Metal Energy Announces Drill Program at NIV

12:00 Uhr  |  Newsfile

Highlights:

• First-ever drilling at NIV will total 6,000 meters across 12 holes
• Drilling will test a compelling 5 km long gold-copper-silver-molybdenum soil anomaly coincident with a multi-parameter geophysical signature characteristic of porphyry systems
• Host rocks correlate in age with those at the nearby Kemess deposit and across BC arc terranes, including the Golden Triangle
• Mobilization is targeted for June

Toronto, April 29, 2026 - Metal Energy Corp. (TSXV: MERG) (OTCQB: MEEEF) (the "Company" or "Metal Energy") is pleased to outline its planned 2026 exploration program at its NIV Property ("NIV" or the "Property"), located in the Toodoggone district, central British Columbia. This 2026 program is the first-ever drill campaign at NIV, representing a significant milestone in advancing this copper-gold-silver-molybdenum exploration target.

CLICK HERE to View Video of CEO Charlie Greig Discussing Inaugural NIV Drill Program

Targeting a District-Scale Porphyry System at NIV:

NIV hosts a large, coherent geochemical and geophysical anomaly interpreted to represent a potential porphyry copper-gold-silver-molybdenum system, with distinct and highly prospective features considered typical of porphyry-style mineralization, including:

• A 5 km long northwest trending gold-copper-silver-molybdenum soil geochemical anomaly ranging up to several hundred meters across
• Numerous high-tenor gold, silver and copper-bearing grab samples occur throughout the soil anomaly
• Widespread alteration characterizes the volcanic, sedimentary, and porphyritic intrusive rocks underlying the anomaly
• The extensive soil anomaly coincides with distinctive and anomalous geophysical elements, including:
  • An enveloping northwest trending airborne magnetic low.
  • Magnetic highs within the extensive magnetic low envelope that are spatially associated with mapped porphyritic intrusions. Induced Polarization (IP) chargeability highs throughout the trend.
  • Generally elevated resistivity.

Drilling and Exploration Program Overview:

• 6,000 meters across 12 holes targeting the northern Property target, where soil geochemical anomalies are most extensive
• Drilling will test beneath a 5 km northwest-trending gold-copper-silver-molybdenum soil anomaly (copper >300 ppm, gold >200 ppb, molybdenum >12 ppm)
• Holes oriented southwest at moderate to steep angles, testing beneath peak geochemical values and across key geophysical features
• Primary targets include IP chargeability highs, with associated magnetic anomalies, and zones of elevated resistivity
• Geophysical anomalies extend to 400 m depth as observed in the historical deep sensing survey, providing well-defined targets for drill testing
• Mobilization for drilling is scheduled for June

CLICK HERE to View Figure 1: Map View of Planned Drill Holes at NIV

CLICK HERE to View Figure 2: Cross-section View of Planned Drill Holes at NIV

Additional 2026 Geological Work:

• Airborne Magnetic Surveying (1,000 line-km): designed to complete geophysical coverage over the western part of the property (West NIV) to refine additional exploration targets
• Surface Exploration and Geological Mapping: targeted soil geochemical sampling, prospecting and rock sampling to further delineate or expand mineralized trends and existing anomalies
• Ground geophysical Surveys (IP/AMT): follow-up surveys (12-15 line-km) may be conducted later in the season to better understand and define deeper structures and to refine drill targeting

NIV Property Overview

The NIV Property spans more than 12,500 hectares across two claim blocks-NIV (1,048 ha) and West NIV (11,500 ha)-located approximately 32 km south of Centerra Gold's Kemess mine complex. Although documented exploration dates back to the 1960s, little work was done prior to staking in 2010. Since that time, modern geochemical and geophysical techniques have only been applied sporadically, although more recent work, mainly between 2016 and 2024, revealed anomalous geochemical and geophysical characteristics that aligned with altered and locally mineralized stratified rocks and porphyritic intrusions along the 5 km length of the NIV block. The strongly anomalous soil geochemistry, with copper commonly >300 ppm, gold commonly >200 ppb, and molybdenum commonly >12 ppm, coincides with elevated Induced Polarization (IP) chargeability and resistivity to depth (approximately 400 m), along with local magnetic highs that reside within a broad property-scale magnetic low.

About Metal Energy

Metal Energy Corp. (TSXV: MERG) (OTCQB: MEEEF) is a critical metals exploration company focused on copper and gold assets in Canada. The Company controls NIV, a fully permitted and drill-ready copper-gold-molybdenum project located in British Columbia's prolific Toodoggone District, a region known for significant porphyry deposits.

With the addition of NIV, Metal Energy's portfolio now includes three high-potential projects:

• NIV Project (Cu-Au-Mo, 100% controlled) - Toodoggone District, British Columbia
• Highland Valley Project (Cu-Mo-Ag-Au-Re, 100% owned) - British Columbia
• Manibridge Project (Ni-Cu-Co-PGE, 85% owned) - Manitoba

QP Statement

The technical information contained in this news release has been reviewed and approved by C.J. "Charlie" Greig, P.Geo., a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."

Reader Advisory

Certain information set forth in this news release contains forward-looking statements or information ("forward-looking statements)", including details about the business of Metal. All statements in this news release, other than statements of historical facts, that address events or developments that Metal Energy expects to occur, are forward-looking statements, including, but not limited to, the ability of Metal Energy to earn the Interest by the completion of the work obligations, or the exercise of the option. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Metal Energy's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, operational risks, competition from other industry participants, stock market volatility. Although the Company believes that the expectations in its forward-looking statements are reasonable, its forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. Risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in Metal Energy's public disclosure documents available at www.sedarplus.ca. Furthermore, the forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Metal Energy does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.

Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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