GreenLight Metals Signs Binding Term Sheet with Barrick for Staged Earn-In Joint Venture at Kalium Canyon Project in Nevada's Walker Lane

Medford, Wisconsin--(Newsfile Corp. - May 7, 2026) - GreenLight Metals Inc. (TSXV: GRL) (OTCQB: GRLMF) ("GreenLight" or the "Company") is pleased to announce that, through its wholly owned subsidiary Green Light Wisconsin LLC, it has signed a binding term sheet (the "Term Sheet") with a wholly owned subsidiary of Barrick Mining Corporation ("Barrick"), for a proposed staged earn-in and joint venture at GreenLight's Kalium Canyon gold project in Esmeralda County, Nevada (the "Property" or "Kalium Canyon"). Pursuant to the Term Sheet, Barrick may earn an initial 60% project-level equity interest by completing US$7.5 million in Qualifying Exploration Expenditures ("QEE"), limited to direct project costs, and making aggregate cash payments of US$1.0 million to GreenLight over a six-year Stage 1 earn-in period.