Dr. Jacob Verbaas reports

MIATA METALS DEFINES TARGET AREAS ON CABIN LAKE GOLD-SILVER PROJECT

Eternal Bioworks Corp. has defined target areas on its Cabin Lake gold-silver-lead-zinc project in British Columbia.

HighlightsAdditional target areas on Cabin Lake project defined VLF data will be inverted and processed to include in 3D target definition Target areas supported by high-grade rock samples

Miata Metals is pleased to announce additional target definition on the Cabin Lake gold-silver project. The Company has compiled historical results and collected geochemical and geophysical data in 2022 and 2023. The Company's geophysical data indicates that mineralization occurs in structures that yield positive IP anomalies and negative magnetic anomalies within the Cabin Lake Pluton, except where the structures underly skarnified (magnetic) volcanic rocks of the Kasalka Group and Endako Formation. The Company is currently processing VLF data collected in the field season of 2023 and will add that to its 3D target definition. The historical and collected data will be used to plan follow-up 3DIP and drilling. The geophysical data is expected to enable targeting of the mineralized structures at depth.

Targets supported by high grade silver and gold at surface

The geophysical targets are overlain by soil samples with values of up to 1.2% Pb and 1.3% Zn and are associated with values of silver of up to 50 g/t. The Company interprets these values as till anomalies which can be directly tracked to their source, located on the Cabin Lake claims. The targets are corroborated by 2018 rock sample results of up to 3.11 g/t Au, 1,108 g/t Ag, 25.4% Pb and 13.6% Zn. These rock sample results are historical in nature.

About the Cabin Lake Project

The Cabin Lake project is a road accessible project near the British Columbia town of Vanderhoof. The project is near the Coastal Link gas pipeline and high voltage transmission lines. Thanks to its favourable topography and road access, the project can be explored year-round.

The project has previously been explored for intrusive related gold and silver mineralization. Based on extensive compilation and research, as well as an effective 2022 exploration program including sampling, soil sampling and airborne geophysical surveying, the Company believes that the project is prospective for structurally hosted gold, silver, lead and zinc.

Share issuance

The Company has issued 20,576 common shares of the Company (the "Shares") at a deemed price of $0.243 per Share as an option payment pursuant to an option agreement for the Cabin Lake Property dated August 25, 2022. The Shares are subject to a statutory four-month hold period expiring on March 21, 2024, in accordance with applicable securities laws.

QAQC and Data VerificationAll results in this news release were collected by past operators and should be considered historical in nature and were not independently verified by the Company.

Qualified personDr. Thomas Hawkins, P.Geo. is a qualified person as defined by NI 43-101 and has reviewed the scientific and technical information in this news release, approving the disclosure herein.

About Miata Metals Corp.

Miata is a Canadian company listed on the Canadian Securities Exchange (CSE: MMET). The Company is a mineral exploration company focused on the acquisition, exploration, and development of mineral properties. Currently, the Company has an option to earn a 100% interest in the Cabin Lake Property in the Omineca Mining Division, British Columbia. The Company continuously evaluates opportunities to acquire interest in additional exploration stage mineral properties in stable jurisdictions.

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