Metal Energy Adds Second Drill Rig at NIV Copper-Gold Project

• A second diamond drill rig is now operating at the NIV copper-gold project in British Columbia's Toodoggone District
• Six holes totalling approximately 4,200 metres have been completed toward the planned 6,000-metre program
• The additional rig will support follow-up drilling on the program's most promising holes and testing of the system's 5-kilometre strike length
• The company expects this season's drilling to support an expanded program at NIV in 2027
• Assay results will be released as they are received, reviewed, compiled and interpreted

Metal Energy Corp. (TSXV: MERG | OTCQB: MEEEF) is a Canada-based company focused on copper and gold exploration. Its flagship project, NIV, is located in British Columbia's Toodoggone District and is fully permitted for drilling. Drilling at NIV began in June 2026, marking the first drill program ever conducted on the property. The company also holds a second permitted, drill-ready project, Highland Valley, in British Columbia. Metal Energy is supported by two strategic investors, Centerra Gold and Teck Resources, each holding a 9.9% stake, and reports a treasury of more than $9 million.

Second Drill Rig Mobilized to Double Drilling Capacity at NIV With Six Holes and 4,200 Metres Completed to Date

Metal Energy has mobilized a second diamond drill rig at NIV, doubling the amount of drilling that can be completed during the remaining weeks of the 2026 field season. Diamond drilling is the method used to collect rock samples from underground for laboratory analysis of copper and gold content. With two rigs operating, the company can test more of the property within the time remaining before the season ends.

Six holes totalling approximately 4,200 metres have been completed at NIV, out of a planned 6,000-metre program. The company states that the program is on schedule, with the option to drill additional metres this season. This is the first drill program conducted at NIV, a property that had previously been characterized by soil, geophysical, and magnetic survey data but had not been drill-tested.

The second rig allows drilling to continue at NIV while the company directs additional resources toward specific targets identified so far in the program, within the time available before the season concludes.

Accelerated Follow-Up Drilling on Most Promising Holes More Fully Testing 5km Strike Length of NIV System

The second rig is being used to follow up on the results considered most promising so far in the program. Follow-up drilling typically involves placing additional holes near earlier results to further define an area, alongside continued drilling of new targets.

The NIV system extends across a 5-kilometre strike length. The additional rig is intended to allow more of this length to be tested within the current season than would be possible with a single rig.

Charlie Greig, CEO of Metal Energy, said:

"The second rig lets us follow up on our best holes, more fully test the impressive 5 km length of the NIV system, and put as many metres into the ground as possible this season. It will also allow for a more thorough drill test and set Metal Energy up well for an expanded program at NIV in 2027."

Expanded 2027 Drill Program Positioning Supported by Strategic Shareholders Centerra Gold and Teck Resources

The company states that a more complete drill test at NIV this season is intended to support an expanded drill program at the project in 2027. The current season's results will inform the scope of that follow-up program.

The program is backed by two strategic shareholders, Centerra Gold and Teck Resources, each holding a 9.9% stake in Metal Energy. This investment has contributed to a treasury of more than $9 million, which the company states is sufficient to fund its 2026 exploration programs.

This funding position allows the current drill program to proceed without a stated requirement for additional financing this season.

Milestones and Next Steps

Metal Energy has completed six holes totalling approximately 4,200 metres at NIV, with a second drill rig now active for the remainder of the 2026 season. Assay results will be released in stages as they are received, reviewed, compiled and interpreted. The company states that this season's drilling is expected to support an expanded drill program at NIV in 2027.

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