Since the Company’s February 11, 2026, corporate update, Deep Sea Minerals has continued to advance the strategic initiatives previously outlined to shareholders, achieving important milestones across multiple workstreams and demonstrating continued execution in support of its long-term offshore critical minerals strategy.
NOAA Application Submitted; Substantial Compliance Achieved
The Company has announced that it has successfully submitted an application through the National Oceanic and Atmospheric Administration (NOAA) regulatory pathway under the Deep Seabed Hard Mineral Resources Act of 1980 (DSHMRA).
Following the submission, the Company recently achieved a substantial compliance determination within the NOAA review process. The Company believes this milestone is significant as it establishes priority rights associated with the application area and represents an important procedural advancement within one of the most strategically relevant offshore critical minerals regulatory frameworks currently available.
Deep Sea Minerals continues to advance regulatory, technical, environmental, and procedural workstreams associated with the application while maintaining active engagement with stakeholders involved in the process.
The Company believes the NOAA-administered pathway remains increasingly important given the United States’ growing focus on critical mineral security, domestic supply chain resilience, and strategic resource development.
Cook Islands Application Preparation Advancing
The Company has also reported on the continued advancement of its Cook Islands strategy. Building on the jurisdictional and regulatory assessment work outlined in its February update, Deep Sea Minerals is actively preparing an application for submission under the Cook Islands seabed minerals framework and continues to evaluate concession opportunities within the Cook Islands Exclusive Economic Zone.
The Cook Islands remains one of the few jurisdictions globally with an established seabed minerals regulatory framework, extensive scientific datasets, and a structured approach to offshore resource management. The Company believes recent cooperation initiatives between the Cook Islands and the United States continue to reinforce the strategic importance of the jurisdiction within emerging critical minerals supply chains.
Evaluating Additional US Offshore Opportunities
In addition to the NOAA pathway, the Company continues to evaluate other potential offshore critical mineral opportunities within the United States Exclusive Economic Zone (EEZ).
This includes monitoring developments including the Bureau of Ocean Energy Management (BOEM), future concession opportunities, and other potential regulatory mechanisms that may support offshore critical mineral exploration and development within US waters.
Management believes the emergence of multiple federal pathways reflects increasing institutional momentum toward securing domestic sources of critical minerals and strengthening US-aligned supply chains.
Commercial and Technical Engagements Underway
As regulatory initiatives continue to advance, the Company has also expanded discussions with a variety of industry participants supporting offshore resource development.
Deep Sea Minerals is currently engaged in discussions with multiple service providers, technical consultants, marine operation specialists, engineering firms, geospatial and seabed data providers, and other potential strategic partners.
These discussions are intended to support future operational readiness, technical planning, environmental baseline work, data acquisition initiatives, and the development of scalable execution pathways as offshore critical mineral opportunities continues to mature.
Management believes establishing relationships with experienced industry participants at this stage is an important component of risk management and future project readiness.
NASDAQ Listing Application Submitted
Following the Company’s successful graduation to the OTCQB Venture Market earlier this year, Deep Sea Minerals is pleased to announce that it has submitted an application to list its common shares on the NASDAQ.
While approval remains subject to NASDAQ review and the satisfaction of all applicable requirements, management believes a successful NASDAQ listing would represent a significant milestone in the Company’s development.
A NASDAQ listing would substantially expand the Company’s visibility among US-based institutional investors, natural resource funds, strategic investors, family offices, and other long-term capital providers whose investment mandates may limit participation in securities listed solely on venture or over-the-counter markets.
The Company believes enhanced access to institutional capital is an important component of supporting future growth initiatives and creating long-term shareholder value.
Strategic Context: Continued US Critical Minerals Momentum
Since the Company’s February update, momentum behind US critical minerals policy initiatives has continued to accelerate.
The Company continues to monitor developments related Project Vault, the United States’ strategic critical minerals initiative designed to strengthen domestic supply chain resilience and secure access to critical resources essential for advanced manufacturing, energy transition technologies, and national security applications.
The Company believes ongoing US government actions, allied cooperation initiatives, supply-chain security measures, and increasing investment in domestic resource development continue to reinforce the long-term strategic importance of offshore critical mineral opportunities.
Executing a Defined Strategy
The Company believes the milestones achieved since February demonstrate meaningful execution against the strategic objectives previously communicated to shareholders.
Activities completed or advanced during this period include:
- Successful submission of a NOAA application under DSHMRA
- Achievement of substantial compliance status and associated priority rights
- Advancement of Cook Islands application preparation activities
- Evaluation of additional US EEZ opportunities, including BOEM-related pathways
- Expansion of technical, operational, and commercial engagement efforts
- Submission of NASDAQ listing application
Collectively, these initiatives reflect the Company’s continued focus on securing strategic positions within emerging offshore critical minerals frameworks while maintaining flexibility, disciplined capital allocation, and long-term execution capability.
“Our focus has always been execution. Since February, we have advanced our NOAA application to substantial compliance status, progressed our Cook Islands strategy, expanded industry engagement, and submitted our NASDAQ application,” said James Deckelman, Chief Executive Officer of Deep Sea Minerals. “These milestones represent tangible progress across our regulatory, operational, and capital markets objectives and reinforce our commitment to building a long-term platform in the offshore critical minerals sector.”
Other Corporate Updates
The Company has amended and extended its investor relations and marketing agreement with Capital Gain Media Inc. (CGM), originally announced on February 24, 2026. CGM will continue to provide investor awareness, digital marketing, content development, and related communication services in support of the Company’s capital markets initiatives. The extension will continue for up to 90 days, or until the allocated marketing budget has been exhausted. The Company has paid an upfront marketing budget of US$200,000, plus applicable taxes, for the extended term.