Mr. John O'Donnell reports

ENEREV5 METALS ANNOUNCES NEW BROKERED PRIVATE PLACEMENTS AND TERMINATION OF PRIOR PLACEMENT

Enerev5 Metals Inc. plans to raise $300,000 of flow-through dollars to finance the planned phase one geophysical survey and $250,000 of hard dollars for working capital and administrative expenses the details of which are herein.

The company plans to issue up to five million hard dollar units at a price of five cents per unit ($250,000) and up to three million flow-through units at a price of 10 cents per unit ($300,000). Each hard dollar unit consists of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder to acquire one additional common share of the company at a price of five cents for a period of five years from the date of issue. Each flow-through unit consists of one flow-through common share and one warrant. The hard dollar units and flow-through units are being offered on a brokered basis through IBK Capital Corp.

The company will pay the agent a cash fee of 9 per cent of the funds raised, and issue to the agent warrants equal to 10 per cent of all hard dollar units and flow-through units issued in the form of non-transferable broker warrants. Each broker warrant entitles the holder to acquire one unit at a price of five cents for a period of five years. Each broker unit consists of one common share of the company and one common share purchase warrant. Each broker unit warrant will entitle the holder to acquire one additional common share of the company at a price of five cents for a period of five years from the date of issuance of the Broker warrant. IBK Capital Corp. is a connected issuer and related issuer of the company, as defined in Canadian securities legislation, by virtue of the ownership of securities of the company by its directors and officers.

All securities issued in these offerings are subject to a four-month hold period from the date of closing.

The private placement announced on March 2, 2023, has been terminated.

About Enerev5 Metals Inc.

Enerev5 Metals is a Canadian resource company which has been focusing on exploration and development potential, related to energy metals such as nickel, copper, cobalt and other strategic battery minerals, as well as other net-zero carbon-related assets.

We seek Safe Harbor.