In discussing critical minerals and economic security, Secretary Bessent welcomed the World Bank’s recently approved Metals and Minerals Implementation Plan and outlined potential contributions through regulatory reform, infrastructure, local processing capacity, and project financing. Addressing deep-sea mining specifically, he stated: “This includes deep-sea mining, where the Bank can play a catalytic role by providing knowledge and guidance in a nascent sector.”
“Secretary Bessent’s comments bring further attention to the potential role of seabed minerals in diversifying critical mineral supply,” said James Deckelman, Chief Executive Officer of Deep Sea Minerals. “For an emerging sector, building technical knowledge, establishing clear regulatory pathways and developing a sound environmental evidence base are essential. These priorities are directly relevant to our approach as we pursue exploration opportunities through the US regulatory framework and evaluate opportunities in the Cook Islands.”
The Company views the statement as a further indication of US policy interest in seabed minerals. The Treasury statement does not announce funding, regulatory approval, or an endorsement of Deep Sea Minerals or any of its proposed activities.
Deep Sea Minerals is pursuing a strategy focused on the exploration and potential development of polymetallic nodule resources. Through its US subsidiary, American Deep Sea Minerals Corp., the Company has applied to the National Oceanic and Atmospheric Administration (NOAA) for an exploration license under the Deep Seabed Hard Mineral Resources Act covering an approximate area of 147,368 km2 in the Clarion-Clipperton Zone in international waters. The Company is also evaluating potential exploration opportunities in the Cook Islands.
The Company has entered into a third extension, effective October 19, 2026, of its investor relations and marketing agreement with Capital Gain Media Inc. (CGM), originally announced on February 24, 2026, and previously extended on June 4 and July 9, 2026.
CGM will continue to provide investor awareness, digital marketing, content development, and related communication services in support of the Company’s capital market initiatives. These services will include the preparation and distribution of written and video content, targeted digital advertising, social media marketing, investor-focused email campaigns, and website traffic optimization. Promotional activities will be conducted through social media advertising platforms, online investor publications and websites, electronic newsletters and email distribution lists, dedicated campaign landing pages, and CGM’s proprietary and third-party digital advertising networks.
The third extension will continue until the earlier of: (i) January 14, 2027; or (ii) the date on which the allocated marketing budget is exhausted. The Company will pay CGM an upfront marketing budget of $100,000, plus applicable taxes, for the third extended term. As with its prior engagements with CGM, the Company will not issue any securities to CGM as compensation for its services.
CGM has a business address located at 1111 West Hastings Street, 15th Floor, Vancouver, V6E 2J3, and its principal, Graham Colmer, can be contacted by email at admin@capitalgainmedia.com and by telephone at 604-379-8363. CGM and its principals are arm’s length from the Company.
Further to the Company’s news release of March 10, 2026 (the March Corporate Update), the Company has spent approximately $1.22 million on investor relations activities since its Canadian Securities Exchange Form 2A – Listing Statement dated January 19, 2026, was filed. This amount exceeds the anticipated expenditures for investor relations activities previously disclosed in the March Corporate Update. As an early mover in a developing industry, the Company has had to incur more investor relations expenditures than previously anticipated as a result of having to inform the market about the subsea mineral exploration and development industry generally, rather than merely informing the market about the Company’s own progress within such industry.