hydrothermal-style Au,Ag,Pb project of roughly 10.0 km² in Central Norway.

Vinterskard Project

The Vinterskard Project is a polymetallic exploration project measuring 10 km2 in size, with notable precious metal grades located in the Grane municipality of Nordland, representing an exciting opportunity to fully investigate this precious metal potential. Situated approximately 18 km from Trofors, the site benefits from excellent infrastructure, lying in close proximity to the E6 highway and local railway line, and is a mere 1.2 km from the nearest road. The regional geology is characterized by quartz-diorite units within the Helgeland Nappe Complex and the project is highlighted by the Skjerphaugen occurrence, a hydrothermal vein system reported to be approximately 0.7 m in thickness. Waste rock material contains disseminated galena and bands of nearly massive arsenopyrite locally reaching 3 to 4 centimeters in thickness. Historical NGU sampling has yielded significant high-grade results, with assays returning up to 29.08 g/t Au, 193.2 g/t Ag, and 2.97% Pb (29,733 ppm) (Geo.ngu.no, 2026)¹ (see Figure 1). Furthermore, the quartz vein material returned up to 0.12% Co, presenting an additional target, yet to be fully assessed. Vinterskard currently remains largely untested by modern exploration, although with compelling historical high-grade gold, silver, and polymetallic results.

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 6: Overview of the Vinterskard Project, Vinterskard project — Figure 6: Overview of the Vinterskard Project

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

Non-binding Letter of Intent with MERIDIANA Capital Group GmbH (8 July 2026): framework for a recapitalization creating a German-listed, silver-focussed exploration company.
Teako is to contribute a 90% interest in the seven silver projects to a newly formed Norwegian subsidiary, contributed to the proposed resulting issuer for EUR 3,600,000: EUR 100,000 in cash and a proposed EUR 3,500,000 equity consideration at closing in the proposed resulting issuer.
Teako would retain a 10% free carried interest in the projects and the proposed equity consideration in the proposed resulting issuer, and is expected to become its preferred provider of Norwegian exploration services.
Minimum exploration expenditure of €2,250,000 (approximately C$3,650,000) across the package post-closing: €500,000 by the first anniversary, €750,000 by the second and €1,000,000 by the third.

Work commitments are aggregated across the seven-project package, not per individual project. The letter of intent is non-binding and completion remains subject to definitive agreements.

The rocks are all still here.

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Vinterskard gold-lead project