Voyageur Pharmaceuticals Strengthens Scientific Team by Adding Dr. Brian Mueller as Director of Chemistry and Secures Exclusive Ownership of Iodine Extraction Technology

(TheNewswire)

Calgary, Alberta, Canada – TheNewswire - January 12, 2026 -Voyageur Pharmaceuticals Ltd. (TSXV:VM) (OTC Pink:VYYRF)("Voyageur" or the "Company"), a Canadiandeveloper of pharmaceutical-grade barium and iodine for medicalimaging contrast media, is excited to announce a strategic advancementin its vertical integration strategy. The Company has secured 100%ownership to an innovative iodine extraction technology developed byDr. Brian Mueller, PhD, who has been appointed as the Company’sDirector of Chemistry, effective immediately.

On January 11, 2026, Voyageur acquired (the"Acquisition") the intellectual property rights to Dr.Mueller's proprietary iodine-extraction technology, known as the"Mueller Process", granting the Company control over theintellectual property supporting its iodine strategy. Voyageur expectsthis will enable it to advance its iodine extraction projects withenhanced cost efficiency, operational flexibility, and long-termsupply-chain security.  As consideration for the Acquisition, theCompany made a lump sum initial cash payment and will pay Dr. Muellera running royalty on net sales of iodine products. The acquisition isan arm's length transaction.

Brine water from the Anadarko and West Texas Basinshave been tested using the Mueller Process. Highlights from initialbench scale testing conducted by Dr. Mueller are asfollows*:

• 90% yield from incoming brine to technical grade iodine(85% pure) 

• Conversion to 99.5% pure iodine*. 

• Environmentally Friendly:  Closed process, no volatileorganic compounds or hazardous emissions. 

• Output brine is a “clean brine” useful forindustrial use, hydraulic fracturing, desalination or further mineralextraction.  

*LaboratoryIodometric (redox titration) using standard thiosulfate titrant testwas used. All testing was completed by Dr. Brian Mueller, with thirdparty evaluation of the process expected to occur in 2026. Theseresults have not been independently verified.

Brent Willis, CEO & President of Voyageur,emphasized the strategic importance of securing exclusive rights tothis proprietary technology, calling it a pivotal development for theCompany. "Withprovisional patent applications for the intellectual property acquiredby Voyageur filed in 2025, we are on track to submit full utilitypatent applications in 2026. Our immediate focus is on iodineextraction in the Anadarko Basin, where we believe this technologywill allow us to produce iodine flake efficiently”. Mr. Willisexplained “More importantly, it may enable us to bypass the flakeprocess entirely, directly creating iodine drugs through ourproprietary Streamlined API process. This potential capability notonly enhances our potential ability to produce high-quality,cost-effective iodine contrast agent, but is expected to allowVoyageur to achieve one of the lowest cost structures in the multibillion-dollar iodine contrast drug industry. In addition, the newtechnology opens the door to potential elemental mineral extractionfrom our ULI claim block in the Paradox Basin, Utah. The elementalminerals of interest are lithium, iodine, bromine, boron, magnesium,potassium and sodium."

Voyageur’s Streamlined API process, created byBradley Willis, P.Eng, Voyageur's COO, aims to set a newbenchmark for the industry by simplifying the production of iodinecontrast drugs by extracting directly from brinewater and creating a closed loop manufacturing process. This has thepotential to position Voyageur, through a wholly owned subsidiary, tobecome the first U.S. company to produce iodine drugs domestically,mitigating supply chain risks and setting a new standard for costefficiency in the industry.

The global contrast media marketsize was estimated at USD 6.77 billion in 2024 and is projected to reach USD13.86 billion by 2033, growing at a CAGR of 8.3% from 2025 to 2033.The NorthAmerican market for iodinecontrast media is estimated at 39.07% of the global market,$2.65billion per year of theglobal market share due to high imaging volumes.1  https://www.grandviewresearch.com/industry-analysis/contrast-media-contrast-agents-market

About Dr. Brian Mueller

Brian Mueller, Ph.D., is a scientist, inventor, andexperienced professional with over 40 patents spanning watertreatment, mineral extraction, and carbon capture technologies. With acareer rooted in inorganic chemistry and advanced brine modeling, Dr.Mueller has consistently bridged fundamental science with industrialapplication. His expertise in produced water treatment, corrosionmodeling, and flow assurance chemistry has enabled him to solvecomplex challenges in oil & gas, geothermal, and desalinationindustries.

Drawing on decades of experience in thermodynamic brinechemistry and critical mineral recovery, Dr. Mueller recognized theuntapped potential of iodine extraction from high-salinity streams.His ability to integrate electrochemical oxidation processes, advancedfiltration, and scalable extraction methods allowed him to design aspecialized, efficient, and economically viable iodine recoverytechnology. This innovation reflects his broader vision: transformingwaste streams into valuable resources while advancing sustainableindustrial practices.

