Metal Energy enters option deal to acquire NIV project

Mr. Charlie Greig reports METAL ENERGY OPTIONS THE NIV COPPER-GOLD PROPERTY IN BRITISH COLUMBIA'S PROLIFIC TOODOGGONE DISTRICT Metal Energy Corp. has entered into an option agreement to acquire the NIV copper gold porphyry project, located in the Toodoggone district of British Columbia. Highlights: NIV hosts extensive and coincident soil geochemical, induced polarization (IP), and magnetic anomalies in a favourable geological setting that represents one of B.C.'s most compelling undrilled porphyry copper-gold-molybdenum targets. NIV had been advanced and financed privately for 10 years by Charlie Greig and Alex Walcott. NIV is in the Toodoggone district -- similar geology to the Aurora (Amarc) and Aurora West (TDG Gold) discoveries. NIV is fully permitted, with targets defined and ready to drill. New leadership: Charlie Greig (GT Gold, Pretium Resources, American Eagle Gold) appointed as the chief executive officer of Metal Energy. Mr. Walcott and Dr. Roy Greig (ex-Amarc vice-president of exploration) have been appointed technical advisers to Metal Energy. View updated Metal Energy investor presentation, highlighting the NIV project. "NIV combines everything one looks for in a copper-gold porphyry property: the right geology with extensive alteration, multiple coincident geochemical and geophysical anomalies, and close proximity to infrastructure. We are fully permitted, have high-priority defined targets and couldn't be more excited to begin drilling. I look forward to showing investors why Alex and I believe NIV could be another jewel in the Toodoggone," said Charlie Greig, chief executive officer of Metal Energy. "Metal Energy is excited to partner with Charlie, Roy and Alex to explore this remarkable and untested target. Combining NIV with a proven technical team that has extensive regional experience and in-depth knowledge of the property provides a strong foundation for something truly special," said Stephen Stewart, chairman of Metal Energy. NIV: a compelling untested target The NIV project displays a significant alignment of geophysical and geochemical anomalies in a proven geological setting. All of these characteristics are consistent with the presence of a large-scale porphyry copper-gold-molybdenum system. The data sets at NIV, taken together, make the project one of the most compelling undrilled porphyry targets in British Columbia. Privately financed and advanced for more than a decade by Charlie Greig and Mr. Walcott, the project represents the culmination of their technical vision and commitment. All permits are in place, and a maiden drill program is being finalized, with details to be announced shortly. NIV property overview The NIV property spans more than 12,500 hectares across two claim blocks -- NIV (1,048 hectares) and West NIV (11,500 hectares) -- located approximately 32 kilometres south of Centerra Gold's Kemess mine complex. exploration at NIV began in the 1960s, but modern, systematic work only began in 2010 when Walcott first staked the ground. Subsequent programs between 2016 and 2024 revealed: Strongly anomalous soil geochemistry: copper (greater than 300 parts per million), gold (greater than 200 parts per billion) and molybdenum (greater than 12 ppm) over a 3.7-kilometre strike length. Geological mapping that suggested the presence of porphyry dikes and a large alteration system associated with the anomalous soil geochemistry. Coincident induced polarization (IP) chargeability and resistivity anomalies from deep-looking surveys that coincide with local magnetic highs and align with the geochemical and geological trends. Features in additional geophysical surveys (for example, MobileMT) and technical studies (for example, geochronology) that support to the presence of a porphyry copper-gold system of the appropriate age and scale. Regional context -- Toodoggone is a proven district NIV lies within the prolific Toodoggone district, a proven host of porphyry and epithermal systems. The property shares some structural and geoological characteristics with nearby Toodoggone porphyry deposits, such as Centerra's Kemess deposits, Amarc Resources' Aurora discovery and TDG Gold's Aurora West, as well as to deposits and hydrothermal systems to the west in B.C.'s Golden Triangle. Immediately adjacent, Northwest Copper's East NIV project (first staked in 2018) boasts a drill intersection of 0.56 per cent CuEq (copper equivalent) over 81.6 metres (including 1.02 per cent CuEq over 14.8 metres) in its 2021 discovery drill hole. This demonstrates the fertility of the broader NIV-East NIV system and underscores NIV's potential as the centre for mineralization in the area. Next steps With permitting complete and multiple high-priority targets defined, Metal Energy plans to commence drilling at NIV in 2026. The upcoming program will focus on testing the strongest coincident anomalies identified by soil geochemistry, IP and magnetics. Leadership appointments Concurrent with the transaction, Metal Energy is pleased to announce the appointment of Charlie Greig as chief executive officer. About Charlie Greig Charlie Greig brings over four decades of exploration success, including key roles in the discoveries of GT Gold's Saddle North Cu-Au porphyry and Saddle South high-grade gold-silver system. His extensive record encompasses work on producing and advanced-stage projects such as La India (Grayd Minerals -- Agnico Eagle), Wolverine (Atna Resources-Westmin -- Yukon Zinc), Alamo Dorado (Corner Bay -- Pan American