Mr. Arnab De reports

CANADIAN METALS ANNOUNCES SHARES FOR DEBT SETTLEMENTS

Further to the press release dated Aug. 19, 2025, announcing the entry into certain debt settlement agreements, Canadian Metals Inc. has closed such shares-for-debt transactions, resulting in the aggregate issuance of 4,395,542 common shares in the capital of the company at a deemed price of 24 cents per debt share. The debt shares were issued in consideration for settling an aggregate principal debt amount of $1,054,932 owing by the corporation to holders of the debentures (as defined herein).

The outstanding debt and corresponding share settlement figures that were previously disclosed in the initial press release incorrectly reflected the initial principal amount of the debt as of the date of the issuance of the debentures, versus the actual outstanding principal amount of the debt as of the date of the shares for debt agreements that was to be settled. The remaining accrued interest owing pursuant to the debentures will be settled by a cash payment.

The indebtedness relates to outstanding principal owing regarding previously issued unsecured convertible debentures of the corporation issued on Dec. 18, 2020.

All common shares issued in connection with the debt settlement are subject to a statutory four-month-and-one-day hold period in accordance with the policies of the Canadian Securities Exchange and applicable securities laws.

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.