33 km² within the Kongsberg Complex beside the Kongsberg silver district, with low-sulphidation epithermal veins including the historic Bergsgruva mine (18,200 t at 4.0% Cu).

Hellemyr Project

The Hellemyr Project (see Figure 1) comprises four contiguous claims, measures 33 km² in size and is located adjacent to the Kongsberg silver mining district in southeastern Norway. The area is well developed, with established railway and road connections to smelters and refineries in Southern Norway, and is located approximately 25 km west of the deep-sea port of Drammen.

Geologically, the Hellemyr Project lies within the Kongsberg Complex, a suite of strongly deformed Proterozoic rocks that were extensively reworked during the Sveconorwegian Orogeny. Mineralization is predominantly low-sulfidation epithermal in character, with base metal mineralization occurring within veins and brecciated zones. The Project hosts several base-metal occurrences, including the historic Bergsgruva mine, which operated intermittently between 1818 and 1889 and produced more than 18,200 tonnes at 4.0% Cu (NGU, 2019)¹. Tailings from these historic workings as seen in Figure 1 is also estimated to contain notable grades, offering promising potential to add value to the Project.

¹Teako has not performed sufficient work to verify the published data reported above, but the Company believes this information to be considered reliable and relevant. Results reported are maximum values and may not be representative of all samples collected within the area being evaluated

²References made to nearby mines and analogous deposits provide context for the regional targets but are not necessarily indicative that these targets host similar tonnages or grades of mineralization.

Figure 5: Hellemyr Project overview map with NGU magnetics and occurrences overlain, with Teako 2024 soil sampling locations and internal pXRF result, Hellemyr project — Figure 5: Hellemyr Project overview map with NGU magnetics and occurrences overlain, with Teako 2024 soil sampling locations and internal pXRF result

Exploration-stage project. Any historical production, grades or estimates quoted in project descriptions are historical in nature, have not been verified by the Company as current mineral resources or reserves, and should not be relied upon. See the cautionary statements and the Qualified Person statement.

Agreement terms

Definitive Acquisition Agreement (5 January 2026): Nordic Minerals AS, a wholly owned Norwegian subsidiary of United Minerals Australia Pty Ltd, holds a 90% interest in the five-project package; Teako retains a non-dilutive 10% free carried interest until a final investment decision.
Initial payment to Teako of NOK 1,450,000 (approximately C$200,000) on signing.
Work commitments of at least C$700,000 in the first 24 months, targeting C$5,000,000 over five years on commercially reasonable efforts.
Contingent milestone payment of NOK 2,700,000 (approximately C$370,000) upon the projects collectively achieving an aggregate JORC-compliant resource of 10 million tonnes, with no minimum grade requirement.
On a final investment decision the parties form a joint venture; Nordic funds the projects to production, with anti-dilution protection on Teako’s free carry.

Work commitments and milestone payments are aggregated across the five-project package, not per individual project.

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