NINE MILE METALS LTD - VMSXF STOCK NEWS

Nine Mile Metals Ltd. has received all necessary drill permits for its Wedge Project and has mobilized the Drill Rig onsite for its High Priority Drill Program on Targets #1 & #2. The company has closed a $1.5m flow-through private placement and raised $1,125,000 for exploration programs on the Company’s New Brunswick VMS properties. The Wedge Mine, discovered in 1956, has a historical measured resource of 545,200T and the mine produced 1.503MT grading (2.88% Cu, 0.65% Pb, 1.81% Zn, 20.6 g/t Ag) between 1962 and 1968.

Nine Mile Metals Ltd. (CSE: NINE, OTCQB: VMSXF, FSE: KQ9) has received Final Approval of its Nine Mile Brook Lens Bulk Sample Permit from the NB Department of Mines Resource Development Branch (NB DEM). The company can now implement its Program Cost-Budget Analysis and begin scheduling the Bulk Sample Excavation Project Timelines. Nine Mile Metals must adhere to a $30,000 Reclamation Security Deposit. The permit process involved an extensive review by numerous branches of the Provincial Government and representatives of the local government. The team is pleased to receive the final approval for the bulk sample program at the high-grade Nine Mile Brook Lens, and looks forward to the next announcement for this important project for the company.

Nine Mile Metals announces certified results for VMS mineralization at Wedge mine site, high-grade results of 19% Cu, 10.25% Pb, 30%+ Zn, 97 g/t Ag, and 2.78 g/t Au. Upcoming drill program designs completed.

Nine Mile Metals Ltd. (CSE: NINE, OTCQB: VMSXF) announced a consulting agreement with Karlsson Group Limited on March 1, 2023. The three-month engagement aims to enhance brand awareness and broaden the Company’s reach in Scandinavian markets. Nine Mile will compensate Karlsson $35,884 monthly, with an option to convert to shares at a 10% discount on the 5-day VWAP. The firm focuses on Critical Minerals Exploration in New Brunswick, exploring four VMS projects, including the newly added Wedge VMS project, catering to the rising demand for copper, silver, lead, zinc, and gold driven by EV and green technologies.

Nine Mile Metals Ltd. resumes its 5,000m drill program at the high-priority ‘Hinge A’ target in the Nine Mile Brook VMS Project. The drilling is conducted by Orbit-Garant Drilling and re-enters the partially drilled Hole T05-A. This initiative follows its original announcement on January 16, 2023. The company plans to update on drilling progress in the upcoming weeks. In addition, Nine Mile has engaged Global Media One Limited for social media management and press release distribution, aiming to enhance investor engagement.

On February 9, 2023, Nine Mile Metals (CSE: NINE, OTCQB: VMSXF) announced a Mineral Property Option Agreement to acquire a 100% interest in the Wedge Project from Slam Exploration Ltd.. The Wedge Project covers 25 km² and historically produced 1.503MT of minerals, including copper, lead, and zinc. To secure the property, Nine Mile will pay an aggregate of 1,200,000 common shares and $150,000 over four years. The acquisition enhances Nine Mile's portfolio in the Bathurst Mining Camp and utilizes advanced UAV 3D and AI technology for exploration. This strategic move aims to increase shareholder value and bolster critical minerals production.

On February 8, 2023, Nine Mile Metals Ltd. (CSE: NINE, OTCQB: VMSXF) announced a consulting agreement with Oak Hill Financial Inc. for investor relations and capital market advisory services. The agreement includes a monthly fee of $10,000 plus applicable taxes. The partnership aims to enhance Nine Mile's corporate visibility in the investment community, particularly for its Critical Minerals projects in the Bathurst Mining Camp, New Brunswick. Oak Hill plans to leverage its extensive network to broaden Nine Mile’s shareholder base and attract institutional fund managers, positioning the company favorably within the growing battery metals sector.

Nine Mile Metals Ltd. announced the purchase of the West Nine Mile Brook Project from Windfall Geotek Inc. for 232,143 shares, now subject to a four-month hold period. This acquisition enhances their VMS Portfolio within the Bathurst Mining Camp, New Brunswick, covering 6.3 sq km and identified three high-priority target nodes. The project is strategically located along a mineralized trend, previously linked to the Wedge Deposit. CEO Patrick J. Cruickshank emphasized the role of AI from Windfall in boosting exploration capabilities. The property carries a 2% net smelter return, with a buyback option available for $500,000.