Mr. Stephen Stewart reports

METAL ENERGY ANNOUNCES ADDITIONAL STRATEGIC INVESTOR: TECK ACQUIRES 9.9% EQUITY INTEREST TO FUND EXPLORATION ON THE NIV PROPERTY IN BC

Teck Resources Ltd. will make a strategic investment in Metal Energy Corp. and become a 9.9-per-cent shareholder, joining Centerra Gold Inc., which will also hold a 9.9-per-cent strategic interest.

"We are pleased to welcome Teck as our second strategic investor in Metal Energy. Having one major mining company already on our register provides meaningful validation; adding a second reinforces that confidence. We look forward to having Centerra and Teck form a joint technical advisory committee and believe Teck's long track record in base metals in British Columbia is an excellent complement to Centerra's focus on gold operations in the region. It's worth underscoring how rare it is to have two major mining companies invest in an undrilled asset. Their participation reflects both the quality of the targets and the exceptional work of Charlie Greig and Alex Walcott in advancing this opportunity.

"With this financing fully subscribed and two major mining companies now aligned with us, we hope the broader mining investment community will take notice of Metal Energy and NIV as our team moves toward its next objective of delivering another discovery in the region," said Stephen Stewart, chairman of Metal Energy.

Strategic investments by Teck and Centerra

Teck and Centerra are each expected to subscribe for 4,442,000 shares of the total: (i) 8.88 million common shares to be issued on a premium flow-through basis at a price of 73 cents per flow-through share; and (ii) 6.2 million common shares at a price of 45 cents per share. Following completion of the offering, each of Teck and Centerra is expected to own approximately 9.9 per cent of Metal Energy's issued and outstanding common shares. In connection with the closing of the offering, the company will enter into an investor rights agreement with Teck, substantially on par with the investor rights agreement that will be entered into with Centerra, which will include certain top-up and information rights and will require that funds from Teck be allocated to finance exploration on the company's NIV property.

Closing of the offering announced on Nov. 27 is expected to occur on or about Dec. 16, 2025, subject to the satisfaction of customary closing conditions, including receipt of all necessary regulatory approvals and acceptance of the TSX Venture Exchange. All securities issued in connection with the offering will be subject to a hold period of four months plus one day in accordance with applicable securities laws.

About Metal Energy Corp.

Metal Energy is a critical metals exploration company focused on copper and gold assets in Canada. The company controls NIV, a fully permitted and drill-ready copper-gold-molybdenum project located in British Columbia's prolific Toodoggone district, a region known for significant porphyry deposits.

With the addition of NIV, Metal Energy's portfolio now includes three high-potential projects:

• NIV project (copper/gold/molybdenum; 100% per cent ) -- Toodoggone district, British Columbia;
• Highland Valley project (copper/molybdenum/silver/gold/rhenium; 100 per cent owned) -- British Columbia;
• Manibridge project (nickel/copper/cobalt/platinum group elements; 85 per cent owned) -- Manitoba.

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