Mr. Mario Pezzente reports

MUSK METALS CORP. CORPORATE UPDATE

Musk Metals Corp. is changing its name to Germanium Mining Corp. to better reflect its business activities. The company's common shares will trade under the new name on the CSE with the new trading symbol, GMC. The company has also released the results of voting on all resolutions presented to its annual general and special meeting of shareholders held on March 3, 2025.

Mario Pezzente, chief executive officer, commented: "The new name, Germanium Mining Corp., reflects our commitment to advancing the exploration of highly prospective mining projects in world-class jurisdictions, with a strategic focus on germanium -- an increasingly vital element in modern technology. By strategically pivoting to this critical semiconductor metal, we align with the growing demand driven by advancements in fibre optics, infrared optics, high-efficiency solar cells and cutting-edge semiconductor applications essential for the future of telecommunications, renewable energy and defence industries."

Exploration program at Lac du Km 35 germanium property

The company plans to carry out a new and modern airborne survey for acquiring magnetic and electromagnetic data over the whole property. Prospecting and sampling will follow on the best anomalies with an emphasis on the Laganiere germanium showing area of approximately three kilometres by 1.5 kilometre. Due to excellent access and proximity to the mining town of Chibougamau, Musk expects an efficient and cost-effective exploration program. Diamond drilling will follow on the best identified targets soon after.

Property description

The Lac du Km 35 germanium property is approximately 40 kilometres east of the mining town of Chibougamau in the Nord-du-Quebec region of Quebec and has excellent access through Highway 167 and a main lumber road that transects the whole property from the west to the east as well as a network of secondary roads.

The property is underlain by the volcano-sedimentary sequence of the Roy group and its metamorphic equivalent, the Laganiere gneissic complex, which hosts the Lac Dore intrusive suite (which is a mafic-to-ultramafic stratiform and synvolcanic intrusion) and the later-stage Duberger felsic pluton; all these rock units belong to the northeastern portion of the Abitibi greenstone belt subprovince of Archean age. To the west of the property, rocks were metamorphosed at the greenschist facies, where the chlorite mineral is ubiquitous while the eastern portion has reached the amphibolite metamorphism grade.

A prominent structural element is the ductile Faribault shear zone (FSZ), oriented east-southeast and located toward the eastern part of the property. The FSZ dips to the south-southwest and ends to the Grenville front, which extends southwest-northeast for several hundreds of kilometres. The Grenville front separates the Abitibi greenstone belt from younger Mesoproterozoic rocks and is only a few kilometres to the east of the property. The FSZ is an important feature that could have been joined by other permeable zones at depth as a preferential conduit for hydrothermal fluids.

Discovered by government geologists in 1998 and never followed up, the Laganiere germanium showing consists of a peridotite outcrop within the Laganiere gneissic complex that comprises amphibolites and hornblende and biotite gneisses. The Laganiere showing returned a value of 0.02 per cent (186 parts per million) germanium and is currently the highest germanium value ever reported from an outcrop in the whole of Quebec.

The Laganiere germanium showing is located right alongside the main lumber road and immediately adjacent to the south to a cluster of electromagnetic anomalies of roughly 400 metres by 400 metres in size that were never tested. The Laganiere germanium showing is also 450 metres northeast of the FSZ, 800 metres from the southern margin of the Duberger felsic pluton and approximately two kilometres to the west of the Grenville front. Apart from regional mapping and sampling of government geologists, the Laganiere germanium showing area remains vastly underexplored and overlooked and constitutes the prime focus for Musk.

Recent exploration work performed in 2024, consisting of prospecting and sampling, allowed the company to collect 39 outcrop samples. Values up to 0.27 per cent nickel, 0.04 per cent cobalt, 0.24 per cent copper and 0.21 gram per tonne gold were obtained from these samples. The highest zinc value is 0.07 per cent and only three samples had overall zinc values over 0.05 per cent. Due to the digestion method selected, germanium values were deemed not reliable.

About germanium

Germanium is a hard, greyish and brittle metalloid that shares characteristics of both metal and non-metal properties. Germanium has many growing applications in electronics and solar, in fibre optics, and in infrared optics for civil and military uses. One of the growing and key applications for germanium is autonomous vehicle driving systems, where germanium is used for thermal imaging cameras and night vision devices.

China's share of germanium global output in 2024 was estimated between 70 per cent and 75 per cent. According to the U.S. Geological Survey (USGS) in a 2024 report, there is high degree of uncertainty regarding world primary production of germanium. In 2022, the USGS estimated that world production of primary germanium reached 210,000 kilograms while China's primary production capacity of germanium is 309,000 kilograms.

Germanium is in the list of critical metals in Canada, the United States and the European Union. Since Dec. 3, 2024, China, the largest producer of refined germanium, has banned germanium exports to the United States. Challenge will be securing new or alternative supplies of germanium. Germanium is not an openly traded commodity and recent spot prices have germanium over $4,000 (U.S.) per kilogram.

AGM results

A total of 12,782,138 common shares, or 31.6 per cent of the 40,446,520 issued and outstanding common shares of the company as at the record date of the meeting, were voted at the meeting by proxy.

The following matters were approved by the affirmative vote of the requisite majority of the votes represented at the meeting:

• Setting the number of directors of the company at four;
• Appointing Emily Sewell, Mario Pezzente, Benoit Moreau and Dennis Aalderink as directors;
• Appointing DMCL LLP as auditor of the company for the fiscal year ending March 31, 2025.

Benoit Moreau, PEng, a qualified person as defined by National Instrument 43-101, and vice-president of exploration for Musk Metals, is responsible for the technical information contained in this news release.

About Musk Metals Corp.

Musk Metals is a publicly traded exploration company focused on the development of highly prospective, discovery-stage mineral properties, located in some of Canada's top mining jurisdictions. The company's properties are in the Chapais-Chibougamau, Abitibi, Upper Laurentides, Temiscamingue, Chibougamau and James Bay regions of Quebec as well as the Golden Triangle district of British Columbia.

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