Mr. Reagan Glazier reports

NEOTECH METALS ANNOUNCES CLOSING OF ITS LIFE FINANCING

Further to the news release of Sept. 26, 2024, Neotech Metals Corp. has closed its listed issuer financing exemption financing.

Under the offering, the company issued 9,009,665 units of the company, at a price of 15 cents per unit, for gross proceeds of $1,351,450, with each unit composed of one common share and one share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of 25 cents for a period of three years.

The LIFE offering was completed pursuant to the LIFE, and accordingly, the securities issued in the LIFE offering are not subject to a hold period, in accordance with applicable Canadian securities laws.

The company paid finders' fees of $31,061 and 207,072 finders' warrants to certain finders in connection with the sale of units. The finders' warrants are subject to a hold period of four months and one day from the date of issue.

The warrants will be subject to an acceleration provision whereby, if, for any 10-consecutive-trading-day period, the closing price of the company's common shares exceeds 50 cents per share on the 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 net proceeds from the sale of the units will be used for exploration expenditures and corporate and general operating expenses.

The LIFE offering document is found at the Neotech website.

About Neotech Metals Corp.

Neotech 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 has a diversified portfolio including its new flagship project, Hecla-Kilmer, located 20 kilometres from the Otter Rapids 180-megawatt hydroelectric power generation station and active Ontario Northway railway. Hecla-Kilmer was recently acquired in July, 2024. The company also wholly owns its TREO and Foothills projects located in British Columbia.

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