Mr. Mark Saxon reports

T2 METALS REPORTS HIGH GRADE POLYMETALLIC DRILL RESULTS AT ITS SHERRIDON VHMS PROJECT, MANITOBA

T2 Metals Corp. has released the first of three sets of assay results from the fourth quarter 2023 infill and delineation drill program at the Sherridon volcanic-hosted massive sulphide (VHMS) project in Manitoba. Sherridon is a well-known VHMS camp in the Flin Flon-Snow Lake greenstone belt, with both a significant mining history and substantial copper-rich historical resources calculated on behalf of Halo Resources Ltd. in 2010. The project has year-round road access, is 70 kilometres from the mining centre of Flin Flon and lies upon an operational train line.

The Q4 2023 drill program was the first completed by T2 Metals at the project, and the first at Sherridon in over a decade. The program was highly successful, with 10 of a total of 12 holes intersecting intervals with semi-massive or massive sulphide. Holes were targeted to intersect shallow mineralization within and along strike from Lost Lake and Cold Lake historical resources. Core from prior drilling has not been recovered.

The first batch of 2023 results includes four shallow holes at both the Lost Lake and Cold Lake areas, which ranged in length from 77 to 134 metres. Reported holes tested a total strike length of approximately 365 m.

Drilling highlights include:

Cold Lake:

• SHN23009:
  • 5.74 m grading 1.42 per cent copper, 1.18 per cent zinc, 0.85 gram per tonne gold and 18.8 g/t silver (2.63 per cent copper equivalent) from 34.91 m.
• SHN23010:
  • 5.52 m grading 1.77 per cent Cu, 1.47 per cent Zn, 2.30 g/t Au and 37.2 g/t Ag (4.41 per cent CuEq) from 105 m.

Lost Lake:

• SHN23008:
  • 14.4 m grading 0.88 per cent Cu, 2.58 per cent Zn, 0.51 g/t Au and 9.8 g/t Ag (2.16 per cent CuEq) from 49.38 m, including:
    • 2.75 m grading 3.34 per cent Cu, 6 per cent Zn, 1.92 g/t Au and 33.2 g/t Ag (6.99 per cent CuEq) from 49.38 m.
• SHN23011:
  • 14.5 m grading 0.92 per cent Cu, 2.82 per cent Zn, 0.78 g/t Au and 13.8 g/t Ag (2.52 per cent CuEq) from 39 m, including:
    • 9.28 m grading 0.85 per cent Cu, 4.01 per cent Zn, 1.08 g/t Au and 17.6 g/t Ag (3.09 per cent CuEq) from 44.22 m.
• SHN23012:
  • Hole stopped prior to target horizon.

Reported drill intercepts are downhole core lengths with true thickness estimated to be at least 90 per cent of core downhole length.

Mark Saxon, chief executive officer of T2 Metals, said: "We are very pleased with these first drill results from the Sherridon drilling program. Having never seen the mineralization in core before, it has been very informative for our geologists to see the high copper-zinc grades that can develop. Of particular note are the high gold grades, significantly above those previously identified in the massive sulphide mineralization at Sherridon, probably due to improved analytical methods versus past explorers. We feel confident that our ongoing exploration can improve the size and grade of the Cold Lake and Lost Lake historic resources."

Jim Pickell, geological consultant for T2 Metals, commented: "After contributing to the discovery of several VHMS deposits within the Flin Flon-Snow Lake greenstone belt, I am thrilled to be supporting the T2 Metals team and apply knowledge gained to the analogous and relatively sparsely explored Sherridon area. From what I've seen to date, I'm optimistic that the currently defined historic mineral resources can be extended, and entirely new VHMS deposits can be discovered.

"The strong regional metamorphism in the Sherridon area has created coarser-grained sulphide mineralization, potentially enabling simpler metallurgy. Furthermore, the metamorphism has converted non-conductive pyrite into highly conductive pyrrhotite that can be much more readily detected by conventional geophysical systems. The elevated gold credits noted in the drilling certainly provide another valuable contribution to overall attractiveness of the project."

