Mr. Christopher Huggins reports

COLLECTIVE METALS INITIATES EXTENSIVE DATA COMPILATION PROJECT FOR ITS PRINCETON COPPER PROJECT

Collective Metals Inc. has further commenced compilation of existing data to guide future work during its 2023 exploration program on the Princeton project in southwest Princeton, B.C.

The project and surrounding area have had extensive historic work completed in the area, which has included the development and exploitation of coal, more limited work on various industrial minerals (primarily bentonite and zeolites), and extensive placer operations for gold and platinum along the Tulameen River and several of its tributaries. Modern exploration data emphasized exploration and evaluation of copper-gold porphyry potential, more specifically, alkalic Cu-Au porphyries of which Copper Mountain is the best local example and the deposit model for the program.

Christopher Huggins, chief executive officer of Collective Metals, commented: "With a vast amount of historic and prior operator work continuing to be compiled, the insights gained are very valuable to our evolving exploration plan. This compilation work provides excellent value for shareholders and helps us focus our efforts to quickly advance the project."

There are approximately 35 assessment reports filed for previous tenures now covered by the current project, with an additional nine reports partially covered by the current project. The total amount of assessment work recorded in these reports totals over $2-million. Work documented in these reports includes, but is not limited to:

• Silt, soil and rock geochemical analyses;
• Limited biogeochemistry;
• Mobile metal ion (MMI) analyses;
• Limited trenching;
• Airborne geophysical surveys, including electromagnetic, magnetic and radiometric results;
• Ground magnetic, 3-D induced polarization and very-low-frequency (VLF) surveys, ground radiometric (radiolytic) surveys;
• Limited initial diamond drilling in the Trojan-Condor corridor.

The British Columbia Geological Survey branch (BCGSB) has completed:

• Geological summaries of the Princeton and Tulameen basins;
• 1:50,000 scale mapping over much of the project area, both north and south of the Tulameen River;
• Limited magnetic susceptibility surveys (for comparison with the Copper Mountain mine and camp);
• Analyses for regional geochemical survey (RGS) silt samples;
• Geochronological (age dating) data as part of the Southern Nicola Arc project (SNAP).

Geoscience BC has completed several projects for the Quest South survey area, which includes some of the project area. Studies completed include:

• An airborne gravity survey;
• 3-D inversion of the above gravity and magnetic data;
• Additional RGS data and reanalysis.

Studies completed by the BCGSB and Geoscience BC, together with airborne magnetic surveys by the Geological Survey of Canada, are estimated to total approximately $1.5-million, providing a database valued at approximately $3.5-million for the project. There are also numerous amounts of more general articles published by the BCGSB on the Tulameen ultramafic-mafic complex to the west (specifically about the alkalic Cu-Au belt and potential comparable intrusions, having analogous alteration and/or mineralization). The most important and pertinent part of these are the references to Kodiak Copper's MPD property, comprising the exploration model of the project, located approximately 27 kilometres to the north-northeast. Together, the data and information are estimated to contribute approximately $4-million of value to the project.

Consulting agreement

In addition, the company is pleased to announce that it has engaged Media One AG (MOAG) as a consultant to provide, on a non-exclusive basis, a range of services, including introducing the company to strategic corporate and media partners, assisting in the development of corporate materials for potential partners, assisting in the preparation of capital structure and valuation materials, and identifying acquisition and investment opportunities. The services will be provided for a term of six months beginning July 4, 2023. MOAG shall receive aggregate cash consideration in the sum of 500,000 euros for the term of the consulting agreement. This collaboration aims to enhance the company's market presence and foster growth opportunities.

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.

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

About Collective Metals Inc.

Collective Metals is a resource exploration company specializing 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 km 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 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.