Mr. Charles MaLette reports

NINE MILE METALS CLOSES PRIVATE PLACEMENT FINANCING

Nine Mile Metals Ltd. has completed a non-brokered private placement for proceeds of $493,875 from the issuance of 4,675,910 units of its securities. Of the units, 4,090,910 are flow-through units at a price of 11 cents per flow-through unit and 585,000 are non-flow-through units at a price of 7.5 cents per non-flow-through unit.

Each flow-through unit consists of one flow-through common share of the company and one-half of one common share purchase warrant, with each flow-through warrant entitling the holder thereof to purchase one common share at a price of 13 cents for a period of 24 months. Each non-flow-through unit consists of one common share of the company and one-half of one common share purchase warrant, with each non-flow-through warrant entitling the holder thereof to purchase one common share at a price of 11 cents for a period of 24 months.

In consideration for their services in introducing subscribers to the company under the private placement, finders and brokers received 327,272 common share purchase warrants, exercisable to purchase one common share at a price of 13 cents for a period of 24 months, and cash of $36,000.

The company intends to use the net proceeds of the flow-through private placement to carry out the current and intended work programs on its Wedge and California Lake 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). The net proceeds of the non-flow-through private placement will be used for general working capital.

No related parties participated in and no new control persons were created by the private placement.

All securities issued in the private placement 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 volcanogenic massive sulphide (copper, lead, zinc, silver and gold) exploration in the renowned Bathurst mining camp (BMC), located in New Brunswick, Canada. The company's primary business objective is to explore its four VMS projects: the Nine Mile Brook VMS project, the California Lake VMS project, the Canoe Landing Lake (East-West) VMS project and the Wedge VMS project. The company is focused on critical mineral exploration, positioning itself for the boom in EV (electric vehicle) and green technologies requiring copper, silver, lead and zinc with a hedge on gold.

We seek Safe Harbor.