Vancouver, B.C. – February 25th, 2026 – TheNewswire - IDEX Metals Corp. (“IDEX” or the “Company”) (TSXV: IDEX; OTCQB: IDXMF) is pleased to report final assay results from drill holes KSMT25005 and KSMT25006 at its 100%-owned Freeze Copper-Gold-Molybdenum Project in Idaho, USA (“Freeze”, or the “Property”). The 2025 drill program succeeded in confirming continuous mineralization across the Kismet Breccia Complex (“Kismet”), with each of the campaign’s six drill holes intersecting significant copper.

Drilling demonstrated that the Freeze system extends from a surface-exposed tourmaline breccia complex into deeper intrusive-hosted mineralization. Notably, drill hole KSMT25006 intersected intrusive-hosted copper-molybdenum mineralization, following the penetration of a pyrite-rich shell, representing a key geological transition within the system. Increasing molybdenum grades and molybdenite-chalcopyrite-bearing vein networks occurring towards the bottom of the hole – strong geochemical vectors – suggest proximity to a deeper magmatic-hydrothermal source.

These geological observations are supported by newly-acquired induced polarization (IP) and Magnetotelluric/Extremely Low Frequency (MT/ELF) geophysical data, which define a large, coherent conductivity anomaly at depth beneath the Kismet and North Breccia trend; this represents a priority porphyry target to begin drilling in 2026.

Exploration Highlights

• KSMT25005 intersected 87.03 m of 0.36% CuEq (0.285% Cu, 2.04 g/t Ag, 57 ppm Mo), within 287.43 m of 0.27% CuEq (0.19% Cu, 1.27 g/t Ag, 72 ppm Mo) 

• KSMT25006 intersected 109.80 m of 0.54% CuEq (0.12% Cu, 0.65 g/t Ag, 517 ppm Mo), within 428.55 m of 0.278% CuEq (0.12% Cu, 0.68 g/t Ag, 186 ppm Mo) 

• Largest intersection of intrusive-hosted copper–molybdenum mineralization to date, in drill hole KSMT25006, following penetration of a pyrite-rich shell 

• Strong molybdenum enrichment and molybdenite veining at depth, supporting vectoring towards a magmatic-hydrothermal source 

• IP and MT/ELF geophysics define a large conductivity anomaly at depth, directly beneath Kismet and the North Breccia 

• Expanded Phase II drill program set to begin Spring 2026, designed to expand the resource through the Kismet Corridor (KismetNorth BrecciaFrostfall), along with exploratory drilling at the CM, Olive Creek, and Devils Slide targets 

• First, drill-ready target defined for 2026, stepping onto the North Breccia and testing the center of the geophysical anomaly 

Clayton Fisher, CEO of IDEX Metals Corp. commented, “Our 2025 drill program clearly demonstrated the consistent presence of copper mineralization from surface to depth across an emerging porphyry prospect at Freeze. We have two tourmaline breccias exposed at surface, copper mineralization in all six drill holes completed to date, and — critically — we’ve now intersected intrusive-hosted copper-molybdenum mineralization, after drilling through a pyrite shell in hole KSMT25006.”

“The increasing molybdenum grades and molybdenite veining at the bottom of that hole provided exactly the kind of geological indicators we want to see as we vector towards a deeper magmatic source. When we overlay that data with our IP and MT/ELF geophysics – which define a large conductivity anomaly directly below Kismet and the North Breccia – the picture becomes very compelling. In 2026, we plan to step out onto the North Breccia and drill straight down into the heart of that anomaly.”

Figure 1:  Plan Map of Drill Holes Completed in 2025 Drill Season

Table 1:  2025 Drill Program Intercepts for KSMT25001 – KSMT25006

*Copper equivalent calculations used the following assumptions: US$3.75/lb Copper, US$35/oz Silver, US$30/lb Molybdenum, and metallurgical recoveries were assumed to be 90%. All intervals are presented as core lengths as the true thicknesses of mineralization is currently unknown.

