Mr. Kosta Tsoutsis reports

M3 METALS GRANTED OPTION TO ACQUIRE LAKSHMI PROPERTY PROSPECTIVE FOR LITHIUM

M3 Metals Corp. has entered into a mineral property option agreement to acquire up to an 80-per-cent interest in the Lakshmi property, a mineral property prospective for lithium and located in California.

The agreement, dated effective May 8, 2023, is between the company and IMEx Consultants Inc. The agreement provides that the company can earn a 60-per-cent interest in the Lakshmi property by (i) issuing two million shares to the vendor and paying to the vendor the sum of $150,000 (U.S.) upon regulatory approval of the agreement; and (ii) making $400,000 (U.S.) in exploration expenditures on the Lakshmi property within 12 months of regulatory approval of the agreement.

The company can acquire an additional 20-per-cent interest in the Laskshmi property by issuing an additional two million shares to the vendor and making an additional $2-million (U.S.) in exploration expenditures on the Lakshmi property within 36 months of regulatory approval of the agreement.

The agreement is subject to the regulatory approval of the TSX Venture Exchange. The transactions contemplated in the agreement constitute a fundamental acquisition (as that term is defined in the policies of the exchange) and, as such, require completion of a technical report on the Laskshmi property prior to receipt of regulatory approval. No finders' fees are payable in connection with the agreement and the agreement is an arm's-length transaction. There are no royalties or underlying option or other agreements related to the Lakshmi property.

The Lakshmi properties comprise 96 staked BLM (Bureau of Land Management) and county-registered lode mining claims covering 2,641 acres (761 hectares). The claims encompass a nine-kilometre strike length of exposed Barstow formation clay-rich sediments containing anomalous levels of lithium.

Trading in the shares of the company will remain halted on the exchange pending receipt and review by the exchange of acceptable documentation regarding the fundamental acquisition pursuant to Section 5.6(d) of Exchange Policy 5.3.

About M3 Metals Corp.

M3 Metals is a Canadian-listed company, focused on creating shareholder value through discoveries and strategic development of mineral properties in North America.

We seek Safe Harbor.