Mr. Alex Klenman reports

MANNING VENTURES BEGINS EXPLORATION ON KABA COPPER-LITHIUM PROJECT

Exploration has begun on Manning Ventures Inc.'s Kaba copper project located 50 kilometres northeast of the town of Nipigon. Logging roads provide excellent access to the property from the Trans-Canada Highway 17.

Very little systematic exploration has taken place since the 1980s. The last drilling performed was in 1980 for three holes totalling 172 metres.

"We are very excited to begin exploration on the Kaba copper project after decades of neglect," said Alex Klenman, chief executive officer of Manning Ventures. "The company is taking a systematic approach to its exploration plans this summer with the objective of diamond drilling on the targets of the highest merit in the fall. We are also in rare element pegmatite country of the Barbara Lake pegmatite field and will be on the lookout for these critical mineral occurrences during our exploration efforts," continued Mr. Klenman.

Exploration plans

Exploration plans for the summer include:

1. GIS compilation of all historical work and drilling (in progress);
2. High-resolution heli-borne magnetic survey which will aid in providing structural features that are integrally associated with the copper mineralization (in progress);
3. Structural and geological interpretation of the high-resolution magnetic survey incorporating known mineralization occurrences to aid in vectoring future exploration;
4. Boots-on-the-ground mapping and prospecting over known mineralization occurrences and those areas deemed prospective for new mineralization from the above exercises (in progress);
5. Stripping, trenching and channel sampling of those targets with the highest merit;
6. Diamond drilling.

Kaba copper project

Two copper occurrences on the property are intimately associated with the northwest-trending Eastborne Hall Lake fault, a product of late-stage mid-continental rifting. The occurrences are contained within copper-rich breccias and veins. Chalcopyrite, bornite and pyrite associated with quartz breccia are hosted within biotite granite and diabase. Ground and magnetic surveys were completed by Anglo-American in 1968. Two anomalies were outlined by magnetics 275 metres and 180 metres long. The electromagnetic survey indicated mineralization for 1,200 m. Drilling by Anglo highlighted 26.5 m grading 1 per cent Cu and 17.3 m grading 0.54 per cent Cu (MDI42E04NE00007). There were no analyses for gold.

Most copper assays were whited out in the assessment report. Other intervals include 2.02 per cent Cu over 4.27 m and 1.26 per cent Cu over 3.65 m. Chip samples in 1979 by Stinson reported 0.32 per cent Cu over 9.14 m (AFRI 42E04NE8355).

The project is also located approximately 15 km east of the Barbara Lake lithium-bearing pegmatite field, where numerous recent discoveries of Li-bearing pegmatites have occurred. The Barbara Lake area includes, among others, Imagine Lithium, which recently drilled 21 metres of 1.16 per cent Li2O (lithium oxide) and five m of 1.12 per cent Li2O (Imagine Lithium news release, Oct. 19, 2022), and Rock Tech Lithium's Georgia Lake project, where the northern spodumene pegmatite area has a measured resource of 2.31 million tonnes at 1.04 per cent Li2O and an indicated resource of 4.31 Mt at 0.99 per cent Li2O (Rock Tech National Instrument 43-101 preliminary economic assessment, March 15, 2021).

Qualified person

Mike Kilbourne, PGeo, an independent qualified person as defined in National Instrument 43-101, has reviewed and approved the technical contents of this news release on behalf of the company. The QP and the company have not completed sufficient work to verify the historic information on the properties comprising the Kaba property, particularly regarding historical exploration, neighbouring companies and government geological work.

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 a portfolio of polymetallic projects in Newfoundland.

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