File: '\\swfile\EmailIn\20240719 151419 Attachment ENRG_NR_20240719_PP Closing.docx'

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NEW ENERGY ANNOUNCES

CLOSING OF PRIVATE PLACEMENT

Vancouver, British Columbia - July 19, 2024 - New Energy Metals Corp. (TSXV: ENRG) (OTCPink: NEMCF) ("New Energy" or the "Company") is pleased to announce that further to its news release dated June 5, 2024, it has closed the non-brokered private placement (the "Offering") of 1,000,000 shares at $0.10 per share for gross proceeds of $100,000.

The Company intends to use the proceeds from the Offering for working capital and other general corporate purposes.

All securities issued will be subject to a four month and one day hold period in accordance with applicable securities legislation.

The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any U.S. state securities laws and may not be offered or sold in the U.S. or to the account or benefit of a U.S. person or a person in the U.S. absent registration or an applicable exemption from the registration requirements.

ON BEHALF OF THE BOARD OF DIRECTORS,

New Energy Metals Corp.

Kenneth Kaczkowski

Chief Executive Officer

Tel: 305-280-4161

www.new-enrg.com

About New Energy Metals Corp.

New Energy Metals Corp. is a Canadian-based resource company listed on the TSX Venture Exchange under the symbol "ENRG". The Company has an option to purchase a 100% interest in the Troitsa Copper property covering approximately 7,000 hectares located in the Omineca Mining Division of British Columbia.

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 release.

This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, the use of the proceeds raised under the Private Placement.

These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, market uncertainty and that the Company will not use the proceeds of the Private Placement as currently anticipated. In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company will use the proceeds of the Private Placement as currently anticipated. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.