Mr. Patrick Cruickshank reports

NINE MILE METALS FLOW THROUGH FINANCING

Nine Mile Metals Ltd. intends to complete a flow-through (FT) private placement for proceeds of up to $1-million.

The FT private placement will consist of the sale of up to 3,125,000 FT units at 32 cents each. Each FT unit will comprise one common share, issued on a flow-through basis and one common share purchase warrant, issued on a non-flow-through basis. Each warrant will entitle the holder thereof to acquire one common share in the capital of the company at a price of 42 cents per common share for a period of 24 months from date of issuance. The FT shares are intended to qualify as flow-through shares within the meaning of Subsection 66(15) of the Income Tax Act (Canada).

In consideration for their services in introducing subscribers to the company under the FT private placement, finders may receive commission of 7 per cent in cash and 7 per cent in common share purchase warrants, exercisable to purchase one common share at a price of 42 cents for a period of 24 months.

The company intends to use the net proceeds of the FT private placement to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures (as both terms are defined in the Income Tax Act (Canada)) related to the company's properties located in New Brunswick, Canada, on or before Dec. 31, 2023.

All securities issued in the FT private placement will be subject to a four-month-and-one-day hold period.

About Nine Mile Metals Ltd.

Nine Mile Metals is a Canadian public mineral exploration company focused on VMS (volcanic massive sulphide) (copper, lead, zinc, silver and gold) exploration in the world-famous Bathurst mining camp, New Brunswick, Canada. The company's primary business objective is to explore its three VMS projects: Nine Mile Brook VMS project; California Lake VMS project; and the Canoe Landing Lake (east-west) VMS project. The company is focused on exploration of minerals for technology (MFT), positioning for the boom in EV (electric vehicle) and green technologies requiring copper, silver, lead and zinc with a hedge with gold.

We seek Safe Harbor.