Mr. Christopher Huggins reports

COLLECTIVE METALS COMMENCES PHASE TWO EXPLORATION PROGRAM FOR ITS PRINCETON COPPER PROJECT

Collective Metals Inc. has commenced its phase 2 exploration program on its Princeton copper project. This program is a regional reconnaissance soil program designed to evaluate 11 previously untested priority target areas across the project.

The smaller soil grids are intended as initial reconnaissance surveys, characterized by relatively widely spaced lines and a 75-metre station interval. Anomalous results will be followed up with infill lines as required. Geochemical results from the soil grids are intended to further evaluate previously identified anomalies and complement existing data available for the property, including surface geochemistry (silts, soils and/or rocks), radiolithic, magnetic and/or 3-D induced polarization surveys (see news release dated Aug. 10, 2023). The company's objective for these broad regional survey grids is to identify additional copper porphyry targets for further exploration and delineation in the coming months.

The program will consist of approximately 900 Ah or B horizon soil samples collected across 11 target areas identified as high-priority areas. Anomalous results returned from the phase 1 soil survey in the Trojan-Condor corridor will be further developed through addition of infill lines (to reduce line spacing) and extending previous soil lines northeast in the Condor area and farther southwest from the Trojan area. Other comparatively smaller soil grids will cover:

• Areas of anomalous alteration identified at surface (Fourteen Mile Creek);
• Triassic-age intrusions exposed at surface (Mount Pike Suite, Lamont Ridge, Goat and Findlay showings);
• Anomalous soils previously collected (Fifteen Mile Creek);
• Intrusions with spatially associated strong magnetic signatures.

The exploration targets for the project are multiple interpreted alkalic copper-gold porphyry occurrences associated with Triassic-age diorite intrusions similar to that currently being mined at Copper Mountain, located approximately 10 kilometres east, which represents the deposit model for the project.

Collective's exploration model is similar to the model used at Kodiak Copper's MPD property, located approximately 30 km to the north-northeast. Documented mineralized occurrences within, and adjacent to, the property, together with a wealth of information acquired by previous operators, the British Columbia Geological Survey Branch and Geoscience BC (see news release dated July 5, 2023), document interpreted porphyry-style alteration and/or mineralization.

The 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 km west of Hudbay Minerals Inc.'s currently producing Copper Mountain mine, which hosts a proven and probable mineral reserve of 702 million tonnes of 0.24 per cent copper.

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 project, in accordance with regulations under National Instrument 43-101.

The information disclosed is not necessarily indicative of mineralization on the 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 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, Ont., 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 totalling 7,775 hectares.

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