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Metal Energy Supports Highly Concentrated Lithium Brine Potential at its SourceRock Project

Press Release

Toronto, Ontario – July 12, 2023- Metal Energy Corp. (the “Company” or “Metal Energy”) (TSXV: MERG, OTCQB: MEEEF) is pleased to provide further evidence supporting lithium (“Li”) brine prospectivity at the SourceRock project (“SourceRock” or the “Project”), Thunder Bay-Nipigon area of northwestern Ontario (Figure 1).

“We have ample scientific documentation supporting our thesis of highly concentrated lithium brines at SourceRock. The Sibley Basin sedimentary brine source rocks exhibit deep geological characteristics and boast elevated total dissolved solids (TDS) levels. Higher TDS concentrations are typically associated with increased lithium content. We know the presence of super saline brines within the Project and our objective is to confirm their lithium content. With drill permits in hand we are excited to progress SourceRock towards its planned ‘proof-of-concept’ drill program,” said James Sykes, CEO of Metal Energy.

Please watch this video for new details indicating SourceRock’s supersaturated saline solution and increased TDS meet the criteria for increased Lithium concentration potential within brines.

SourceRock Lithium Brine Project: Ontario’s First Lithium Brine Project – Chemical Analysis and Interpretations

For the latest videos from Metal Energy and other Ore Group companies, subscribe to our YouTube channel: youtube.com/@theoregroup

SourceRock Exploration Plans

SourceRock is a drill-ready project with an exploration permit already in-hand from the Ontario Ministry of Mines for up to 20 drill pads.  Initial geophysical data compilation has already identified saline brine drill targets on the Project.  The Company is currently engaged with local Indigenous groups, communities, and stakeholders, and anticipates a drill program to commence after sufficient and meaningful consultation has been completed.

About the SourceRock Li Brine Project

SourceRock is exceptionally large, covering 913 square kilometres (91,288 hectares) encompassing approximately 10 to 20 km wide by 95 km long 91,288 hectares within the Proterozoic Sibley sedimentary basin, Thunder Bay-Nipigon area, Ontario. The Project has excellent access to infrastructure and capacity that has supported previous exploration programs and mine development, including year-round highway, railroad, and seaport access, with power and natural gas lines crossing SourceRock.

About Metal Energy Corp.

Metal Energy is a nickel and battery metal exploration company with three projects in politically stable Canadian jurisdictions; Manibridge (Ni-Cu-Co-PGE) in Manitoba, and SourceRock (Li-Na-K) and Strange (Ni-Cu-Co-PGE) in Ontario. The Manibridge Project is 85% owned by Metal Energy and 15% owned by Mistango River Resources Inc. (CSE: MIS). Both SourceRock and Strange Projects are subject to earn-in agreements where the Company can acquire 100% exploration rights to each project.

QP Statement

The technical information contained in this news release has been reviewed and approved by Charles Beaudry, P.Geo., Director for Metal Energy, and a Qualified Person as defined in “National Instrument 43-101, Standards of Disclosure for Mineral Projects.”

For further information, please contact:

Metal Energy Corp.

MERG on the TSXV

info@metalenergy.ca

www.metalenergy.ca

James Sykes, CEO

jsykes@oregroup.ca

306-221-8717

IBF4

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