An anonymous director reports

METAL ENERGY CLOSES ADDITIONAL INVESTMENT FROM STRATEGIC INVESTORS

Metal Energy Corp. has closed the additional strategic investments by existing shareholders Centerra Gold Inc. and Teck Resources Ltd., pursuant to the exercise of 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 issued 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 were issued and no finders' fees were paid in connection with this issuance.

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

The offering remains subject to the final approval of the TSX Venture Exchange. The shares issued pursuant to the offering are subject to a statutory hold period of four months and one day from the date of issuance.

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. Drilling at NIV commenced on June 29, marking the start of a 6,000-metre program designed to test undrilled copper-gold porphyry targets. This 2026 program is the first-ever drill campaign at NIV, which hosts extensive and coincident soil geochemical, induced polarization (IP) and magnetic anomalies in a favourable geological setting. The company's Highland Valley project is a second permitted, drill-ready asset, offering investors additional discovery upside and further copper exposure.

Teck Resources and Centerra Gold are each strategic investors in Metal Energy. The company has a robust balance sheet and is fully financed for the entirety of its 2026 exploration programs. The proceeds of the strategic investments by Teck and Centerra are directed entirely toward exploration at the NIV project.

Metal Energy's portfolio includes three high-potential projects:

• NIV project (Cu-Au-Mo (copper-gold-molybdenum), 100 per cent controlled), Toodoggone district, British Columbia;
• Highland Valley project (Cu-Mo-Ag-Au-Re (copper-molybdenum-silver-gold-rhenium), 100 per cent owned), British Columbia;
• Manibridge project (Ni-Cu-Co-PGE (nickel-copper-cobalt-platinum group element), 85 per cent owned), Manitoba.

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