Mr. Christopher Huggins reports

COLLECTIVE METALS ANNOUNCES RESULTS OF PHASE ONE SOIL SURVEY FROM ITS FLAGSHIP PRINCETON COPPER PROJECT

Collective Metals Inc. has received assay results for soil samples that were collected in phase 1 of the company's two-phase reconnaissance soil sampling program conducted in summer of 2023 on the Princeton copper project. The program was designed to identify surface geochemical anomalies related to copper mineralization in close proximity to known historic copper mineral showings. Assay results from phase 1 samples collected from the southern part of the project with historic copper showings hosted in a structural corridor (the Trojan-Condor corridor) are highlighted below.

Highlights:

• Phase 1 samples were collected from a northeast-oriented grid that targeted the Trojan-Condor corridor where 470 soil samples were primarily taken from the Ah soil horizon.
• Two areas with anomalous copper, silver, gold and tellurium were identified based on assay results of phase 1 samples. Modestly high copper anomalies in these two areas labelled range between 75 and 186 and 35 and 115 parts per million, respectively.
• Corresponding enrichments in elements such as silver, gold and tellurium, and the presence of copper mineralization in the Trojan and Nev showings indicate the anomalies are likely related to copper porphyry-style mineralization in the Trojan-Condor corridor.
• The company's 2023 field exploration program is progressing well with results of the regional reconnaissance phase 2 soil sampling program expected in the coming weeks.

Christopher Huggins, chief executive officer of Collective, commented: "We are very happy with results of the copper porphyry-style anomalies in the two areas within the Trojan-Condor corridor. We look forward to receiving assay results from the additional 10 grids which were targeted in untested areas of the project which were samples earlier this summer. This soil program shows we are able to see beyond the overburden that covers most of the project and highlights the potential for copper porphyry mineralization and discovery on the project."

Princeton copper project

The company's flagship 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 kilometres 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 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. 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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