Mr. Branden Haynes reports

BOLT METALS POSITIONED TO BENEFIT AS COPPER SET TO JOIN U.S. CRITICAL MINERALS LIST

Bolt Metals Corp. welcomes the recent passage of the Critical Mineral Consistency Act 2024 by the United States House of Representatives, which officially designates copper as a critical mineral. With Senate approval, this development should strengthen the strategic significance of Bolt Metals' Soap Gulch project in Montana and open up new opportunities to accelerate exploration and development.

The inclusion of copper on the U.S. critical minerals list reflects its essential role in powering the clean energy transition, electrifying transportation and supporting domestic manufacturing. This landmark decision would grant copper-focused projects eligibility for the FAST-41 permitting process, investment incentives and increased federal support -- all of which are pivotal to ensuring a stable, domestic copper supply chain.

"Copper's designation as a critical mineral underscores the growing recognition of its importance to both national security and the green energy future," said Branden Haynes, chief executive officer of Bolt Metals. "Our Soap Gulch project is well positioned to benefit from this shift, with its potential for additional copper discoveries in one of the more mining-friendly regions of the U.S."

Soap Gulch: a strategic asset for U.S. copper potential

Located in Montana, Soap Gulch offers favourable geology and historic copper occurrences, making it a prime target for exploration and development. Historical results at Soap Gulch, include:

• 1.2 per cent copper, 0.036 per cent cobalt and 200 ppb (parts per billion) gold over 11.7 metres of massive sulphides in DH WCC-4;
• Up to 4.7 per cent copper, 0.07 per cent cobalt and 2.3 g/t gold in trenches advanced by BHP-Utah.

As the U.S. seeks to reduce its reliance on foreign imports and address an anticipated global copper supply gap of nearly 10 million metric tons over the next decade, Bolt Metals' commitment to advancing Soap Gulch, could if successful, play a role in meeting domestic and international demand.

The Critical Mineral Consistency Act provides significant advantages for copper projects, including:

• Accelerated permitting: eligibility for the FAST-41 process to streamline project timelines and reduce regulatory hurdles;
• Investment incentives: opportunities for federal subsidies, grants and financing to support domestic mineral development;
• Enhanced national security: greater government focus on securing domestic supply chains, reducing reliance on foreign sources.

Growing demand for copper: a global opportunity

A recent report from BHP, the world's largest mining company, forecasts copper demand to grow at an average rate of 2.6 per cent annually through 2035, reaching over 50 million metric tons per year by 2050. This surge in demand is driven by copper's essential role in renewable energy, EVs (electric vehicles) and energy storage technologies.

Industry leaders have praised copper's inclusion as a critical mineral. Adam Estelle, chief executive officer of the Copper Development Association, stated: "This vote highlights copper's essential role in powering America's energy future, electrifying transportation, creating jobs and strengthening infrastructure. This is a significant win for U.S. manufacturing, the clean energy transition and our nation's global competitiveness."

About Bolt Metals Corp.

Bolt Metals is a forward-thinking company focused on discovering and developing high-grade copper and critical mineral assets in Tier 1 jurisdictions. Through a disciplined approach to low-cost M&A (merger and acquisition) and efficient project evaluation, the company leverages its in-house expertise and catalyst-driven priorities to unlock significant value in response to the growing demand for electrification and renewable energy. The company's flagship projects, Soap Gulch and Switchback, highlight the potential for high-grade discoveries that align with the energy transition.

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