Gamma Resources to File Technical Report for Mesa Arc Project

Vancouver, British Columbia — January 13, 2026 — Leads & Copy — Gamma Resources Ltd. (TSX-V: GAMA; OTCPK: MLLOF; FRA: MRDN) will file an independent NI 43-101 Technical Report for its Mesa Arc Project, supporting the Company’s advancement of the asset and outlining a clear path forward for exploration.

The Technical Report highlights extensive historical exploration providing strong validation, noting the Project benefits from a substantial historical dataset. This includes more than 900 drill holes completed in the surrounding area by prior operators such as United Nuclear, Anaconda, ARCO, and Magnum Uranium, confirming the presence of uranium mineralization and providing a strong foundation for modern exploration.

The report cites a proven geological model with recognized analogues, with mineralization hosted within the Jackpile Member of the Morrison Formation, a proven stratigraphic unit that has supported significant uranium production elsewhere across the western United States.

The report outlines a clear, phased exploration strategy to advance the Project. The Technical Report outlines a two-phase exploration program, beginning with drill validation of historical intercepts followed by geophysics and targeted follow-up drilling, providing a disciplined and capital-efficient pathway to advance the Project.

The Technical Report also finds a shallow, predictable target horizon, based on regional stratigraphy and historical drilling, and the targeted mineralized horizon is expected to occur at depths of approximately 300 to 350 feet, supporting the use of cost-effective reverse-circulation (RC) drilling methods.

Based on the conclusions and recommendations of the Technical Report, Gamma has outlined a phased exploration program, subject to permitting and regulatory approvals, designed to efficiently advance the Mesa Arc Project:

Phase 1 is intended to validate historical drilling results through the twinning of select historical boreholes that intersected the mineralized horizon. This phase is expected to include approximately 10 RC drill holes targeting the most prospective historical intercepts. The estimated budget for Phase 1 is approximately US$300,000.

Subject to the results of Phase 1, Phase 2 is expected to include a passive seismic geophysical survey to better define the geometry and location of potentially mineralized paleochannel systems within the Jackpile Member of the Morrison Formation. Results from the survey would be used to design a follow-up RC drilling program of approximately 20 holes to test priority targets. The estimated budget for Phase 2 is approximately US$1.2 million.

Permitting for the proposed exploration activities is ongoing, and the Company will provide updates as approvals are received and exploration programs commence.

The Technical Report was prepared by Bengt Anders Hogrelius, M.Sc., RPGeo, SME-RM, of Hogrelius Geological Consultants, in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects, and provides a comprehensive evaluation of the Project’s geology, mineralization, historical exploration, and future exploration potential.

Gabriel Alonso-Mendoza, President and CEO of Gamma commented, “With strong and accelerating tailwinds for the U.S. uranium industry, we are excited to advance the Mesa Arc Project following the filing of our NI 43-101 Technical Report. The report confirms that Mesa Arc hosts prospective geology consistent with uranium-vanadium mineralization found elsewhere in the Morrison Formation across the Colorado Plateau, and supports a disciplined, phased, and low-cost exploration program designed to validate historical work and create shareholder value.”

The Technical Report will be filed on SEDAR+ within 45 days of this news release under the Company’s profile at www.sedarplus.ca.

The Company has amended the payment terms of the lease agreement with C Bar B Properties Corporation (“C Bar B”), first announced in the Company’s news release on April 16, 2025. The Company has paid an aggregate amount of US$200,000 of the $250,000 initial consideration and has agreed with C Bar B to defer the payment of $50,000 until April 14, 2026, at which time the Company will pay US$300,000 and will also waive its 90-day cure period if the payment is not made. There is no change to the payments of US$250,000 due on each of April 14, 2027 and April 14, 2028.

Mark Saxon (Fellow of AusIMM, Member of AIG), a qualified person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects and a director of the Company, has reviewed and approved the scientific and technical disclosure in the news release.

The Mesa Arc Project comprises 41 lode mining claims in northern New Mexico, recently expanded by 185 new federal claims to cover approximately 4,520 acres. The district hosts documented historical uranium production and mineralization (McLemore & Chenoweth, 2017), with previous drilling by Magnum Uranium Corp. (2006) outlining a non-NI 43-101 historical estimate of 2.5–3.0 million lbs U₃O₈*.

Gamma Resources Ltd. is a U.S.-focused uranium exploration and development company advancing high-quality assets in the Mountain West region. The Company’s portfolio includes the Green River Project in Utah, comprising 1,100 acres near prominent regional producers, and the Mesa Arc Project in New Mexico, a strategic land position now totaling 4,520 acres that includes historic uranium resources in the Chama Basin. Management believes the Company is uniquely positioned to benefit from the unprecedented policy and market tailwinds reshaping the U.S. nuclear landscape, and help meet this demand with responsibly sourced, U.S.-based uranium supply.

Mr. Gabriel Alonso-Mendoza, President and CEO
Email: gabriel@gammaresourcesltd.com
Tel: (833) 854-6826

Source: Gamma Resources Ltd.