High Tide Resources Commences Drilling at the Labrador West Iron Project with Two Rigs

TORONTO, ON / ACCESS Newswire / June 8, 2026 / High Tide Resources Corp. ("High Tide" or the "Company") (CSE:HTRC) is pleased to announce that drilling has commenced at the Labrador West Iron Project near Labrador City, NL. Mobilization is complete, and two drills are now turning as part of the Company's 2026 field program.

Steve Roebuck, President & CEO of High Tide, commented: "Launching this year's drilling program marks another important milestone for the Labrador West Iron Project. With two drills active on site, we are advancing our technical understanding at an accelerated pace. Drill core from the first holes is already demonstrating the strength of the system and the viability of resource growth, and we look forward to integrating new geological and analytical data as the program progresses. Each step we take continues to build value and move the Project toward its long‑term development potential."

Drilling Program Now Underway

The initial phase of the 2026 program is focused on resource expansion toward the north and northeast, where previous work has outlined strong potential for continued iron‑ore mineralization. This work is designed to support future resource modelling and refine geological continuity across the target corridor.

Progress to date includes:

• Completion of the first two drill holes.

  • See Map 1 - planned holes R-02 (26LB0067) and R-05 (26LB0068).

• Visual inspection of drill core confirming broad intervals of magnetite and hematite iron oxide mineralisation, consistent with the Project's established mineralized trends.

  • Both holes were extended beyond their planned depth.

• Samples from the first hole have been logged, split, and shipped for assay, with results expected to guide ongoing targeting and program adjustments.

Core logging and sampling are ongoing, with additional shipments to the laboratory scheduled as drilling advances.

Complementary Technical Work Advancing

In parallel with drilling, High Tide continues to progress several key workstreams that support the Project's long‑term development strategy:

• Metallurgical optimization to refine concentrate quality and processing parameters targeting the production of Direct Reduction ("DR") quality concentrate and a DR quality iron ore pellet.

• Environmental data collection to support future regulatory submissions.

• Engineering and economic analysis, which will integrate new drilling results as they become available.

These activities collectively strengthen the technical foundation of the Labrador West Iron Project and support the Company's commitment to responsible, collaborative, and value‑focused development.

The Company wishes to thank the Department of Mines and Energy, and Department of Forestry, Agriculture, and Lands, Government of Newfoundland and Labrador, the Indigenous groups and community stakeholders involved for their timely approval of our exploration permit, which will enable us to advance the Labrador West Iron Ore project responsibly and collaboratively.

About High Tide

High Tide is focused on and committed to the development of mineral projects critical to infrastructure development using industry best practices combined with a strong social license from local communities. High Tide owns a 100% interest in the Labrador West Iron Project which hosts a NI 43-101 Inferred iron resource of 655 Mt @ 28.84% Fe and is located adjacent to IOCC's Carol Lake Mine in Labrador City, NL. This resource is exposed at surface and was pit constrained for an open-pit mining scenario. The Technical Report was filed on SEDAR on April 6, 2023 and was authored by Ryan Kressall M.Sc., P.Geo, Matthew Herrington, M.Sc., P.Geo, Catharine Pelletier, P.Eng. and Jeffrey Cassoff P.Eng.

The Company also owns a 100% interest in the Lac Pegma copper-nickel-cobalt deposit located 50 kilometres southeast of Fermont, Quebec.

Further details on the Company, including a NI 43-101 technical report on the Labrador West Iron property can be found on the Company's website at www.hightideresources.com.

Qualified Person

The technical information contained in this news release has been approved by Steve Roebuck,

P.Geo., Director, President and CEO of High Tide, who is a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."

For further information, please contact:

Steve Roebuck
Director, President & CEO
Email: sroebuck@hightideresources.com

Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward looking information

This news release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, developing the Labrador West Iron Project into the next stage of development, the Company's objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: commodity prices supply chain disruptions, restrictions on labour and workplace attendance and local and international travel, failure to receive requisite approvals in respect of the foregoing, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

SOURCE: High Tide Resources Corp.