Metal Energy raises additional investment from strategic investors

Toronto, Ontario--(Newsfile Corp. - August 11, 2026) - Metal Energy Corp. (TSXV: MERG) ("Metal Energy" or the "Company") is pleased to announce that existing shareholders, Centerra Gold Inc. ("Centerra") and Teck Resources Limited ("Teck"), have elected to exercise their respective 'top-up rights' to maintain their respective 9.9% equity interests in the Company, as provided under their respective investor rights agreements.

The Company will issue 550,000 common shares ("Shares") at a price of C$0.89 per share, for total gross proceeds of approximately C$490,000 (the "Offering"). The price was determined in accordance with the investor rights agreements. No warrants will be issued and no finder's fees will be paid in connection with this issuance.

"We are grateful for the continued backing of Centerra and Teck as we work to unlock the potential of what NIV has to offer," said Charlie Greig, CEO of Metal Energy. "We are well into our first drill program on the property, testing what we think is one of the most promising undrilled porphyry targets in British Columbia. We like what we are seeing so far, and we are looking forward to the first set of assays."

Metal Energy will use the proceeds from the Offering for general corporate and working capital purposes.

Closing of the Offering is expected to occur on or before August 17, 2026, subject to the satisfaction of certain customary closing conditions, including, but not limited to, the receipt of all necessary regulatory approvals and acceptance of the TSX Venture Exchange.

This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of ‎the securities in the United States. The securities have not been, and will not be, registered under ‎the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state ‎securities laws and may not be offered or sold within the United States or to, or for the account ‎or benefit of, a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless ‎registered under the U.S. Securities Act and applicable state securities laws or an exemption ‎from such registration is available.‎

Qualified Person

The technical information contained in this news release has been reviewed and approved by C.J. "Charlie" Greig, P.Geo., CEO of Metal Energy Corp., and a Qualified Person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects. About Metal Energy Corp. Metal Energy Corp. is a critical metals exploration company focused on copper and gold assets in Canada. The Company's flagship asset, NIV, is 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. Drilling at NIV commenced on June 29, marking the start of a 6,000-metre program designed to test undrilled copper-gold porphyry targets. This 2026 program is the first-ever drill campaign at NIV, which hosts extensive and coincident soil geochemical, Induced Polarization (IP), and magnetic anomalies in a favourable geological setting. The Company's Highland Valley Project is a second permitted, drill-ready asset, offering investors additional discovery upside and further copper exposure.