Mr. Ohad David reports

STARMET VENTURES INC. ACQUIRES MINING CLAIMS LOCATED NEAR EAR FALLS, ONTARIO

Starmet Ventures Inc. has completed the previously announced acquisition of 302 mineral claims located near Ear Falls in the province of Ontario. The claims cover approximately 6,040 hectares. The claims are located between one kilometre and 16 kilometres (depending on the claim block) from Ear Falls, Ont., and are easily accessible year-round by way of well-maintained highway and logging roads and feature good outcrop exposure.

The claims are contiguous to Beyond Lithium Inc.'s (CSE: BY) recent spodumene discovery. On Sept. 17, 2023, Beyond Lithium announced that it had discovered a new spodumene bearing pegmatites zone at its Ear Falls project, along a structural controlled zone of over one km in strike length with grab samples assayed up to 4.54 per cent Li2O from spodumene pegmatites. The host rock for the spodumene pegmatites is the Wenasaga Lake batholith.

Regionally, the Wenasaga Lake batholith is described as a S-type pluton and is likely the plutonic source of the Sandy Creek beryl pegmatites located on the Beyond Lithium claims. The batholith was mapped concordant to the Uchi-English River subprovincial boundary covering approximately 260 square kilometres in area. The Sandy Creek beryl-bearing pegmatites were noted to follow this regional foliation orientation of the host metasedimentary rock. This regional northeast structure is an ideal host and fluid pathway for the formation and fractionation of LCT pegmatites. The Sandy Creek beryl pegmatites are located seven km southwest of the new Beyond Lithium Inc.'s spodumene pegmatites zone. They were discovered in the early 1960s and very limited to no exploration work has been done in that area since their discovery. The results from the adjacent Beyond Lithium property are not necessarily indicative of the mineralization on Starmet's properties.

Ohad David, chief executive officer of Starmet, commented: "We had been following the recent success of many lithium exploration companies in Ontario for quite some time. We are pleased to have secured a meaningful land position adjacent to the recent spodumene-bearing pegmatite discovery announce by one of the preeminent exploration companies in Ontario." He added, "We will shortly be formalizing plan to send a technical team to our properties and commence an initial exploration phase."

Qualified person

The scientific and technical information in this news release has been reviewed and approved by Steven L. McMillin, CPG. Mr. McMillin, CPG, is a qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About Starmet Ventures Inc.

Starmet Ventures' principal business activities include the exploration of mineral resource properties with an emphasis on the property located in Esmeralda county, Nevada. Starmet's objective is to identify and develop economic mineral resource properties of merit and to conduct exploration programs thereon.

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