Mr. Nicholas Konkin reports

EV MINERALS CLOSES ACQUISITION OF NICKEL PROJECTS IN SUDBURY, ONTARIO

EV Minerals Corp., further to its press releases of Feb. 23, 2024, and Feb. 29, 2024, has acquired the Baldwin and Lunge projects. The acquisition was carried out pursuant to a purchase agreement with Graycliff Exploration Ltd.

As partial consideration for the Sudbury projects, the company issued the vendor an aggregate of two million common shares in the capital of the company, at a deemed issuance price of five cents per common share. In addition, as partial consideration for the Sudbury projects, the company made a one-time cash payment of $25,000 to the vendor on Feb. 6, 2024, upon signing of the letter of intent dated Feb. 6, 2024, between the company and the vendor.

The company acknowledges that there is an existing 2-per-cent net smelter return royalty (NSR) on the Sudbury projects, and, upon closing of the acquisition, the company assumed the vendor's obligations of the NSR and will have the right to buy back 1 per cent of the NSR for $1-million (reducing such NSR to 1 per cent).

All common shares issued are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.

About EV Minerals Corp.

EV Minerals is a Canadian exploration company focused on mineral exploration and development. The current focus is the EV nickel project, host of the nickel-copper-cobalt McNickel deposit. The project comprises 32 mineral claims covering approximately 1,792 hectares located in the Saguenay area, the province of Quebec. This deposit is reputed containing a historical resource of 5,585,000 tonnes with grades of 0.21 per cent nickel, 0.11 per cent copper and 0.03 per cent cobalt (National Instrument 43-101 non-compliant resource), which is to be re-evaluated with the consideration of using either bioleaching or acid leaching, and electrowinning for nickel, cobalt and copper recovery.

We seek Safe Harbor.