Mr. Charlie Greig reports

METAL ENERGY PREPARES INITIAL DRILL PROGRAM AT ITS HIGHLAND VALLEY COPPER PROJECT, BRITISH COLUMBIA

Metal Energy Corp. is planning a 2,000-metre initial drill program at its 100-per-cent-owned Highland Valley copper project in south-central British Columbia, with six priority porphyry targets defined by the company through nearly two years of geophysical, geochemical and permitting work. Drilling is expected to commence in October, 2026.

Highlights

• Drill ready and permitted. In July, 2026, the company received a multiyear, area-based Mines Act drill permit authorizing up to 50 drill sites, 11.7 kilometres of new exploration trail and 80 line kilometres of geophysical surveying.
• Initial program, six targets. Drill program is scheduled for October, 2026, testing six priority targets generated from extensive geophysical and geochemical surveys, both historical and recent.
• The project covers 240 square kilometres of the southern Guichon Creek batholith, the same intrusive complex that hosts the Highland Valley copper mine, Canada's largest copper operation.
• Deep data set, two priority zones, no recent drilling. The project has seen more than 55,000 metres of drilling in 402 historical holes by operators that include Asarco, Cominco and Hudbay. This underpins the project, which hosts two mineralized zones, Zone 1 (copper-silver-molybdenum over roughly 1,200 metres of strike, open at depth) and Zone 2 (higher-grade copper-gold-silver-molybdenum-rhenium with strong gold enrichment). The project has not been drilled in six years.

"Highland Valley is now permitted and ready to drill. We hold 240 square kilometres within the same intrusive complex that hosts the Highland Valley Copper mine, Canada's largest copper operation. Two years of geophysical, geochemical and permitting work have delivered a well defined set of six priority targets, and we intend to begin testing them in October. The scale of the land package, the quality of the target inventory and the experience of our technical team give us considerable confidence as we undertake the first recent drill test of this ground," said C.J. "Charlie" Greig, PGeo, chief executive officer of Metal Energy.

October drill program

The planned 2,000-metre program will test six priority targets worked up by the company's technical team over the nearly two years it took to permit the project. The targets emerged from a large body of historical, and recent geological, geochemical and geophysical work, much of the latter completed by P.E. Walcott & Associates Ltd., the company's primary geophysical contractor. Drilling is expected to begin in October, 2026, once the company completes its current drill program at the NIV property in Northern B.C. The Highland Valley program is expected to run for approximately 35 days at an estimated cost of roughly $800,000.

With drilling under way at NIV and about to start at Highland Valley, Metal Energy will have results coming in from two prospective copper and copper-gold camps, providing shareholders with a steady run of exploration catalysts through the balance of 2026 and into 2027.

The Highland Valley copper project

Metal Energy's Highland Valley project sits on trend with the producing porphyry systems of one of North America's great copper camps, a district that has been in continuous production for more than 60 years. That staying power was reinforced recently with the sanctioning of the Highland Valley copper mine life extension, a decision that carries production through to 2046 and ranks as one of the largest critical minerals investments in the history of British Columbia. It is a strong vote of confidence in the district from the operator of the largest copper mine in the country. The renewed activity is not limited to the mine itself. In the northern part of the district, Getty Copper recently reported an intercept of 342 metres of 0.50 per cent copper, including 108 metres of 0.70 per cent copper.

On Metal Energy's ground in the southern part of the district, our work includes a 1,000 sample soil geochemical survey run in conjunction with ground AMT (audio magnetotelluric) and airborne magnetometer geophysical surveys, which together have helped outline porphyry targets across the property. Among these is the untested Billy Lake target, where a large resistive zone coincides with a significant copper-in-soil anomaly. Other significant targets include Chataway, LeRoy Lake, Mystery and Sho (see MERG news release of Oct. 8, 2025).

Option agreement

The company has issued 2,358,797 common shares to Fox Tungsten Inc. (formerly Happy Creek Minerals Inc.) to satisfy the tranche one and tranche two milestone payments under the company's acquisition agreement dated Nov. 7, 2024. The consideration shares together represent a value of $2-million and were issued at a deemed price of 85 cents per share, being the 30-day volume-weighted average price of the company's shares as calculated under the purchase agreement.

No finders' fees were paid on the issuance. The consideration shares are subject to a statutory hold period of four months and one day from the date of issuance under applicable Canadian securities laws. The issuance was accepted by the TSX Venture Exchange and approved by the company's board when the Highland Valley acquisition was first completed, and no further approvals are required.

Qualified person

The technical information contained in this news release has been reviewed and approved by Mr. Greig, PGeo, chief executive officer of Metal Energy, and a qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

Readers are cautioned that mineralization, exploration results, mines, deposits or projects on properties adjacent to or proximate to the project, including the Highland Valley copper mine and results reported by Getty Copper, are not necessarily indicative of mineralization on the project, and the company has no interest in or right to acquire any interest in those properties. The project does not host a mineral resource or mineral reserve estimate prepared in accordance with National Instrument 43-101.

About Metal Energy Corp.

Metal Energy is a critical metals exploration company focused on copper and gold assets in Canada. The company's flagship asset, NIV, is a fully permitted and drill-ready copper-gold-molybdenum project located in British Columbia's prolific Toodoggone district, a region known for both significant porphyry copper-gold and epithermal gold-silver deposits. Drilling at NIV commenced on June 29, marking the start of a 6,000-metre program designed to test undrilled copper-gold porphyry targets. This 2026 program is the first-ever drill campaign at NIV, which hosts extensive and coincident soil geochemical, induced polarization (IP) and airborne magnetic anomalies, all in a favourable geological setting. The company's Highland Valley project is a second permitted, drill-ready asset, offering investors additional discovery upside and further copper exposure.

Metal Energy is supported by two major mining companies, each a 9.9-per-cent strategic investor. The company has a robust balance sheet of over $9-million and is fully financed for the entirety of its 2026 exploration programs.

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