Mr. Christopher Huggins reports

COLLECTIVE METALS ANNOUNCES MOBILIZATION OF A FIELD EXPLORATION CREW TO ITS WHITEMUD LAKE LITHIUM PROJECT IN EAR FALLS, NORTHWESTERN ONTARIO

Collective Metals Inc. has mobilized an experienced field exploration crew from Bayside Geosciences of Thunder Bay, Ont., to its Whitemud Lake lithium property. The Property is located in the emerging Lithium-Cesium-Tantalum (LCT) pegmatite field east of Ear Falls in northwestern Ontario.

The Property is hosted within the LCT-prolific English River terrane, about 40 km along the regional strike from Beyond Lithium Minerals' recent spodumene discovery north of Ear Falls. Grab samples with assay values up to 4.54% Li2O in a 3 km long prospective trend were reported ( See News Release Dated September 17, 2023 ). Green Technology Metals' Root Lake project, located 70 km east of the Property, hosts a JORC compliant 12.6 million tonnes of inferred resource at 1.21% Li2O and 62 ppm Ta2O5 1 ( See News Release Dated June 07, 2023 ).

Christopher Huggins, Chief Executive Officer of Collective, commented, "We are thrilled to mobilize such an experienced Lithium exploration crew before the end of season. The Bayside team has participated in the discovery of numerous LCT pegmatites in northwestern Ontario.

This inaugural exploration program is a direct result of the hard work we have been doing at compiling and interpreting publicly available exploration data for our lithium assets in Ontario. We anticipate an effective exploration program that will hopefully lead to discovery at Whitemud Lake. This field project and its results will be used to define our exploration and discovery mission for 2024."

Highlights

The Property is located within 4 km of a terrane boundary between the English River and Uchi terranes in an emerging LCT pegmatite field east of Ear Falls (Figure 1). Most LCT pegmatite deposits in Ontario are hosted in proximity to terrane boundaries between geological domains within the Superior geological province.

Compilation and interpretation of historic geological mapping, elevation models, airborne magnetic, and lake geochemistry data were used to identify multiple priority target areas for the 2023 field exploration program (Figures 2 & 3).

The geology of the Property is composed of granodiorites and tonalites that are part of the Bluffy Lake Batholith and intrude into metasedimentary rocks of the English River (Figure 2). The Bluffy Lake Batholith occurs along strike to the east of the Wenasaga Lake Batholith where Beyond Lithium's Ear Falls project is located.

Several similar granitic intrusive bodies such as the Sharpe Lake Batholith and Root Lake Pluton that occur between 10 to 70 km to the east of the Property are interpreted to be sources of LCT pegmatite deposits in the region, including at Green Technology Metals' Root Lake Project (Figure 1).

Northwest striking structural corridors characterized by magnetic lows indicate potential LCT pegmatite traps zones (Figure 3). One of these structures that occurs in the northern part of the Property is a regional structure that splays off the terrane boundary between the English River and Uchi. A historic geological map published by Ontario Geological Survey reported presence of pegmatite outcrops in the area (Figures 2 & 3).

The field exploration program (the "Program") is focused on prospecting, sample collection, and geological mapping of priority target areas with reported pegmatites and strong Lithium anomalies in lake geochemistry data.

Whitemud Lake Project

The Project is located in northwestern Ontario where numerous pegmatite-hosted Lithium-Cesium-Tantalum deposits have been delineated. The Project is located 40 km east of Ear Falls, Ontario, approximately 70 km west of Green Technology Metals' Root Lake Project. It covers 7,775 hectares of LCT pegmatite prospective ground within the Lithium-prolific English River terrane.

Qualified Person

This news release has been reviewed and approved by Amanuel Bein, P. Geo., who is acting as the Company's Qualified Person for the Project, in line with National Instrument 43-101 Standard of Disclosure for Mineral Projects.

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

References

About Collective Metals Inc.

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 Lake 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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