Mr. Mark Ferguson reports

ARBOR METALS ACQUIRES CORVETTE LAKE AND ST. PIERRE PROPERTIES

Arbor Metals Corp. has acquired the Corvette Lake and St. Pierre properties, through the acquisition of all of the outstanding common share capital of Corvette Lake Lithium Corp., an arm's-length party. The properties are located in Eeyou Istchee Baie-James territory, Nord du Quebec region. The Corvette Lake property is composed of 16 contiguous claims totalling 821 hectares, and the St. Pierre property is composed of 20 contiguous claims totalling 1,026 hectors. The properties are situated approximately 20 kilometres south of the all-season Trans-Taiga gravel road. The acquisition of these properties completes the strategic positioning of Arbor in the Corvette deposit area.

The new exploration ground straddles an area of the Langelier complex identified as the oldest portion and deepest portion of crust. This assemblage of gneissic tonalite and granodiorite are both strongly deformed and metamorphosed. The southern contact corresponds to east-west regional faults that put in sheared and faulted contact gneisses with amphibolite and ultramafic units of the Rouget formation. Late tectonic granitic plugs were historically mapped in this corridor which runs in the property about four km east of Corvette Lake.

According to preliminary research, the property area has been the subject of limited documented exploration except regional mapping done by the Province of Quebec in 2021, and airborne geophysics works done in 2007 and 2008. The company believes this type of ground position, focusing on old batholith contacts in supra crustal rocks such amphibolite, could generate valuable exploration targets. The model to be tested on the field is based in part on the identification of pegmatite generation front across regional structures.

Transaction terms

The transaction was completed pursuant to the terms of a share purchase agreement entered into between the company, and the shareholders of CLL, dated Feb. 23, 2024. In accordance with the terms of the purchase agreement, the company acquired all 1,425,000 outstanding common shares of CLL in consideration for cash payments to the shareholders of CLL in the amount of 50 cents per share. No securities of the company are issuable in connection with the purchase agreement.

Following completion of the transaction, there remains a total of 50,000 outstanding performance-linked preferred shares of CLL which are not held by the company. The performance-linked preferred shares carry no voting rights. In the event the results of mineral exploration conducted on the Corvette Lake and St. Pierre properties demonstrates the existence of lithium mineralization the holder has the right to redeem the shares at a price of $100 per share.

The company is at arm's length from CLL, and each of the shareholders of CLL. No finders' fees or commissions are payable by the company in connection with completion of the transaction. In connection with purchase agreement, the company does not expect to assume any material liabilities related to the Corvette Lake and St. Pierre properties, nor does it expect to devote the majority of its working capital or resources to the development of the properties. At the time of completion of the transaction, CLL did not have any material liabilities and had working capital of approximately $270,000. The primary focus of the company at this time remains the continuing work program being conducted at its wholly owned Jarnet lithium project, as announced by the company on Feb. 7, 2024. As a result, the transaction does not constitute a fundamental acquisition for the company within the policies of the TSX Venture Exchange.

Qualified person

Martin Demers, PGeo, registered in the Provinces of Quebec (ogq No. 770), a consultant to Arbor and a qualified person under National Instrument 43 101 -- Standards of Disclosure for Mineral Projects, has reviewed the technical contents of this news release and has approved the disclosure of the technical information contained herein.

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.

The Jarnet, Corvette Lake and St. Pierre lithium projects, located in the James Bay region of Quebec, comprises 83 map-designated claims, covering an area of approximately 5,606 hectares. The projects are 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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