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New Energy Metals Announces Adoption of Semi-Annual Financial Reporting

Vancouver, British Columbia - April 30, 2026 - New Energy Metals Corp. (TSXV: ENRG) (OTCQB: NRGYF) ("New Energy" or the "Company") announces that it has elected to rely on Coordinated Blanket Order 51-933 - Exemptions to Permit Semi-Annual Reporting for Certain Venture Issuers ("CBO 51-933") and will transition to a semi-annual financial reporting framework ("SAR").

CBO 51-933 allows eligible venture issuers to voluntarily move from a quarterly to a semi-annual financial reporting framework. The Company has determined that adopting SAR will reduce the administrative and financial burden associated with quarterly reporting and allow management to focus its time and resources on its business objectives.

Under the SAR framework, the Company will not file Interim Financial Statements and related Management's Discussion and Analysis ("MD&A") for the three-month period ending September 30 and the nine-month period ending March 31 of each applicable fiscal year. Accordingly, the Company does not intend to file interim financial reports for the three-month period ending September 30, 2026 (Q1) and the nine-month period ending March 31, 2027 (Q3). The Company will continue to file audited annual financial statements (due within 120 days of June 30) and six-month interim financial reports (due within 60 days of December 31).

The Company confirms that it meets the eligibility criteria under CBO 51-933. The Company remains committed to timely disclosure and will continue to report all material changes and significant developments in accordance with National Instrument 51-102 - Continuous Disclosure Obligations.

This news release is being issued pursuant to Coordinated Blanket Order 51-933 Exemptions to Permit Semi-Annual Reporting for Certain Venture Issuers.

ON BEHALF OF THE BOARD OF DIRECTORS,

New Energy Metals Corp.

Kenneth Kaczkowski

Chief Executive Officer

Tel: 305-280-4161

www.new-enrg.com

About New Energy Metals Corp.

New Energy Metals Corp. is a Canadian-based resource company listed on the TSX Venture Exchange under the symbol "ENRG". The Company has an option to purchase a 100% interest in the Troitsa Copper property covering approximately 7,000 hectares located in the Omineca Mining Division of British Columbia.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements

This news release contains certain "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). Forward-looking statements are often identified by words such as "anticipate," "believe," "expect," "intend," "plan," "may," "will," "could," "should," and similar expressions.

Forward-looking statements in this news release include, but are not limited to, statements regarding the Company's transition to a semi-annual financial reporting framework, its continued eligibility under Coordinated Blanket Order 51-933, and the anticipated timing and nature of its future financial reporting obligations.

Forward-looking statements are based on management's current expectations and assumptions, including, but not limited to, the Company's continued compliance with applicable securities laws and regulatory requirements. These statements are subject to a number of risks and uncertainties, many of which are beyond the Company's control, including the risk that the Company may no longer meet the eligibility criteria under Coordinated Blanket Order 51-933 or that regulatory requirements may change.

Although the Company believes that the assumptions underlying these forward-looking statements are reasonable, they may prove to be incorrect, and actual results may differ materially from those expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements.

The Company undertakes no obligation to update or revise any forward-looking statements, except as required by applicable securities laws.