BeMetals Corp. announced significant results from its 2023 aircore campaign at the D-Prospect within the Pangeni Copper Project ("Pangeni" or the "Project" or the "Property"). Three newly identified higher-grade target zones have been outlined by six shallow aircore holes returning samples of more than 2,000 parts per million ("ppm") (0.2% Copper ("Cu")) with these target zones defined by samples ranging from 5,870 ppm Cu (0.58% Cu) to 1,987 ppm Cu (0.20% Cu).

The Pangeni Project mineralization represents westerly extensions to the prolific Zambian Copperbelt. Aircore drilling of other prospects and targets at Pangeni is ongoing as part of the Company's current USD 2 million exploration program which is pro rata funded by BeMetals (72.2%) and the Japan Organization for Metals and Energy Security ("JOGMEC") (27.8%). Highlights of 2023 d-prospect Aircore Results: TARGET ZONE 1: Identified by four aircore holes with copper values of: D14-03: 5,870 ppm Cu, D15-02: 5,079 ppm Cu, D16-03B: 2,942 ppm Cu, and D7-04: 4,363 ppm Cu.

The footprint of this zone at the base of the Kalahari cover is some 400 metres in length and 100-125 metres in width and remains open to the North and South. TARGET ZONE 2: Identified by two aircore holes with copper values of: D17-04: 4,657 ppm Cu, and D18-03: 1,987 ppm Cu. The footprint of this zone at the base of the Kalahari cover is some 250 metres in length and 100 metres in width and remains open to the North and potentially at depth to the South.

TARGET ZONE 3: Identified by two aircore holes with copper values of: D18-01: 3,352 ppm Cu, and D17-02: 2,769 ppm Cu. The footprint of this zone at the base of the Kalahari cover is some 200 metres in length and 100 metres in width and remains open to the South. The 2023 aircore program at the D-Prospect was designed to identify targets for potential higher-grade zones of copper within the mineralization discovered by the Company under the thin Kalahari sand cover.

This objective has been successfully achieved with three exciting target zones defined by the shallow drilling. As designed it appears that with the new sampling results from the 2023 aircore program it is now possible to map target areas where interpreted structural features and relatively reactive host rocks have focused the copper mineralization. Similar higher tenor copper zones controlled by such geological situations are known to exist elsewhere in the Domes Region deposits and mines of the Zambian Copperbelt such as the large scale Lumwana copper mine.

The orientation of these target zones is also generally supported by the interpretation of detailed structural core logging of the drill holes completed to date at this prospect. The target zones are expected to plunge relatively shallowly to the South and South South-West. This likely explains why the aircore holes in the southern area of the prospect do not return elevated copper values, as the target zones are likely below the depth sampled by the shallow aircore in that direction.

The higher-grade target zones are interpreted to range from some 400 to 200 metres in length and 125 to 100 metres in width and are defined by bedrock and weathered bedrock copper values ranging between 5,870 ppm Cu (D14-03) and 1,978 ppm Cu (D18-03). On average in the area of the D-Prospect copper mineralization, core drilled to date, it is covered by 26 metres of Kalahari sand ranging between 18-33 metres in certain areas. As previously reported, to date, copper mineralization at the D-Prospect is interpreted to extend for at least 1.2 kilometres along the strike of the host units.

These previously reported core holes (D2-C1, D2-C2, D7-C1, D7-C2 and D3-C1) returned meaningful and multiple copper intersections ranging from 6.0 to 2.12 metres in width and 0.58% Cu to 0.32% Cu in grade (0.3% Cu cut-off grade). Significant copper mineralization has been intersected in five core drill holes completed at the D-Prospect. The copper grades in these drill holes are similar to those for operating large-scale copper mines in the Domes Region of the Zambian Copperbelt (Examples: First Quantum Minerals' Sentinel Mine Reserves: 876.8 million tonnes grading 0.46% Cu(1) and Barrick Gold's Lumwana Mine Reserves: 538.8 million tonnes grading 0.56% Cu(2)).