Mr. Christopher Huggins reports

COLLECTIVE METALS ANNOUNCES CLOSING OF FLOW THROUGH FINANCING FOR GROSS PROCEEDS OF CDN $349,999.92

Collective Metals Inc. has closed a non-brokered private placement of 1,129,032 flow-through units of the company at a price of 31 cents per FT unit for gross proceeds of $349,999.92. Each FT unit comprises one common share of the company issued on a flow-through basis under the Income Tax Act (Canada) and one-half of one common share purchase warrant, with each warrant exercisable to acquire one common share of the company at a price of 35 cents per warrant share for a period of 24 months from the date of issuance.

The company intends to use the gross proceeds received from the offering toward Canadian exploration expenses that are flow-through critical mineral mining expenditures (as such terms are defined in the tax act) on the company's properties located in British Columbia and Ontario.

In connection with the closing, an aggregate of $24,500 was paid in cash and a total of 79,032 finder's warrants were issued as finder's fees. Each finder's warrant entitles the holder thereof to acquire one common share in the capital of the company at a price of 35 cents per finder's warrant share for a period of 24 months from the date of issuance.

All securities issued in connection with the offering are subject to a statutory hold period of four months and one day.

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 kilometres 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 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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