Tiago Cunha Announces Acquisition of Shares in South Star Battery Metals Corp.

VANCOUVER, British Columbia, Nov. 12, 2026 (GLOBE NEWSWIRE) -- Tiago Sampaio Cunha is the interim CEO, President and director of South Star Battery Metals Corp. (the “Company”) whose head office is located at Suite 1507 - 1030 West Georgia St., Vancouver, British Columbia, V6E 2Y3, Canada. Mr. Cunha, together with his affiliates (the “Cunha Group”), holds common shares of the Company (the “Shares”) directly and indirectly, including through the following funds directed and controlled by Mr. Cunha: GROU SPO FUNDO DE INVESTIMENTO EM ACOES INVESTIMENTO NO EXTERIOR (“SPO”), GROU PROVENCE FUNDO DE INVESTIMENTO EM ACOES INVESTIMENTO NO EXTERIOR (“Provence”), and GROU ABSOLUTO 30.

On November 12, 2026, Mr. Cunha, through SPO and Provence, exercised an aggregate of 11,722,333 common share purchase warrants at an exercise price of C$0.20 per Share for aggregate consideration of C$2,344,466.60 (the “Transaction”), acquiring 11,722,333 Shares.

Immediately before the Transaction, Mr. Cunha, including securities held through the Cunha Group, held 39,278,419 Shares and 21,111,933 common share purchase warrants, representing 27.68% of the issued and outstanding Shares on a non-diluted basis and 37.04% on a partially diluted basis. Immediately following the Transaction, Mr. Cunha’s direct and indirect holdings totalled 51,000,752 Shares and 9,389,600 common share purchase warrants, representing 33.19% of the issued and outstanding Shares on a non-diluted basis and 37.04% on a partially diluted basis.

Mr. Cunha may acquire additional securities or dispose of securities of the Company in the future either on the open market, privately or otherwise, depending on market conditions, reformulation of plans, other available investment business opportunities and/or other relevant factors.

The address of Mr. Cunha is c/o Suite 1507 - 1030 West Georgia St., Vancouver, British Columbia, V6E 2Y3, Canada.

A copy of the Early Warning Report will be available under the Company’s profile at www.sedarplus.ca, or may be obtained by contacting Judson Culter at jculter@invictusaccounting.com or 604-343-3889.