EDM Announces First Quarter 2026 Update And Advancement Of Key Milestones

April 08, 2026 7:30 AM EDT | Source: EDM Resources Inc.

Halifax, Nova Scotia--(Newsfile Corp. - April 8, 2026) - EDM Resources Inc. (TSXV: EDM) (FSE: P3Z) ("EDM" or the "Company") is pleased to provide a summary of its activities during the first quarter of 2026 and an update on key milestones supporting the advancement of the Scotia Mine toward production.

The President and CEO, Mr. Mark Haywood, stated: "During the first quarter of 2026, EDM achieved significant progress across permitting, capital markets, and project development. With the Fisheries Act Authorization now entering the formal review phase, continued strengthening of our capital structure, and the advancement of technical and exploration programs, the Company is well positioned to transition toward a production decision."

FIRST QUARTER 2026 HIGHLIGHTS
Permitting & Regulatory Progress

The Company has provided a performance bond of $1.16 million in support of its Fisheries Act Authorization ("FAA") application. The Department of Fisheries and Oceans ("DFO") confirmed the FAA application has been deemed complete and has now entered the 90-day review and evaluation period.

Capital Markets & Liquidity

During March 2026, EDM achieved a sustained trading milestone, with its share price trading above the warrant acceleration threshold for the required period, supporting enhanced capital markets positioning. The Company's application for quotation on the OTCQB® Venture Market is nearing completion, with final regulatory steps underway. The Company expects the OTCQB quotation to go live in May 2026, subject to final approvals.

Financing Activities

During the quarter, 4,409,831 warrants with a strike price of $0.14 were exercised, generating gross proceeds of $617,376. The Company also completed the sale of 30,000 units of Silver Crown Royalties, generating approximately $552,800 in net proceeds from the sale.

Exploration & Resource Development

A two-phase gold exploration program has commenced at the Scotia Mine, targeting near-term value enhancement and resource expansion opportunities. Work on an updated NI 43-101 Mineral Resource Estimate is progressing and is expected to be completed in Q2 2026.

Project Development & Technical Work

Costing and scope definition for completion of the proposed NI 43-101 Pre-Feasibility Study (PFS) are being finalized with consultants. The proposed PFS will incorporate revised capital and operating assumptions, including integration of Dense Media Separation (DMS) equipment and updated commodity pricing.

OUTLOOK FOR SECOND QUARTER 2026
EDM's focus for this quarter includes:

Progression through the FAA regulatory review process Completion of the OTCQB listing and expansion of U.S. investor access Advancement and initial results from the gold exploration program Completion of the updated Mineral Resource Estimate Advancement of the proposed NI 43-101 Pre-Feasibility Study toward completion Continued strengthening of the Company's capital structure

About EDM Resources Inc.

EDM is a Canadian exploration and mining company that holds a 100% interest in the Scotia Mine and related facilities near Halifax, Nova Scotia. Through its wholly owned subsidiary, EDM also holds several prospective exploration licenses near its Scotia Mine and in the surrounding regions of Nova Scotia.

The Company's common shares are traded on the TSX Venture Exchange under the symbol "EDM" and the Frankfurt Exchange under the symbol "P3Z". For more information, please contact:

The Company's corporate filings and technical reports can be viewed on the Company's SEDAR+ profile at Further information on EDM is also available on Facebook at , Twitter at , LinkedIn at and Youtube at @edmresources?si=Bvyighil3mSoOKnD

CAUTIONARY STATEMENTS

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

This news release may contain forward-looking statements, including plans, objectives, estimates, and expectations regarding EDM Resources Inc.'s future activities. Such statements are identified by words like "believes," "expects," "plans," "estimates," "may," "could," or similar terms. Forward-looking statements are subject to risks, uncertainties, and assumptions that could cause actual results to differ materially from those anticipated. These include, but are not limited to, mineral resource estimates, exploration and development results, project timing, market conditions, commodity prices, financing, and operational risks. For a discussion of risk factors, please refer to EDM's Management's Discussion and Analysis for the year ended December 31, 2024. EDM does not guarantee the accuracy of forward-looking statements and readers should not place undue reliance on them.

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Source: EDM Resources Inc.

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