Mr. Paul Gorman reports

REFLEX ADVANCED MATERIALS CORP. AMENDS NON-BROKERED PRIVATE PLACEMENT

Reflex Advanced Materials Corp. has amended the terms of its non-brokered private placement financing previously announced on Aug. 21, 2023. The private placement is now composed of up to five million units of the company at an updated price of 20 cents per unit for aggregate gross proceeds of up to $1-million.

Each unit continues to consist of one common share in the capital of the company and one-half of one share purchase warrant, whereby each whole warrant will entitle the holder thereof to purchase an additional share at an exercise price of 35 cents for a period of 24 months from the date of issuance.

Closing of the private placement, subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals, is anticipated to occur prior to the end of September, 2023. The net proceeds of the private placement are intended to be used to advance the company's Ruby graphite project and for other general corporate purposes. Finders' fees may be payable to eligible arm's-length persons with respect to certain subscriptions accepted by the company.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 (Prospectus Exemptions), the units issuable under the private placement will be offered for sale to purchasers resident in Canada and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A.2 of NI 45-106. Because the private placement is to be completed pursuant to the life exemption, the securities issued in connection with the private placement will not be subject to resale restrictions in accordance with applicable Canadian securities laws.

In connection with this announcement, there is an amended offering document dated Sept. 22, 2023, that can be viewed under the company's profile at SEDAR+ and on the company's website. Prospective investors should read this offering document before making an investment decision.

About Reflex Advanced Materials Corp.

Reflex is a mineral exploration company based in British Columbia. Its objective is to locate and, if warranted, develop economic mineral properties in the strategic metal and advanced material space. It is focused on improving domestic specialty mineral infrastructure efficiencies to meet surging national demand by North American manufacturers. The company is working to advance its Ruby graphite project, located in Beaverhead county, Montana, and its ZigZag property, located in Thunder Bay mining division, Crescent Lake area, Ontario.

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