Mr. Reagan Glazier reports

NEOTECH METALS TO ACQUIRE A 100% INTEREST IN THE HECLA-KILMER PROJECT FROM VR RESOURCES LTD.

Neotech Metals Corp. has signed a non-binding LOI (letter of intent) on Feb. 12, 2024, with VR Resources Ltd., a TSX Venture Exchange-listed company, pursuant to which Neotech will have the right to acquire a 100-per-cent interest in the rare-earth element (REE), niobium and phosphate project in Northeastern Ontario, with such right being exercisable through the issuance by Neotech of four million common shares over 30 months, to be priced at the company's then market price, and the payment of $1-million.

Reagan Glazier, chief executive officer of Neotech Metals, commented: "The acquisition of Hecla-Kilmer is highly strategic to Neotech, as it solidifies the company's position in the REE and critical metals sector, adding both a significant, high-quality REE discovery with demonstrated potential, and a large, prospective land package with significant upside potential. Neotech is advancing a multitrack agenda of aggressive exploration and strategic REE district consolidation, and this transaction represents an important step in our path forward."

Project highlights

Hecla-Kilmer is an early-stage exploration project supported by world-class infrastructure. Situated in Northern Ontario, just 23 kilometres from the Otter Rapids hydroelectric power generating station, along with active rail and highways, making for cost-effective field programs, the project is poised for additional drilling and discovery.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Ike Osmani, PGeo, a consultant of the company who is a qualified person as defined in National Instrument 43-101.

About Neotech Metals Corp.

Neotech Metals is a mineral exploration company dedicated to discovering and developing valuable mineral resources in promising regions around the world. With a strong commitment to environmental stewardship and sustainable practices, Neotech is positioned to make a positive impact while maximizing the potential of its exploration properties.

The company is a mineral exploration company based in Vancouver, B.C., and owns 100 per cent of its Treo rare earth element property, located 90 km northeast of Prince George, B.C., and 100 per cent of its Foothills rare earth element property located in central British Columbia. The company also holds options on the EBB nickel-cobalt property in British Columbia, Canada.

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