Dr. Mueller possesses a valuable combination of deeptechnical knowledge, entrepreneurial leadership, and experience indeveloping profitable extraction technologies. The Mueller Processreflects his approach of turning scientific insight into practicalsolutions that address industrial challenges and promote environmentalstewardship. His expertise is expected tosupport the integration of the Mueller Process with Voyageur'sStreamline API process, which the Company believes will enhance itsability to produce high-quality, low-cost iodine drugs.

Dr. Mueller's appointment as Director of Chemistryat Voyageur reflects the Company's commitment to innovation andexcellence. His track record in developing and commercializingadvanced technologies is expected to support Voyageur's missionto become a leader in the radiology contrast media drug market. Byleveraging Dr. Mueller's skills and technology, Voyageur aims toachieve its vision of vertical integration and cost leadership in theindustry.

Update on collaboration with Altillion Inc.

Voyageur also announces that the Company has delivereda notice to Altillion Inc. ("Altillion") that it will beterminating the collaboration between the Company and Altillion,previously announced on June 23, 2025. TheCompany appreciates the contributions made by Altillion during theterm of the collaboration with Voyageur.

About Voyageur PharmaceuticalsLtd.

Voyageur, a Canadian public company trading under thesymbol VM on the on the TSX Venture Exchange, is in development ofbarium and iodine Active Pharmaceutical Ingredients (API) that offerhigh-performance and 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 and iodine API’s as well as supplying raw materialsto major pharmaceutical manufacturers.

Voyageur's business plan is set to generate salesby 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.

At the core of its operations, Voyageur has 100%interest in the Frances Creek barium sulphate (barite) project.Currently, the world’s pharmaceutical barium sulphate is almostentirely synthetically produced resulting in a less effective imagingquality product. Voyageur’s Frances Creek resource boasts a rare andexceptional grade mineral suitable for the pharmaceutical marketplacethat Voyageur believes will replace the current synthetic productswith higher quality imaging products.

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 believes it can enhancequality and cost efficiency. With its approach, it embodies the mottoof "From the Earth to theBottle," highlighting Voyageur'scommitment to responsible sourcing and manufacturing practices.

For Further Information:

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 news release.

Cautionary Statement Regarding “Forward-Looking”Information

This news release may containcertain forward-looking information and statements, including withoutlimitation, statements pertaining to: the Company's expectationthat acquiring intellectual property rights to the Mueller Processwill enable it to advance its iodine extraction projects with enhancedcost efficiency, operational flexibility, and long-term supply-chainsecurity; expected third-party testing to be conducted on the MeullerProcess in 2026;  the Company's expectations with regards toachieving one of the lowest cost structures in the iodine contrastdrug industry; the Company's ability to bypass the flake process; potentialmulti elemental mineral extraction from the Company's ULI claimblock in the Paradox Basin, Utah; the Company's aim to have theStreamlined API process set a new benchmark for the industry; thepotential for the Company's subsidiary to be positioned to becomethe first U.S. company to produce iodine drugs domestically; theexpectation that Dr. Mueller's expertise will support theintegration of the Mueller Process with Voyageur's Streamline APIprocess, and the Company's belief that this will enhance itsability to producehigh-quality, low-cost iodine drugs; the Company's expectation that Dr.Mueller will support its mission to become a leader in the radiologycontrast media drug market; the Company's aim to achieve its vision of vertical integrationand cost leadership in the industry; the Company's expectationregarding the benefits of its vertically integrated model; theCompany's aim to become a key player in the barium and iodinecontrast markets; the Company's plans to transition into ahigh-margin domestic manufacturer of radiology drugs; the Company's belief that the FrancesCreek Project's mineral will replace the current syntheticproducts in the pharmaceutical marketplace with higher quality imagingproducts; and the Company's belief that it can ensure quality andcost efficiency by controlling all primary input costs. All statements included herein, other thanstatements of historical fact, are forward-looking information andsuch information involves various risks and uncertainties. There canbe no assurance that such information will prove to be accurate, andactual results and future events "plan","potential", "project", "assume","contemplate", "believe", "shall","scheduled", and similar terms. Forward-looking statementsare not guarantees of future performance, actions, or developments andare based on expectations, assumptions, and other factors thatmanagement currently believes are relevant, reasonable, andappropriate in the circumstances. Although management believes thatthe forward-looking statements herein are reasonable, actual resultscould be substantially different due to the risks and uncertaintiesassociated with and inherent to Voyageur's business. Additionalmaterial risks and uncertainties applicable to the forward-lookingstatements herein include, without limitation, the impact of generaleconomic conditions, and unforeseen events and developments. This listis not exhaustive of the factors that may affect the Company'sforward-looking statements. Many of these factors are beyond thecontrol of Voyageur. All forward-looking statements included in thispress release are expressly qualified in their entirety by thesecautionary statements. The forward-looking statements contained inthis press release are made as at the date hereof, and Voyageurundertakes no obligation to update publicly or to revise any of theincluded forward-looking statements, whether as a result of newinformation, future events, or otherwise, except as may be required byapplicable securities laws. Risks and uncertainties about theCompany's business are more fully discussed under the heading"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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