Mr. Charles MaLette reports

NINE MILE METALS CLOSES 1ST TRANCHE OF $1,500,000 PRIVATE PLACEMENT

Nine Mile Metals Ltd. has completed the first tranche of a private placement of up to $1.5-million. The company issued 5,625,000 flow-through units at a price of 20 cents per unit for proceeds of $1,125,000.

Each unit consists of one flow-through common share of the company and one-half of one common share purchase warrant, with each full 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 an aggregate of 420,000 common share purchase warrants, each exercisable to purchase one common share at a price of 23 cents for a period of 24 months and cash of $84,000.

The proceeds raised through the offering will be used to carry out drilling and exploration work programs on its four VMS properties in New Brunswick, Canada. All securities issued in the offering are subject to a four-month hold period.

About Nine Mile Metals Ltd.

Nine Mile Metals is a Canadian public mineral exploration company focused on critical minerals exploration (CME) volcanogenic 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 critical minerals exploration, positioning for the boom in electric vehicle and green technologies requiring copper, silver, lead and zinc with a hedge with gold.

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