Metal Energy Secures Multi-Year Drill Permit at Highland Valley Copper Project in British Columbia

• Metal Energy has been granted a multi-year area-based Mines Act permit for Highland Valley, authorising up to 50 drill sites, 11.7 kilometres of new exploration trail, and 80 line-kilometres of geophysical surveying.
• The 240 square kilometre project sits within the southern Guichon Creek batholith, the same rock formation that hosts Teck's Highland Valley Copper mine, and lies directly on trend with its mineralised systems.
• More than 55,000 metres of historical drilling across 402 holes has defined two zones: a copper-silver-molybdenum zone traced over 1,200 metres, and a gold-enriched copper-gold-silver-molybdenum-rhenium zone.
• A 1,000-sample soil survey has been completed and is being paired with electromagnetic and magnetic surveys to help define drill targets, with results expected in early August 2026.
• Neighbouring Getty Copper recently reported 342 metres of 0.50% copper, including 108 metres of 0.70% copper, and Teck is extending Highland Valley Copper's mine life to 2046.

Metal Energy Corp. (TSXV: MERG | OTCQB: MEEEF) is a Canada-based exploration company focused on copper and gold assets. Its main project, NIV, is a fully permitted copper-gold-molybdenum property in British Columbia's Toodoggone District, where a 6,000 metre maiden drill program began in late June 2026. Highland Valley is the company's second permitted, drill-ready copper project. Teck Resources and Centerra Gold each hold a 9.9% strategic stake in Metal Energy, and the company reports a balance sheet of more than $9 million, which it states fully funds its 2026 exploration programs, with proceeds from the Teck and Centerra investments directed toward NIV.

Multi-Year Drill Permit Authorises 50 Drill Sites and 80 Line-Kilometres of Surveying

The multi-year area-based permit removes the regulatory step that had stood between Metal Energy and drilling at Highland Valley. Permitting in British Columbia is typically a multi-year process, and this single authorisation allows the company to proceed to target finalisation and mobilisation for its first drill campaign.

The permit provides for up to 50 drill sites, 11.7 kilometres of new exploration trail, 80 line-kilometres of geophysical surveying, and associated staging and storage areas. This scope allows Metal Energy to test multiple targets across the property over a multi-year horizon under a single authorisation, rather than seeking approval for each phase of work individually.

The permit also incorporates environmental and cultural safeguards developed through consultation, including a cultural heritage resource conservation program, watercourse protection measures, and a wildlife conservation program.

Charlie Greig, CEO of Metal Energy, said:

"This permit is a big step toward testing some exciting drill targets we've long been working toward. The permitting process took patience, but it's behind us now. With a multi-year permit in hand, two priority zones have already been defined and remain open, and robust recent exploration data points to compelling new targets."

A 240 Square Kilometre Land Position On Strike With Canada's Largest Copper Mine

Highland Valley spans 240 square kilometres near Logan Lake and Merritt in south-central British Columbia, about three and a half hours from Vancouver, with road, rail and power access nearby. The project occupies the southern flank of the Guichon Creek batholith, the same intrusive rock complex that hosts Teck's Highland Valley Copper deposits a short distance to the north.

The Highland Valley district hosts Teck's Valley, Lornex, Bethlehem, Highmont and JA deposits, which are located along intersecting fault systems within the batholith. Metal Energy's land position lies on strike with this trend and shares the rock types and copper mineral assemblages, including chalcopyrite, bornite and chalcocite, associated with the district's porphyry systems.

Teck's Highland Valley Copper mine processes approximately 155,000 tonnes of ore per day and has had its mine life extended to 2046, described in the release as the largest critical minerals investment in British Columbia's history.

Two Priority Zones Defined by Decades of Historical Drilling

Highland Valley has been assembled over approximately 17 years and is supported by more than 55,000 metres of historical drilling across 402 holes, along with geological, geophysical and geochemical data collected by past operators including Asarco, Cominco and Hudbay. Metal Energy is using this dataset to define and rank targets ahead of its first drill program.

Two zones have been identified. Zone 1 contains copper-silver-molybdenum mineralisation traced over approximately 1,200 metres of strike length and remains open to the south and at depth, with copper-bearing chalcocite and bornite. Zone 2 hosts higher-grade copper-gold-silver-molybdenum-rhenium mineralisation that is notably gold-enriched, a characteristic the release states is distinct from other deposits in the district.

Ground electromagnetic and magnetic surveys completed by Metal Energy have identified structures consistent with those associated with mineralisation in porphyry copper systems, including at the Billy Lake target, where a resistive zone coincides with elevated copper readings in soil samples. This data is being combined with the historical dataset to build a targeting model ahead of drilling.

Milestones and Next Steps

With the permit secured, Metal Energy's next steps at Highland Valley are to finalise and rank drill targets ahead of an inaugural drill program. Results from the recently completed 1,000-sample soil survey are expected in early August 2026 and will be incorporated into that targeting work. An expanded exploration plan for the project is being formulated, with further details to follow. Highland Valley is now Metal Energy's second fully permitted, drill-ready copper asset, alongside the ongoing 6,000 metre maiden drill program at NIV in the Toodoggone District, which remains the company's near-term operational focus.

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