Mr. Charlie Greig reports

METAL ENERGY ANNOUNCES ADDITIONAL INVESTMENT FROM ITS STRATEGIC INVESTORS

Metal Energy Corp. existing shareholders, Centerra Gold Inc. and Teck Resources Ltd., have elected to exercise their respective top-up rights to maintain their respective 9.9-per-cent equity interests in the company, as provided under their respective investor rights agreements.

The company will issue 550,000 common shares at a price of 89 cents per share, for total gross proceeds of approximately $490,000. The price was determined in accordance with the investor rights agreements. No warrants will be issued and no finders' fees will be paid in connection with this issuance.

"We are grateful for the continued backing of Centerra and Teck as we work to unlock the potential of what NIV has to offer," said Charlie Greig, chief executive officer of Metal Energy. "We are well into our first drill program on the property, testing what we think is one of the most promising undrilled porphyry targets in British Columbia. We like what we are seeing so far, and we are looking forward to the first set of assays."

Metal Energy will use the proceeds from the offering for general corporate and working capital purposes.

Closing of the offering is expected to occur on or before Aug. 17, 2026, subject to the satisfaction of certain customary closing conditions, including, but not limited to, the receipt of all necessary regulatory approvals and acceptance of the TSX Venture Exchange.

Qualified person

The technical information contained in this news release has been reviewed and approved by Mr. Greig, PGeo and CEO, and a qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About Metal Energy Corp.

Metal Energy is a critical metals exploration company focused on copper and gold assets in Canada. The company's flagship asset, NIV, is a fully permitted and drill-ready copper-gold-molybdenum project located in British Columbia's prolific Toodoggone district, a region known for significant porphyry deposits.

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