Mr. Mason Granger reports

SUPERNOVA ANNOUNCES LETTER OF INTENT WITH OREGEN

Supernova Metals Corp. has entered into a non-binding letter of intent (LOI), dated May 4, 2025, with Oregen Corp., an arm's-length party established under the laws of the Republic of Seychelles, to review a potential acquisition of a further 36.0-per-cent interest in WestOil Ltd. WestOil is a privately held company established under the laws of the Republic of Seychelles, which controls a 70.0-per-cent interest in block 2712A, located offshore of Namibia in the Orange basin. The company currently controls a 12.5-per-cent equity interest in WestOil through its subsidiary, NamLith Resources Corp.

Pursuant to the terms of the letter of intent, it is contemplated that the company would acquire all of the outstanding share capital of an affiliated company of Oregen (Subco), which will hold the 36.0-per-cent equity interest in WestOil. Upon successful completion of the transaction, the company would own a total 48.5-per-cent equity interest in WestOil.

Readers are cautioned that the letter of intent does not bind the company to complete a transaction, nor have final terms for a transaction been determined yet. Completion of the proposed acquisition of Subco remains subject to a number of conditions, including, but not limited to, completion of due diligence, negotiation of definitive documentation and the receipt of any required regulatory approvals. The acquisition cannot be completed until these conditions are satisfied, and there can be no assurance that the acquisition will be completed at all.

The company will provide further information regarding the potential acquisition of Subco in the event it elects to move forward with the transaction.

About Supernova Metals Corp.

Supernova is an energy and resource exploration company focused on acquiring and advancing natural resources opportunities globally. The company is exploring its rare earth project in Labrador, as well as holding an 8.75-per-cent indirect ownership interest in block 2712A, located in the Orange basin, offshore Namibia.

We seek Safe Harbor.