Voyageur Enters Revenue Stage with First Commercial Sale of Barium Contrast Agents

(TheNewswire)

Calgary, Alberta, Canada – TheNewswire - June 4, 2025 - VoyageurPharmaceuticals Ltd. (TSX.V:VM) (OTC Pink:VYYRF) ("Voyageur"or the "Company"), a radiology contrast media companyfocused on vertical integration and supply chain security, todayannounced its first commercial sale, marking the Company’s officialentry into revenue generating operations. The initial C$89,000purchase order, placed by a leading Canadian radiology provider,includes the full suite of Voyageur’s Health Canada–approvedbarium contrast products.

The order follows successful product evaluations andregulatory milestones, with first deliveries scheduled to begin inAugust through the Company’s Calgary-based manufacturing partner.

“This sale marks the beginning of Voyageur’scommercial era,” said Brent Willis, President and CEO. “Itconfirms market demand for our domestically produced contrast agentsand sets the stage for accelerated revenue growth as we scaleoperations and distribution “

Approved Product Line NowCommercialized:

Voyageur’s approved barium contrast agents areoptimized for a range of gastrointestinal imaging applications:

• SmoothX (2%w/v): For CT imaging of the GI tract; noted for its improved tasteand tolerability. 

• SmoothHD® 105%: High-density suspension for upper GI and double contraststudies; delivering sharp mucosal detail. 

• SmoothLD® (60%
  w/v): Low-density suspension for single contrast
  GI studies. 
  

  
  

• VisionHD® (98%
  w/w): Powdered high-density suspension for upper
  GI double-contrast imaging. 
  

  
  

• VisionLD® (96%
  w/w): Powdered low-density suspension for single
  contrast studies.  
  

  
  

Poised for Scalable Growth with
Strategic Resource Advantage

With commercial sales now underway, Voyageur is focused
on expanding distribution across Canada. This infrastructure is
designed to scale alongside the Company’s Frances Creek Project in
British Columbia, a 100% owned, pharmaceutical grade barium sulfate
resource.

Key advantages of Frances Creek include:

• Low-Cost Production– Estimated at ~C$650/tonne, significantly undercutting
  synthetic imports. 
  

  
  

• Long-Term Supply– 120,000-tonne resource valued at C$344M, expected to
  support 50 years of production. 
  

  
  

• Strategic Positioning– Enables North American supply chain independence and cost
  leadership. 
  

  
  

• Sustainability Focus– Plans for carbon-neutral operations utilizing advanced
  capture technology. 
  

  
  

Barium contrast media play an essential role in
gastrointestinal imaging, offering a reliable, radiopaque medium with
favorable safety and cost profile compared to oral iodinated agents.
Voyageur’s innovative formulations are designed to meet the needs of
both adult and pediatric patients in a range of imaging
contexts.

The Company believes this vertical integration strategy
will enhance margins, ensure quality control, and create a lasting
competitive edge in the barium contrast media market.

All inquiries for purchasing Voyageurs product line,
please contact Ethan Mohan ethan@vpharma.ca

About Voyageur PharmaceuticalsLtd.

Voyageur, a Canadian public company trading under thesymbol VM on the Exchange, is in development of barium and iodineActive Pharmaceutical Ingredients (API) that offer high-performanceand cost-effective imaging contrast agents. With a strategic focus onvertically integrating the barium and iodine contrast markets,Voyageur aims to become a key player by producing its own barium andiodine. In addition, Voyageur is pursuing the development of new endofullerene drugs.

Voyageur's business plan is set to generate cash flow by partneringwith established third-party GMP pharmaceutical manufacturers inCanada thereby ensuring the validation of its products by regulatoryagencies worldwide. As Voyageur solidifies its presence in the market,it plans to transition into a high-margin domestic manufacturer ofradiology drugs.

At the core of its operations, Voyageur owns a 100% interest in theFrances Creek Project. Currently, the world's pharmaceutical bariumsulphate is almost entirely synthetically produced resulting in a lesseffective imaging quality product. Voyageur’s Frances Creek resourceboasts a rare and exceptional grade mineral suitable for thepharmaceutical marketplace that Voyageur believes will replace thecurrent synthetic products with higher quality imagingproducts.

Voyageur's ambitious vision is to become the firstvertically integrated company in the radiology contrast media drugmarket. By controlling all primary input costs, from the sourcing ofraw materials to final production, Voyageur believes it can ensurequality and cost efficiency. With its approach, it embodies the mottoof "From the Earth to the Bottle," highlighting Voyageur'scommitment to responsible sourcing and manufacturingpractices.

For Further Information:

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 first deliveries of products beginning in August; the Company's
expectation that the Frances Creek Project has enough supply to
support 50 years of production; the Company's plans for carbon-neutral
operations utilizing advanced capture technology; the Company's belief
that its vertical integration strategy will enhance margins, ensure
quality control, and create a lasting competitive edge in the barium
contrast media market; 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 mineral 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.

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