Figure 2:  Drill Results for the 2025 Drill Program Showing Lithology and Downhole Copper

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KSMT25005

Drill hole KSMT25005 was drilled off the same pad as KSMT25001 and KSMT25002 but oriented at an azimuth of 45 degrees, to evaluate the eastern extent of the Kismet Breccia Complex. The hole was completed to a depth of 287.43 metres. KSMT25005 was collared in the same breccia unit encountered at the top of all previous holes, consisting of a clast-supported breccia hosting oxide copper mineralization derived from the alteration of primary chalcopyrite with rare bornite. Copper mineralization is strongest near surface and becomes variable downhole.

The breccia matrix is dominated by a distinctive tourmaline-bearing monzonite that brecciates porphyritic granodiorite. This monzonite contains abundant 0.5–1 cm acicular tourmaline and represents a late-stage intrusive phase that can be correlated across all drill holes completed to date. Towards the end of the hole, a sequence of tourmaline-bearing intrusive pulses and hydrothermal fluids overprints an earlier tonalite phase, accompanied by magnetite, tourmaline, and pyrite. These features indicate a sustained and evolving hydrothermal system along the eastern margin of the breccia complex.

KSMT25006

Drill hole KSMT25006 was the final hole completed during the 2025 exploration campaign at the Property. The hole was collared approximately 340 metres north of drill holes KSMT25001, KSMT25002, and KSMT25005, and was drilled at an azimuth of 340 degrees to a total depth of 428.55 metres. The primary objectives of KSMT25006 were to test the northern extent of the Kismet Breccia Complex, evaluate its potential connection to the North Breccia Zone (as referenced in a previous news release), and assess the structural and mineralogical relationship with Hornet Creek, which is interpreted to represent a major control on mineralization across the Freeze Property. Drilling was terminated due to challenging weather conditions, access, drill suitability and safety considerations.

Figure 3:  KSMT25006 Intrusive Mineralization at Depth of 345.03m – Molybdenite & Chalcopyrite with QSP Alteration & D-Vein Stockwork

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KSMT25006 intersected a magmatic breccia sequence at surface, characterized by a monzonitic matrix containing clasts of porphyritic granodiorite and alternating between clast-supported and matrix-supported textures consistent with breccias observed elsewhere on the Property. At depth, the hole transitioned into porphyritic granodiorite that is strongly overprinted by quartz-sericite-pyrite alteration, including D-type pyrite veins and quartz-pyrite-molybdenite-chalcopyrite vein networks. This interval represented the first occurrence of well-developed vein-hosted mineralization encountered during the drill program and is interpreted to form part of a pyrite-rich shell associated with an underlying magmatic-hydrothermal system.

Integrated evaluation of lithology, alteration, and geochemistry at the bottom of KSMT25006 indicates a vector towards a potential heat source, highlighted by increasing molybdenum values (as molybdenite) and the development of localized potassic alteration overprinted by phyllic alteration. These observations, when considered alongside newly-acquired geophysical data, support the interpretation that a deeper, mineralized magmatic-hydrothermal system may be present within the broader Kismet corridor.

Induced Polarization (IP) Survey

Figure 4:  IP Results, High Chargeability Feature Trending NW Along the Kismet Corridor

IP was completed during the 2025 season by Moombarriga Geoscience Pty. LT totalling 4.8 line-km. The IP was targeting the zone between the North Breccia Target and the Olive Creek drainages. The IP reveals several conceptual targets that will be followed up on during the 2026 exploration campaign.

At Kismet, IP data define a broad, mildly-chargeable and moderately-resistive feature spatially coincident with the Kismet tourmaline breccia complex. This feature occurs outboard of a distinct, highly-chargeable and highly-resistive anomaly that extends northward from Kismet toward the North Breccia. The Hornet–North Breccia anomaly is spatially coincident with a pyrite-rich shell intersected in drill hole KSMT25006 and is interpreted to represent the flank of a magmatic-hydrothermal system.

