Mr. Meredith Eades reports

ERANOVA METALS ANNOUNCES $600,000 NON-BROKERED PRIVATE PLACEMENT

Eranova Metals Inc. has arranged a non-brokered private placement of up to four million common shares of the company at a price of 15 cents per common share for gross proceeds of up to $600,000.

The company intends to use the net proceeds from the private placement to support continuing technical work and completion of the National Instrument 43-101-compliant preliminary economic assessment (PEA) on the Adanac molybdenum project, alongside marketing and investor awareness initiatives, and for general working capital purposes.

"Closing this financing is a significant step forward that allows us to finalize the completion of our preliminary economic assessment, moving Eranova one step closer to proving the economic foundation of our flagship Adanac molybdenum project," stated Meredith Eades, president and chief executive officer. "With our treasury bolstered, we are now fully funded to deliver this critical value-driving milestone, unlocking further potential for our shareholders into 2026."

The Ruby Creek property hosts the Adanac molybdenum project alongside a growing pipeline of high-grade copper, gold, silver, tungsten and rare earth element targets across the broader district-scale property.

It is anticipated that certain directors, officers or other insiders of the company may acquire common shares under the private placement. Such participation will be considered a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, adopted in the policy. The company intends to rely 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 private 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 involves related parties, is expected to exceed 25 per cent of the company's market capitalization (as determined under MI 61-101).

Closing of the private placement is expected to occur as soon as practicable and may take place in one or more tranches. In connection with the private placement, the company may pay finders' fees in cash of up to 7 per cent of the gross proceeds from the sale of the common shares placed by the finders in accordance with the policies of the TSX Venture Exchange.

The private placement is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. All securities issued under the private placement will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws.

About Eranova Metals Inc.

Eranova Metals is a Canadian mineral exploration and development company focused on advancing a portfolio of precious and base metal assets across Western Canada.

The company's flagship asset is the 29,700-hectare Ruby Creek property near Atlin, B.C., which hosts the Adanac molybdenum project -- a development-stage deposit currently advancing toward a National Instrument 43-101-compliant preliminary economic assessment (PEA) -- alongside a growing pipeline of high-grade copper, gold, silver, tungsten and rare earth element targets across the broader district-scale property.

Eranova also holds a 100-per-cent interest in both the Big Ledge zinc project, located south of Revelstoke, B.C., and the South Thompson nickel project in Manitoba.

We seek Safe Harbor.