Silver), Bisha (Nevsun Resources) and Brucejack (Pretium-Newmont). Most recently, Charlie Greig has been the lead technical adviser for American Eagle Gold's (TSX Venture Exchange: AE) NAK project, a copper-gold porphyry near Smithers, B.C., in partnership with Teck Resources and South32. The company is also pleased to announce the appointment of two new technical advisers, Mr. Walcott and Dr. Roy Greig, both of whom possess extensive experience and proven records of success in the region and beyond. About Alex Walcott Mr. Walcott has more than 25 years of experience in mineral exploration. Through Peter E. Walcott & Associates Ltd. he has carried out geophysical surveys and aided with notable successes at GT Gold's Saddle project, Amarc Resources' Aurora discovery and Northwest Copper's East Niv discovery. Alongside Charlie Greig, he has advanced and financed exploration to the drill stage at the NIV property. He also manages the geophysical contracting firm Peter E. Walcott & Associates. About Dr. Roy Greig Dr. Roy Greig has more than 20 years of hands-on exploration experience across the Americas, including mapping roles on notable systems such as Saddle (GT Gold), Brucejack (Pretium), Filo del Sol (NGEx/Filo). As former vice-president, exploration, at Amarc Resources, he helped define the target that became the Aurora discovery at the Joy project, not far north of NIV in the Toodoggone. Dr. Roy Greig's PhD dissertation, completed in 2021, was focused on the Laramide porphyry Cu province of the SW US, home to several of the world's largest Cu deposits. Transaction details The assignment agreement dated Oct. 22, 2025, is with Standard Ore Corp., whereby Standard Ore has agreed to assign and transfer to Metal Energy all of its rights, titles, benefits and interest in, to, and under an option agreement dated Sept. 24, 2025, between Standard Ore and an arm's-length party. Standard Ore retains no interests in the claims, royalties or otherwise as a part of this transaction, and is passing through the terms to Metal Energy from the underlying owners without any mark up or margin whatsoever. Pursuant to the option agreement, the optionor granted to Standard Ore the exclusive right and option to acquire an 80-per-cent undivided interest in the property known as the NIV and West NIV exploration properties, which are located in north-central British Columbia. These rights have now been acquired by Metal Energy (subject to TSX-V acceptance). The option agreement provides that Metal Energy may earn its interest in the property by doing the following: Paying to the optionor an aggregate $300,000 in cash for the exclusive right to explore the property, as follows: $100,000 on TSX Venture Exchange acceptance; $200,000 not more than 60 days after Toronto Stock Exchange acceptance. Issuing to the optionor by no later than Dec. 31, 2025, that number of common shares having a value of $300,000 (calculated based on the VWAP (volume-weighted average price) at the time of issuance); At the optionor's sole option (i) paying to the optionor $300,000 in cash, or (ii) issuing to the optionor that number of shares with a value of $400,000 for the exclusive right to explore the property, no later than Dec. 31, 2027; At the optionor's sole option, (i) paying to the optionor $900,000 in cash, or (ii) issuing to the optionor that number of shares with a value of $1,100,000 for the exclusive right to explore the property, no later than Dec. 31, 2030; Metal Energy will incur an aggregate of at least $20-million in exploration expenditures (as defined in the option agreement), as follows: $2.5-million in exploration expenditures on or before Dec. 31, 2026; $2.5-million in exploration expenditures on or before Dec. 31, 2027; $2.5-million in exploration expenditures on or before Dec. 31, 2028; $2.5-million in exploration expenditures on or before Dec. 31, 2029; $10-million in exploration expenditures on or before Dec. 31, 2030. The assignment of the option agreement will be subject to TSX-V approval. The assignment agreement involve non-arm's-length parties as such term is defined Policy 1.1 of the exchange, as director of Metal Energy, is a shareholder of Standard Ore. In accordance with Policy 5.3 of the exchange, the assignment agreement constitutes a reviewable acquisition for Metal Energy. Pursuant to TSX-V Policy 5.9 and Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions, the assignment agreement constitutes a related party transaction. The company relied on Section 5.5(a) of MI 61-101 for an exemption from the formal valuation requirement and Section 5.7(1)(a) of MI 61-101 for an exemption from the minority shareholder approval requirement of MI 61-101 as the fair market value of the transaction did not exceed 25 per cent of the company's market capitalization (there was only notional consideration paid for the assignment for legal purposes). No finders' fees will be paid in connection therewith. About Metal Energy Corp. Metal Energy is a critical metals exploration company with two high-potential projects in politically stable, Canadian jurisdictions: Manibridge (Ni-Cu-Co-PGE) (nickel-copper-cobalt-platinum group element) (85 per cent owned) in Manitoba and its recently acquired Highland Valley project (Cu-Mo-Ag-Au-Re) (100 per cent owned) in British Columbia. QP (qualified person) statement The technical information contained in this news release has been reviewed and approved by Roy Greig, PhD, PGeo, an independent and qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. We seek Safe Harbor.