Neotech Metals Approved for $500,000 CMIF Grant

10:00 Uhr  |  Newsfile

Vancouver, June 22, 2026 - Neotech Metals Corp. (CSE: NTMC) (OTCQB: NTMFF) (FSE: V690) ("Neotech" or "the Company") is pleased to announce that it has been selected by the Critical Minerals Innovation Fund ("CMIF") to receive $500,000 in non-dilutive funding to accelerate its metallurgical and processing test work.

The program is part of a broader strategy to position the province as a reliable global supplier of responsibly sourced critical minerals and build fully integrated, made-in-Ontario supply chains. As the global demand for critical minerals needed to manufacture batteries, modern defence technologies and advanced manufacturing continues to grow, Ontario has the deposits, skilled workforce, expertise and business-friendly investment climate to secure the province's place as the most competitive jurisdiction in the G7 to invest, create jobs and do business.

The $500,000 award represents the maximum grant available per project under the CMIF program. Funding is structured as non-dilutive, reimbursing 50% of qualified expenditures up to $1,000,000 in total program costs related to metallurgical, hydrometallurgical and processing test work on the Company's Hecla-Kilmer Rare Earth, Niobium and Phosphate Project in Northern Ontario. Hecla-Kilmer's intrusive, apatite hosted mineralization offers higher purity relative to many sedimentary phosphate sources, positioning the Project to potentially serve multiple high growth sectors simultaneously, including LFP battery feedstock, rare earth elements for the green energy transition, and critical minerals for defence applications. Further details on the scope of the test work program and associated results will be disclosed in future news releases.

"Ontario is doubling down on its leadership in the critical minerals sector, and our Critical Minerals Innovation Fund is a core component of this strategy," said Stephen Lecce, Minister of Energy and Mines. "This investment will help advance innovative processing work at the Hecla-Kilmer REE, Niobium, and Phosphate Project and support the development of a domestic rare earth supply chain. By backing companies like Neotech Metals, we are securing Ontario's place as a key supplier of the critical minerals essential for a modern, competitive, and self-reliant economy."

"We are extremely pleased to be the recipients of this funding and grateful for the Ontario government's continued support of our work at Hecla-Kilmer. The CMIF award allows us to accelerate metallurgical and processing studies at a pivotal stage in the project's development," said Reagan Glazier, Chief Executive Officer of Neotech. "Hecla-Kilmer's apatite hosted rare earth mineralization is globally distinct, and we believe it is uniquely positioned to help solve the processing bottleneck that has constrained the rare earth sector. Programs like the CMIF, together with the province's new $500 million Critical Minerals Processing Fund, are exactly the kind of support needed to convert that mineralogical advantage into a Made in Ontario critical minerals supply chain. We look forward to reporting results from this work and continuing to build shareholder value."

ON BEHALF OF THE BOARD

Reagan Glazier, Chief Executive Officer and Director
Neotech Metals Corp.

About Neotech Metals

Neotech Metals Corp. is a mineral exploration company dedicated to discovering and developing critical mineral resources, with a strong commitment to environmental stewardship and sustainable practices. The Company holds a diversified portfolio of Rare Earth Element and Critical Minerals projects, including the Hecla-Kilmer Rare Earth, Niobium and Phosphate Project located 20 km from the Otter Rapids 180MW hydroelectric power generation station and active Ontario Northland Railway, the Torrance Project located 70 km northeast of Hecla-Kilmer, and the TREO and Foothills projects in British Columbia, all of which are 100% wholly owned.

Qualified Person

Technical Information for this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101. Jared Galenzoski, VP Exploration, P.Geo., and Qualified Person, has reviewed and approved all of the data and statements made for this news release.

Forward-Looking Statements

Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will", "will be" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward- looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

The CSE has not reviewed, approved, or disapproved the contents of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/302270