Mr. Charles MaLette reports

NINE MILE METALS CLOSES 1ST TRANCHE OF $400,000 PRIVATE PLACEMENT

Nine Mile Metals Ltd. has completed the first tranche of a private placement of up to $400,000. The company issued 1,666,667 flow-through units at a price of 15 cents per unit for proceeds of $250,000.

Each unit consists of one flow-through common share of the company and one common share purchase warrant, with each warrant entitling the holder thereof to purchase one common share at a price of 23 cents for a period of 24 months.

In consideration for their services in introducing subscribers to the company under the private placement, finders received 116,667 common share purchase warrants, exercisable to purchase one common share at a price of 23 cents for a period of 24 months and cash of $17,500.

The proceeds raised through the offering will be used to carry out the current recommended work programs on its other properties in New Brunswick, Canada. This will include exploration and drilling on its Wedge and Canoe Landing properties and exploration on its California Lake property on or before Dec. 31, 2023. All securities issued in the offering are 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 critical minerals exploration (CME) volcanic massive sulphide (VMS) (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 four VMS projects: Nine Mile Brook VMS; California Lake VMS; Canoe Landing Lake (east-west) VMS; and the new Wedge VMS projects. The company is focused on CME, positioning for the boom in electric vehicle (EV) and green technologies requiring copper, silver, lead and zinc with a hedge with gold.

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