Voyageur Advances Frances Creek Barite Project with VAST Engagement for Bulk Sample Permit

August 18, 2025 (Source) — Voyageur Pharmaceuticals Ltd. (TSX.V: VM) (OTC: VYYRF) (“Voyageur” or the “Corporation”), is pleased to announce that it has engaged VAST Resource Solutions Inc. (“VAST”), a leading multidisciplinary consulting firm based in British Columbia, to prepare and lead the submission of a Bulk Sample Permit Application for the Frances Creek Barite Mine. Voyageur’s management believes Frances Creek represents a highly strategic asset in the North American contrast media supply chain, thanks to its pharmaceutical grade purity and vertically integrated value proposition.

VAST’s appointment marks a significant step forward in advancing the project toward a full-scale feasibility study anticipated in 2026.

Scope of Engagement

Under this engagement, VAST’s will oversee a comprehensive scope of work, including:

• Site Assessment & Sampling: Terrain stability evaluations, vegetation analysis, and collection of samples for ML/ARD testing. 
• Permit Documentation: Preparation of the Terrain Stability Assessment and Bulk Sample Plan in accordance with Engineers and Geoscientists of BC (EGBC) professional practice guidelines and provincial regulations.  
• Advanced Mapping & Infrastructure: LiDAR-based, geo-referenced site mapping of mining zones, access routes, and site infrastructure. 
• Environmental & Regulatory Strategy: Development of plans for erosion control, groundwater protection, dust mitigation, and reclamation. 
• Regulatory Engagement: Submission of the Notice of Work (NoW) and coordination with applicable regulatory bodies. 

This engagement builds directly on the environmental and geotechnical field work completed in 2023 with VAST, which supported the Notice of Work and future quarry permitting. With this next step, Voyageur continues to advance Frances Creek methodically toward feasibility and commercialization.

Positioning for Secure Domestic API Supply

“This engagement is a critical step toward building a secure, vertically integrated supply chain for natural barium sulfate,” said Brent Willis, CEO of Voyageur. “By partnering with VAST, we ensure that our application process is rigorous, environmentally responsible, and aligned with regulatory expectations.” Voyageur remains committed to bringing pharmaceutical-grade barite production into North America and steering the “From the Earth to the Bottle” vision forward.

Voyageur’s Frances Creek deposit is a uniquely positioned resource that underpins its strategy to eliminate dependency on foreign-sourced materials and bring pharmaceutical-grade barite production home to North America.

About Voyageur Pharmaceuticals Ltd.

Voyageur, a Canadian public company trading under the symbol VM on the on the TSX Venture Exchange, is in development of barium and iodine Active Pharmaceutical Ingredients (API) that offer high-performance and cost-effective imaging contrast agents. With a strategic focus on vertically integrating the barium and iodine contrast markets, Voyageur aims to become a key player by producing its own barium and iodine. In addition, Voyageur is pursuing the development of new endo fullerene drugs.

Voyageur’s business plan is set to generate sales by partnering with established third-party GMP pharmaceutical manufacturers in Canada thereby ensuring the validation of its products by regulatory agencies worldwide. As Voyageur solidifies its presence in the market, it plans to transition into a high-margin domestic manufacturer of radiology drugs.

At the core of its operations, Voyageur owns a 100% interest in the Frances Creek barium sulphate (barite) project. Currently, the worlds pharmaceutical barium sulphate is almost entirely synthetically produced resulting in a less effective imaging quality product. Voyageur’s Frances Creek resource boasts a rare and exceptional grade mineral suitable for the pharmaceutical marketplace that Voyageur believes will replace the current synthetic products with higher quality imaging products.

Voyageur’s ambitious vision is to become the first vertically integrated company in the radiology contrast media drug market. By controlling all primary input costs, from the sourcing of raw materials to final production, Voyageur believes it can ensure quality and cost efficiency. With its approach, it embodies the motto of “From the Earth to the Bottle,” highlighting Voyageur’s commitment to responsible sourcing and manufacturing practices.

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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Statement Regarding “Forward-Looking” Information

This news release may contain certain forward-looking information and statements, including without limitation, statements pertaining to: the successful completion of the work by VAST required to submit the Bulk Sample Permit Application; the successful completion of the feasibility study; the estimated costs of the VAST engagement; the Company’s expectation regarding the benefits of its vertically integrated model; the Company’s plans to expand its US operations over the course of the following months and years; the Company’s belief that it can be the only iodine drug manufacturer in North America with vertically integrated control over its natural iodine resource, intermediate compound production, API synthesis, and final drug manufacturing; the Company’s belief that it can become one of the first to operate a fully-integrated iodine-based and barium-based pharmaceutical manufacturing platform; the Company’s aim to become a key player in the barium and iodine contrast markets, the Company’s plan to transition into a high-margin domestic manufacturer of radiology drugs; the Company’s belief that the Frances Creek Project’s mined barium sulphate produced from the barite minerals at the Frances Creek Project will result in higher quality imaging products and will replace the current synthetic products in the pharmaceutical marketplace with higher quality imaging products; and the Company’s belief that it can ensure quality and cost efficiency by controlling all primary input costs. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company’s disclosure documents on the SEDAR+ website at www.sedarplus.ca. Voyageur does not undertake to update any forward-looking information except in accordance with applicable securities laws.