Figure 5:  IP Results (Figure 4, Cross Section B-B')

The Olive anomaly is defined as a focused zone of elevated chargeability within a moderately-resistive host, consistent with a discrete and vertically-continuous subsurface feature. The continuity and geometry of the anomaly are interpreted to suggest a localized structural conduit or a vertically-continuous intrusive feature. Its position outboard of the Kismet complex and the Hornet–North Breccia system highlights it as a prospective target wherein sulfide mineralization may be spatially concentrated along a structural corridor. Field reconnaissance indicates that the area is covered by Tertiary basalt flows, which mask the interpreted lithologies at depth. The Olive target is therefore considered to warrant follow-up drilling to test its depth extent and relationship to known mineralized zones.

The southeasternmost portion of the IP section is characterized by a zone of elevated resistivity with minimal associated chargeability. This anomaly is currently unconstrained but spatially coincides with mapped diorite intrusive rocks with localized tourmaline development, sodic–calcic alteration, and zones of autobrecciation. The geophysical response defines a coherent and laterally-continuous zone that is distinct from the chargeable features observed to the northwest. Additional fieldwork will aim to further constrain the relationship between the IP and lithological characteristics within this zone.

Magnetotelluric (MT) and Extremely Low Frequency (ELF) Surveys

Figure 6:  MT & ELF Results with 2026 Drill Targets

In 2025, IDEX completed a joint Magnetotelluric (MT) and Extremely Low Frequency (ELF) survey covering large parts of the Freeze Property, with a particular focus on the Kismet Breccia Complex and the surrounding mineralized corridor. The survey produced a Property-wide resistivity and conductivity dataset that has since been inverted and reprocessed. The results continue to outline a large and coherent geophysical system centered on the Kismet corridor.

In the immediate vicinity of the Kismet breccia pipe, the resistivity model defines a shallow, localized zone of relatively weak resistivity (~400 ohm-m) that is limited in vertical extent. This shallow response is spatially associated with – but offset from – a deeper zone of moderate conductivity developed beneath and adjacent to the breccia. This geometry is consistent with the Company’s interpretation of Kismet as a shallow expression of a deeper magmatic-hydrothermal system, with the moderate conductivity anomaly corresponding to a pyrite-rich shell. This thesis is strongly supported by the intersection of a pyrite shell at the bottom of drill hole KSMT25006.

The moderate conductivity anomaly extends to depth beneath the North Breccia and continues northwest towards the Frostfall epithermal gold target, indicating continuity of the geophysical system beyond the immediate Kismet area. In addition, a highly conductive buried anomaly (100–200 ohm-m) is apparent at approximately 800 m depth beneath the North Breccia, highlighting the potential presence of a large, deep-seated magmatic-hydrothermal system with tourmaline breccia complexes developed along the margins of a substantial intrusive body.

Figure 7:  MT & ELF Results of Kismet Corridor (Figure 6, C-C' Cross Section)

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Next Steps

The 2025 field program at the Freeze Property was successful in accomplishing all of its primary goals. The program resulted in the generation of multiple new drill-ready targets and the discovery of two additional mineral showings on the Property. Based on these results, IDEX is advancing plans for a preliminary 2026 exploration program. As a whole, it is designed to systematically test the interpreted porphyry source underlying the Kismet Corridor, and to define the scale and geometry of the broader magmatic-hydrothermal system at Freeze.

• Drilling starts at the North Breccia, designed to vertically test beneath the breccia into the underlying conductivity anomaly identified by MT/ELF data 

• Deep, vertically-oriented drill holes to evaluate the transition from breccia-hosted and pyrite-shell mineralization to potential porphyry-style mineralization at depth 

• Follow-up drilling to refine geological and geophysical vectors, including assessment of intrusive phases, alteration zoning, and copper–molybdenum distribution 

• Expanded induced polarization (IP) surveys along the Kismet corridor to further constrain sulfide-rich zones and prioritize additional drill targets 

• Continued geological mapping and geochemical sampling to refine structural controls and support drill targeting 

Figure 8: Kismet Anomaly with Proposed Drill Hole from North Breccia (Figure 6 MT/ELF, D-D’ Cross Section)

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Figure 9:  Freeze Project Drill Targets Generated from 2025 Exploration Program

