Announcement • Jul 08

Metal Energy Commences Inaugural Drill Program At Its NIV Project, Toodoggone District, British Columbia

Metal Energy Corp. announced that drilling is underway at its NIV copper-gold project, in the southern part of the Toodoggone district of British Columbia. This first-ever drill program tests one of the most compelling untested copper-gold porphyry targets in British Columbia. Drilling at NIV is underway, with the first hole collared at the Property's high-priority northern target. 6,000+ metres planned across 12 drill holes along the full length of the large-scale NIV porphyry system. Drilling will target compelling geophysical features that coincide with strongly anomalous soil geochemistry and exposures of altered volcanic and intrusive rocks. Drilling will target a 5 km long gold-copper-silver-molybdenum soil geochemical anomaly developed atop a belt of variably altered and variably mineralized stratified and intrusive rocks, all of which are underpinned by, and coincident with, geophysical elements consistent with the presence of a porphyry system. A 5 km long north-northwest trending gold-copper-silver-molybdenum soil geochemical anomaly ranging up to several hundred metres across. Numerous high-tenor gold, silver, and copper-bearing grab samples have been collected from throughout the soil anomaly. Widespread alteration characterizes the volcanic, sedimentary, and porphyritic intrusive rocks underlying the anomaly. An enveloping northwest-trending airborne magnetic low, with magnetic highs spatially associated with mapped porphyritic intrusions, coincides with the altered rocks and the geochemical anomaly. Induced Polarization (IP) chargeability highs occur at depth throughout the length of the altered and geochemically anomalous trend, along with generally elevated resistivity, presenting well-defined drill targets at depth. Drilling nearby has established the presence of copper-gold porphyry mineralization; in 2021, Northwest Copper Corp. drilled 81.6 m of 0.41% Cu, 0.20 g/t Au and 0.9 g/t Ag from surface approximately 2 km east of the property. The NIV Property spans more than 12,500 hectares across two claim blocks, NIV (1,048 ha) and West NIV (11,500 ha), located 32 km south of Centerra Gold's Kemess mine complex. NIV is largely underlain by the same Triassic-Jurassic geology that to the north hosts both the nearby Kemess copper-gold porphyry deposits, as well as Amarc Resources' newly discovered Aurora deposit, which extends onto TDG Gold's adjacent Greater Shasta-Newberry property. Still farther north, new porphyry targets appear to be emerging on properties held not only by Amarc and TDG, but also by Thesis Gold, Sun Summit Minerals, Evergold, and others. To the south, similar geology hosts advanced exploration projects on the nearby Kliyul and RDP Projects of Pacific Ridge. Although exploration at NIV is documented as far back as the 1960s, little work was done prior to staking in 2010, and modern geochemical and geophysical techniques have only been applied sporadically since. Neither the NIV nor West NIV block have been drill-tested prior to this program.

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Metal Energy Commences Inaugural Drill Program At Its NIV Project, Toodoggone District, British Columbia

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