Mr. Darren Collins reports

SHEEP CREEK CARBONATITES ASSAY UP TO 20.1% TREE AND 363PPM GALLIUM

U.S. Critical Metals Corp. and U.S. Critical Materials Corp. (collectively, the partners) have released the results for the surface sampling completed at the Sheep Creek rare-earth project in southwestern Montana. The partners received analytical results for 69 samples including 43 grab/rock chip samples and 26 rock channel samples. The channel samples range from one to nine feet in width. Samples were analyzed by Activation Laboratories (Actlabs), located in Ancaster, Canada.

The sample results were assayed multiple times to confirm the presence of gallium (Ga), a highly sought-after and strategic mineral in the United States. The U.S. currently imports 100 per cent of its gallium and China controls about 98 per cent of the global market for gallium. Gallium is used for semiconductors, 5G technology, smart phones, satellite systems, critical photonics technologies and military radar systems. The list of critical minerals identifies gallium as a U.S. supply risk.

Highlights from the surface sampling program:

• Detection of up to 363 parts per million Ga with an average of 93 ppm Ga for 69 samples;
• Continued confirmation of high rare-earth element values at Sheep Creek distributed over a broad area as shown in the historic and current sample results;
• Samples revealed rare earth mineralization with grades including:
  • Sample No. 21112: 201,216 ppm (20.1 per cent) total rare-earth elements (TREE), containing 28,330 ppm (2.8 per cent) combined neodymium and praseodymium (Nd+Pr) and 363 ppm Ga;
  • Sample No. 21099: 182,255 ppm (18.2 per cent) TREE, containing 32,750 ppm (3.3 per cent) combined Nd+Pr and 348 ppm Ga.
• Sample results identify multiple zones of surface mineralization and select samples reveal new zones hosting exploration potential.

The sampling covered areas proximal to the underground workings developed in the late 1950s for niobium mineralization by the Continental Columbium Company along with new carbonatite exposures north, south and west of the historic workings. The historic workings and property have not been previously evaluated for rare-earth mineralization or gallium.

Management commentary

James Hedrick, president of U.C. Critical Materials, comments: "In addition to the neodymium and praseodymium present at Sheep Creek, the detection of gallium represents a significant exploration success and has the potential to become domestic source of this critical mineral for the U.S. We are currently evaluating various extraction methods for these elements and look forward to further assessing their economic potential."

Darren Collins, chief executive officer and director of U.S. Critical Metals, comments: "Sheep Creek continues to demonstrate scale and grade potential. The widespread carbonatite exposures are likely related to a shared source at depth. We will continue to work with U.S. Critical Materials as joint venture partners to realize value from our investments and will share further updates relating to this asset in due course."

U.S. Critical Metals has also granted an aggregate of 150,000 stock options to a consultant of the company pursuant to the term of the company's stock option plan. The options vest on the date of grant and entitle the holder to purchase common shares of the company at a price of 15 cents for a period of five years from the date of grant. The options bear a hold period of four months and one day from the date of issuance in accordance with policies of the Canadian Securities Exchange.

Quality assurance and quality control

The samples were analyzed by Actlabs, located in Ancaster, Canada. Actlabs is an independent ISO/IEC 17025 certified laboratory. Internal standards and blanks were inserted for all REEs and major elemental oxides. Additional standards were inserted by the partners and are in good agreement with the standard's certified values. All samples were ground to 95 per cent minus 200 mesh to ensure complete fusion with lithium metaborate/tetraborate and analyzed by inductively coupled plasma optical emission spectroscopy and inductively coupled plasma mass spectrometry. The zirconium-niobium-tantalum-hafnium are semi-quantitative owing to P2O5 (phosphorus pentoxide) values in excess of 0.3 per cent.

Additional information relating to Actlabs' analytical and testing procedures can be found on the Actlabs website. Actlabs' quality system monitors all steps and phases of the operations. The quality assurance program covers all areas of sample transportation, collection, preparation, analysis and data reporting.

Qualified person statement

In June, 2022, Robert J. Johansing, BSc (geology), MSc (economic geology), who is an independent qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, visited the carbonatites at Sheep Creek to confirm the geologic environment and the presence of the noted mineralization. At that time, the QP recommended detailed mapping and sampling over the carbonatites and in the historical mine workings along with reconnaissance-type activities. The QP is not aware of any mineral resource estimates on Sheep Creek. The scientific and technical information contained in this news release has been reviewed and approved by the QP. This included a review of the lab results and certificates. Mr. Johansing is a consultant for the company.

Project overview

Sheep Creek is located in Ravalli county, southwest Montana. Sheep Creek spans 223 lode claims representing approximately 4,500 acres of total land package. The claims are on multiple-use ground administered by the U.S. Forest Service. Exploration activities performed by U.S. Critical Materials and conducted in late 2021 have identified more than 50 carbonatite dikes in the Sheep Creek exploration area. The carbonatites are up to three metres wide and can be followed for more than 300 metres along strike. The dikes are valuable for their contained light rare earth elements and other strategic metals.

About U.S. Critical Metals Corp.

U.S. Critical Metals is focused on mining projects that will further secure the U.S. supply of critical metals and rare-earth elements, which are essential to fuelling the new-age economy. Pursuant to option agreements with private Canadian and American companies, U.S. Critical Metals' assets consist of four agreements, each providing it with the right to acquire interests in five discovery-focused projects in the U.S. These projects include the Clayton Ridge lithium project located in Nevada, the Sheep Creek rare-earth project located in Montana, the Haynes cobalt project located in Idaho, the Lemhi Pass rare-earth project located in Idaho and the Long Canyon uranium project located in Idaho. A significant percentage of the world's critical metal and rare-earth supply comes from nations with interests that are contrary to those of the U.S. The company intends to explore and develop mineral resources with near- and long-term strategic value to the advancement of U.S. interests.

We seek Safe Harbor.