Mr. Alex Klenman reports

MANNING VENTURES ANNOUCES UPCOMING FIELD PROGRAM AT THE NEWFOUNDLAND DIPOLE LITHIUM PROPERTY

Manning Ventures Inc. has provided an update on coming exploration activities at its 100-per-cent-owned Dipole lithium property in Newfoundland. The company is in the planning stages of an extensive field program as soon as weather permits.

Manning Ventures' Dipole lithium project is a 997.3-hectare project located within the Hermitage flexure structure approximately 50 kilometres along strike of the Sokoman/Benton Kraken lithium discovery. The Hermitage flexure is a regional-scale structural corridor containing volcano sedimentary rock units, which are favourable host rocks for spodumene-bearing LCT (lithium-cesium-tantalum) pegmatites. The Hermitage flexure is thought to be the continuation of the Avalonia to Kings Mountain/Piedmont trends as discussed below.

During the first half of 2022, Dahrouge Geological Consulting (DGC) completed a regional metallogenic study of southern Newfoundland and recommended the acquisition of the property due to its prospective nature for hosting lithium-cesium-tantalum-type pegmatite and/or tungsten mineralization. The property is host to several positive indicators for lithium mineralization.

The company completed a reconnaissance-scale program in late 2022 that successfully accomplished the task of validating the property's LCT-style affinity by returning highly anomalous lithium values (up to 472 parts per million Li) hosted in a felsic intrusive host rock. This program successfully confirmed that lithium-enriched intrusives are present at Dipole while delineating a newly discovered 100-metre zone that produced five samples of highly anomalous lithium values from 367 ppm to 472 ppm Li (see Manning news release dated Feb. 8, 2023).

"These highly anomalous lithium values are significant, well above expected background levels and justify further exploration efforts," said chief executive officer Alex Klenman. "Given the promising results from the reconnaissance-scale program, combined with the positive results nearby, we are eager to conduct further recon and sampling over the summer months with the goal to identify potential first phase drill targets for Q3/Q4," continued Mr. Klenman.

The company will provide more details on the timing and full scope of planned activities in the coming weeks.

Newfoundland lithium belt discovery

Newfoundland's pegmatite belt is over 450 kilometres in length and is analogous to the Avalonia lithium belt in Ireland and Kings Mountain/Piedmont lithium belt in North Carolina.* LCT-style pegmatites have been identified in regional mapping of Newfoundland since the middle of the 1900s. During the mid-1960s, the Newfoundland government conducted two seasons of pegmatite surveys to evaluate their economic potential. Beryl-bearing pegmatites were mapped, but very little was known about the zonation of metals like beryllium, tantalum and lithium within pegmatite fields. Since then, significant amounts of new regional geochemical data have been released yet no modern-day lithium exploration techniques have been applied in this highly prospective region.

Through their research, various companies actively exploring for lithium in Newfoundland have identified numerous lithium-cesium-tantalum pegmatite targets within belt, and Sokoman Minerals/Benton Resources have made the most significant progress so far*: see the Sokoman Minerals website.

* Readers are cautioned that information regarding mineral resources, geology and mineralization on adjacent or similar properties is not necessarily indicative of the mineralization on the company's properties.

Qualified person disclosure

Neil McCallum, BSc, PGeo, of Dahrouge Geological Consulting Ltd., supervised the preparation of the technical information in this news release.

About Manning Ventures Inc.

Manning is a broad-based mineral exploration and development company with a focus in Canada. Manning holds a 100-per-cent interest in the Bounty lithium project, located in Quebec, and the Dipole lithium project, in Newfoundland. The company also retains interest in six iron ore properties located in the province of Quebec, and portfolio of polymetallic projects in Newfoundland.

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