Mr. Nicholas Konkin reports

EV MINERALS SAMPLING PROGRAM RETURNS HIGH-GRADE RESULTS INCLUDING 1.28% NICKEL AND 2.54% COPPER AT THE LUNGE PROJECT IN SUDBURY, ONTARIO

EV Minerals Corp. has released results from the Lunge project surface sampling, which the company completed in connection with the proposed acquisition of the Baldwin and Lunge projects (the Sudbury projects). The company entered into a purchase agreement with Graycliff Exploration Ltd. (the vendor) dated Feb. 23, 2024, and the acquisition is scheduled to close on March 1, 2024.

EV Minerals mobilized a technical team to Lunge as part of the company's due diligence for acquiring the Lunge and Baldwin properties. The team collected a total of 35 samples with five samples returning assay values of greater than 1 per cent nickel (Ni), and a total of seven samples containing greater than 1 per cent copper (Cu).

Notable highlights included high-grade Ni values from grab samples F420012 (1.14 per cent Ni), 260850 (1.28 per cent Ni) and F420013 (1.23 per cent Ni). Additionally, significant Cu samples included 260845 (1.54 per cent Cu), 260846 (1.15 per cent Cu), 260842 (2.54 per cent Cu), 171004 (2.44 per cent Cu) and 171009 (2.04 per cent Cu).

EV Minerals president and chief executive officer Nicholas Konkin said: "The presence of strongly elevated nickel and copper values at surface and across multiple sites on the Lunge project shows the exploration potential of the property. Additionally, we were intrigued by the discovery of gold mineralization. We will begin to plan our 2024 base line exploration program to compliment ongoing efforts at the EV nickel property in Quebec."

About Baldwin and Lunge projects

The Baldwin project, comprising the Main Baldwin block and the Northeast Baldwin block, spans 1,605 hectares, with the adjacent 587-hectare Lunge project, located six kilometres northeast, showcasing gold and critical minerals potential. Airborne geophysics on both projects revealed multiple new target areas for gold, copper, nickel and platinum group elements (PGE) mineralization.

Baldwin, underlain by rocks of the Huronian supergroup, exposes a major splay off the Murray fault. The Elliot Lake group dominates, comprising mafic, intermediate and felsic metavolcanic rocks overlying or intercalated with McKim and Matinenda sedimentary formations. The region displays east-to-northeast trending with folding, notably southeast, featuring folded Nipissing sills along the Murray fault. Significant faults, including Murray, Worthington, Fairbanks Lake and Cameron Lake, are present.

The Lunge property, situated six km along the Elliot Lake group strike, hosts folded mafic Nipissing sills and dikes, indicating potential for copper, nickel and PGE deposits.

Geologic feedback from the technical team indicates that the predominant host rock of the stronger mineralization was gabbro, exhibiting strong alteration and mineralization, predominantly featuring pyrrhotite, chalcopyrite and pyrite.

Qualified person

Bruce Durham, an independent qualified person (QP) as such term is defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, has reviewed and approved the technical information reported in this news release.

About EV Minerals Corp.

EV Minerals is a Canadian exploration company focused on mineral exploration and development. The current focus is the EV nickel project, host of the nickel-copper-cobalt McNickel deposit. The project comprised 32 mineral claims covering approximately 1,792 hectares located in the Saguenay area, the province of Quebec. This deposit is reputed containing a non-current historical resource of 5,585,000 tonnes with grades of 0.21 per cent Ni, 0.11 per cent Cu and 0.03 per cent Co (NI 43-101 non-compliant resource), which is to be re-evaluated with the consideration of using either bioleaching or acid leaching and electrowinning for nickel, cobalt and copper recovery.

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