision.

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.