Mr. Christopher Huggins reports

COLLECTIVE METALS DISCUSSES GEOPHYSICAL RESULTS FOR ITS PRINCETON COPPER PROJECT

Collective Metals Inc. has discussed geophysical results acquired by a previous operator and implications for its Princeton project in southwest British Columbia.

The exploration targets for the Project are multiple Alkalic Cu-Au porphyry associated with Triassic age diorite intrusions similar to that being currently mined at Copper Mountain, located approximately 10 km east which represents the deposit model for the Project. Our exploration model resembles the model used at Kodiak Copper's MPD property, located approximately 30 km to the north-northeast. Documented mineralized occurrences are present within, and adjacent to, our Project, supported by a wealth of information acquired by previous operators, the BC Geological Survey Branch and Geoscience BC (see News Release dated July 5, 2023).

Kodiak Copper has demonstrated the benefit and cost effectiveness of 3D IP surveys in identifying and delineating new subsurface targets associated with their project. A 3D IP survey was completed by the previous operator on the Trojan - Condor Corrido in our current Project area, a comparatively small area in the central portion of the property underlying several showings and the Trojan (092HSE267) and NEV MINFILE (092HSE112) occurrences.

Chris Huggins, Chief Executive Officer of Collective, commented, "The results of the Geophysical data provide great insights and allows Collective to compare the Princeton Project's geophysics to Kodiak's and Copper Mountain's. The Company will use this data along with our other programs to develop high priority targets for drilling."

The eastern portion of the survey is concealed by Princeton Group cover, which hinders identification of geophysical anomalies. Despite that, several anomalies were identified (Fig. 1). These results indicate that additional potential targets of interest are present below the Princeton Group cover sequence underlying the east side of the survey area.

The most significant features of interest from this limited survey are the highly prominent Bolas and Condor anomalies (Fig. 1 and 2) underlying the west side of the survey area. The very strong Condor geophysical anomaly extends from surface to a depth of at least 500m (the interpreted limit of reliable signal penetration with depth) and is associated with surface mineralization. The adjacent Bolas anomaly increases in intensity with depth, associated with surface mineralization. The three nodes evident at shallow depth (i.e., 50 m; Fig. 1) progressively merge with depth into a strong geophysical anomaly similar to the Condor.

The interpretation of the previous operator was that the 3D IP geophysical anomalies represent an increased proportion of sulphides related to spatially associated diorite intrusions. A large number of subsurface geophysical anomalies are present, ranging from weak through moderate to the very strong Bolad and Condor anomalies. Furthermore, our interpretation indicates strong potential for identification of sulphide mineralization, including copper sulphides, as documented by surface soil and rock geochemical results. Ultimately, the presence of multiple mineralized showings, as documented by the previous operator and MINFILE occurrences, is interpreted to indicate potential for multiple, mineralized porphyries associated with the large, spatially associated, high intensity magnetic anomaly (see News Release dated May 10, 2023). In summary, the Princeton Project is interpreted to host a sub-surface, potentially mineralized intrusive complex similar to that exposed at Copper Mountain (see News Release dated August 1, 2023).

The Company's Flagship Project is easily accessible by road and is located immediately west of Highway 3 south of Princeton, BC, in a well-established mining district with excellent infrastructure, a local workforce 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 km west of Copper Mountain Mining Corporation's currently producing Copper Mountain Mine, which hosts a Proven and Probable Mineral Reserve of 702 Mt of 0.24% Copper.1

Qualified Person

This news release has been reviewed and approved by Rick Walker, P. Geo., 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: Collective Metals Inc. (CSE: COMT | OTC: CLLMF | FSE: TO1 ) 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 totaling approximately 28,560 ha (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. The Landings Lake Lithium Project is located 53 km east of Ear Falls, Ontario and covers 3,146 hectares. The Whitemud Project, with several identified pegmatite outcrops, neighbours the Landings Lake Project and consists of 381 single cell mining claims totaling 7,775 hectares.

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