Mr. Harry Barr reports

NEW AGE METALS RECEIVES $ 300,000 GRANT FROM MANITOBA MINERAL DEVELOPMENT FUND

The Manitoba Mineral Development Fund (MMDF) has approved a grant of $300,000 for New Age Metals Inc. The allotment of this amount will be in three $100,000 instalments.

New Age Metals will provide MMDF/Manitoba government access to all information related to the project(s) activities performed, and expenditures incurred, directly or indirectly, for the entire amount of funding allocated to them.

The funding will be used for the following purposes as outlined in the previous press release (subject to change):

• Mapping -- complete updated property bedrock geology maps with detailed structural analysis of pegmatite distribution and internal zonation;
• Lithogeochemistry -- property-wide rock sampling to gather geochemical data on identified targets and develop future drill targets;
• Mobile metal ion (MMI) soil geochemistry -- targeted sampling grids to identify pegmatite extensions and anomalous areas where surficial cover prohibits bedrock analysis;
• Biogeochemistry -- targeted sampling grids to identify pegmatite extensions and anomalous areas where the terrain does not permit MMI soil sampling.

The summer field program is planned to better define historical documented showings and anomalous grab samples collected between 2018 and 2022, as well as to potentially locate buried LCT (lithium-cesium-tantalum) pegmatites. The main objective is to define and prioritize drill targets and bring additional projects to a drill-ready stage in an effort to establish an economically exploitable lithium deposit in close proximity to the Tanco mine.

The MMDF funding will be in addition to New Age Metals' $2-million preliminary budget approved by its partner Mineral Resources Ltd. (MinRes). An additional and final 2023/2024 budget has been submitted to MinRes and is expected to be approved in summer 2023.

On behalf of the New Age Metals board of directors and its shareholders, the company would like to thank Manitoba Mineral Development Fund for the grant, and it looks forward to putting this money to good use.

About New Age Metals Inc.

New Age Metals is a junior mineral exploration and development company focused on the discovery, exploration and development of green metal projects in North America. The company has two divisions: a platinum group metals division and a lithium/rare element division.

We seek Safe Harbor.