An anonymous director reports

REFINED METALS CORP. ANNOUNCES EFFECTIVE DATE OF SHARE CONSOLIDATION

Further to Refined Metals Corp.'s news release of Jan. 26, 2024, that the consolidation of its issued and outstanding common shares on the basis of one postconsolidation common share for every two currently outstanding common shares will take place effective market open on Feb. 15, 2024. At this time, the company's common shares will commence trading on the exchange on a postconsolidation basis.

On a preconsolidation basis, the company has 57,288,955 issued and outstanding common shares and, following the consolidation, the company expects to have 28,644,478 postconsolidation shares issued and outstanding. No fractional postconsolidation shares will be issued. If, as a result of the consolidation, a shareholder would otherwise be entitled to a fraction of a postconsolidation share, each fractional share following conversion that is at least one-half of a postconsolidation share will be rounded up to the nearest whole number and each fractional share that is less than one-half of a postconsolidation share will be cancelled. No cash consideration will be paid in respect of fractional shares.

The company's name and trading symbol will remain unchanged. The Cusip number for its postconsolidation shares will be 75867R203 and the ISIN for the postconsolidation shares will be CA75867R2037. Letters of transmittal describing the process by which shareholders may obtain new share certificates or direct registration system advices representing their postconsolidation shares will be mailed to registered shareholders. Shareholders who hold their shares through a broker or other intermediary and do not have shares registered in their name will not be required to complete a letter of transmittal. The letter of transmittal will also be filed under the company's profile on SEDAR+.

About Refined Metals Corp.

Refined Metals is a junior mining company dedicated to identifying, evaluating and acquiring interests in mineral properties in North America. The company's business is currently focused on the exploration and development of the Simard property, a prospective, exploration stage lithium property located in the Lac Simard region of Quebec. The company is also party to an option agreement in respect of the Horizon South property, a prospective, exploration stage lithium property located in Tonopah, Nev. The company continues to review other mineral properties in North America for possible acquisition in the future.

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