Mr. Tony Reda reports

TECTONIC METALS ANNOUNCES DRILLING ON THE FLAT GOLD PROJECT AND PROVIDES CORPORATE UPDATE

Tectonic Metals Inc. has commenced drilling at the Flat gold project.

"Although initially hampered by weather delays, we are thrilled to announce that diamond drilling is well under way with drill core in hand. I would like to applaud our team for doing an exceptional job in working through challenging conditions to mobilize our people, equipment, fuel and the diamond drill to site safely," stated Tony Reda, president and chief executive officer of Tectonic. "With the diamond drill producing core, we have embarked on arguably the most important aspect of our 2023 drill program. Oriented diamond drilling to 400 metres of depth will help us define the structural characteristics of gold mineralization and determine if mineralization intensifies further down into the reduced intrusion-related gold system at Chicken Mountain."

Corporate update -- AGM (special and annual general meeting) resolution on share consolidation

As required by the TSX Venture Exchange, Tectonic confirms that, as part of the coming special and annual general meeting on Sept. 21, 2023, the company has included a resolution in the AGM management information circular to enable, but not require, the company to enact a share consolidation of one postconsolidation common share for up to 20 preconsolidation common shares. The company has no current plans to enact a share consolidation. The resolution's intent is simply to maintain optionality in the event a consolidation is in the best interest of shareholders.

About the Flat gold project

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 were 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. Highlight intersections from this historical drilling include 12.56 grams per tonne gold over 24.7 metres, 211 grams per tonne gold over 1.4 metres, 0.98 gram per tonne gold over 76 metres, 1.36 grams per tonne gold over 36.6 metres and 5.62 grams per tonne gold over 7.6 metres.

Preliminary metallurgical analysis to date has demonstrated rapid leach kinetics and gold recoveries averaging 95 per cent from bottle-roll testing. This, combined with gold intersections at or near surface, suggests 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 their 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.