Mr. Charles MaLette reports

NINE MILE METALS ANNOUNCES FLOW THROUGH FINANCING

Nine Mile Metals Ltd. has set the terms of a new flow-through (FT) private placement.

The FT private placement will consist of the sale of up to 2.5 million FT units at 20 cents each, for gross proceeds of up to $500,000. Each FT unit will comprise one common share, issued on a flow-through basis, and one-half common share purchase warrant, issued on a non-flow-through basis. Each full warrant will entitle the holder thereof to acquire one common share in the capital of the company at a price of 23 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 8 per cent in cash and 8 per cent in common share purchase warrants, each exercisable to purchase one common share at a price of 23 cents for a period of 24 months.

No related parties intend to participate in and no new control persons will be created by the FT private placement.

The company intends to use the net proceeds of the FT private placement to carry out the current and intended drilling programs on its California Lake and Wedge properties, respectively. This work will be eligible as Canadian exploration expenses that qualify as flow-through mining expenditures as both terms are defined in the Income Tax Act (Canada).

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 critical minerals exploration (CME) 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 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 EV (electric vehicle) and green technologies requiring copper, silver, lead and zinc with a hedge with gold.

We seek Safe Harbor.