Cullinan Files NI 43-101 Technical Report on Burnt Pond NL VMS Project

(TheNewswire)

Vancouver, B.C. – TheNewswire - June 2, 2026? Cullinan Metals Corp. (CSE: CMT) (OTCQB:CMTNF) (FSE: 7KO) (the “Company” or “Cullinan”) hasfiled an independent National Instrument 43-101 – Standards of Disclosure for MineralProjects (“NI 43-101”) technical report onthe Burnt Pond volcanic massive sulphide (VMS) project (the “BurntPond VMS Project”), entitled “NI 43-101 Technical Report on theBurnt Pond Volcanic Massive Sulphide (VMS) Project in Newfoundland andLabrador” with an effective date of May 29, 2026, on SEDAR+ (the“Technical Report”).

The Burnt Pond VMS Project is situated within the TallyPond volcanic belt of central Newfoundland and Labrador, awell?establishedmetallogenic district that hosts multiple VMS deposits, including theDuck Pond and Boundary deposits located along the same regionaltrend1. The Burnt Pond VMSProject encompasses favourable felsic volcanic stratigraphy, pervasivehydrothermal alteration, and several sulphide?bearing horizons, all of which areindicative of a VMS mineralizing system.

The Burnt Pond VMS Project hosts an approximately500-meter-long by 150-meter-deep VMS style base-metal-rich stringerzone with local narrow massive sulphides. Historical drillingintersected a tectonized massive sulphide zone approximately 400meters along strike to the southwest of the original prospect. Thisintersection is at the same stratigraphic level as the originalprospect, but represents a separate lens of high-grade massivesulphides, richer in grade than the original showing, which is openalong strike and down dip.

Mineralization at the Burnt Pond VMS Project ischaracteristic of a classic arc?related VMS system: syngenetic, strata?bound, and closely associated withintensely altered felsic volcanic rocks, graphitic sediments, andcherty tuff horizons. Two stacked mineralized horizons—the lower “rhyolitic” stringer zone and the upper“graphite” massive sulphidehorizon—mirror thearchitecture of productive VMS camps worldwide1. Historical drill intersections include 54.9 meters ofsulphide?bearingalteration and grades such as 1.3% copper, 2.0% lead, 7.1% zinc, 22.7g/t silver, and 0.14 g/t gold over 1.5 meters, as further delineatedin the Technical Report

Derrick Strickland is an independent qualified personas defined by NI 43-101 and has reviewed, verified and approved thescientific and technical information contained in this news release.No limitations or failures to verify were identified. Mr. Stricklan isindependent of the Company.

A copy of the Technical Report is available on theCompany’s website and under the Company’s profile onSEDAR+.

About Cullinan Metals

Cullinan Metals Corp. is a Canadian exploration companyfocused on the evaluation and development of energy and criticalmetals opportunities. The Company holds an option to acquire a 100%interest in the Oculus Rare Earth Project in Central Labrador and theBurnt Pond VMS Project in Central Newfoundland.

ON BEHALF OF THE BOARD OF DIRECTORS,

CULLINAN METALS CORP.

Christopher Huggins

Chief Executive Officer
+1 (604) 968-4844

www.cullinanmetalscorp.com

Neither the Canadian SecuritiesExchange nor its Regulation Services Provider (as that term is definedin the policies of the Canadian Securities Exchange) acceptsresponsibility for the adequacy or accuracy of this release.

FORWARD LOOKINGSTATEMENTS

Statements in this news releasewhich are not purely historical are forward-looking statements,including any statements regarding beliefs, plans, expectations, orintentions regarding the future. Forward looking statements in thisnews release include, but are not limited to, general statementsregarding the Company’s planned or future exploration efforts at theBurnt Pond VMS Project. It is important to note that the Company’sactual business outcomes and exploration results could differmaterially from those in such forward-looking statements. Risks anduncertainties include that economic, competitive, governmental,geopolitical, environmental and technological factors may affect theCompany’s operations, markets, products and prices; our specificplans and timing drilling, field work and other plans may change; thatthe Company may not have access to or be able to develop any mineralsbecause of cost factors, type of terrain, or availability of equipmentand technology; and we may also not raise sufficient funds to carryout or complete our plans. Labor shortages, inflationary pressures,rising interest rates, the global financial climate and internationalconflicts are some additional factors that are affecting currenteconomic conditions and increasing economic uncertainty, which mayimpact the Company’s operating performance, financial position, andprospects. Collectively, the potential impacts of this economicenvironment pose risks that are currently indescribable andimmeasurable. No assurance can be given that any of the eventsanticipated by the forward-looking statements will occur or, if theydo occur, what benefits the Company will obtain from them. Readers arecautioned that forward-looking statements are not guarantees of futureperformance or events and, accordingly, are cautioned not to put unduereliance on forward-looking statements due to the inherent uncertaintyof such statements. Additional risk factors are discussed in thesection entitled “Risk Factors” in the Company’s ManagementDiscussion and Analysis for its recently completed fiscal period,which is available under the Company’s SEDAR+ profile atwww.sedarplus.ca. Except as required by law, the Company will notupdate or revise these forward-looking statements after the date ofthis document or to revise them to reflect the occurrence of futureunanticipated events.

1 Mineralization onadjacent projects may not be indicative of mineralization on the BurntPond VMS Project.

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