Electric Metals (USA) Limited Advances Discussions with Prospective Buyers for Nevada Silver Assets Following Termination of Previous Agreement

Wilmington, Delaware, October 20, 2026: Electric Metals (USA) Limited (TSXV: EML; OTCQB: EMUS) (the “Company” or “Electric Metals”) announces that its previously disclosed definitive purchase and sale agreement dated effective January 30, 2026, as amended May 7, 2026 (the “Agreement”), with Ameerex Corporation (“Ameerex”) for the sale of its non-core Nevada silver assets has automatically terminated in accordance with its terms following Ameerex’s failure to make the second purchase payment of US$1,100,000.

Electric Metals has retained US$350,000 in previously received payments and fees in accordance with the terms of the Agreement.

The transaction involved the sale of all of the issued and outstanding shares of the Company’s wholly owned subsidiary North American Silver Corporation and, indirectly, Centennial Mining, which together hold the Corcoran silver-gold and Belmont silver properties in Nye County, Nevada.