Mr. Gabi Kabazo reports

STARMET VENTURES INC. ANNOUNCES EXTENSION OF PRIVATE PLACEMENT CLOSING DATE

Further to the news release of Feb. 3, 2025, Starmet Ventures Inc. has extended its previously announced non-brokered private placement to raise up to $2-million through the issuance of up to 40 million units of the company at a price of five cents per unit.

Each unit will consist of one common share in the capital of the company and one common share purchase warrant of the company. Each warrant will entitle the holder to purchase one common share in the capital of the company for a period of 36 months from the date of issue at an exercise price of five cents per warrant share.

To provide sufficient time for additional investors to participate in the private placement, the company has extended the closing date of the private placement previously scheduled for March 3, 2025, to on or about, but no later than, April 1, 2025.

The net proceeds from the offering will be used for general working capital purposes. Finders' fees may be payable in respect of some subscriptions received under the offering.

Closing of the private placement is subject to regulatory approval, including the acceptance of the Canadian Securities Exchange. All shares to be issued pursuant to the private placement will be subject to a statutory hold period of four months from the date of issuance.

The company is subject to Section 4.6(2)(a) of CSE Policy 4 (Corporate Governance, Security Holder Approvals and Miscellaneous Provisions) with respect to the requirement to obtain securityholder approval of such transaction whereby the company is issuing more than 100 per cent of its issued share capital. The company is relying on written resolutions pursuant to Section 4.6(1)(b) of CSE Policy 4 to satisfy the securityholder approval requirement.

About Starmet Ventures Inc.

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

We seek Safe Harbor.