Mr. Christopher Huggins reports

COLLECTIVE METALS ANNOUNCES CLOSING OF OVERSUBSCRIBED PRIVATE PLACEMENT FINANCING

Collective Metals Inc. has closed the oversubscribed non-brokered private placement of units of the company by the issuance of 5,728,381 units at 24 cents per unit for gross proceeds of $1,374,811.28.

Each unit consisted of one common share in the capital of the company and one whole common share purchase warrant. Each warrant entitles the holder to purchase one additional share at a price of 35 cents on or before June 23, 2025.

The company has paid eligible finders a cash commission in the amount of $92,400.81, being 7 per cent of the aggregate proceeds from the sale of units to purchasers introduced to the company by the finders, and issued an aggregate of 385,003 common share purchase warrants, being 7 per cent of the number of units sold under the offering to purchasers introduced by the finders. Each finder's warrant entitles the holder thereof to purchase one share at a price of 35 cents per share on the same terms as the warrants.

Christopher Huggins, chief executive officer of Collective Metals, announced: "The company received strong interest in this private placement and the oversubscription is a testament to our team. The company is in a strong cash position, which will not only allow us to further advance our existing properties, including our flagship property, the Princeton project, but also continue to pursue new acquisitions and opportunities."

All securities issued in connection with the offering are subject to a statutory hold period of four months and one day in accordance with applicable securities legislation ending on Oct. 24, 2023. The company will use the proceeds for its current properties, on new projects or acquisitions, marketing, and for working capital.

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 dioxide. 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.

We seek Safe Harbor.