Mr. Matt Filgate reports

GREENLIGHT METALS ANNOUNCES CLOSING OF $11.5 MILLION BOUGHT DEAL FINANCING

Greenlight Metals Inc. has closed its previously announced bought deal private placement offering of an aggregate of 32.89 million common shares of the company, including 4.29 million shares issued as a result of the full exercise of the underwriters' option, at a price of 35 cents per share for gross proceeds to the company of $11,511,500. The offering was conducted by Stifel Nicolaus Canada Inc. and TD Securities Inc., as joint bookrunners and co-lead underwriters, pursuant to an underwriting agreement dated Nov. 26, 2025, between the underwriters and the company.

The company intends to use the net proceeds received from the offering for development purposes at the company's Bend project in Wisconsin, exploration on the Penokean VMS belt in Wisconsin, property payments, project support, and general corporate and working capital purposes, as further set out in the offering document (as defined below).

In connection with the offering, the company paid the underwriters a cash commission of $615,653.85 and issued to the underwriters an aggregate of 1,544,622 non-transferable broker warrants of the company. Each broker warrant is exercisable into one share at a price of 35 cents per share at any time prior to Nov. 26, 2027.

The shares were issued and sold to purchasers pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 -- Prospectus Exemptions, as amended and supplemented by Coordinated Blanket Order 45-935 -- Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. There is an offering document related to the offering that can be accessed under the company's issuer profile on SEDAR+ and on the company's website. The shares issued pursuant to the listed issuer financing exemption are not subject to a hold period in Canada pursuant to applicable Canadian securities laws. All other securities not issued pursuant to the listed issuer financing exemption, including the broker warrants, are subject to a statutory four-month hold period in accordance with applicable Canadian securities laws.

About Greenlight Metals Inc.

Greenlight Metals is a Wisconsin-focused exploration company advancing copper-gold and gold projects across the Penokean Volcanic belt -- one of North America's most prospective VMS districts -- and the Kalium Canyon epithermal gold project in Nevada's Walker Lane. In Wisconsin, the company's portfolio includes the Bend copper-gold deposit, the Reef high-grade gold project, and the Lobo and Lobo East massive sulphide targets. Guided by a team with deep roots in the state, the company is building a modern minerals company for Wisconsin, by Wisconsin -- committed to responsible exploration, transparent engagement and creating durable local opportunities as the company helps supply the critical metals that power the energy transition.

We seek Safe Harbor.