Mr. Christopher Huggins reports

COLLECTIVE METALS COMMISSIONS DERRICK STRICKLAND TO COMPLETE NI 43-101 TECHNICAL REPORT ON ITS PRINCETON COPPER PROJECT & ANNOUNCES A PRIVATE PLACEMENT

Collective Metals Inc. has contracted Derrick Strickland, PGeo, to complete a technical report in accordance with National Instrument 43-101 on the Princeton project in southwest Princeton, B.C.

Mr. Strickland is a graduate of Concordia University of Montreal, Que., with a BSc in geology, 1993. He has been practising his profession continuously since 1993 and has been working in mineral exploration since 1986 in gold, precious, base metal and coal mineral exploration. Mr. Strickland has worked throughout Canada, United States, China, Mongolia, South America, Southeast Asia, Ireland, West Africa, Papua New Guinea and Pakistan.

The purpose of the report is to provide a comprehensive update on the flagship project including all available data that the company has put together. The updated National Instrument 43-101 will also offer valuable insights by compiling existing data, previous work and new technology to better guide future programs.

The company's flagship project is easily accessible by road and is located immediately west of Highway 3 south of Princeton, B.C., in a well-established mining district with excellent infrastructure, a local work force and support services. The project hosts potential for identification of one (or more) copper-gold alkalic porphyry occurrences similar in age and deposit type to the Copper Mountain mine. The project is also approximately 10 kilometres west of Copper Mountain Mining Corp.'s currently producing Copper Mountain mine, which hosts a proven and probable mineral reserve of 702 million tonnes of 0.24 per cent copper.

Christopher Huggins, chief executive officer of Collective Metals, commented: "We are very excited about the potential of our Princeton project and pleased to work directly with Derrick to complete the report on the entire project. The report underscores Collective's commitment to providing stakeholders with accurate and reliable information."

Private placement

Collective Metals also announces that it intends to complete a best efforts non-brokered private placement financing of up to 3,125,000 units at a price of 24 cents per unit for gross proceeds of up to $750,000. Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share of the company at an exercise price of 35 cents for a period of 24 months from the date of issuance. All securities issued in connection with the offering will be subject to a statutory hold period of four months and one day. The closing of the offering is anticipated to take place on or about June 26, 2023, or such other date as the company may agree. The closing is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Canadian Securities Exchange.

Qualified person

This news release has been reviewed and approved by Rick Walker, PGeo, who is acting as the company's qualified person for the Princeton property project, in accordance with regulations under NI 43-101.

The information disclosed is not necessarily indicative of mineralization on the Princeton project.

About Collective Metals Inc.

Collective Metals is a resource exploration company specialized in precious metals exploration in North America. The company's flagship property is the Princeton project, located in south-central British Columbia, Canada, approximately 10 kilometres west of the currently producing Copper Mountain mine. The Princeton project consists of 29 mineral tenures totalling approximately 28,560 hectares (70,570 acres) in a well-documented and prolific copper-gold porphyry belt and is easily accessible by road, located immediately west of Highway 3.

The company's Landings Lake lithium project, which is located in Northwestern Ontario where numerous lithium deposits have been delineated to host significant reserves of lithium oxide. The Landings Lake lithium project is located 53 km east of Ear Falls, Ont., and covers 3,146 hectares.

Collective Metals is also advancing the Uptown gold project four km outside of Yellowknife, adjacent to several high-grade past-producing mines. The Uptown gold property is a high-grade Archean lode gold prospect adjoining the Giant mine in Yellowknife, NWT. The property consists of four claims covering over 2,000 hectares and borders the west side of the Giant mine leases.

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