Vancouver, British Columbia--(Newsfile Corp. - July 29, 2026) - J2 Metals Inc. (TSXV: JTWO) (OTCQB: JTWOF) (FSE: OO10) ("J2" or the "Company") is pleased to report its audited financial results for the fiscal year ended March 31, 2026, and to provide an update on corporate and exploration activities. The Company's audited annual consolidated financial statements and accompanying management's discussion and analysis for the year ended March 31, 2026, are available on SEDAR+ (www.sedarplus.ca) and on the Company's website (www.j2metals.ca). All dollar amounts are expressed in Canadian dollars unless otherwise noted.
Fiscal 2026 Financial Highlights
Cash of $3,902,131 as at March 31, 2026, compared to $925,927 as at March 31, 2025.
Working capital of $3,764,993 as at March 31, 2026 (excluding the deferred flow-through share premium).
Total assets of $7,838,077 as at March 31, 2026, compared to $4,081,079 as at March 31, 2025.
Total shareholders' equity of $7,415,880 as at March 31, 2026, compared to $3,675,279 as at March 31, 2025.
Net loss of $1,804,309 ($0.08 per share) for the year ended March 31, 2026, compared to a net loss of $715,400 ($0.11 per share) for the year ended March 31, 2025.
Raised aggregate gross proceeds of approximately $4.76 million through private placements completed during the fiscal year, funding the Company's exploration and corporate growth initiatives.
Sierra Plata Project - Exploration Momentum
The Company's flagship Sierra Plata silver-gold-antimony project in the Zacualpan-Taxco district of Guerrero State, Mexico, has advanced rapidly since J2 secured the exclusive option to acquire a 100% interest in December 2025, with the TSX Venture Exchange (the "TSXV") approving the definitive option agreement on May 25, 2026. Recent field highlights include:
High-grade grab samples: Sampling of the historic San Miguel mine waste dumps returned silver equivalent grades of up to 3,868 g/t AgEq (announced February 24, 2026) and up to 845.4 g/t AgEq (announced May 4, 2026).
New historic workings identified: field crews identified six historic mine workings across the property, including the El Samano, El Chinicuil, and El Cedro Rojo mines, and collected 53 rock samples with polymetallic sulphide mineralization observed, from just 250 of the project's 2,200 hectares mapped to date (announced on June 15, 2026).
Geophysics mobilized: a high-resolution UAV drone magnetometer survey covering approximately 1,885 hectares was mobilized on July 8, 2026, to build a three-dimensional structural model ahead of a planned maiden drill program.
Country Manager appointed: Carlos Cham Dominguez, a geologist with nearly two decades of experience in the Taxco epithermal district, was appointed Mexico Country Manager on May 4, 2026, to lead the technical program.
Other Corporate Highlights
Twenty Mile Metals spin-out: the Company completed its plan of arrangement on April 20, 2026, spinning out its Twenty Mile Property in British Columbia into Twenty Mile Metals Inc. ("Twenty Mile"). Shareholders received 0.21921 of a Twenty Mile Metals common share for each J2 common share held on the record date of April 27, 2026, and Twenty Mile Metals commenced trading on the TSXV under the symbol "MILE" on June 24, 2026.
Board strengthening: the Company appointed Simon Clarke to its board of directors on December 22, 2025, and Steven Gold on April 13, 2026, adding significant capital-markets and natural resource sector leadership experience.
Financings: the Company completed a series of private placements for aggregate gross proceeds of approximately $4.76 million during the fiscal year, including an upsized $3.8 million private placement that closed in two tranches on February 5 and 6, 2026, and a flow-through offering that closed on May 14, 2026.
Miniac Project (Québec): a 41-kilometre OreVision IP survey was completed at Miniac in the Abitibi Greenstone Belt, identifying prospective chargeability and resistivity anomalies coincident with previously identified EM targets and supporting a planned Phase II drill program of up to 5,000 metres.
