Mr. Tony Reda reports

TECTONIC METALS SET TO LAUNCH INAUGURAL 2023 DRILL PROGRAM TO UNLOCK THE TIER-ONE POTENTIAL OF THE FLAT GOLD PROJECT

Tectonic Metals Inc. has provided the scope of the company's inaugural 2023 drill program for the Flat gold project in southwest Alaska. The planned 5,000-metre program will incorporate both oriented diamond and reverse circulation (RC) drilling in two phases with drilling expected to commence mid-August.

Tony Reda, president and chief executive officer of Tectonic, said: "Our inaugural 2023 drill program is all about unveiling the Tier 1 potential of the Flat gold project. Our first step is to conduct oriented diamond core drilling, uncovering valuable insights into the structural characteristics of gold mineralization at Chicken Mountain. With 55 historical drill holes all encountering gold mineralization, we're thrilled about the possibilities that lie ahead. Out of these, 25 drill holes ended in mineralization, highlighting the incredible depth potential at Chicken Mountain. Armed with this newfound structural data, we'll aim to target mineralization at depths that have yet to be explored. We'll also be deploying the RC drill to meticulously investigate the sprawling four-kilometre-long and almost one-kilometre-wide gold-in-soil anomaly at Chicken Mountain. We would like to express our gratitude to all the shareholders and stakeholders who have been instrumental in bringing us to this point. Their unwavering support has led us to this highly anticipated drill program at Flat."

2023 exploration program webcast

On Tuesday, July 18, 2023, Tony Reda, president and chief executive officer of Tectonic Metals, and Kevin Smith, founder and chief investment officer of Crescat Capital, will hold a webcast to discuss Crescat's expanded investment in Tectonic Metals and the coming 2023 exploration and drilling program.

The webcast will take place at 11 a.m. Pacific Time/12 p.m. Mountain Time/2 p.m. Eastern Time.

Phase 1 -- oriented diamond core drilling

Goals:

1. Define structural orientation of gold mineralization at Chicken Mountain;
2. Extend mineralization beyond 100-metre vertical depth at Chicken Mountain;
3. Discover gold within a brand new intrusion (Golden Apex/Chicken Mountain East).

Phase 1 with the oriented diamond drill is expected to commence mid-August with the following priority targets:

• Step down drilling along approximately 900 metres of the main Chicken Mountain trend beneath historical drill holes that returned highlights of 12.6 grams per tonne gold over 24.7 metres (including 211.3 grams per tonne gold over 1.4 metres), 0.55 gram per tonne gold over 141.7 metres, 1.27 grams per tonne gold over 31.7 metres and 1.52 grams per tonne gold over 45.7 metres; maximum expected hole depths of 400 metres are designed to test the mineralization to depth where historical drilling only averaged 96 metres vertical depth; diamond core orientation to yield additional information about the structural setting of mineralization to provide continuing exploration vectors;
• Flat hosts an 11-kilometre-long geophysical anomaly that suggests additional reduced intrusion-related gold systems may be present at Flat; drilling will test several of these anomalies:
  • Lateral drilling into the unexplored and undrilled flank of Chicken Mountain East;
  • Diamond drilling of Golden Apex, an interpreted buried intrusive under overlying volcanics.

Phase 2 -- strategic drill fences testing gold-in-soil anomaly

Goal -- demonstrate scale

Phase 2 with the RC drill is expected to commence mid-August to late August and will test a significant portion of the four-kilometre-long gold-in-soil anomaly at Chicken Mountain for near-surface bedrock mineralization through a series of focused drill fences across the anomaly. Much of the soil anomaly is currently untested by historic drilling.

The Flat gold project -- Alaska's next Tier 1 opportunity

Tectonic is currently assessing the Flat gold project in partnership with Doyon Ltd., one of Alaska's largest native regional corporations and a significant Tectonic investor. Between 1908 and 1966, approximately 1.4 million ounces of Placer Gold was produced in and around the Flat gold project. Chicken Mountain is credited as the primary source of this historic placer gold.

Tectonic is currently evaluating this target, which features a four-kilometre-long gold in-soil anomaly and 55 historic drill holes, all of which intersected and 25 of which ended in gold mineralization. Preliminary metallurgical analysis to date has demonstrated rapid leach kinetics and gold recoveries averaging 95 per cent from bottle-roll testing (see Tectonic's news release dated Feb. 16, 2023). This, combined with gold intersections at or near surface, suggest Chicken Mountain could represent an open-pit heap leach opportunity. Chicken Mountain is part of a larger geophysical anomaly that appears to represent an 11-kilometre-long intrusion-related gold system that incorporates the additional targets of Golden Apex and Chicken Mountain East.

About Tectonic Metals Inc.

Tectonic brings a highly disciplined capital allocation and development process to mineral exploration. By consistently limiting its focus to Tier 1 opportunities that fit its formula for mine economics and derisking projects up front, the team has established a tremendous record of success. Members of the Tectonic team have been directly involved in identifying and monetizing several significant gold discoveries throughout North America that have created a tremendous amount of value for shareholders and stakeholders.

Qualified person

Tectonic's disclosure of a technical or scientific nature in this press release has been reviewed, verified and approved by Peter Kleespies, MSc, PGeo, Tectonic's vice-president, exploration, who serves as a qualified person under the definition of National Instrument 43-101.

We seek Safe Harbor.