Astra Provides Exploration Update and Receives Independent Analyst Coverage from ATB Cormark Capital Markets

Vancouver, British Columbia–(Newsfile Corp. – June 30, 2026) – Astra Exploration Inc. (TSXV: ASTR) (OTCQB: ATEPF) (FSE: S3I) (“Astra” or the “Company”) is pleased to provide an update on exploration activities at the La Manchuria low-sulphidation epithermal (LSE) gold-silver project in Santa Cruz, Argentina, and the Don Mario high-sulphidation epithermal (HSE) gold project in the Maricunga District of northern Chile. Additionally, independent analyst coverage has been initiated by Zach Matheson, of ATB Cormark Capital Markets.

Astra’s CEO, Brian Miller commented:

“Q2 has been highly productive and transformational for Astra. Field observations from the Phase III drill program at La Manchuria indicate the deposit continues to grow and will create more drill targets for the next phase of drilling which is expected to commence in early Q4. With the recent financing of C$15M, Astra is well-positioned to continue unlocking value from its exploration assets while minimizing dilution.

“Astra’s team has also recently completed some low-cost drill targeting field work at the Don Mario project in northern Chile and is expecting those results in the near future. Don Mario is a high-sulphidation epithermal (HSE) system located in the world-class Maricunga District, one of the most prolific gold belts in the Andes. These types of systems can have immense economic value, as they tend to be large and often oxidized, which reduces production costs. A relevant example with these characteristics is the Salares Norte mine, located approximately 175km north of Don Mario in the same belt, which began production in 2024, and is expected to produce 525 – 550Koz of gold-equivalent at an AISC of USD $450 – $600 per ounce¹ this year.”

Astra’s Exploration Director, Diego Guido commented:

“During the phase III drill program at La Manchuria, every drill hole has intersected veins and/or veinlets, some with visible mineralization, further expanding the system which remains open in all directions.

“At Don Mario, geological mapping and field observations indicate that the area hosts a large HSE alteration system with potential for gold mineralization. This large alteration footprint has been identified by satellite imagery mapping and will be confirmed by spectral mineralogy, but preliminary exhibits the scale and characteristics commonly associated with major HSE gold systems in the Maricunga belt.”

La Manchuria Update

Astra has completed the Phase III drill program, consisting of 16 holes totaling ~5,170 metres of DDH drilling. Initial assays could be received as early as July, but more likely in August and September.

Figure 1: La Manchuria and area of Phase III drill holes. Violet lines are confirmed vein extension defined by previous drilling. Light blue lines indicate veins tested by Phase III drill holes. Green collars are Phase III drill holes. Collars with black dots in the center are deeper holes of approximately 200-300m vertical depth.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8951/303396_250c184c34ee1b93_002full.jpg

Details of the drill program are as follows (see Figure 1):

• Three holes target the Main Zone at vertical depths ranging from 200 to 300 metres;

• Two holes target near-surface strike extension to the northwest of the Main Zone at vertical depths ranging from 100 to 200 metres;

• Four holes target the Eastern Zone for vein extension along strike and at depth, with vertical depths ranging from 50 to 300 metres;

• Three holes target the Basalto Zone for vein extension along strike and at depth, with vertical depths ranging from 100 to 150 metres;

• One hole targets the Road Zone for vein extension along strike with vertical depths ranging from 100 to 150 metres;

• Three holes target the central area between the Main and Eastern Zone for vein extension along strike;

Management is pleased with field observations including visible mineralization in multiple vein structures, some of which are extensions of known veins, while others are new veins. Veins and/or veinlets were encountered in all 16 drill holes. The Company will be providing additional details as further analysis is completed and assays are received.

Don Mario Update

The Company is awaiting results from a program of low-cost, localized drill targeting work at the Don Mario project which was completed in March-June of this year. Management believes there is potential to discover a large HSE gold system in this world-class gold-copper belt, which is estimated to host in excess of 100 Moz² of gold across multiple HSE and porphyry deposits.

Figure 2: Results of satellite alteration using WorldView-3 images. Don Mario claim boundary in blue.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8951/303396_250c184c34ee1b93_003full.jpg

The following work was recently completed by Astra:

• Satellite alteration map (Figure 2) using WorldView-3 images;
• Controlled & Natural Source Audiofrequency Magnetotellurics (CS-NSAMT) survey;
• A combined geochemical (LAG samples) and spectral mineralogy (Terraspec) survey based on a total of around 267 surface samples in a 100 by 200 meters grid.

