Mr. Patrick Cruickshank reports

NINE MILE METALS TO ACQUIRE AN ADDITIONAL 10.78 SQ KMS OF STRATEGIC CLAIMS ADJACENT TO ITS CALIFORNIA LAKE AND NINE MILE BROOK VMS PROJECTS

Nine Mile Metals Ltd. entered into an agreement, dated Aug. 31, 2023, with Prospect Or Corp., to acquire an additional 10.78 square kilometres, consisting of 49 claim units, adjacent to its California Lake and Nine Mile Brook VMS (volcanogenic massive sulphide) projects in Bathurst mining camp (BMC), New Brunswick. This acquisition solidifies complete targeted trends identified last season and allows Nine Mile to launch complete exploration programs on these priority targets.

Patrick J. Cruickshank, chief executive officer and director, stated: "We are pleased to announce this strategic acquisition of priority claims in our regional portfolio within this highly prospective area in the BMC. The acquisition cements our holdings around the California-Wedge projects and, most importantly, we now hold the entire mineralized trend encompassing the VMS drilling last year at the California Lake project. As previously announced, we drilled eight drill holes with VMS mineralization present over 10-metre to 14 m widths. We now can proceed to explore the entire trend, and the source target identified with our technology due south of last year's drilling, culminating in a target on the Wedge project and these newly acquired claims. These new properties increase our footprint in the Nine Mile synform directly south of our Nine Mile Brook project and adjacent on the western boundary of our acquisition last year of the Windfall claims. Our leading-edge technologies have identified high-priority trends and specific targets that we now own 100 per cent, allowing us to address the entire geophysical trend. We look forward to future announcements on these two wholly owned target areas in our expanding portfolio in the BMC."

Pursuant to the agreement, the company intends to acquire the new claims for 300,000 common shares of the company, which will have a four-month hold legend. In addition, there is a 2-per-cent net smelter royalty (NSR) on the new claims derived from metallic mineral production. The company has the right to purchase 50 per cent of the 2-per-cent NSR from the vendors for $1-million at any time prior to commencement of commercial production. The vendor is at arm's-length from the company. Completion of the acquisition will take place on Sept. 14, 2023.

The disclosure of technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, and reviewed and approved by Gary Lohman, BSc, PGeo, director, who acts as the company's qualified person, and is not independent of the company.

About Nine Mile Metals Ltd.

Nine Mile Metals is a Canadian public mineral exploration company focused on critical minerals exploration (CME) VMS (copper (Cu), lead (Pb), zinc (Zn), silver (Ag) and gold (Au)) 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 critical minerals exploration, positioning for the boom in EV (electric vehicles) and green technologies requiring copper, silver, lead and zinc, with a hedge with gold.

We seek Safe Harbor.