Ms. Liz MacKenzie reports

METALO MANUFACTURING INC. : MEDIA RELEASE

At a special meeting of the board, Metalo Manufacturing Inc. has advised of the previous filings pertaining to the United States legal disputes against Metalo Manufacturing, Grand River Ironsands Inc. and Francis MacKenzie, as it relates to Forks Special Metals Inc., have been dismissed. One dispute remains and a response from North Atlantic Iron Corp. was filed on June 20, 2023.

Today's issuance of options to insiders totalling 1,145,000 (5.4 per cent of shares issued) for release as per the share option plan (approved by shareholders in 2017 and reapproved in 2022) at a price of 25 cents per share for a period of five years.

The CSE's Form 11 is available under the issuer's profile on SEDAR and on the CSE.

About Metalo Manufacturing Inc.

Metalo is a 44-per-cent shareholder of Grand River Ironsands (GRI). GRI owns a 100-per-cent interest in Pure Fonte Ltee (pig iron production). GRI owns 90 per cent of Labrador Sands Inc. which owns the mining rights for a resource near Happy Valley-Goose Bay, Nfld. Continuing discussions pertaining to the financing of the pig iron project, and separately the mineral sands remain active and continuing.