Mr. Lawrence Roulston reports

MTB ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT

MTB Metals Corp. has closed a non-brokered private placement for gross proceeds of $344,000 through the issuance of 6.35 million flow-through units at a price of four cents per FT unit and 2.25 million non-flow-through units at a price of four cents per NFT unit.

Each NFT unit consists of one common share in the capital of the company and one share purchase warrant. Each NFT unit warrant entitles the holder thereof to purchase one share for a period of 24 months from the date of issuance at an exercise price of eight cents per NFT unit warrant share.

Each FT unit consists of one flow-through common share in the capital of the company that will qualify as a flow-through share within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and one-half of one share purchase warrant. Each FT unit warrant entitles the holder thereof to purchase one share for a period of 18 months from the date of issuance at an exercise price of eight cents per FT unit warrant share.

The offering remains subject to final acceptance from the TSX Venture Exchange. All securities issued in connection with the offering are subject to a four-month hold period from the closing date under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside of Canada.

The company intends to use the gross proceeds raised from the sale of FT units for exploration on the company's Telegraph porphyry copper-gold project in British Columbia's Golden Triangle. The gross proceeds from the sale of NFT units will be used for working capital and general corporate purposes.

Lawrence Roulston, president and chief executive officer, commented: "We continue to work toward securing joint venture partners for our six exploration projects in British Columbia's Golden Triangle. The focus this year will again be on the Telegraph porphyry copper-gold project. Work last year, including drilling, was successful in outlining a 3.5-kilometre mineralized porphyry trend. Further drilling is needed to delineate that system."

Lucia Theny, vice-president of exploration, stated: "The objective this year will be to improve the understanding of the overarching geological architecture of the property with a focus of collecting isotopic ages of the numerous intrusions, conducting advanced analytical techniques with a focus on trace element lithogeochemistry and evaluating the structural complexity of the property. The geological team is working closely with the mineral deposit research unit at the University of British Columbia. This work is expected to help refine drill targets for the future exploration programs."

Lawrence Roulston, chief executive officer, president and a director of the company, Rene Bernard, a director of the company, and Mark Brown, a director of the company, purchased or acquired direction or control over a total of 1.5 million NFT units and 1,625,000 FT units as part of the offering. The placement to the interested parties constitutes a related-party transaction within the meaning of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). Notwithstanding the foregoing, the directors of the company have determined that the interested parties' participation in the offering will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 in reliance on the exemptions set forth in sections 5.5(a) and 5.7(1)(a) of MI 61-101. The company did not file a material change report 21 days prior to the closing of the offering as the details of the participation of interested parties had not been confirmed at that time.

About MTB Metals Corp.

MTB has six active projects spanning 580 square kilometres in the prolific Golden Triangle of Northern British Columbia. With the focus on the Telegraph project, discussions are under way, leading to joint ventures and/or spinouts of other projects.

1. 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 (Newmont/Imperial Metals). Fieldwork, including drilling, by MTB on its 344-square-kilometre property, together with earlier results, provides compelling evidence for the presence of one or more porphyries, similar to the others in the area. Assay are pending from four drill holes.
2. 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.
3. Red Cliff is a past-producing gold and copper mine in which the company holds a 35-per-cent interest. Recent drill results include two metres of 26 grams per tonne gold.
4. 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. Drilling in October on the George Copper zone encountered copper mineralization, with assays pending.
5. 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.
6. 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.

We seek Safe Harbor.