Ms. Wanda Cutler reports

CANADIAN METALS ANNOUNCES EFFECTIVE DATE FOR 5:1 SHARE CONSOLIDATION

Canadian Metals Inc., further to its news releases dated Dec. 13, 2022, and April 24, 2023, will implement the consolidation of all its issued and outstanding common shares in its share capital on a basis of one postconsolidated common share for every five preconsolidated common shares. The consolidation has been approved by the shareholders of the corporation via a special resolution at the annual general and special meeting held on May 17, 2023.

The corporation's postconsolidation shares will commence trading under the same stock symbol CME, new Cusip No. 136369 40 2 and new ISIN CA 136369 40 2 9 on the Canadian Securities Exchange at the market open on or about April 22, 2024, as permitted by the CSE.

Prior to the consolidation, the corporation had 156,121,011 preconsolidation shares issued and outstanding. Following the consolidation, the corporation will have approximately 31,224,204 postconsolidation shares issued and outstanding. No fractional common shares will be issued in connection with the consolidation. In the event a shareholder would otherwise be entitled to receive a fractional postconsolidation share, the fractional postconsolidation share shall be rounded up or down to the closest whole number postconsolidation share.

A letter of transmittal is being mailed to registered shareholders with instructions on how to exchange old share certificates for new share certificates of the corporation.

The exercise or conversion price, and the number of common shares issuable under any of the corporation's outstanding convertible securities, if any, will be proportionately adjusted upon the effectiveness of the consolidation.

About Canadian Metals Inc.

Canadian Metals is a diversified resource company focused on creating shareholder value through the development of large-scale mineral deposits in specific commodities and safe jurisdictions. The company currently has 28,822 hectares of highly prospective land in New Brunswick, Canada, and the projects are within and bordering the prolific Bathurst mining camp (BMC), and are 100 per cent owned. The properties cover a range of geological target types, including VMS (volcanic massive sulphide) style, structurally controlled gold, porphyry copper-gold-molybdenum and skarn lead-zinc-copper-silver mineralization.

We seek Safe Harbor.