Mr. Sam Walding of Infinico Metals reports

INFINICO METALS CORP. GRANTED EXTENSION TO ITS OPTION AGREEMENT ON THE DALHOUSIE PROJECT AND ANNOUNCES RESIGNATION OF DIRECTOR

Infinico Metals Corp. has received a six-month extension on the first-year work commitment on its Dalhousie project, located 180 kilometres northeast of Val d'Or, Que.

Under the original terms of the agreement dated July 31, 2023, between the company and Globex Mining Enterprises Inc. (the optionor), Infinico was required to undertake $1-million in exploration expenditure within the first 12-month period. Due to forest fires in 2023 and weather conditions delaying the start of the 2024 field season, the optionor has agreed to waive the deadline by which the expenditures must be made, until Dec. 31, 2024. All other terms of the option agreement remain the same as detailed in the June 5, 2023, press release.

Sam Walding, Infinico's chief executive officer, commented: "The extension to the Dalhousie option agreement is great news, allowing Infinico ample time to mobilize once the snow has melted. This extension enables the continuation of systematic mapping and sampling of the lithium-bearing pegmatite identified on the property in late 2023. The mapping will play a crucial role in planning any further work later in 2024."

Dalhousie summary of results and future work

In November, 2023, a spodumene-bearing pegmatite outcrop on the west end of the Dalhousie property was identified. The results from a total of six rock-chip samples collected are shown in the attached table. Five of the six samples grade above 1.30 per cent Li2O (lithium oxide) and up to 4.45 per cent Li2O.

The pegmatite outcrop has a minimum strike length of 110 metres based on a one-day mapping and rock-chip sampling program at its Dalhousie project.

A detailed mapping and sampling program is planned for the spring of 2024. The work program will assist in understanding the true extent of the newly discovered lithium-bearing pegmatite as well as helping to identify previously unrecognized lithium-bearing pegmatites elsewhere on the Dalhousie project.

Resignation of director

Michael Skead has stepped down as a director of Infinico with immediate effect due to personal reasons.

Tom Panoulias, executive chairman of Infinico Metals, stated, "On behalf of the board of directors of Infinico Metals, I would like to thank Mr Skead for his contribution and advice to the company while it went through a transitional period refocusing on critical metals exploration in Quebec."

Qualified persons

The technical information in this news release has been prepared by Szabolcs Orban, MSc, EFG, EurGeol (No. 1883), OGQ (AS-1617), vice-president of exploration at Infinico Metals. Mr. Orban is a qualified person as defined in National Instrument 43-101. Mr. Orban has read and approved the content of this news release.

About the Dalhousie project

The Dalhousie project is located approximately 180 kilometres northeast of Val d'Or, Que., Canada. The project is fully accessible by road with nearby mining infrastructure and expertise. The project is host to a cluster of magmatic nickel sulphide occurrences within a mafic-ultramafic intrusive complex as well as a newly recognized lithium-bearing pegmatite.

About Infinico Metals Corp.

Infinico Metals is a public company on the TSX Venture Exchange focusing on the exploration for critical metals in the province of Quebec. The company has signed option agreements on the Nicobi project, hosting magmatic nickel-copper-cobalt sulphide mineralization, and on the Dalhousie project, which also hosts magmatic copper-cobalt-nickel sulphide mineralization and a recently discovered lithium-bearing pegmatite.

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