IDEX Metals Announces Option Agreement with WestGold Metals

(TheNewswire)

Vancouver, B.C. – May 14, 2026 -TheNewswire – IDEX Metals Corp. ("IDEX" or the"Company") (TSXV: IDEX; OTCQB: IDXMF)is pleased to announce that it has entered intoa mineral property option agreement, dated May 13, 2026 (the“OptionAgreement”) with WestGold Metals Corp.(“WestGold”), traded on the Canadian Securities Exchange (the“CSE”) under the symbol “WGM.CN”, and Silver RockResources, Inc., a wholly-owned subsidiary of the Company (the“Optionor”), pursuant to which the Company has granted to WestGoldan exclusive option (the “Option”) to acquire a 90% interest in threeof the Company’s exploration properties located in the State ofIdaho, USA: the Amie Project, the Silver Rock Project, and the DemmingProject (together, the “Properties”). The proposed transaction isexpected to provide the Company with non-dilutive exposure toexploration success at the Properties through a combination of a cashpayment, equity consideration, exploration expenditures, and aretained royalty interest. WestGold is at arm’s length to theCompany and the Optionor, and the Option does not constitute a relatedparty transaction.

Clayton Fisher, CEO of IDEX, commented, “Thistransaction is exactly the kind of value-creation opportunity we wantto execute as we build IDEX: monetize non-core assets, retainmeaningful upside, and concentrate our capital and technical effort onthe Freeze Project. By optioning our Owyhee project portfolio toWestGold, we are putting Amie, Silver Rock and Demming into the handsof a dedicated junior explorer with committed exploration capital,while IDEX shareholders retain multiple ways to participate in futureexploration success. The structure provides exposure through a 9.9%equity position in WestGold, committed exploration expenditures acrossthe projects, a retained 10% carried interest in each project, and aretained royalty interest. In our view, this creates powerfuloptionality — if WestGold is successful in unlocking value acrossthese projects, IDEX shareholders have direct leverage to that upside;at the same time, our team remains firmly focused on advancing Freeze,our flagship copper project and what we believe is the Company’smost compelling value-creation opportunity.”

Pursuant to the Option Agreement, WestGold may acquirea 90% undivided interest in the Properties (free and clear of allencumbrances, other than the Royalty (as defined below), and certainpermitted encumbrances). In order to exercise the Option, WestGold isrequired to make the following payments:

(a) Share Consideration: WestGold is required to issue 5,737,000 common shares in thecapital of WestGold (the “WestGold Shares”) to the Optionor on orbefore the date that is two business days following the satisfactionof all conditions precedent in the Option Agreement (the“Effective Date”); and

(b) Cash Payment: WestGold is required to pay the Optionor $100,000 within 30business days of the Effective Date.

In addition to the above, WestGold must incur a minimumof $5,000,000 in aggregate exploration expenditures on the Propertiesover a three-year period, as follows: (i) $1,000,000 by the firstanniversary of the Effective Date; (ii) a cumulative $3,000,000 by thesecond anniversary; and (iii) a cumulative $5,000,000 by the thirdanniversary.

The WestGold Shares will be issued at a deemed priceper WestGold Share equal to: (i) the price per common share offered inan equity financing to be completed by WestGold before the exercise ofthe Option (the “EquityFinancing”), or (ii) if WestGold does notcomplete the Equity Financing, the volume weighted average tradingprice of WestGold’s common shares on the CSE for the 20 trading dayspreceding the Effective Date.

Upon full exercise of the Option, the parties will bedeemed to have formed a joint venture, with WestGold holding a 90%participating interest and the Optionor retaining a 10% carriedinterest (the “Joint Venture”).WestGold will serve as operator of the Joint Venture and will beresponsible for all costs of the Joint Venture, including exploration,development and mining operations, until the commencement ofcommercial production. Following the commencement of commercialproduction, the Optionor’s carried interest may be diluted bysubsequent financings.

Additionally, upon full exercise of the Option, a 1.5%net smelter returns royalty (the “Royalty”) will begranted to the Optionor. WestGold has the right to reduce the Royaltyto 1.0% at any time by payment of $2,000,000.

Closing of the Option is subject to the satisfaction ofcustomary closing conditions, including all applicable regulatory andstock exchange approvals. No finder’s fees were paid in associationwith this transaction.

About IDEX Metals Corp.

IDEX Metals Corp. is a mineral exploration companyfocused on advancing a portfolio of base and precious metal projectsin Idaho, USA. IDEX is primarily focused on the exploration anddevelopment of the Freeze Copper-Gold porphyry prospect located in thenewly discovered Idaho Copper District, Washington County, Idaho. Witha strategic land position in a top-tier mining jurisdiction andsurrounded by major industry players, IDEX is committed to redefiningdistrict-scale exploration in Idaho.

For more information, please visit https://idexmetals.com/.

ON BEHALF OF THE BOARD OF DIRECTORS

Clayton Fisher, CEO & Director

For further information regardingIDEX contact:

Investor Relations
info@idexmetals.com
1 (604) 260-0356

Cautionary Note RegardingForward-Looking Statements

No securities regulatory authorityor stock exchange has reviewed nor accepts responsibility for theadequacy or accuracy of the content of this news release. This newsrelease contains forward-looking statements relating to the closing ofthe Option, and other statements that are not historical facts.Forward-looking statements are often identified by terms such as“will”, “may”, “should”, “anticipate”, “expects”and similar expressions. All statements other than statements ofhistorical fact, included in this release are forward-lookingstatements that involve risks and uncertainties. There can be noassurance that such statements will prove to be accurate and actualresults and future events could differ materially from thoseanticipated in such statements. Important factors that could causeactual results to differ materially from the Company’s expectationsinclude the failure to satisfy the conditions of the relevantsecurities exchange(s) and other risks detailed from time to time inthe filings made by the Company with securities regulators. The readeris cautioned that assumptions used in the preparation of anyforward-looking information may prove to be incorrect. Events orcircumstances may cause actual results to differ materially from thosepredicted, as a result of numerous known and unknown risks,uncertainties, and other factors, many of which are beyond the controlof the Company. The reader is cautioned not to place undue reliance onany forward-looking information. Such information, although consideredreasonable by management atthe time of preparation, may prove to be incorrect and actual resultsmay differ materially from those anticipated. Forward-lookingstatements contained in this news release are expressly qualified bythis cautionary statement. The forward-looking statements contained inthis news release are made as of the date of this news release and theCompany will update or revise publicly any of the includedforward-looking statements as expressly required by applicablelaw.

Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.

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