Mr. Braam Jonker reports

COTEC HOLDINGS CORP. ENGAGES DRILLING CONTRACTOR FOR LAC JEANNINE PROPERTY

Cotec Holdings Corp. has engaged Calgary based Sonic-Drilling Corp. to conduct the drilling work at the Lac Jeannine property for the completion of a maiden resource estimate on the project.

The drilling program will be completed during the 2023 season, subject to the required regulatory permits being received in time. Cotec will be working and collaborating with local, provincial and federal stakeholders throughout this drilling campaign.

The company also confirms it has made the first payment of $40,000 (U.S.) to the vendors of the property as per the option agreement announced on Aug. 9, 2023.

Julian Treger, Cotec chief executive officer, commented: "Completing the maiden resource estimate and due diligence on the Lac Jeannine property is a priority for Cotec. If the results are positive, the company will complete a feasibility study for the recovery and production of low-cost, low-carbon iron ore pellets from the project for the green steel industry. The project, if successful, is expected to add significant value to the company, and we are targeting revenue by 2025/2026.

"We view the project as the first of several asset opportunities for the application of the Binding Solutions Ltd. cold agglomeration technology. Cotec are aiming to build a low-carbon, iron ore division to facilitate our transition from technology investor to mid-tier mineral resource producer."

About Cotec Holdings Corp.

Cotec is a publicly traded investment issuer listed on the TSX Venture Exchange and the OTCQB and trades under the symbol CTH and CTHCF, respectively. The company is an ESG-focused (environment, social and governance) company investing in innovative technologies that have the potential to fundamentally change the way metals and minerals can be extracted and processed for the purpose of applying those technologies to undervalued operating assets and recycling opportunities, as the company transitions into a mid-tier mineral resource producer.

Cotec is committed to supporting the transition to a lower-carbon future for the extraction industry, a sector on the cusp of a green revolution as it embraces technology and innovation. The company has made five investments to date and is actively pursuing operating opportunities where current technology investments could be deployed.

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