Satellite alteration mapping (Figure 2) reveals a northwest elongated 1.8 x 2 kilometre silica-alunite anomaly, with localized northwest to north-south oriented pyrophyllite zones, with acidic mineral anomalies surrounded by kaolinite and neutral clays. Positive results from the CS-NSAMT survey, LAG samples, and Terraspec survey could confirm a very compelling HSE drill target in a region known for similar Tier-1 deposits like Salares Norte and La Coipa, for example.

Information disclosed from analogous properties in this news release is not necessarily indicative to the mineralization on the Don Mario property.

Independent Analyst Coverage

On May 22, 2026, Zach Matheson of ATB Cormark Capital Markets initiated research coverage on the Company. The initiation report was prepared independently by ATB Capital Markets. Interested investors should contact ATB Cormark Capital Markets directly to obtain a copy of the report, subject to their policies.

Zach is Director of Institutional Equity Research, Mining. He previously held roles in equity research at Ventum Financial and worked as a geologist at various projects throughout Canada, including Alamos Gold’s Magino and Island Gold Mines, and was a member of the discovery team at Great Bear Resources.

Marketing Services

The Company has entered into a contract with BTV (located at #17 – 19257B Enterprise Way, Surrey, B.C. V3S 6J8 and website: https://www.b-tv.com/) to increase investor awareness, whereby BTV will produce a 1.5 – 2 minute video about the Company for dissemination in its network. This is a one-time production and the Company has paid a fee of C$9,650.

Qualified Person

The technical data and information as disclosed in this news release has been reviewed and approved by Darcy Marud, who is an Independent Director of Astra. Mr. Marud is a Practicing Member of the Association of Professional Geoscientists of Ontario and is a qualified person as defined under the terms of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About the Company

Astra Exploration Inc. is a precious metals exploration company based out of Vancouver, BC that is actively building a portfolio of high-quality projects in some of the most important mining jurisdictions in Latin America.

The La Manchuria gold-silver project in Santa Cruz, Argentina, over which Astra has an option to acquire 90% interest from the owner, Patagonia Gold Corp, is a high-grade gold and silver low sulphidation epithermal (LSE) deposit located in the prolific Deseado Massif which hosts multiple world-class LSE precious metals deposits including Cerro Vanguardia and Cerro Negro, Santa Cruz, Argentina.

The 100% owned Pampa Paciencia gold and silver project in northern Chile is located in the Paleocene mineral province in proximity to such major operating mines as Spence and Sierra Gorda. The project shares several important geological similarities to other Paleocene LSE gold-silver deposits including Faride and El Peñón.

The 100% owned Don Mario (renamed from Cerro Bayo) project in northern Chile is located in the Maricunga belt approximately 20 km from the Refugio Mine. The project hosts a high sulphidation epithermal (HSE) +/- porphyry gold system with similarities to the Salares Norte deposit to the north in the same belt. The Maricunga belt is one of the most endowed regions in the world for gold and copper deposits.

References:

Sources:

¹Fraser, Mike; Dall, Alex
Gold Fields FY 2025 Results
https://www.goldfields.com/reports/q4-2026/pdf/presentation.pdf

²Cabello, José, January 2021
Gold deposits in Chile
https://www.andeangeology.cl/index.php/revista1/article/view/V48n1-3294/html

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

This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the Company’s business activities; exploration on the Company’s properties including drilling at the La Manchuria project. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. Such factors include, without limitation: development of the industry in which the Company operates; risks associated with the conduct of the Company’s business activities; risks relating to reliance on the Company’s management team and outside contractors; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; laws and regulations governing the industry in which the Company operates; the ability of the communities in which the Company operates to manage and cope with the implications of COVID-19; the economic and financial implications of COVID-19 to the Company; operating or technical difficulties; employee relations, labour unrest or unavailability; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and other risk factors disclosed in the Company’s public disclosure documents available on the Company’s profile at www.sedarplus.ca. Readers are cautioned against attributing undue certainty to forward-looking statements or forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.

Source: https://www.newsfilecorp.com/release/303396/Astra-Provides-Exploration-Update-and-Receives-Independent-Analyst-Coverage-from-ATB-Cormark-Capital-Markets