Mr. Alex Klenman reports

MANNING VENTURES TO ACQUIRE COPPER PROJECT IN NEVADA

Manning Ventures Inc. has entered into an option agreement with Claremont Mines Nevada LLC (the optionor), which is the legal and beneficial owner of 66 unpatented lode mineral claims located in Nevada (the Copper Hill project), whereby the optionor has granted the company the right to acquire a 100-per-cent interest in the Copper Hill project, located within the Walker Lane trend, Nevada, United States.

The company is eager to expand its energy metals exposure, and increasing its footprint in copper at this time is strategically significant. "Supply deficits, declining grades and geopolitical instability, combined with a widening supply imbalance and increased demand, are fuelling what appears to be a very strong copper market in the years ahead," said Alex Klenman, chief executive officer. "New supplies from proven geopolitically sound jurisdictions must be secured to meet demand estimates over the next few decades. We like this project in Nevada, which has seen strong historical results. This is an excellent addition to our portfolio, and we'll announce phase 1 exploration and drilling plans shortly," continued Mr. Klenman.

About the Copper Hill project

Copper Hill hosts copper-gold-molybdenum mineralization in both porphyry- and skarn-styled deposits in Mineral county, Nevada. The property consists of 66 mineral claims covering an area of 2.3 miles. The property is located 22 miles north of Hawthorne, Nev., and is accessible using well-maintained county roads.

The project is centred on a Jurassic-age quartz monzonite porphyry intruding Triassic-age Luning limestone. The claims cover 2.3 square miles and are 33 miles east of the Yerington copper district, which hosts the Yerington copper mine (Anaconda 1952 to 1978), Ann Mason deposit, Bear deposit, MacArthur deposit and the Pumpkin Hollow mine.

Historically at Copper Hill, reported high-grade copper was mined from underground shafts from skarn- and porphyry-copper-styled mineralization at the Copper Mountain mine. Between 1914 to 1926, mining from the Copper Mountain mine produced an estimated one million pounds of copper from shallow underground workings. Historic reporting from the period of production describes ore zones of contact skarn-type and porphyry-type mineralization with shipping grades ranging from 3.5 per cent to 11 per cent copper.

Note: Historic mining information was summarized from an "Unpublished report on the Carson Sink area, Nevada, by F.C. Schrader, United States Geological Survey (field work 1911 to 1920), 1947." Manning Ventures cautions investors that the historic exploration and production information is believed to be accurate but has not been verified by a qualified person.

The Copper Hill mineralizing system forms a topographic high surrounded and partially covered by younger volcanic rocks. Mineralization identified at Copper Hill are bornite, chalcocite, chalcopyrite, chrysocolla, copper-native, covellite, cuprite, gold, malachite, molybdenite, silver, sphalerite (rare) and tetrahedrite.

The Copper Mountain area was explored between 1959 and 1979 by Idaho Minning Corp. and Walker-Martel, which conducted ground geophysics, underground mapping and prospecting, and reported 6,000 feet of rotary drilling. Since that time, ground magnetics were conducted in 2007.

Rock sampling collected at this time returned values from select samples of 7.2 per cent and 12.7 per cent copper, and 1.06 grams per tonne (g/t) gold and 1.19 g/t gold, respectively.

The target being sought at Copper Hill is a porphyry-styled copper-molybdenum-gold deposit.

Terms

Pursuant to the terms and conditions of the option agreement dated Feb. 27, 2024, and in order to acquire a 100-per-cent interest in and to the Copper Hill project, the company must pay the optionor an aggregate of $1.5-million (U.S.) in cash (the exercise price) on or before the 13th anniversary following the execution of the option agreement (the date of execution being referred to herein as the effective date).

During the option term, the company shall pay the optionor annual minimum payments, which shall each constitute partial payment of exercise price, on or before the following dates: (i) $15,000 (U.S.) on the effective date of the option agreement; (ii) $25,000 (U.S.) on or before the first anniversary of the effective date; (iii) $50,000 (U.S.) on or before the second anniversary of the effective date; (iv) $60,000 (U.S.) on or before the third anniversary of the effective date; (v) $80,000 (U.S.) on or before the fourth anniversary of the effective date; (vi) $100,000 (U.S.) on or before the fifth anniversary of the effective date; and (vii) after the fifth anniversary of the effective date, $100,000 (U.S.) on or before each subsequent anniversary of the effective date.

Upon exercise of the option, the optionor will retain a royalty equal to 2 per cent of net smelter returns (NSR) from the Copper Hill project, which may be reduced at any time from 2 per cent to 1 per cent by the company, or its permitted assign, by paying the optionor an aggregate of $1-million (U.S.).

Warren Robb, PGeo, is the designated qualified person as defined by National Instrument 43-101 and is responsible for the technical information contained in this release.

About Manning Ventures Inc.

Manning Ventures is a mineral exploration and development company focused on metals and materials critical to the growing energy metals space. Manning's project portfolio includes lithium/copper projects in Ontario and Quebec, in addition to multiple iron ore projects in Quebec.

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