Enduro Metals Announces Private Placement Offering

Kelowna, British Columbia--(Newsfile Corp. - June 22, 2023) - Enduro Metals Corporation (TSXV: ENDR) (OTCQB: ENDMF) (FSE: SOG) ("Enduro Metals" or the "Company") announces that it intends to complete a non-brokered private placement of up to 37,500,000 units (the "Units") at a price of CDN$0.08 per Unit for aggregate gross proceeds of up to CDN$3,000,000 (the "Offering"). Each Unit will consist of one common share in the capital of the Company (a "Common Share") and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a "Warrant"). Each Warrant will entitle the holder thereof to acquire an additional Common Share at a price of CDN$0.12/share for a period of 24 months from the date of Issuance.

It is expected that the proceeds from the sale of Units will be used to fund continued exploration activities on the Company's Newmont Lake Project located in Northwest British Columbia and for general and administrative expenses.

The Company may pay a commission or finder's fee to eligible parties in connection with the Offering, in compliance with the policies of the TSXV Venture Exchange (the "Exchange").

Completion of the Offering is subject to final approval of the Exchange. All securities issued pursuant to the Offering will be subject to a statutory hold period expiring four months and a day from the date of issue.

About Enduro Metals

Enduro Metals is an exploration company focused on it's flagship Newmont Lake Project; a total 688km² property located between Eskay Creek, Snip, and Galore Creek within the heart of northwestern British Columbia's Golden Triangle. Building on prior results, the Company's geological team have outlined 4 deposit environments of interest across the Newmont Lake Project including high-grade epithermal/skarn gold along the McLymont Fault, copper-gold alkalic porphyry mineralization at Burgundy & 72 Zones, encouraging porphyry-style alteration typical of alkalic copper-gold porphyry systems at North Toe, and a large 9km x 4km geochemical anomaly hosting various gold, silver, copper, zinc, nickel, cobalt, and lead mineralization along the newly discovered Chachi Corridor.

On Behalf of the Board of Directors,
ENDURO METALS CORPORATION

"Cole Evans"
Chief Executive Officer

For further information please contact:

Ali Wasiliew - Manager of Communications
Tel: + (236) 420-4050
Email: wasiliew@endurometals.com

Sean Kingsley - Director of Communications
Tel: +1 (604) 440-8474
Email: info@endurometals.com
https://www.endurometals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains statements that constitute "forward-looking statements". Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Enduro's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-looking statements in this news release include statements concerning the Company's expectation that it will complete the Private Placement on the terms proposed or at all, the expected use of proceeds of the Private Placement, the payment of finder's fees and all other statements that are not historical in nature.

Although Enduro believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

The forward-looking information contained in this news release represents the expectations of the company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.

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