VM:CC - Voyageur Pharmaceuticals Advances Frances Creek Project, Paving the Way for a Secure, Vertically Integrated Barium Contrast Product Line

(TheNewswire)

Calgary, Alberta, Canada – March 4, 2025 – TheNewswire - VoyageurPharmaceuticals Ltd. (TSX.V:VM) (OTC Pink:VYYRF) (“ Voyageur ” or the“ Company ”) is pleased to announce the commencement of the FrancesCreek barium contrast media project, powered by a $600,000 grant fromAlberta Innovates. With $350,000 in funding already released, Voyageurhas commenced processing the high-grade Frances Creek ore samples, toproduce natural, high-purity pharmaceutical grade barium sulfate,which will serve as the primary Active Pharmaceutical Ingredient (API) in Voyageur’s bariumcontrast media product development program.

The Alberta Innovates grant funding accelerates atransformative clinical performance evaluation, benchmarking thenatural Frances Creek barium contrast media against existing syntheticbarium contrast media and iodinated contrast media solutions. This research aims to highlight the imagingquality using Frances Creek barium sulfate, thus reinforcing ourmarket positioning and potentially driving future sales growth. Theresearch focus is to test Voyageurs contrast media products usingFrances Creek barium, in comparative studies in human test subjects,evaluating images from computed tomography (CT) and Fluoroscopyexaminations.

Brent Willis, President, CEO, and Director of Voyageur,stated, “We are excited to start processing Frances Creek samples todevelop our active pharmaceutical ingredient. This marks a keymilestone in demonstrating the efficacy and economic viability of ourFrances Creek barium contrast project. By producing Health Canadalicensed barium contrast media with natural barium, Voyageur aims tooffer cost-effective and high-quality product lines, to allow for asecure supply chain for the radiology market that is currentlyexperiencing supply chain constraints.”

Phase 1 Clinical EvaluationUpdate

Voyageur announced on January 13, 2025 ( Testing ) that the companycommenced testing of its current barium contrast media formulations inhuman subjects, to ensure efficacy and safety in clinical settings. Following the reformulation of one bariumcontrast media product, to meet performance expectations, a productionbatch has been manufactured and is undergoing laboratory analysis. Itis expected to be released within 2 weeks for final performancevalidation in clinics. With positive outcomes, Phase 1 testing is setfor completion by the end of April . Four of thefive barium contrast media products have already shown promisinginitial results. Once testing of the re-formulated fifth product iscomplete, the data will undergo thorough evaluation by our consultingteams and Scientific AdvisoryBoard . Upon approval, the full productline will be cleared for market release in Canada.

About Voyageur PharmaceuticalsLtd.

Voyageur, a Canadian public company trading under thesymbol VM on the TSXV, is in development of barium and iodine ActivePharmaceutical Ingredients (API) and intends to offerhigh-performance, cost-effective imaging contrast agents. With astrategic focus on vertically integrating the barium and iodinecontrast markets, Voyageur aims to become a key player by producingits own barium, iodine, and new endohedral fullerene drugs (C60).Voyageur has developed five barium contrast products that have Health Canada licenses.

Voyageur's business plan is set to generate cash flowby partnering with established third-party GMP pharmaceuticalmanufacturers in Canada thereby ensuring the validation of itsproducts by regulatory agencies worldwide. As Voyageur solidifies itspresence in the market, it plans to transition into a high-margindomestic manufacturer of radiology drugs, further expanding itsrevenue streams.

At the core of its operations, Voyageur owns a 100% interest in the Frances Creek barium sulphate (barite) project.Currently, the world’s pharmaceutical barium sulphate is almostentirely synthetically produced which management believes results in aless effective imaging quality product. Voyageur’s Frances Creekresource boasts a rare and exceptional grade mineral suitable for thepharmaceutical marketplace that Voyageur believes will replace thecurrent synthetic products with higher quality lower cost imagingproducts.

Voyageur's ambitious vision is to become the firstvertically integrated company in the radiology contrast media drugmarket. By controlling all primary input costs, from the sourcing ofraw materials to final production, Voyageur intends to ensure qualityand cost efficiency. With its approach, it embodies the motto of" From the Earth to theBottle ," highlighting Voyageur's commitmentto responsible sourcing and manufacturing practices.

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Neither the TSX Venture Exchange nor its Regulation ServicesProvider (as that term is defined in the policies of the TSX VentureExchange) accepts responsibility for the adequacy or accuracy of thisnews release.

Cautionary Statement Regarding “Forward-Looking”Information

This news release may containcertain forward-looking statements and forward-looking information(collectively, "forward-looking statements"), includingwithout limitation, the use of the funds granted to the Company byAlberta Innovates; the processing, testing, refining, market launch,sales and revenue from Voyageur's five barium contrast products; theresults of the phase 1 clinical evaluation; and the Company’sbusiness plan. Forward-looking statements normally contain words like"will", "intend", "anticipate","could", "should", "may","might", "expect", "estimate","forecast", "plan", "potential","project", "assume", "contemplate","believe", "shall", "scheduled", andsimilar terms. Forward-looking statements are not guarantees of futureperformance, actions, or developments and are based on expectations,assumptions, and other factors that management currently believes arerelevant, reasonable, and appropriate in the circumstances. Althoughmanagement believes that the forward-looking statements herein arereasonable, actual results could be substantially different due to therisks and uncertainties associated with and inherent to Voyageur'sbusiness. Additional material risks and uncertainties applicable tothe forward-looking statements herein include, without limitation, theimpact of general economic conditions, and unforeseen events anddevelopments. This list is not exhaustive of the factors that mayaffect the Company's forward-looking statements. Many of these factorsare beyond the control of Voyageur. All forward-looking statementsincluded in this news release are expressly qualified in theirentirety by these cautionary statements. The forward-lookingstatements contained in this news release are made as at the datehereof, and Voyageur undertakes no obligation to update publicly or torevise any of the included forward-looking statements, whether as aresult of new information, future events, or otherwise, except as maybe required by applicable securities laws. Risks and uncertaintiesabout the Company's business are more fully discussed under theheading "Risk Factors" in its most recent filings. They areotherwise disclosed in its filings with securities regulatoryauthorities available on SEDAR+ at www.sedarplus.ca.

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