Vault Strategic Mining Acquires Mirage-Mariposa Tungsten Mine

Vancouver, British Columbia — May 8, 2026 — Leads & Copy — Vault Strategic Mining Corp. (TSXV: KNOX) (OTC: KNXFF) (FSE: M850) (WKN:A41WE4) has entered into a definitive mineral property purchase agreement to acquire a 100% interest in the historical Mirage-Mariposa Tungsten Mine, part of the Gray Eagle Project in Inyo County, California, and the North Tungsten Project in Nunavik, Quebec.

The agreement is with two arm’s length vendors.

Quinn Field-Dyte, CEO of Vault Strategic Mining Corp., expressed enthusiasm about adding the Mirage-Mariposa Tungsten Mine to their U.S. historical mine portfolio. He noted the combination of tungsten and precious metals in a skarn environment. The company aims to use modern exploration techniques to confirm and expand the system, and is looking forward to engaging with exploration crews to commence work at Mirage-Mariposa.

The Gray Eagle Project comprises 33 contiguous unpatented lode claims totaling approximately 681.8 acres, situated about 10 kilometers east of Bishop, California, within the White Mountains. It features multiple mineralized prospects along a granite–limestone contact, which is associated with tungsten skarn mineralization and hydrothermal precious-metal vein systems.

The Mirage-Mariposa Mine is documented in the U.S. Geological Survey’s (USGS) Mineral Resource Data System as a past-producing tungsten and silver site. The USGS identifies tungsten as the primary commodity and silver as a tertiary commodity. Alternate names include the Golden Mirage and Mariposa Claims, Wooley Mine, Black Canyon RARE II Area, and Golden Mirage Mine.

The USGS MRDS record indicates replacement-style and disseminated mineralization, with contact metasomatic processes. The primary mineralization control is a contact zone, with intense wallrock alteration and carbonate-silicate alteration. Reported minerals and materials include scheelite, garnet, epidote, quartz, and argentite.

Historical resources at the Mirage-Mariposa are approximately 21,000 indicated tons and 34,400 inferred tons, with an average grade of 0.15% tungsten trioxide, according to the USGS record. Historical underground and surface workings include a shaft in the ‘glory hole’ reported to be 17 feet deep and a 40-foot-wide ‘glory hole’.

The historical resource discussion divided the mineralized area into blocks. Block 1 was reported to contain approximately 5,300 tons of indicated subeconomic resources. By extending the strike length 37 feet to the southeast, an additional 15,800 tons of indicated subeconomic resources were calculated as Block 2. Two inferred blocks were also calculated: the first comprising approximately 11,500 tons by extending Block 1 37 feet below the shaft, and the second comprising approximately 22,600 tons by extending Block 2 an additional 53 feet along strike.

The USGS MRDS record references historical publications, including California State Mining Bureau reporting from 1894, U.S. Geological Survey Professional Paper 110 from 1918, Knopf’s 1912 USGS Bulletin 540, Bateman’s 1956 report on the economic geology of the Bishop tungsten district, and a 1983 U.S. Bureau of Mines mineral investigation of the Black Canyon RARE II Area.

The mineral properties have undergone extensive historical exploration, development, and past commercial production or advanced-stage evaluations. Historical exploration results, sampling, drilling, and resource estimates do not comply with current NI 43-101 requirements and should not be relied upon as current mineral resources or reserves.

The company has been provided with a compilation of historical data, including non-NI 43-101 compliant resource estimates and sampling results. Management believes this information is relevant for exploration targeting, geological interpretation, and the design of modern exploration programs.

To define current mineral resources, assess metallurgy, and evaluate economic viability, the company will complete confirmation drilling, modern metallurgical studies, updated technical evaluations, and NI 43-101 compliant mineral resource estimates and feasibility studies. There is no assurance that historical results will be confirmed or that any project will advance to economic viability.

Under the agreement, Vault may acquire a 100% interest in the Project consisting of 33 lode mining claims consisting of 681.8 from two arms length vendors for total consideration of US$380,000 in staged cash payments and the grant of a 2.0% net smelter return royalty in favor of the vendors.

The consideration is structured with cash payments due upon execution (US$10,000), 60 days (US$25,000), 6 months (US$85,000), 12 months (US$85,000), 18 months (US$85,000), and 24 months (US$85,000) for a total of US$380,000.

Vault Strategic Mining Corp. focuses on acquiring and advancing strategic and critical mineral projects in top-tier mining jurisdictions, emphasizing historical and underexplored assets.

Vault Strategic Mining Corp. trades on the TSX Venture Exchange (TSXV: KNOX), OTC Markets (OTCID: KNXFF), and the Frankfurt Stock Exchange (FSE: M85).

Historical information has been reviewed against available reports but cannot be independently verified to current NI 43-101 standards. Past results from nearby properties may not be indicative of mineralization on the company’s properties.

Mr. William Feyerabend, CPG, has reviewed and approved the disclosure in this news release for consistency with NI 43-101 reporting requirements.

Source: Vault Strategic Mining Corp.