Mr. Patrick Cruickshank reports

NINE MILE METALS CLOSES OVERSUBSCRIBED FLOW THROUGH PRIVATE PLACEMENT

Nine Mile Metals Ltd. has closed the oversubscribed non-brokered flow-through private placement financing. The company issued 20 million units at a price of two cents per unit, for proceeds of $400,000. The original size announced was $250,000.

Each unit consists of one 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 five cents for a period of 36 months.

Proceeds will be used for exploration activities and related expenses on the company's NB critical minerals projects in the Bathurst mining camp.

Three current directors of the company participated in the flow-through private placement and purchased 2.25 million units for ($45,000). The company has relied on the exemptions from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101 in respect of such insider participation.

In connection with the offering, the company paid commissions of an aggregate of $8,000 and issued an aggregate of 400,000 compensation warrants. Each compensation warrant entitles the holder thereof to purchase one common share at a price of five cents for a period of 36 months.

The issuance of common shares will not result in a new insider or control person. The common shares and any common shares to be issued on exercise of the warrants are subject to a hold period under applicable Canadian securities laws expiring four months and one day from the date of issuance of the units.

Patrick J. Cruickshank, chief executive officer and director, stated: "We are pleased to have closed this funding, including a strategic investor, and we are organizing the mobilization of our previously announced drill program at the Wedge critical mineral project."

About Nine Mile Metals Ltd.

Nine Mile Metals is a Canadian public mineral exploration company focused on critical minerals exploration (CME) VMS (volcanogenic massive sulphide) (Cu (copper), Pb (lead), Zn (zinc), Ag (silver) and Au (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: the Nine Mile Brook VMS; California Lake VMS; Canoe Landing Lake (East-West) VMS and Wedge VMS projects. The company is focused on critical minerals exploration (CME), positioning for the boom in EV (electric vehicle) and green technologies requiring copper, silver, lead and zinc with a hedge with gold.

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, vice-president of exploration and director, who acts as the company's qualified person and is not independent of the company.

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