Mr. Stephane Leblanc reports

QNB METALS ANNOUNCES $500,000 NON-BROKERED PRIVATE PLACEMENT AND 2024 OBJECTIVES

QNB Metals Inc. intends to complete a non-brokered private placement of a maximum of 500 units of the corporation at a price of $1,000 per unit for aggregate gross proceeds of $500,000. Each unit will consist of 16,000 common shares in the capital of the corporation on a flow-through basis and 4,000 common shares in the capital of the corporation, each at a deemed price of five cents per share.

The net proceeds from the private placement will be used for general exploration and working capital. In connection with the private placement, the corporation may pay finders' fees to eligible finders. All securities issued in connection with the private placement will be subject to a statutory hold period of four months and a day from their issuance.

Completion of the private placement is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including acceptance of the Canadian Securities Exchange (the CSE).

2024 objectives

In 2024, QNB intends to focus on advancing the Kingsville salt deposit, in Nova Scotia, objectives include:

• Review exploration data and analyze the potential of developing salt caverns;
• Develop a 3-D geological model and calculate the amount of product that can be stored in the salt caverns at the corporation's flagship Kingsville salt deposit property in Nova Scotia, Canada;
• Conduct a high-level market review of the CO2 (carbon dioxide), hydrogen and compressed air energy storage markets;
• Initiate drilling campaign to confirm historical resource and complete a National Instrument 43-101 resource estimate;
• Initiate quarry permitting process with objective of launching production and sales in near term;
• Complete PEA (preliminary economic assessment) on mining operations scale-up.

Near-term focus

Negotiate:

• Quarry operating contract;
• Product and side-product contracts and offtake agreements;
• Identify strategic partners;
• Establish logistics and shipment routes;
• Acquire additional world class salt deposits with a focus on Quebec opportunities.

About the Kingsville salt deposit

The Kingsville salt deposit is accessed by traveling the Trans-Canada Highway for 20 kilometres north from Port Hawkesbury/Point Tupper (Strait of Canso Port). The Trans-Canada Highway crosses the property lengthwise from South to North.

The Strait of Canso, which is home to the Point Tupper Heavy Industrial Park, has the finest deep water, ice-free and dredge-free harbour on the East Coast of North America with superior wharf facilities. It is strategically located on established international and coastal shipping lanes. In fact, its location on the Great Circle Atlantic shipping route is well situated to Eastern North America and the Great Lakes, as well as Trans-Atlantic.

About QNB Metals Inc.

QNB Metals is an exploration and development company focused on leveraging its assets for salt mining, hydrogen and energy cavern storage, and carbon capture sodium batteries.

The corporation extends its best wishes to all QNB stakeholders for 2024.

We seek Safe Harbor.