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Sample Analysis and QAQC

All drill core samples were prepped and analyzed at AGAT Labs Analytical in Calgary, Alberta, and Thunder Bay, Ontario, ISO 17025 and ISO 9001 certified laboratories. Samples were dried and crushed to 2 mm, from which a 250 g sub-sample split was then pulverized to 85% passing a 75-micron sieve. Following preparation, a 48-element 4-acid digestion (method 201-071) was conducted. For this, a 0.25 g aliquot of the prepared pulp was digested in a 4-acid solution consisting of hydrochloric, nitric, perchloric and hydrofluoric acids. 4-acid is a near total digest and only the most highly resistant minerals are not dissolved. The resulting solution was analyzed via ICP-OES and ICP-MS. Lower detection limits for this procedure are 0.01 ppm for silver, 0.5 ppm for copper, 0.05 ppm for Molybdenum and 0.1 ppm for Tungsten.

Gold was analyzed by 202-051, a 30-gram fire assay fusion with AAS finish. No significant results were reported.

Samples with initial results beyond the upper detection limit of the 201-071 method were analyzed by over-limit 201-470 procedure (ICP-OES and/or ICP-MS) for copper. For copper, the threshold is >1%.

AGAT Labs Analytical employs internal quality control standards, duplicates and blank samples at set frequencies. Blind certified reference materials (CRMs), blank samples and duplicate ¼ core samples were systematically inserted by the Company into the sample stream and analyzed as part of the Company's quality assurance/quality control protocol.

At Freeze, “Internal Dilution” includes calculated weighted averages of the drill hole that may contain lower grade intervals that are greater than five meters in length with less than 1,000 ppm copper. In the table, in general, no intercepts were reported that averaged less than 0.25 % Copper, except where a significant Molybdenite (Mo) or Tungsten (W) intercept was noted. The reported intercepts were calculated using copper as the main element of interest and all copper values are graphed in the cross section for illustration purposes.

Qualified Person

The scientific and technical information in this news release has been reviewed and approved for disclosure by David Hladky, P.Geo. (registered in Alberta), V.P. Exploration of IDEX Metals Corp. David Hladky is a "Qualified Person" for IDEX Metals Corp. within the meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

About IDEX Metals Corp.

IDEX Metals Corp. is a mineral exploration company focused on advancing a portfolio of base and precious metal projects in Idaho, USA. IDEX is primarily focused on the exploration and development of the Freeze Copper-Gold porphyry prospect located in the newly discovered Idaho Copper Belt, Washington County, Idaho. With a strategic land position in a great mining jurisdiction and surrounded by major industry players, IDEX is committed to redefining district-scale exploration in Idaho.

For more information, please visit https://idexmetals.com/

ON BEHALF OF THE BOARD OF DIRECTORS

Clayton Fisher, CEO & Director

For further information regarding IDEX contact:

Investor Relations
info@idexmetals.com
1 (604) 260-0356

Cautionary Note Regarding Forward-Looking Statements

Statements contained in this news release that are not historical facts may be forward-looking statements. These forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In addition, the forward-looking statements require management to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that the forward-looking statements will not prove to be accurate, that the management’s assumptions may not be correct and that actual results may differ materially from such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements. Generally forward-looking statements can be identified by the use of terminology such as “anticipate”, “will”, “expect”, “may”, “continue”, “could”, “estimate”, “forecast”, “plan”, “potential” and similar expressions. These forward-looking statements are based on a number of assumptions which may prove to be incorrect which, without limiting the generality of the following, include: risks inherent in exploration activities; the impact of exploration competition; unexpected geological or hydrological conditions; changes in government regulations and policies, including trade laws and policies; failure to obtain necessary permits and approvals from government authorities; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; the ability to raise funds through private or public equity financings; environmental and safety risks including increased regulatory burdens; weather and other natural phenomena; and other exploration, development, operating, financial market and regulatory risks. The forward-looking statements contained in this press release are made as of the date hereof or the dates specifically referenced in this press release, where applicable. Except as required by applicable securities laws and regulation, IDEX disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

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