Collective Metals Inc. announced it has received final assay results for soil samples collected from Phase II of the Company's two-phase soil geochemical survey completed in the summer of 2023 on the Princeton Project. The Program was designed to follow up on two multi-element soil geochemical anomalies identified along the Trojan-Condor Corridor in Phase I of the Program as well as systematically test several additional targets with favourable geology, geophysical signatures, and/or historic geochemistry. The Program extended two previously identified anomalies (PA1 and PA2).

The Company believes the Lamont Ridge, Coalmont Road, Findlay, Fourteen Mile, and Trojan-Condor target areas hold potential to host multiple porphyry copper +- gold mineralization and plans to pursue more advanced exploration in 2024. However, at Mt. Milligan, significant surface disturbance from logging and drilling activities have affected the soil profile and resulted in an almost complete loss of a geochemical anomaly from underlying mineralization, which is covered by 5-25 m of glaciofluvial sediments and till.

Peak geochemical anomalies occur over thinnest cover and not necessarily strongest mineralization in both cases, demonstrating how the magnitude of soil geochemical anomalies is dependent on thickness of overburden. The Company plans to continue evaluating targets on the Project in the coming months with re-processed geophysical data in conjunction with all available geochemical and geological data, in preparation for its 2024 Exploration Program. Results of this integration will be released in the coming months.