J2's CEO, Thomas Lamb, commented: "Fiscal 2026 was a transformational year for J2. We advanced from a single-project explorer to a multi-jurisdictional company with a strengthened balance sheet, a strengthened board, and a flagship new asset in Sierra Plata that we believe has the potential to be a true district-scale discovery. With cash and working capital in place, drill permitting underway, and our technical team on the ground in Mexico, we are well positioned to advance Sierra Plata toward a maiden drill program and to continue building shareholder value."
About the Sierra Plata Project
The Sierra Plata Project is a 2,203-hectare silver-gold-antimony exploration project situated within Zacualpan, one of the most important historically productive epithermal mining districts in Mexico, and includes five past-producing high-grade mines localized along regionally extensive, structurally controlled vein corridors. Recent sampling of waste dumps at Sierra Plata returned grades of up to 3,868 g/t AgEq. Mineralization is hosted in quartz-dominant vein systems containing fine-grained sulphides with associated gold and antimony, reflecting a low to intermediate epithermal system with strong vertical metal zoning. The Company anticipates identifying a large number of high-priority targets for drill evaluation.
About J2 Metals Inc.
J2 Metals Inc. (TSXV: JTWO) (OTCQB: JTWOF) (FSE: OO10) is a multi-commodity explorer advancing silver, gold, and antimony projects with historical production or significant drill results across established mining jurisdictions in Mexico, Québec, and Alaska. At Sierra Plata in Zacualpan, Mexico, one of the most historically productive epithermal districts in the country, recent waste dump sampling has returned grades of up to 3,868 g/t AgEq across five past-producing silver-gold mines. Active geological mapping and drill permitting are underway. At the Miniac Project in Québec's Abitibi Greenstone Belt, a newly completed 41-kilometre OreVision IP survey has identified prospective chargeability and resistivity anomalies coincident with previously identified EM targets, supporting a planned Phase II drill program of up to 5,000 metres across a largely untested 7-kilometre conductive horizon.
At the Napoleon Project in the Fortymile district of Alaska, a prolific placer camp with up to one million ounces of historical gold production, historic rock grab samples have returned up to 596 g/t gold, with historical drilling by Teck and Kennecott reporting intercepts of 8.9 g/t gold over 3 metres and 0.9 g/t gold over 79 metres.
Qualified Person
The technical information contained in this news release has been reviewed and approved by Graham Giles, P.Geo., a Technical Advisor to J2, who is a Qualified Person as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
For further information, please contact:
Thomas Lamb
CEO and Director
J2 Metals Inc.
E-Mail: info@j2metals.ca
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's property. This news release contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.
This news release contains forward-looking statements within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements regarding the Company's exploration plans, potential drill targets, anticipated exploration results, the Company's financial position and capital resources, and the timing and success of future exploration and corporate development activities. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. Forward-looking statements are based on a number of material assumptions, including, but not limited to, assumptions that required permits and regulatory approvals will be obtained on anticipated timelines, that the Company will have sufficient financing to fund its planned exploration programs, that exploration and survey results will support continued advancement of the projects, that contractors and personnel will remain available, and that commodity prices and general market and economic conditions will remain consistent with management's expectations. These risks and uncertainties include, but are not limited to, geological risk, exploration risk, fluctuations in commodity prices, operational risks, regulatory approvals, and general market and economic conditions. Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements, except as required by applicable securities laws.
Silver Equivalent (AgEq): Silver equivalent values are calculated using the formula AgEq (g/t) = Ag (g/t) + [Au (g/t) × 60], based on an assumed gold-to-silver price ratio of 60:1 No adjustment has been made for metallurgical recoveries; 100% recovery of both metals is assumed, as no metallurgical testwork has been completed on the Sierra Plata Project. Individual silver and gold grades for all samples referenced herein are disclosed in the Company's news releases dated February 24, 2026 and May 4, 2026. Grab samples are selective by nature and are not necessarily representative of the mineralization hosted on the Sierra Plata Project.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/307182
Source: J2 Metals Inc.
