Mr. Michael Gray reports

PERSEVERANCE METALS APPOINTS ISABELLE CADIEUX AS INDEPENDENT DIRECTOR

Perseverance Metals Inc.'s board of directors has appointed Isabelle Cadieux as an independent director, effective immediately.

Ms. Cadieux, a professional geologist in the province of Quebec, has over 35 years of experience in mineral exploration and the mining sector in both technical and financial roles, including serving for over 20 years as the managing director, investment, at SIDEX -- a Quebec institutional fund focused on exploration-stage companies in the province. Prior to SIDEX, Ms. Cadieux's global mineral exploration experience included positions with AGIP Canada, AREVA SA and Channel Resources among others, giving her deep knowledge in a wide range of ore deposit types and mineral commodities.

Ms. Cadieux leadership skills are exemplified by her previous volunteer roles including serving as: i) the president of the Ordre des Geologues du Quebec (OGQ) in 2008; ii) a member of the board of directors of the OGQ from 2005 to 2010 ; iii) director of the Canadian Council of Professional Geoscientists from 2007 to 2011 where she represented the OGQ, and; iv) a member of the executive committee of the UQAT-UQAM Chair in Mining Entrepreneurship from 2011 to 2016.

Ms. Cadieux holds an MSc in mineral exploration (MINEX) from McGill University and a BSc in geology from the University of Ottawa.

In addition to her volunteer work, Ms. Cadieux has been involved in various sector-related organizations throughout her career, including the Quebec Mineral Exploration Association (AEMQ), the Canadian Institute of Mines and Metallurgy (CIM), Minalliance, and Mine d'Avenir among others.

"On behalf of the board of directors, I am thrilled to welcome Isabelle to the Perseverance Metals team," commented Michael Gray, chair of Perseverance. "Her extensive experience in mineral exploration and fund management -- particularly in Quebec -- makes her a key addition to our board. Her appointment underscores the company's strong commitment to seek leadership at the board level in multiple, diverse, skill sets and to ensure our board reflects our strong interest in exploring in Quebec."

"I am honoured to join Perseverance Metals as an independent director," commented Ms. Cadieux. "PMI has assembled a strong management team and board, an impressive advisory group, multiple high-quality projects and a solid capital structure supported by the funding needed to advance its plans. I look forward to contributing to the company's continued growth and value creation."

About Perseverance Metals Inc.

Perseverance Metals is a critical minerals explorer with a project portfolio that is strategically located in key North American Ni-Cu-Co-PGE (nickel-copper-cobalt-platinum group element) and hard rock lithium regions, including Quebec's prolific James Bay district and Michigan's productive Mid-Continent Rift.

The company's strict science-driven approach and extensive record of discovery as leveraged via an exceptional technical advisory board, coupled with an industry-leading team armed with next-generation exploration tools, provide the company with a distinct competitive advantage. This offers a unique opportunity for investors to be exposed to a portfolio of projects with the potential for multiple discoveries. Perseverance's exploration assets include:

• The Lac Gayot high-grade Ni-Cu-Co-PGE and lithium pegmatite project, which covers the entirety of the 30 km Venus greenstone belt in Quebec, featuring numerous very high-grade Ni-Cu-Co-PGE showings and zones along with numerous large spodumene-bearing pegmatites with consistent high lithium grades in channel sampling;
• The Voyageur Ni-Cu-Co-PGE project which covers over 690 square kilometres of the Upper Peninsula in Michigan, 65 kilometres west of the Eagle Ni-Cu-Co-PGE mine -- the only producing nickel mine in the United States;
• The Armit Lake Ni-Cu-Co project, the underexplored western half of the nickel- and gold-rich Savant Lake greenstone belt in Ontario.

We seek Safe Harbor.