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New Energy Metals Corp. Closes Non-Brokered Private Placement

Vancouver, BC - May 26, 2025 - New Energy Metals Corp. (TSXV: ENRG) (OTCQB: NRGYF) ("New Energy" or the "Company") is pleased to announce that it has closed a non-brokered private placement (the "Offering") of 900,000 Units for gross proceeds of $112,500.

Each Unit consists of one common share in the capital of the Company (a "Share") and one transferable common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to acquire one additional Share (a "Warrant Share") at an exercise price of $0.165 per Warrant Share for a period of five (5) years from the date of issuance. The Warrants are subject to an acceleration provision whereby, if the closing price of the Shares on the TSX Venture Exchange (the "TSXV") equals or exceeds $0.50 for 10 consecutive trading days, the Company may accelerate the expiry date of the Warrants by issuing a news release announcing such acceleration (the "Notice"). In such event, the Warrants will expire on the date that is thirty (30) days following the issuance of the Notice.

The Company intends to use the net proceeds of the Offering for general working capital purposes. The Company may reallocate the proceeds in its discretion for sound business reasons.

All securities issued in connection with the Offering are subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable securities laws. Completion of the Offering remains subject to final approval of the TSX Venture Exchange.

A director of the Company subscribed for 100,000 Units for aggregate consideration of $12,500. Such participation constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the insider participation does not exceed 25% of the Company's market capitalization.

The securities issued pursuant to the Offering have not been and will not be registered under the United States Securities Act of 1933, as amended, or any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements.

ON BEHALF OF THE BOARD OF DIRECTORS,

NEW ENERGY METALS CORP.

Kenneth Kaczkowski

CEO

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 statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements regarding the use of proceeds of the Offering, receipt of final approval from the TSX Venture Exchange, and the future exercise of the Warrants. Forward-looking statements are frequently identified by words such as "expects", "anticipates", "believes", "intends", "plans", "may", "will", "could", "should", "estimate", "potential" and similar expressions, including negative forms thereof.

Forward-looking statements are based on certain assumptions and involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements, including risks related to market conditions, regulatory approvals, financing risks and general economic, market and business conditions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such 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.