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New Energy Metals Cancels Non-Brokered Private Placement

Vancouver, British Columbia - December 13, 2024 - New Energy Metals Corp. (TSXV: ENRG) (OTCQB: NRGYF) ("New Energy" or the "Company") announces that it has decided not to proceed with the non-brokered private placement previously announced on October 18, 2024.

The Company has made this decision as part of an ongoing review of timing and strategy for its financing initiatives. New Energy remains committed to raising capital through a private placement at a future date, aligning with its broader goals and shareholder interests.

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.

Forward Looking Statements

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events or developments that the Company believes, expects or anticipates will or may occur are forward-looking information. 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. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.