Mr. Julien Davy reports

CANADIAN METALS INITIATES DRILL PROGRAM AND UPDATE ON THE COMPREHENSIVE RE-EVALUATION REVIEW ACROSS ITS NEW BRUNSWICK PROPERTIES AND GRANTS OPTIONS

Canadian Metals Inc. has commenced an approximately 3,200-metre drill program targeting several high-priority areas and provide an update on the continuing comprehensive technical review and re-evaluation of its five 100-per-cent-owned mineral properties located within the prolific Bathurst mining camp (BMC) in northern New Brunswick. The company's immediate focus is on the adjacent Nicholas-Denys and Goldstrike projects, which together cover a 10-kilometre section of the regional Rocky Brook-Millstream deformation zone (RBMDZ), a 40-kilometre structural corridor hosting numerous high-grade gold, silver, lead, zinc and copper occurrences.

High-grade targets across Nicholas-Denys and Goldstrike

The position of the Nicholas-Denys and Goldstrike properties is unique. They are located along the regional corridor RBMDZ, corresponding to the north edge of the prolific BMC, a worldwide known volcanic massive sulphide (VMS) camp that produced 179 million tonnes at 7.91 per cent zinc, 93.9 grams per tonne silver, 0.47 per cent copper and 3.12 per cent lead between 1957 and 2013, mostly from underground mining. That position explains the dozens of high-grade occurrences and multiple mineralization styles of both properties, including:

1. Epithermal-type veins enriched in zinc, silver, gold and lead;
2. High-grade silver skarns;
3. Quartz-carbonate gold veins and stockworks;
4. Porphyry-style copper and molybdenum.

Past public reports returned attractive exploration results as:

• 204 g/t Ag, 1.3 per cent Zn, 1.0 per cent Pb and 0.86 g/t Au over 16.8 m (Hachey, drill hole F07-15), including 1,513 g/t Ag, 10.1 per cent Zn, 7.3 per cent Pb and 7.4 g/t Au over 3.4 m;
• 2,590 g/t Ag and 0.7 g/t Au (Raya, grab samples);
• 4,512 g/t Ag and 4.1 g/t Au (Great Northern, grab samples);
• 1,734 g/t Ag, 11.4 per cent Zn and 14.4 per cent Pb (Millstream 1, grab samples) ;
• 3,590 g/t Ag, 90.8 g/t Au, 27 per cent Zn and 80.6 per cent Pb (Dante, grab samples);
• 507 g/t Ag, 0.3 per cent Zn, 0.5 per cent Pb, 4.7 g/t Au and 1.3 per cent Cu over 3.8 m (Lavigne Brook, trench).

Systematic exploration approach using modern technologies

The new management team has initiated an extensive compilation and reassessment of historical exploration data, which includes more than 500 diamond drill holes, 200 trenches, numerous soil surveys, and multiple airborne and ground geophysical programs. The objective is to establish updated exploration priorities and develop a modern, coherent geological model.

A central component of this program is hyperspectral core scanning of approximately 20,000 metres of the 50,000 metres of archived historical drill core available. This modern data set will support a more consistent interpretation across multiple generations of exploration work.

"Our objective is to build a coherent geological model that leverages modern technology to unlock the full potential of our projects," said Julien Davy, chief executive officer of Canadian Metals. "We are fortunate to have an extensive database of historical work, and tools like hyperspectral core scanning allow us to reinterpret this information with a consistent, modern lens. What makes this technology truly powerful is the speed and depth of information it provides -- it enables us to extract more geological insights in less time, accelerating our understanding and decision making."

New Brunswick's policy of enabling exploration companies to return drill core once it is no longer needed has enabled the creation of a highly valuable provincial core library. This long-term public archive significantly benefits explorers working in New Brunswick, such as Canadian Metals.

The company has contracted LithologIQ, a Montreal-based technology company specializing in advanced hyperspectral imaging, machine-learning interpretation and mineralogical modelling. Approximately 18,000 m of the planned 20,000 m have already been scanned, with completion expected within a few days.

This approach will provide consistent, quantitative mineralogical data across multiple drill campaigns and target areas. This modern and reliable technology will serve as an essential tool to integrate and homogenize decades of historical exploration data originally collected by various companies targeting different commodities since the 1950s.

Drilling program under way

Canadian Metals has received all necessary permits and is initiating an approximately 3,200-metre drilling program focused on three key targets:

1. Hachey zone (Nicholas-Denys property):
   • High-grade silver epithermal system;
   • Hosts a historical National Instrument 43-101 mineral resource estimate of:
     • 181,410 tonnes at 4.45 per cent zinc equivalent (indicated);
     • 167,050 tonnes at 3.22 per cent zinc equivalent (inferred);
2. Caribou Road occurrence (Sedex property -- west side):
   • Historical antimony target drilled by Noranda in 1989 and returned:
     • 2.05 per cent Sb over 3.3 m (trench);
     • 13.6 per cent Sb over one m (drill, approximately 50 m below);
3. Millstream zones (Nicholas-Denys property):
   • Epithermal vein system similar to Hachey;
   • Hosts unexplained geophysical anomalies.

Drilling is expected to start around Dec. 5, 2025, pause for year-end and resume in early January. The program is expected to conclude by early February.

Grant of options

Canadian Metals also announces that it has granted 750,000 stock options to Mr. Davy, chief executive officer of the company, pursuant to the company's stock option plan. The options, subject to the terms of the plan, are exercisable at a price of 26.5 cents per common share of the company for a period of five years.

Qualified persons and technical notes

Julien Davy, PGeo, MSc, MBA, chief executive officer of Canadian Metals and a qualified person under NI 43-101, Standards of Disclosure for Mineral Projects, has reviewed and approved the technical information contained in this news release.

All quoted drill core and rock samples results were compiled from historical assessment and government reports obtained from the government of New Brunswick. The qualified person has not completed sufficient work to validate these historical results.

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 key commodities and safe jurisdictions. The company currently holds over 250 square kilometres of highly prospective land in New Brunswick, Canada. These projects are located within and adjacent to the Bathurst mining camp (BMC) and are 100 per cent owned. The properties cover a range of geological target types typical of the Appalachian orogenic environment, including silver-lead-zinc VMS (volcanogenic massive sulphide), structurally controlled gold, porphyry copper-gold-molybdenum, antimony-gold-arsenic associated with intrusions and skarn-type lead-zinc-copper-silver mineralization.

We seek Safe Harbor.