Mr. Lawrence Roulston reports

MTB METALS ANNOUNCES FILING OF SPECIAL MEETING MATERIALS IN CONNECTION WITH PROPOSED ARRANGEMENT WITH EXGEN RESOURCES INC. AND FILING OF TECHNICAL REPORT FOR TELEGRAPH PROPERTY

Further to the news release dated Oct. 17, 2025, MTB Metals Corp. has filed with the applicable Canadian securities regulatory authorities a management information circular dated Nov. 5, 2025, and related meeting materials of MTB for use at the special meeting of MTB shareholders and MTB optionholders to be held in connection with the proposed plan of arrangement under the Business Corporations Act (British Columbia) involving MTB and ExGen Resources Inc.

At the meeting, securityholders will be asked to consider a special resolution approving the arrangement pursuant to which ExGen will acquire all of the issued and outstanding common shares of MTB. Pursuant to the arrangement, each shareholder will receive 0.286 of a common share of ExGen in exchange for each share held, with the result that the current securityholders of MTB will become securityholders of ExGen and will hold approximately 36.88 per cent of the combined company.

The board of directors of MTB recommends that securityholders vote for the arrangement resolution.

Additional details with respect to the arrangement and the reasons for the recommendation of the board, as well as the potential benefits and risks of the arrangement, are described in the circular, which securityholders are encouraged to read in its entirety.

Details of the meeting

The meeting is scheduled to be held at 1111 West Hastings St., 15th floor, Vancouver, B.C., V6E 2J3, at 10 a.m. Vancouver time, on Dec. 11, 2025, subject to adjournment or postponement. Securityholders are encouraged to carefully read the notice of meeting, the circular and other meeting materials for information concerning the arrangement, the arrangement resolution and voting. Only securityholders of record as at the close of business on Oct. 30, 2025, are eligible to vote at the meeting.

Meeting materials

MTB has commenced the mailing of copies of the meeting materials to securityholders entitled to vote on the arrangement at the meeting. Securityholders are able to vote, either directly or by proxy, or indirectly through their intermediary.

The meeting materials are available under MTB's profile on SEDAR+. The meeting materials have also been posted in a prominent location on MTB's website and are accessible electronically.

Filing of Telegraph technical report

The company also announces that, in connection with the arrangement, the company has filed a technical report prepared in accordance with National Instrument 43-101 (Standards of Disclosure for Mineral Projects) on the Telegraph property, a copper-gold project strategically located adjacent to ExGen's Dok property interest in the Golden Triangle region of British Columbia.

The Telegraph property is currently owned by MTB and will be transferred to ExGen upon completion of the arrangement. The technical report, titled "Technical Report on the Telegraph Property 2025" and effective as of Oct. 3, 2025, has been filed on SEDAR+ under the company's profile.

Telegraph property

The Telegraph property is located in the Liard mining district in northwestern British Columbia's Golden Triangle. The property is located immediately west of Yehiniko Lake, approximately 45 kilometres southwest of Telegraph Creek, B.C., and 1,075 km northwest of Vancouver. The terrain encompasses moderate to steep mountain topography typical of the area. Elevations range from 250 metres above sea level to approximately 2,450 metres above sea level at the summit of Crocus Mountain. Approximately 15 per cent of the property is covered by alpine glaciers.

The technical report was prepared by Brady Clift, PGeo, an independent qualified person as defined by National Instrument 43-101. Information of a scientific or technical nature in respect of the Telegraph property in this news release is derived from the technical report.

About MTB Metals Corp.

MTB is advancing two copper-gold projects in the prolific Golden Triangle of Northern British Columbia:

• Telegraph: 350-square-kilometre property located in the vicinity of four notable porphyry deposits all being explored or mined by major mining companies; fieldwork by MTB, together with earlier results, provides compelling evidence for the presence of one or more porphyries similar to the others in the area;
• Southmore: 50-square-kilometre property hosts several significant copper and gold occurrences; surface samples include a sample with 12.7 per cent copper and another with 29.4 grams per tonne gold.

MTB also holds royalties on four projects in the Golden Triangle, including two past-producing mines, and it holds 480,072 shares of Dolly Varden Silver.

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