Mr. Reagan Glazier of Neotech reports

NEOTECH METALS SIGNS DEFINITIVE AGREEMENT FOR THE HECLA-KILMER PROJECT FROM VR RESOURCES

Neotech Metals Corp. has signed a definitive agreement with VR Resources Ltd. to acquire the right, title and interest in the rare earth element, niobium and phosphate project in Northeastern Ontario, consisting of 224 unpatented mining claims covering 4,617 hectares in Northern Ontario, and referred to as the Hecla-Kilmer property, subject to customary conditions.

Consideration for the acquisition consists of $600,000 in initial cash, payable by April 8, 2024, $400,000 in secondary cash payable on the closing date, which is expected to be April 26, 2024, or such other date as the parties may agree, and the issuance of four million common shares of the company issuable as to 500,000 shares on April 26, 2024; 1.5 million shares on April 26, 2025, 1.5 million shares on April 26, 2026, and 500,000 shares on Oct. 26, 2026. The common shares will be priced at the company's then market price. All shares will be subject to a statutory four-month-and-one-day hold period.

Reagan Glazier, chief executive officer of Neotech, commented, "This acquisition to our diversified rare earth element portfolio strengthens our position and highlights our commitment to shareholders in our endeavour to explore for transitional metals."

Project highlights

Hecla-Kilmer is an early-stage exploration project supported by world-class infrastructure. Situated in Northern Ontario, just 23 kilometres from the Otter Rapids hydroelectric power generating station, along with active rail and highways, making for cost-effective field programs, the project is poised for additional drilling and discovery.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Ike Osmani, PGeo, a consultant of the company, who is a qualified person as defined in National Instrument 43-101.

About Neotech Metals Corp.

Neotech is a mineral exploration company dedicated to discovering and developing valuable mineral resources in promising regions around the world. With a strong commitment to environmental stewardship and sustainable practices, Neotech is positioned to make a positive impact while maximizing the potential of its exploration properties.

The company is a mineral exploration company based in Vancouver, B.C., and owns 100 per cent of its total rare earth element property, located 90 kilometres northeast of Prince George, B.C., and 100 per cent of its Foothills rare earth element property located in central British Columbia. The company also holds options on the EBB nickel-cobalt property in British Columbia, Canada.

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