Company Statement: Aircraft Incident Near Prince George, British Columbia

Metal Energy Corp. (MERG) issued a statement on 2026-08-22 regarding a charter aircraft incident that occurred on 2026-08-20 near Prince George, British Columbia. Two company exploration team members were passengers on the aircraft, which was forced to make an emergency landing. During the landing, the aircraft contacted several vehicles on a roadway. One occupant of a vehicle died, while the two Metal Energy employees, the pilot, and other passengers described as personnel from other mineral exploration companies were unharmed.

The flight was transporting crew members on a scheduled rotation break from the NIV copper-gold-molybdenum project in the Toodoggone District. The Transportation Safety Board of Canada and other authorities are investigating the incident. Metal Energy stated it will cooperate fully and will not comment further on the circumstances. The company confirmed it is providing support to the employees involved and is in contact with the aircraft charter company.

The release contains no financial figures, no drill results, no financing terms, and no guidance update. It also contains no statement that the NIV drill program or other fieldwork has been suspended or disrupted.

Metal Energy Corp. (MERG) released information regarding a fatal accident involving a charter flight carrying company personnel. The release does not establish that Metal Energy employees were injured or that company operations have been interrupted.

A death occurred in connection with the charter flight, which supported the company’s flagship NIV project. While the aircraft and charter operator appear to be the primary operational parties in the incident, the event likely carries reputational and potential legal exposure depending on the outcome of Transportation Safety Board (TSB) and other investigations. Even if Metal Energy is not found at fault, negative news flow around a fatality can weigh on a small-cap exploration stock.

Mitigating factors include the fact that no Metal Energy employees were injured. The release does not state that drilling at NIV has stopped or that the incident affects permits, funding, or project timelines. No financial impact, litigation, or liability has been disclosed in the release.

In context, Metal Energy is a pre-revenue junior explorer currently executing its first drill program at NIV and preparing a first drill program at Highland Valley. The release does not change the core exploration thesis, but it adds near-term headline risk and an unusual operational and ESG overhang.

Metal Energy Corp. (TSXV: MERG, OTCQB: MEEEF) is a pre-revenue junior exploration company. Its flagship asset is the NIV copper-gold-molybdenum project, located in the Toodoggone District of north-central British Columbia, approximately 32 km south of Centerra Gold’s Kemess mine complex. The property encompasses approximately 12,500 hectares across the NIV and West NIV blocks. Described as an untested porphyry target with coincident geochemical and geophysical anomalies over a multi-kilometre trend, the project is fully permitted and drill-ready. The company’s first drill program commenced on 2026-06-29, with over 6,000 metres planned across approximately 12 holes. No drill results from NIV have been reported in the provided releases.

The company also holds other assets, including the 100%-owned Highland Valley project in British Columbia. This 240-square-kilometre property is situated in the Guichon Creek batholith, the same intrusive complex as Teck’s Highland Valley Copper mine. Highland Valley received a multi-year drill permit in July 2026, and an initial 2,000-metre, six-target program is planned for October 2026. Additionally, Metal Energy Corp. owns 85% of the Manibridge nickel-copper-cobalt-PGE project in Manitoba. Per the MD&A, the option to acquire the remaining 15% expired on 2026-04-30.

The company has no mineral resources or reserves disclosed and no production.