Vancouver, British Columbia--(Newsfile Corp. - September 26, 2024) - Neotech Metals Corp. (CSE: NTMC) (OTC Pink: NTMFF) (FSE: V690) ("Neotech" or "the Company") is pleased to announce that, in partnership with SGS Laboratories ("SGS"), metallurgical testing has commenced on our flagship Hecla-Kilmer ("H/K") property. The testing aims to assess the economics of an expanded drill campaign that integrates the apatite-hosted rare earth mineralization, niobium-related mineralization and overall phosphate recoveries to help advance the project.

This first-phase trial will focus on evaluating the project's metallurgical response to a variety of flowsheets, including gravity, flotation, and magnetic separation methods. The analysis will consider potential recoveries, liberation, beneficiation components, and other variables, progressing the project to its next milestone.

LIFE Offering

The Company announces that it has filed a new non-brokered private placement LIFE financing (the "Offering"). This replaces the LIFE offering initially announced on June 24, 2024 and amended on August 13, 2024. The total proceeds include a minimum of $1,350,000 and up to a maximum of $2,500,000, consisting of a minimum of 9,000,000 units of the Company (the "Units") and up to a maximum of 16,666,667 Units at a price of $0.15 per Unit. Each Unit will be comprised of one common share in the authorized share structure of the Company (each, a "Common Share") and one Common Share purchase warrant (a "Warrant") of the Company. Each Warrant entitles the holder to purchase one additional Common Share (a "Warrant Share") of the Company at a price of $0.25 per Warrant Share for a period of 36 months from the date of issuance.

The Warrants will be subject to an acceleration provision whereby, if for any 10 consecutive trading days the closing price of the Company's common shares (the "Shares") exceeds $0.50 per Share on the Canadian Securities Exchange, the Company may announce by way of news release that the expiry date of the warrants will be accelerated to 30 days thereafter.

The Company may compensate certain finders with a cash commission of up to 7% of the aggregate gross proceeds raised from the Offering and issue finder's warrants equivalent to 7% of the total Units subscribed under the Offering.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"), the Units issuable under the Offering will be offered for sale to purchasers resident in all of the provinces of Canada (except Quebec) pursuant to the listed issuer financing exemption under Part 5A.2 of NI 45-106. Pursuant to NI 45-106, the securities issued to Canadian resident subscribers under the Offering will not be subject to resale restrictions.

The net proceeds from the sale of the Units will be used for exploration expenditures and corporate and general operating expenses. There is an offering document related to this Offering that can be accessed under the Company's profile at Sedarplus.ca and on the Company's website at https://neotechmetals.com/. Prospective investors should read this offering document before making an investment decision.

Reagan Glazier, CEO stated, "This is a pivotal moment for the Company as we continue to develop the H/K Rare-Earth project. We're looking forward to the unique opportunity presented by the Apatite-hosted REE's and how they may differ from the typical Monazite-hosted deposits of North America. We're excited to look at the heavy-REE components of H/K which present high-value opportunities. The results will help us direct our focus on upcoming drill campaigns, allowing us to discover and address any unknowns and challenges that may arise."

About the Neotech Metals

Neotech Metals Corp. is a mineral exploration company dedicated to discovering and developing valuable mineral resources within promising jurisdictions 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.

Its new flagship, Hecla-Kilmer located 20 km from the Otter Rapids 180MW hydroelectric power generation station and active Ontario Northway railway, was recently acquired in July 2024, along with its TREO and Foothills projects located in British Columbia. All three projects are 100% wholly owned.

Qualified Person

Technical Information for this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101. Jared Galenzoski VP Exploration, P.Geo., and Qualified Person, has reviewed and approved all of the data and statements made for this news release.

Forward-Looking Statements

Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will", "will be" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are from those expressed or implied by such forward-looking statements or forward-looking information subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different, including receipt of all necessary regulatory approvals. Although management of the Company have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

The CSE has not reviewed, approved, or disapproved the contents of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/224643