Mr. Frank Basa reports

CONIAGAS ANNOUNCES PROPOSED AMENDMENTS TO COMMON SHARE PURCHASE WARRANTS

Coniagas Battery Metals Inc. has applied to the TSX Venture Exchange to reprice and extend the term of an aggregate of 3.25 million common share purchase warrants of the company.

The warrants currently have an exercise price of 40 cents per share and are set to expire as to:

• 1.47 million on Jan. 19, 2026;
• 1,428,000 on Jan. 26, 2026; and
• 352,000 on March 18, 2026.

The company proposes to extend the expiry dates of the warrants until Jan. 19, 2029, subject to acceleration, and amend the exercise price of the warrants to 15 cents per share.

It is proposed that the warrants be amended to include an accelerated expiry clause such that the exercise period of the warrants will be reduced to 30 days if, for any 10 consecutive trading days during the unexpired term of the warrant, the closing trading price of the company's common shares is equal to or greater than 18.75 cents. In accordance with exchange policy, the reduced exercise period of 30 days will begin no more than seven business days after the 10th premium trading day.

The company's directors, officers and control persons (as defined under applicable exchange policy) beneficially own, in the aggregate, less than 10 per cent of the total number of warrants to be repriced. The proposed amendments to reprice and extend the expiry date of the warrants are subject to the approval of the exchange and the consent of the holders of the warrants.

About Coniagas Battery Metals Inc.

Coniagas is a Canadian junior mining company focused on nickel, copper and cobalt, and platinum group metals in Quebec. Coniagas's strategy is to create value for shareholders through the development of its mineral properties, with the intention to develop Coniagas into a critical metal supplier to the electric vehicle market.

At its 100-per-cent-owned Graal project near Saguenay, Que., Coniagas has conducted successful exploration involving geophysics, as well as shallow drilling that hit mineralization in almost every hole. It has confirmed an open-pit deposit model at Graal along a six-kilometre strike length of high-grade nickel and copper with cobalt, platinum and palladium byproducts. The company plans in the near term to conduct additional drilling leading to the production of a National Instrument 43-101 resource report, metallurgical testing and consultations with first nations. The Graal project and immediate work plan are outlined in detail in the "NI 43-101 Technical Report Graal Nickel & Copper Project, Saguenay-Lac-St-Jean, Quebec, Canada," dated Jan. 17, 2024. The report is available along with other information at the company's website.

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