Metatek Signs Follow-On Contract and Additional Contract in Central Asia

Calgary, Alberta–(Newsfile Corp. – July 17, 2026) – Metatek-Group Ltd. (TSX: MTEK) (“Metatek” or the “Company”), the exclusive global provider of Enhanced Full Tensor Gravity Gradiometry (“eFTG”) and Digital Full Tensor Gravity Gradiometry (“dFTG”), today announced that it has been awarded a second multi-disciplinary airborne data acquisition, processing and interpretation contract by the State Oil Company of the Azerbaijan Republic (“SOCAR”). The award follows the successful completion of a smaller test survey program for SOCAR in 2025.

Metatek has also secured a new multi-disciplinary airborne data acquisition contract with a Canadian energy company operating in Azerbaijan. Data acquisition for both projects is expected to take place during the third quarter of 2026.

“This contract represents a repeat engagement with a government customer in Azerbaijan, following the successful execution of a smaller test program last year,” said Dr. Mark Davies, CEO of Metatek. “It reflects the strength of our technology and the expertise of our survey, processing and interpretation teams, whose delivery of high-quality results has earned the confidence of our client and led to this expanded mandate.”

“The addition of a second contract with a Canadian energy company operating in Azerbaijan further demonstrates the versatility of our technology and the value it delivers across multiple resource sectors,” added Dr. Davies. “Together, these projects establish a meaningful body of work in the region, strengthen our presence in Central Asia and create opportunities to build long-term customer relationships.”

Highlights:

• dFTG system mobilization to Azerbaijan for airborne data acquisition is expected in the coming weeks.

• Follow-on contract awarded by SOCAR following a successful 2025 test program.

• Additional multi-disciplinary data acquisition contract awarded by a Canadian energy company operating in Azerbaijan enabling efficient in-country deployment.

• Data processing, interpretation and integration with the 2025 survey and legacy seismic data are expected to be completed in Q4 2026.

About Metatek

Metatek (www.metatek-group.com) is a global geophysical services company providing high-definition mapping of subsurface strategic and critical mineral natural resources, energy (including hydrocarbons), helium and hydrogen, for exploration and development. Unlike traditional exploration companies, Metatek delivers rapid data acquisition, processing and scientific interpretation across air, land, and sea environments.

Metatek supports national energy security and helps accelerate the discovery of hydrocarbons, minerals essential for sustainable power, such as lithium, nickel, and copper, as well as identifying reservoirs for natural hydrogen and geothermal energy.

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Forward-Looking Information

This press release contains “forward-looking statements” and “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities legislation. In some cases, forward-looking statements can be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “seek”, “potential”, “estimate”, “anticipate”, “believe”, “could”, “would”, “should”, “continue”, “plans”, “target”, “is/are likely to”, or the negative of these terms, or similar expressions intended to identify forward-looking statements.

Forward-looking statements reflect the Company’s current views with respect to future events and are subject to various known and unknown risks and uncertainties, which are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Metatek, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These factors may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the timing and execution of the Company’s contracts; the ability to mobilise and operate in international jurisdictions; regulatory and permitting processes; the continuation of client relationships; and general economic, geopolitical and industry conditions.

The risks and assumptions outlined above should not be construed as exhaustive. For additional information with respect to certain of these risks or uncertainties and other factors that could affect Metatek’s operations and financial results, reference should be made to the section entitled “Risks and Uncertainties” in the Company’s MD&A for the fiscal year ended December 31, 2025 and to Metatek’s continuous disclosure materials filed from time to time with the Canadian Securities Regulatory Authorities, including the Company’s most recent Annual Information Form under the section entitled “Risk Factors”, which are available under the Company’s profile on SEDAR+ at www.sedarplus.ca.

Forward-looking statements contained in this press release are made as of the date of this press release and the Company undertakes no obligation to update forward-looking statements except as required by applicable law. Readers are cautioned not to place undue reliance on forward-looking statements.

Source: https://www.newsfilecorp.com/release/305511/Metatek-Signs-FollowOn-Contract-and-Additional-Contract-in-Central-Asia