Broad High-Grade Nickel Intersections Continued To Be Drilled At Manibridge Project

TORONTO - Metal Energy Corp. four drill holes on the same section of the Phase Two drill program on the high-grade nickel and copper-cobalt Manibridge project in the Thompson Nickel Belt, Manitoba. Phase Two's 10,000 m drill program was completed in December 2022, with five additional drill hole assay results still pending.

"Drill holes MNB035 and MNB034 contained impressive individual high-grade intersections of 1.19% NiEq over 31.3 m (37.3 GT) and 1.10% NiEq over 28.15 m (31.0 GT), respectively. These four drill holes expand a shallow high-grade nickel zone that was never discovered previously at Manibridge. This particular mineralized zone is 100 m along strike, 40 to 90 m thick, extends for at least 180 m in the dip direction, and is open in both dip directions. The Phase 2 drill program continues to redefine the system at Manibridge with over 1 kilometer of strike, and mineralization down to at least 800 m depth. The broader mineralized envelope is large with multiple high-grade zones being discovered recently. Drilling continues to intersect wide, hide-grade nickel intercepts with similar grade-thickness values ("GT") consistent with what was previously mined at Manibridge. We are planning our Phase 3 drill program to continue the success at Manibridge," said James Sykes, CEO.

A total of 10,091 meters were completed over 36 diamond drill holes, including 6 abandoned drill holes, with all completed drill holes intersecting visible nickel sulfides. The drill hole collar locations were all within 150 to 600 meters of the old mine workings. The drill holes targeted the shallower parts of the Manibridge nickel sulphide system at depths between 100 and 400 meters from surface. Assay results for drill holes MNB036 to MNB040A are still pending and will be reported after the data has been received, reviewed, and approved.