Twelve holes for a total of 1,500 metres were completed, testing a total strike length of 1,420 metres within and between the Cold Lake and Lost Lake deposits. These two deposits occur along a VHMS horizon that is both parallel to and normally less than 850 metres perpendicular to the VHMS horizon that hosts Sherritt Gordon's historic Sherridon East and Sherridon West Mines, where 7.74 million tonnes were mined at an average grade of 2.46 per cent Cu, 2.84 per cent Zn, 0.6 g/t Au and 33 g/t Ag between 1931 and 1951.

The Lost Lake and Cold Lake zones comprise a continuously mineralized horizon over a known strike length of approximately 1.8 km. The Lost and Cold prospects were the subject of investment by HudBay Minerals Inc. from 2009 to 2012 that included metallurgical drilling with a view to open-pit mining and subsequent processing in Flin Flon.

Assay results confirm the visual identification of semi and massive sulphide in the core and logging (see press release dated Nov. 1, 2023). The results delineate shallow-dipping and plunging massive sulphide lenses and extend historical drilling results by the previous explorers. It is also important to note that the while the Sherridon area is spatially and genetically associated with the prolific Paleoproterozoic Flin Flon-Snow Lake greenstone belt (FFSLGB), it has been underexplored despite the abundance of highly prospective felsic volcanic rocks, which host almost all of the historic VHMS resources in the FFSLGB, the widespread precious and base metal endowment.

Drilling results further refine and delineate the mineralized body geometry, structure and grade. Information from this drill program, plus camp-scale compilation work, further demonstrate the strong regional flat southeasterly plunge controls and robust footwall alteration vectoring features.

The company is incorporating 2023 results including lithogeochemistry into its 3-D geological model to complete interpretation/analysis. Many geophysical follow-up opportunities and key VHMS-associated structural controls exist at Sherridon which provides additional high-value targets for planned 2024 drill programs. Cold Lake, Lost Lake and other historic resource areas are being considered for drill testing in 2024. Cross-sections will be provided during Q1 2024 when all drill data are to hand.

VHMS-type deposits

VHMS deposits are attractive high-value exploration targets that sustain much of the world's supply of zinc, copper and silver and in addition are a major source of critical high-tech metals germanium and indium. They typically occur in districts or camps comprising numerous deposits of various sizes. They can be very high grade and are regularly gold-enriched, with large, very long-life deposits being company-makers (such as the founding of Rio Tinto). Longer-life mining operations tend to show total production exceeding the original premining size by more than three times.

VHMS deposits can be discovered with conventional geophysical methods. Most deposits have simple sulphide mineralogy that is amenable to processing and high recovery.

Sampling procedures and quality assurance/quality control

The company's QA/QC drill core sample protocol consists of collection of samples over a minimum 0.3 m interval to a maximum 1.4 m interval (depending on the lithology and style of mineralization) over the mineralized portions of the drill hole. The drill core sample is cut in half with a diamond saw, with half of the core placed in individual sealed polyurethane bags and the remaining half securely retained in the original core box for permanent storage. Drill core samples are shipped by transport truck in sealed woven plastic bags to Bureau Vertias Minerals analytical lab preparation facility in Timmins, Ont., for sample preparation. Sample analysis was carried out at the Bureau Veritas Minerals laboratory in Vancouver, B.C.

Gold was determined by Bureau Veritas method FA430, a lead fire assay fusion of a 30-gram pulverized sample with a atomic absorption spectroscopy (AAS) finish. Various metals including silver, gold, copper, lead and zinc were determined by inductively coupled plasma atomic emission spectroscopy (ICP-AES) or inductively coupled plasma mass spectrometry (ICP-MS), following multiacid digestion (Bureau Veritas method MA270). This method is considered an assay method with a precision of 5 per cent for elements including copper, lead, zinc and silver. Select samples were analyzed for gallium (Ga) and germanium (Ge) and concentrations were determined using a hydrofluoric and aqua regia digest, followed by an ICP-MS finish.

The qualified person for the company's projects, Mr. Saxon, the company's chief executive officer, a fellow of the Australasian Institute of Mining and Metallurgy and a member of the Australian Institute of Geoscientists, has reviewed and approved the contents of this release.

About T2 Metals Corp.

T2 Metals is an emerging copper and precious metal company enhancing shareholder value through exploration and discovery. The company continues to target underexplored areas, including the Sherridon, Lida, Cora and Copper Eagle projects where postmineralization cover masks areas of high geological prospectivity in the vicinity of major mines.

We seek Safe Harbor.