APEX CRITICAL METALS CORP.

APPENDIX "B" - SUMMARY OF CAP TECHNICAL REPORT

The executive summary of the CAP Technical Report is reproduced below:

1 EXECUTIVE SUMMARY

Apex Critical Metals Corp. ("Apex" or the "Company") has retained Jeremy Hanson, P.Geo. (the "Author"), to prepare an independent Technical Report on the Cap Property (the "Cap Property" or "Property"), located in BC, Canada. This report (the "Report" or "Technical Report") has been prepared in compliance with regulatory disclosure and reporting requirements as outlined in Canadian National Instrument 43-101 - Standards for Disclosure for Mineral Projects ("NI 43-101"), companion policy NI 43-101CP and Form 43-101F1 - Technical Report.

The purpose of this Report is to provide an updated and compliant technical summary of the Cap Property, British Columbia, including geology, exploration history, exploration results, and mineralization

1.1 Property Description

The Cap Property is located approximately 80 km northeast of Prince George, British Columbia, centered on 54°23'40"N, 121°44'17"W within NTS map sheet 93I/05. The Property is accessible via provincial highways and forestry roads to its southern portion, with helicopter support required for access to the primary exploration area due to rugged alpine terrain.

1.2 Mineral Tenure

The Cap Property consists of six contiguous mineral claims (CAP 1 through CAP06) covering 2,824.3 ha. All claims are in good standing until October 24, 2031, and are 100% registered to Apex Critical Metals Corp.

A 2% Net Smelter Return (NSR) royalty applies to five of the six claims (CAP 1-CAP 5); CAP06 is royalty-free. The Property is covered by an active Mines Act Permit (MX-11-251) authorizing multi-year exploration, including up to 60 drill sites, 20 helipads, and two laydown areas and valid until December 5, 2029.

1.3 Geology and Mineralization

The Cap Property hosts a carbonatite-related intrusive system referred to as the Cap Carbonatite Complex. Mineralization is associated with carbonatite and fenite-altered intrusive rocks and is characterized by niobium enrichment, locally accompanied by phosphate and rare earth elements (REE). Historical drilling in 2017 confirmed subsurface carbonatite-hosted mineralization, and recent drilling in 2025 and 2026 demonstrated lateral continuity of the system.

1.4 Exploration

Exploration on the Cap Property and surrounding area dates back to 2010, when early reconnaissance sampling and airborne geophysical surveys identified magnetic and radiometric anomalies coincident with the current property. Follow-up work by Arctic Star Exploration Corp. in 2011 refined a strong central magnetic anomaly and returned surface samples grading up to 0.27% Nb₂O₅. In 2017, Arctic Star completed prospecting and a four-hole diamond drill program totaling 647.5 m, confirming subsurface carbonatite-hosted mineralization in drillhole CAP17-004, which intersected intervals up to 10.42 m averaging 0.35% Nb₂O₅.

These results established the presence of a carbonatite system and guided subsequent exploration by Apex Critical Metals Corp.

Between 2023 and 2026, Apex advanced the Property through systematic exploration programs, including geological mapping, geochemical sampling, drone LiDAR and photogrammetry, airborne magnetic and radiometric surveys, and diamond drilling. Surface sampling in 2024 returned rock assays up to 3.33% Nb₂O₅, with associated phosphate and rare earth element enrichment, and outlined a 1.8 km niobium soil anomaly coincident with historical geophysical anomalies.

In 2025, Apex completed nine (9) NQ diamond drillholes totaling 2,323 m. The most significant intersection returned was from CAP25-006, which returned 124.5 m averaging 0.27% Nb₂O₅, including 10.0 m at 1.08% Nb₂O₅. Additional drillholes confirmed phosphate enrichment and localized REE mineralization, demonstrating lateral continuity of the Cap Carbonatite Complex and identifying new targets for follow-up drilling.

In 2026, Apex completed a follow-up program comprising three NQ drillholes totalling 1,072 m. CAP26-014 and CAP26-015, collared from the same pad as CAP25-006, intersected carbonatite and fenite from near surface to end of hole. CAP26-016 targeted the prominent magnetic anomaly at depth and intersected predominantly metasedimentary lithologies; the source of the anomaly was not identified. Assay results from the 2026 program are pending as of the effective date of this Report.

1.5 Mineral Resource & Mineral Reserve Estimates

No mineral resource or reserve estimates have been completed for the Property.

1.6 Development & Operations

No significant development of the Property or significant operations have been conducted on the Cap Property.

1.7 Conclusions & Recommendations

Exploration results confirm the presence of a multi-phase carbonatite system with potential for niobium and REE mineralization. Integration of geochemical, drilling, and geophysical data suggests the Cap Carbonatite Complex has potential to be part of a broader intrusive system. The prominent magnetic anomaly remains underexplored, with the source yet to be identified. Recommendations include more detailed investigation of existing geophysical datasets to further refine drill targets. Further exploration is warranted, including:

• Receipt and interpretation of 2026 assay results as the immediate priority, to evaluate grade and continuity of mineralization intersected in CAP26-014 and CAP26-015.

• Reprocessing and 3D inversion of existing airborne and ground geophysical datasets to constrain the geometry and source of the magnetic anomaly prior to further drilling.

• A follow-up targeted diamond drill program of approximately 1,000 to 1,500 m, with drillhole placement to be refined following receipt of 2026 assay results and completion of geophysical reprocessing.

• Continued soil sampling, geological mapping, and petrographic studies to refine the geological model.

1.8 Risks

The Cap Property is an early-stage exploration project. There is no guarantee that current or future exploration will result in an economic orebody. In addition to technical and economic uncertainties, exploration activities are subject to environmental and regulatory constraints, including seasonal work restrictions related to Mountain Caribou habitat and other wildlife mitigation measures. These factors may influence scheduling and costs but can be managed through compliance with permit conditions and proactive planning.