Portugal Colonial - Juno's Vespa Critical Minerals Discovery Expands to Include Heavy Rare Earth Magnet Metals

TORONTO, ON / ACCESS Newswire / May 19, 2026 / Juno Corp. ("Juno" or the "Company") today announced the discovery of heavy rare earth elements - including the magnet metals essential to defence, aerospace, electric vehicles and clean energy - within its Vespa critical minerals system in Ontario's Ring of Fire. The discovery sits within the same geological system as Juno's previously announced high-grade iron, titanium, vanadium, scandium and gallium intercepts at Vespa, broadening the critical minerals discoveries.

"Rare earth magnet metals are the materials that build modern defence systems, fighter jets, electric vehicles and clean energy infrastructure. Global supply is dominated by a single country that has shown its willingness to use export controls as a tool of geopolitical leverage - making secure, allied sources of these metals a national priority for Canada, the United States and our partners," said Robert Cudney, Founder, Director and CEO of Juno Corp. "We believe that the Ring of Fire can be the cornerstone of the future of mining in Canada. This discovery places Juno's potential at the centre of that strategic opportunity."

"This is a major broadening of what Vespa is," said Jeremy Niemi, Chief Strategy Officer of Juno Corp. "We have identified the rare earth magnet metals the world is competing for, hosted in garnets sitting directly alongside our high-grade iron, titanium and vanadium discoveries. We believe that there is the strategic opportunity to recover these rare earths as a by-product of a future Vespa operation - there could be multiple critical metals from a single deposit."

Summary of Results:

• Heavy rare earth elements discovered within Juno's Vespa critical minerals system in the Ring of Fire

• Discovery includes the four key magnet metals - neodymium, praseodymium, dysprosium and terbium, as well as yttrium and other critical rare earths - essential to defence systems, aerospace, electric vehicles, wind turbines and robotics

• Initial rush assays returned a continuous 87-metre interval within a 200+ metre mineralized corridor, with 27% of total rare earths comprised of high-value heavy rare earths - an exceptional ratio

• Discovery is hosted within Juno's Vespa mineral complex, with potential to recover rare earths as a by-product of Vespa's iron, titanium, vanadium, scandium and gallium production - confirming Vespa as a true polymetallic critical minerals system

• Additional sampling, assays and metallurgical work are underway as part of Juno's fully funded 2026 Vespa drill program

Drill core from Vespa showing characteristic rare earth-bearing garnets.

To date, these results are the only results received at the Vespa project for 2026 drilling. VES-26-025 is the first hole drilled on Vespa in the 2026 program.

Table 1: Hole location and orientations for VES-26-025

Table 2: REE Assay intervals from rush samples in VES-26-025

"TREO (Total Rare Earth Oxides) is calculated by multiplying the elemental concentration of each REE by its specific stoichiometric conversion factor. The conversion factors used are: La2O3 (1.1728), CeO2 (1.2284), Pr6O11 (1.2082), Nd2O3 (1.1664), Sm2O3 (1.1596), Eu2O3 (1.1579), Gd2O3 (1.1526), Tb4O7 (1.1762), Dy2O3 (1.1477), Ho2O3 (1.1455), Er2O3 (1.1435), Tm2O3 (1.1421), Yb2O3 (1.1387), Lu2O3 (1.1371), and Y2O3 (1.2699)."

Technical Notes

Assays referenced in this news release are initial rush assays from 76 samples and remain subject to confirmation by completion of the full assay program. Drill core was logged and sampled at Juno's Oval Lake Camp in the Ring of Fire. Blanks and Certified Reference Materials were inserted into the sample stream at appropriate intervals according to CIM Best Practices. Sampled core was split and sent to ALS Canada Ltd. Preparatory Lab in Thunder Bay. Core samples were crushed, pulverized, and split before being sent for assay determination. Samples were sent to ALS Vancouver for Multi-element Mass Spectrometer analysis (Code ME-MS81). ALS is independent of Juno. True widths of the reported intercepts are unknown at this time. For further details on previously reported Vespa drilling, please refer to the Company's press releases dated January 29, 2025 and March 5, 2026.

About Juno Corp.

Juno Corp. is a private, Ontario-based mineral exploration company and the largest mineral claim holder in the Ring of Fire. With a land position covering approximately 5,796 km², Juno is focused on discovering and advancing gold and critical mineral assets through responsible exploration, technical excellence, and strategic partnerships.

For further information, please contact:

Robert Cudney
Chief Executive Officer
416-628-5902
[email protected]
www.junocorp.com

Qualified Person

Scott Zelligan, P. Geo. (PGO #2078), Director of Exploration for Juno Corp., is a "Qualified Person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, and has reviewed and approved the scientific and technical disclosure contained in this news release.

Forward Looking Information

This news release contains forward-looking information within the meaning of applicable securities laws, including statements regarding the significance, continuity, deportment and metallurgical recoverability of the rare earth element mineralization disclosed in this news release; the potential recovery of rare earth elements as a by-product of a future iron-titanium-vanadium-scandium-gallium operation at Vespa; and the Company's planned 2026 exploration activities. Forward-looking information is frequently characterized by words such as "plan", "expect", "potential", "intend", "believe", "anticipate", "estimate", "may", or "will". Forward-looking information is subject to known and unknown risks and uncertainties, including that further exploration and metallurgical test work may not confirm the results disclosed in this news release; that rare earth element mineralization may not prove continuous, recoverable or economic; changes in commodity prices, government policy or regulatory frameworks; risks related to First Nations engagement; and the ability to secure financing and permits. Readers should not place undue reliance on forward-looking information. The Company assumes no obligation to update or revise any forward-looking information, except as required by applicable law.

SOURCE: Juno Corp.

View the original press release on ACCESS Newswire

A.Aguiar--PC