Mr. Lawrence Roulston reports

MTB ENGAGES INVESTOR RELATIONS FIRM; GRANT OF STOCK OPTIONS AND RSUS

MTB Metals Corp. has retained Simone Capital Corp. in the capacity of investor relations and capital markets advisory.

Simone Capital will leverage its proprietary database to engage and co-ordinate road shows with retail brokers, portfolio managers, analysts and individual investors on the company's behalf. Simone Capital is located in Toronto, Ont., and principally owned and operated by Anthony Simone and Matthew Benedetto. In consideration for the services, Simone Capital will be paid $13,000 per quarter and granted 400,000 options. The term for this agreement is three months with an automatic extension for three additional three-month terms subject to termination on a 30-day notice. Other than the retainer payable under the agreements, the company does not anticipate any costs related to the engagement of Simone Capital.

The options granted to Simone Capital are exercisable at 12 cents per share for a five-year term. The options will vest as to one-fourth at the end of each three-month period commencing Oct. 7, 2023.

The company also announces the grant of stock options to directors, employees, advisers and consultants for an aggregate of 1.56 million shares at an exercise price of 12 cents for a term of five years.

In addition, the company has granted restricted share units (RSUs) to directors, employees, advisers and consultants for an aggregate of 2,825,000 shares. The RSUs will vest after 12 months.

About MTB Metals Corp.

MTB has six active projects spanning 670 square kilometres (67,587 hectares) in the prolific Golden Triangle of Northern British Columbia. With the focus on the Telegraph project, discussions are now under way, leading to joint ventures and/or spinouts of other projects.

Telegraph is located in the vicinity of four world-class porphyry deposits being advanced by major mining companies: Galore (Teck/Newmont), Schaft (Teck), Saddle (Newmont) and the operating Red Chris copper-gold mine (Newcrest). Fieldwork by MTB on its 310-square-kilometre property, together with earlier results, provides compelling evidence for the presence of one or more porphyries, similar to others in the area.

The American Creek project is centred on the historic Mountain Boy silver mine. The project is road accessible and 20 kilometres from the deepwater port of Stewart. There are multiple silver, gold and copper occurrences on the property, including a 2006 drill hole that encountered five kilograms of silver over five metres. Red Cliff is a past-producing gold and copper mine in which the company holds a 35-per-cent interest.

On the BA property, 182 drill holes have outlined a substantial zone of silver-lead-zinc mineralization located four kilometres from the highway. Several targets with high-grade silver potential remain to be tested. Surprise Creek, to the north, hosts the same prospective stratigraphy.

On the Theia project, work by MTB and previous explorers has outlined a silver-bearing mineralized trend 500 metres long, highlighted by a 2020 grab sample that returned 39 kilograms per tonne silver (1,100 ounces per ton). Two other zones on the property produced copper values over 5 per cent.

Southmore is in the midst of some of the largest deposits in the Golden Triangle. It was explored in the 1980s through the early 1990s and was overlooked until MTB consolidated the property and carried out airborne geophysics and fieldwork, which confirmed several zones of gold and copper, with values up to 20 per cent copper and 35 grams per tonne gold.

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