Deep Sea Minerals Clarifies Disclosure at the Request of the BCSC

Vancouver, BC, July 27, 2026 (GLOBE NEWSWIRE) -- Deep Sea Minerals Corp. (CSE: SEAS) (OTCQB: DSEAF) (FSE: X450) (“Deep Sea” or the “Company”) announces that, as a result of a review by the British Columbia Securities Commission (“BCSC”) in connection with the Company’s short form base shelf prospectus, we are issuing the following press release related to our disclosure and promotional activities.

Various promotions disseminated from February 26 to July 10, 2026, pursuant to the Company’s engagements with Capital Gain Media Inc., Exvera Communications Inc., Global One Media Group Pte. Ltd., Investor News Inc. (“Investor News”), Stockhouse Publishing Ltd. D.B.A. The Market Link (“Market Link”) and The Wall Street Analyst, LLC referenced one or more of the following topics. Investors are directed to the Company's amended and restated annual information form for the year ended December 31, 2025, dated July 27, 2026 (the “A&R AIF”), a copy of which is available under the Company's SEDAR+ profile at www.sedarplus.ca, for comprehensive information relating to the matters described below, including the material assumptions, regulatory milestones, risks, uncertainties, costs, and operational requirements associated with each topic:

(i) The Company's NOAA Application. The Company’s news release dated June 1, 2026, disclosed that the U.S. National Oceanic and Atmospheric Administration (“NOAA”) determined that the Company’s application for an exploration licence for a defined area of the Clarion-Clipperton Zone in the Pacific Ocean (the “NOAA Application”) under the Deep Seabed Hard Mineral Resources Act (the “DSHMRA”) was in substantial compliance with applicable U.S. regulatory requirements. The NOAA Application is an application by the Company’s wholly owned U.S. subsidiary, American Deep Sea Minerals Corp., for an exploration licence covering approximately 147,430 km² in the Clarion-Clipperton Zone. On May 26, 2026, NOAA determined the NOAA Application to be in substantial compliance with applicable regulatory requirements. On July 17, 2026, the Company submitted an amended application that it believes fully addresses NOAA's supplemental information requests. A substantial compliance determination is not a licence or any other authorization to commence offshore work. Before NOAA may issue an exploration licence, the NOAA Application remains subject to a full compliance determination, federal-agency consultation, antitrust review, a public comment period, certification, and preparation of a draft and final environmental impact statement and public hearings. See “Current Business” (including the milestone table) and “The Subsea Mineral Exploration and Development Industry – (b) Subsea Mineral Exploration and Development in International Waters” in the A&R AIF for further details.

(ii) The Company’s Cook Islands Application. The Company has incorporated a wholly owned Cook Islands subsidiary, Deep Sea Minerals (Cook Islands) Limited, to advance an application for an exploration licence in the exclusive economic zone of the Cook Islands (the “Cook Islands Application” and, together with the NOAA Application, the “Applications”). The Company has not yet formally submitted the Cook Islands Application. The Cook Islands Seabed Minerals Authority (“CISBMA”) has indicated that it does not presently intend to accept further formal exploration licence applications until after the forthcoming Cook Islands election and parliament reconvenes and approves additional designated parcel blocks and areas for licensing. If and when submitted, the Cook Islands Application will be subject to a multi-step assessment process involving CISBMA, an independent licensing panel, the responsible minister, and Cabinet approval. See “Current Business” (including the milestone table) and “The Subsea Mineral Exploration and Development Industry – (c) Subsea Mineral Exploration and Development in Exclusive Economic Zones” in the A&R AIF for further details.

(iii) The Company’s expectations regarding the timing of obtaining one or more subsea mineral exploration licences. Based on currently available information, the Company expects to submit the Cook Islands Application between Q3 2026 and Q1 2027, and anticipates that NOAA may issue an exploration licence in the range of Q4 2027, subject to completion of all required regulatory steps. These are estimates only and are subject to significant uncertainty. Actual timing will depend on, among other things, the outcome of NOAA's full compliance review, required environmental review and public processes, the timing of the Cook Islands election and government transition, and the availability of a licensing process in the Cook Islands. There can be no assurance that either Application will be approved, or that any exploration licence will be issued on acceptable terms or at all. See “Current Business” (including the milestone table), “Caution Regarding Forward-Looking Statements and Risk Factors”, and “Risk Factors” in the A&R AIF for further details.

(iv) The Company’s intended future offshore operations. The Company does not currently hold any mineral rights or operating authority in any exclusive economic zone or international waters and has not commenced offshore operations. Offshore operations cannot proceed unless and until the Company obtains the applicable exploration licences and all required operational, vessel, safety, environmental, monitoring, and reporting approvals. The Company does not own and does not currently intend to own proprietary subsea mining technology or specialized marine equipment, and expects to rely on qualified third-party technology providers, marine contractors, and independent environmental and scientific consultants for any future offshore work. Revenue from commercial production, if ever achieved, may take up to an additional 10 years following the granting of concessions by host jurisdictions. See “Current Business”, “The Subsea Mineral Exploration and Development Industry – (b) Subsea Mineral Exploration and Development in International Waters”, “The Subsea Mineral Exploration and Development Industry – (c) Subsea Mineral Exploration and Development in Exclusive Economic Zones”, “Economic Dependence”, “Foreign Operations”, and “Risk Factors” in the A&R AIF for further details.

Additionally, various promotions were disseminated for or on behalf of the Company from February 26 to July 10, 2026, that may not have clearly or conspicuously disclosed that such promotions were disseminated for or on behalf of the Company. Some of these promotions omitted a fact necessary to make a particular statement or information not false or misleading, or otherwise included unsubstantiated statements. As a result, investors should assume that all disclosure about the Company during the period from February 26, 2026, to July 10, 2026, other than the Company’s continuous disclosure record available under the Company’s SEDAR+ profile at www.sedarplus.ca, omitted a fact necessary to make a particular statement or information not false or misleading, or otherwise included unsubstantiated statements. In particular, each of the following statements, and statements similar thereto, among others, omitted a fact necessary to make it not false or misleading, or otherwise was unsubstantiated: