Mr. Harry Barr reports

NEW AGE METALS ANNOUNCES EFFECTIVE DATE OF SHARE CONSOLIDATION

Further to New Age Metals Inc.'s news release dated Aug. 20, 2024, the company has received TSX Venture Exchange approval to implement the consolidation of its common shares on the basis of four preconsolidated shares for one new postconsolidated share. Effective at the opening of the market on Aug. 26, 2024, the postconsolidated shares will begin trading under the symbol NAM.

The company will not be issuing fractional shares as a result of the consolidation. Instead, all fractional postconsolidated shares equal or greater than one-half will be rounded to the next whole share. The postconsolidated shares will be assigned a new Cusip number 64157G200 and ISIN CA64157G2009.

The consolidation was approved by the board of directors on Aug. 12, 2024. Pursuant to the Business Corporations Act (British Columbia) and the articles of the company, shareholder approval of the consolidation is not required.

A letter of transmittal will be sent to the registered shareholders providing instructions to surrender the share certificates evidencing their preconsolidated common shares for replacement certificates of New Age representing the number of postconsolidated common shares they are entitled to as a result of the consolidation. Until surrendered, each certificate representing the preconsolidated common shares will be deemed to represent the number of postconsolidated common shares of New Age Metals that the holder thereof is entitled to as a result of the consolidation.

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 element division and a lithium/rare element division.

The platinum group metals division includes the 100-per-cent-owned, multimillion-ounce, district-scale River Valley project, one of North America's largest undeveloped platinum group element projects, situated 100 kilometres by road east of Sudbury, Ont. In addition to River Valley, New Age Metals owns 100 per cent of the Genesis platinum-group-element/copper/nickel project in Alaska and plans to complete a surface mapping and sampling program in 2023.

The company's lithium division is one of the largest mineral claim holders in the Winnipeg River pegmatite field, where the company is exploring for hard rock lithium and various rare elements such as tantalum, rubidium and cesium. In conjunction with its farm-in/joint venture agreement with Mineral Resources Ltd. (MinRes) is pleased to announce that summer field work has commenced on the company's Winnipeg River-Cat Lake Lithium Projects of Southeast Manitoba. This work is in conjunction with a research project being carried out across the properties in partnership with the University of New Brunswick, University of British Columbia and supported by the Manitoba Geological Survey. A budget from June, 2024, to April, 2025, of approximately $450,000 has been approved by Mineral Resources Ltd., a top global lithium producer to explore and develop the company's lithium project portfolio in Southern Manitoba. The company's philosophy is to be a project generator with the objective of optioning its projects with major and junior mining companies through to production.

The company is actively seeking an option/joint venture partner for its newly acquired Northman and South Bay lithium projects in Northern Manitoba, and its road-accessible Genesis PGE-Cu-Ni (platinum group element-copper-nickel) project in Alaska.

We seek Safe Harbor.