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CALGARY, Alberta, Oct. 19, 2026 (GLOBE NEWSWIRE) — Northern Discovery Metals Inc. (CSE: NOR) (FSE: M1V0) (“Northern Discovery” or the “Company”) is pleased to announce a non-brokered private placement of non-flow-through units (“NFT Units”) and flow-through units (“FT Units”), respectively, for aggregate gross proceeds of up to C$1,500,000 (collectively, the “Offering”).

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The NFT Units will be offered at a price of C$0.75 per NFT Unit, for gross proceeds of up to C$1,000,000, and each will be comprised of one common share of the Company (each, a “Share”) and one-half of one Share purchase warrant of the Company (each such whole warrant, a “NFT Warrant”). Each NFT Warrant will entitle the holder to acquire one Share (each, a “NFT Warrant Share”) at an exercise price of C$0.95 for a period of 24 months.

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The FT Units will be offered at a price of C$0.90 per FT unit, for gross proceeds of up to C$500,000, and each will be comprised of one common share of the Company to be issued as a “flow-through share” within the meaning of the Income Tax Act (Canada) (the “Tax Act”) (each, a “FT Share”) and one-half of one transferable common share purchase warrant of the Company (each such whole warrant, a “FT Warrant”). Each FT Warrant will entitle the holder to acquire one non-flow-through common share of the Company (each, a “FT Warrant Share”) at an exercise price of C$1.10 for a period of 24 months.

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The Company intends to use the net proceeds from the sale of the NFT Units for exploration expenses in respect of the Company’s exploration projects, and for general working capital purposes, including investor relations activities.

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The Company intends to use the proceeds from the sale of the FT Shares to incur eligible “Canadian exploration expenses” that are intended to qualify as “flow-through mining expenditures”, as those terms are defined in the Tax Act.

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The Offering is expected to close on or about November 16, 2026. Closing of the Offering is subject to the receipt of all necessary corporate and regulatory approvals, including approval of the Canadian Securities Exchange. All securities issued in connection with the Offering will be subject to a statutory hold period of four months and one day from the applicable date of issuance.

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This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities referred to in this news release have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration under the U.S. Securities Act and applicable U.S. state securities laws or an available exemption from those registration requirements.

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About Northern Discovery Metals Inc.

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Northern Discovery Metals Inc. is a mineral exploration company focused on the acquisition, exploration and advancement of mineral properties in Canada. The Company is exploring for copper at its Vent Copper Project on Vancouver Island, British Columbia. Northern Discovery Metals intends to advance the Vent Copper Project through systematic exploration and evaluation of its mineral potential.

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On Behalf of the Board of Directors