Mr. Sam Pazuki reports

AUMEGA ANNOUNCES COMMENCEMENT OF ITS WINTER DRILL PROGRAM AT BUNKER HILL

Aumega Metals Ltd. has started its 2025 winter drill program at Bunker Hill, located along the Cape Ray/Valentine shear in south-central Newfoundland and Labrador, Canada.

Aumega Metals' managing director and chief executive officer, Sam Pazuki, commented: "We are excited to kick off our winter drill program at Bunker Hill. This comes following a short delay due to inclement weather that prevented the safe start-up of drilling activities. Despite the brief, weather-related delay, we've adapted by launching with diamond drilling and mobilizing a second rig to stay on track with our high-priority targets. RC [reverse circulation] drilling will follow soon, focusing on basal till/bottom-of-hole in key areas.

"At this stage, our winter program remains on course for approximately 10,000 metres of drilling, with final totals depending on results and weather. We are initially drilling targets at Nitty Gritty, the site of our high-grade copper and silver outcropping samples that we previously reported. Drilling will then move to Bunker Hill West, the site of historic high-grade gold samples in outcrop and where the company's recent geophysical survey highlighted significant structural complexity. We anticipate assay results from drill core and RC rock chips to start arriving by mid-to-late March and regularly well into the second quarter of 2025 as our program progresses."

About Aumega Metals Ltd.

Aumega Metals is utilizing best-in-class exploration to explore on its district-scale land package that spans 110 kilometres along the Cape Ray shear zone, a significant, underexplored geological feature recognized as Newfoundland's largest identified gold structure. This zone currently hosts Calibre Mining's Valentine gold project, which is the region's largest gold deposit (greater than five million ounces), along with Aumega's expanding mineral resource.

The company is supported by a diverse shareholder registry of prominent global institutional investors, and a strategic investment from B2Gold Corp., a leading, multimillion-ounce-a-year gold producer.

Additionally, Aumega holds a 27-kilometre stretch of the highly prospective Hermitage flexure and has also secured an option agreement for the Blue Cove copper project in southeastern Newfoundland, which exhibits strong potential for copper and other base metals.

Aumega's Cape Ray shear zone hosts several dozen high-potential targets, along with its existing defined gold mineral resource of 6.1 million tonnes of ore grading an average of 2.25 grams per tonne gold, totalling 450,000 ounces of indicated resources, and 3.4 million tonnes of ore grading an average of 1.44 g/t gold, totalling 160,000 ounces in inferred resources.

Aumega acknowledges the financial support of the Junior Exploration Assistance Program, Department of Industry, Energy and Technology, provincial government of Newfoundland and Labrador, Canada.

Competent person's statement

The information contained in this release that relates to exploration results is based upon information reviewed by Rick Greenwood, PGeo, vice-president of exploration for Aumega Metals. Mr. Greenwood is a member of the Professional Geoscientists of Ontario (PGO) and has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration, and to the activity which he is undertaking to qualify as a competent person, as defined in the JORC (Joint Ore Reserve Committee) Code 2012. Mr. Greenwood consents to the inclusion in the release of the matters based upon the information in the form and context in which it appears.