Collective Metals Inc. (the Company or Collective) announced to discuss geophysical results acquired by a previous operator and implications for its Princeton Project in southwest British Columbia (the Project or the Project). The exploration targets for the Project are multiple Alkalic Cu-Au porphyry associated with Triassic age diorite intrusions similar to that being currently mined at Copper Mountain, located approximately 10 km east which represents the deposit model for the Project. The company's exploration model resembles the model used at Kodiak Copper?s MPD property, located approximately 30 km to the north-northeast.

Documented mineralized occurrences are present within, and adjacent to, the company's Project, supported by a wealth of information acquired by previous operators, the BC Geological Survey Branch and Geoscience BC Kodiak Copper has demonstrated the benefit and cost effectiveness of 3D IP surveys in identifying and delineating new subsurface targets associated with their project. A 3D IP survey was completed by the previous operator on the Trojan ? Condor Corrido in our current Project area, a comparatively small area in the central portion of the property underlying several showings and the Trojan (092HSE267) and NEV MINFILE (092HSE112) occurrences.

The eastern portion of the survey is concealed by Princeton Group cover, which hinders identification of geophysical anomalies. Despite that, several anomalies were identified (Fig. 1).

These results indicate that additional potential targets of interest are present below the Princeton Group cover sequence underlying the east side of the survey area. The most significant features of interest from this limited survey are the highly prominent Bolas and Condor anomalies (Fig. 1 and 2) underlying the west side of the survey area.

The very strong Condor geophysical anomaly extends from surface to a depth of at least 500m (the interpreted limit of reliable signal penetration with depth) and is associated with surface mineralization. The adjacent Bolas anomaly increases in intensity with depth, associated with surface mineralization. The three nodes evident at shallow depth (i.e., 50 m; Fig.

1) progressively merge with depth into a strong geophysical anomaly similar to the Condor. The interpretation of the previous operator was that the 3D IP geophysical anomalies represent an increased proportion of sulphides related to spatially associated diorite intrusions. A large number of subsurface geophysical anomalies are present, ranging from weak through moderate to the very strong Bolad and Condor anomalies.

Furthermore, the company's interpretation indicates strong potential for identification of sulphide mineralization, including copper sulphides, as documented by surface soil and rock geochemical results. Ultimately, the presence of multiple mineralized showings, as documented by the previous operator and MINFILE occurrences, is interpreted to indicate potential for multiple, mineralized porphyries associated with the large, spatially associated, high intensity magnetic anomaly . In summary, the Princeton Project is interpreted to host a sub-surface, potentially mineralized intrusive complex similar to that exposed at Copper Mountain.