Mr. Mark Saxon reports

T2 METALS REPORTS EXCEPTIONAL 23.5 M AT 6.8 G/T GOLD DRILL INTERSECTION FROM THE SHERRIDON VHMS PROJECT, MANITOBA

T2 Metals Corp. has released a third set of results from the fourth quarter 2023 infill and delineation drill program at the Sherridon project in Manitoba, that include the highest gold grades reported from the project to date. Sherridon is a well-known volcanic-hosted massive sulphide (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 adjacent to an operating rail line.

These data represent the third set of results and include three shallow holes from the southeast end of the Lost Lake prospect, targeted on the basis of a shallow southeast-plunging exploration model. Of particular note is hole SHN23005, drilled near the southeasternmost limits of the known Lost Lake resource, with very high grades of gold and copper over 23.5 metres. The intersection lies only 20 m below surface and includes some of the highest gold grades ever discovered at Sherridon.

The high gold and copper grades over a broad interval highlight the potential of VHMS style of mineralization in complexly folded host rocks. Gold grades have been higher than anticipated in numerous holes in the Q4 2023 program, indicative of improved analytical methods versus prior explorers. Gold results in hole SHN23005 were rechecked with screen fire assay to overcome potential coarse gold analytical issues. Additional ground in the Sherridon area has been staked by T2 Metals in response to the results from this drilling program (see company press release dated Feb. 22, 2024).

The most significant drill intersections of copper, zinc, gold and silver are provided herein.

Drilling highlights include:

Lost Lake:

• SHN23005: 23.50 m grading 1.18 per cent Cu, 1.46 per cent Zn, 6.8 grams per tonne Au and 40.4 g/t Ag (7.4 per cent copper equivalent) from 38 m:
  • Including 4.50 m grading 0.38 per cent Cu, 0.02 per cent Zn, 29.2 g/t Au and 138.8 g/t Ag (25 per cent CuEq) from 38 m;
  • Including 8.67 m grading 2.48 per cent Cu, 3.59 per cent Zn, 2.5 g/t Au and 30 g/t Ag (5.8 per cent CuEq) from 50.05 m.
• SHN23006: four m grading 0.07 per cent Cu, 0.42 per cent Zn, 1.6 g/t Au and 17.6 g/t Ag (1.7 per cent CuEq) from 154 m;
• SHN23007: 6.70 m grading 0.82 per cent Cu, 2.62 per cent Zn, 0.3 g/t Au and 7.7 g/t Ag (2 per cent CuEq) from 84.82 m:
  • Including 2.54 m grading 1.48 per cent Cu, 5.19 per cent Zn, 0.7 g/t Au and 14.4 g/t Ag (3.8 per cent CuEq) from 88.98 m.

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

The 2023 Q4 drill program saw 12 holes drilled with 10 intersecting intervals of semi-massive or massive sulphide from the Lost Lake and Cold Lake prospect areas. The exceptional thickness of mineralization in hole SHN23005 may be associated with a range of factors, including late remobilization of Au, Ag and Pb into the hangingwall of the VHMS system (analogous to the Chisel Lake basin VHMS deposits found 70 kilometres to the southeast) following intense regional deformation and metamorphism that effectively thickened the host horizon, and present a new targeting opportunity.

Mark Saxon, chief executive officer of T2 Metals, said: "This set of high gold drill results from the southeast end of the Lost Lake prospect represent a key moment for the Sherridon project. Gold-rich and gold-dominant VHMS deposits are well known from the Flin Flon-Snow Lake greenstone belt and form very attractive targets. The grade and thickness of SHN23005 demonstrates the quality of mineralization that can exist at Sherridon, presenting new targets throughout the project area.

"The Sherridon project is a relatively underexplored part of the Flin Flon-Snow Lake greenstone belt, particularly with respect to deep drilling and targets similar to that drilled in SHN23005 lay completely untouched. We are very encouraged by the success of our exploration programs to date, along with the support of the Kiciwapa Cree and the Manitoba Mineral Development Fund (MMDF)."

Twelve holes for a total of 1,500 metres were completed by T2 Metals during Q4 2023, testing a total strike length of 1,420 metres within, between and southeast of 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 current T2 Metals drilling campaign further delineates shallow-dipping and plunging massive sulphide lenses and extends the 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, and despite the widespread precious and base metal endowment.

The company is incorporating 2023 results including assays, lithogeochemistry and core logging 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 provide 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 received and reported.

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.

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 Veritas Minerals Analytical Lab preparation facility in Timmins, Ont., for sample preparation. Sample analysis was carried out at Bureau Veritas Minerals laboratory in Vancouver, B.C.

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.