Mr. Christopher Huggins reports

COLLECTIVE METALS ANNOUNCES SOIL SAMPLING PROGRAM AT ITS PRINCETON CU-AU PROJECT IN SOUTHEASTERN BRITISH COLUMBIA

Collective Metals Inc. has planned a soil sampling program at its Princeton copper project, which is scheduled to begin next week. The company is undertaking an exploration program on the project, located in south-central British Columbia (see news release dated May 9, 2023), directly west of the currently producing Copper Mountain mine, which hosts a proven and probable mineral reserve of 702 million tonnes of 0.24 per cent copper. The project emphasizes exploration for one (or more) copper-gold alkalic porphyry centres and hosts documented Minfile occurrences similar to Copper Mountain's deposit.

Christopher Huggins, chief executive officer, stated: "With the initial field visits successfully completed, the geological team believes this soil sample program will provide key insights that will drive our future drilling program. We look forward to further exploration of the anomalies that are presented in the magnetic surveys which indicate similar geology to the Copper Mountain deposit."

The program will consist of approximately 500 Ah horizon soil samples collected on multiple northeast-southwest-directed soil lines extending from the Trojan Minfile occurrence northwest to the Condor 3-D IP (induced polarization) geophysical anomaly. The soil lines have been proposed to cover IP and ground magnetic surveys, which have identified high-priority areas of interest. A map of the magnetic susceptibility results from a ground magnetic survey completed in 2012 documents lower-intensity magnetic results in the area of the proposed survey.

There are some anomalies that will be the key focus of the soil sampling program, which is expected to be completed in the coming weeks. The soil lines are more closely spaced over the higher-priority areas such as the Trojan Minfile occurrence and magnetic anomalies, with wider spacing elsewhere on the grid. The soil lines are intended to return geochemical results with which to further evaluate the anomalies currently identified within the Trojan-Condor corridor, including geochemical, radiolithic, magnetic and induced polarization.

In detail, both a magnetic high and immediately adjacent magnetic low are evident underlying the Trojan surface geochemical anomaly (and Minfile occurrence). These two anomalies are, in turn, enveloped in a weaker magnetic halo, except to the north. In contrast, the Condor anomaly is defined on the basis of chargeability and, as a result, is not evident on the magnetic map.

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 National Instrument 43-101.

About Collective Metals Inc.

Collective Metals is a resource exploration company specialized in precious metal 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 is located in Northwestern Ontario, where numerous lithium deposits have been delineated to host significant reserves of Li2O (lithium oxide). The Landings Lake lithium project is located 53 kilometres east of Ear Falls, Ont., and covers 3,146 hectares.

Collective Metals is also advancing the Uptown gold project four kilometres 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, Northwest Territories. 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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