Mr. Scott Sheldon reports

FLOW METALS CLOSES FIRST TRANCHE OF FINANCING

Flow Metals Corp. has closed the first tranche of the non-brokered private placement previously announced on July 9, 2024. The company issued 3.3 million non-flow-through common shares at a price of five cents per non-flow-through share for gross proceeds to the company of $165,000.

The company has paid a finder's fee of $1,200 and it issued 24,000 non-transferable common share purchase warrants to a qualified party in connection with the private placement. Each finder warrant will entitle the holder thereof to acquire one common share of the company at a price of 6.5 cents for a period of 12 months from the date of closing.

The company plans to use the net proceeds of the private placement for working capital and general corporate purposes. The company may close one or more additional tranches of the private placement in accordance with investor interest.

All securities issued pursuant to the private placement will be subject to a four-month-and-one-day hold period, which will expire Dec. 24, 2024, pursuant to applicable securities laws of Canada.

Insider participation: Four company insiders participated in the private placement and subscribed for a total of 2.9 million shares. The participation by such insiders is a related party transaction within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the placement as neither the fair market value (as determined under MI 61-101) of the subject matter of nor the fair market value of the consideration for the transaction, insofar as it involved the related parties, exceeded 25 per cent of the company's market capitalization (as determined under MI 61-101).

About Flow Metals Corp.

Flow Metals is a mining exploration company focused on advancing two 100-per-cent-owned road access projects in established mining districts. Sixtymile is a Yukon gold project in the Sixtymile placer district and New Brenda is a copper-silver-molybdenum porphyry project in British Columbia's Quesnel terrane.

We seek Safe Harbor.