Mr. Mark Ferguson reports

ARBOR METALS PROVIDES UPDATE ON PRIVATE PLACEMENT

Arbor Metals Corp. has elected to revise the terms of further tranches of its continuing non-brokered private placement under the listed issuer financing exemption (as defined below). For further tranches of the offering, the company will offer units at a price of $1.25 per unit. Each unit will continue to consist of one common share of the company and one-half of one share purchase warrant. Each warrant will entitle the holder to purchase one additional share at a price of $2.00 at any time on or before the date which is 12 months following issuance.

The company has previously completed two tranches of the offering and has issued a total of 1.87 million units for gross proceeds of $2,805,000. The company intends to issue up to a further 1,756,000 units in connection with additional tranches of the offering for total gross proceeds from the offering of up to $5-million.

The units will continue to be issued and sold pursuant to the listed issuer financing exemption (as defined below) under Part 5A of National Instrument 45-106 -- Prospectus Exemptions. An amended and restated offering document under the listed issuer financing exemption dated Oct. 24, 2023, will be available electronically on SEDAR+ under the company's issuer profile and the company's website. Prospective investors should read the offering document before making an investment decision. Concurrently with the offering, the company intends to conduct a non-brokered private placement of up to 789,474 flow-through common shares at a price of $1.90 per FT share for gross proceeds of up to $1.5-million. Proceeds from the sale of FT shares will be used to incur Canadian exploration expenses as defined in Subsection 66.1(6) of the Income Tax Act which will qualify as flow-through critical mineral mining expenditures as defined in the Income Tax Act.

The units issued pursuant to the listed issuer financing exemption will not be subject to resale restrictions in Canada in accordance with applicable Canadian securities laws and the policies of the TSX Venture Exchange. The FT shares will be subject to resale restrictions for a period of four months and one day from the date of issuance. The company may pay finders' fees to eligible parties who have assisted in introducing subscribers to the offering and the placement of FT shares. Completion of further tranches of the offering, and the placement of the FT shares, remains subject to the approval of the exchange.

About Arbor Metals Corp.

Arbor Metals is a mining exploration company focused on developing high-value, geographically significant mineral projects worldwide. Arbor is paving the way for advanced mineral exploration as it oversees world-class mining projects. The company is confident that combining quality projects with proven strategies and a dedicated team will yield exceptional outcomes. Arbor currently oversees three outstanding mineral projects. The Jarnet lithium project, located in the James Bay region of Quebec, comprises 47 map-designated claims, covering an area of approximately 3,759 hectares. The Jarnet project is contiguous to the Corvette-FCI property, where diamond drilling has confirmed significant lithium mineralization, representing one of the highest-profile lithium exploration projects in the sector.

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