Metals One announced that the Company's SRH Råna Project (nickel, copper, cobalt) partner and operator, Kingsrose Mining Limited, has received all analytical results from the 2023 core drilling programme, where a total of 4,318m were drilled across 12 holes. Rånbogen Prospect: Holes 23RAN004 and 23RAN005 intercepted mineralisation 60m up-dip and 40m east of the massive sulphide zone intercepted in 23RAN002 (26.2m at 0.7% Ni, 0.2% Cu and 0.06% Co from 169.0m, o This zone of mineralisation has been drill proven over 200m of strike and remains open in all directions, within a 1.6km trend of mineralisation and conductive anomalies; o Hole 23RAN004 intercepted 1.4m at 1.8% Ni, 0.2% Cu, 0.19% Co from 233.9m; o Hole 23RAN005 intercepted three zones of mineralisation, including 13.3m at 0.4% Ni, 0.1% Cu, 0.02% Co from 151.1m; 0.3m at 1.3% Ni, 0.3% Cu, 0.12% Co from 215.3m; and 0.6m at 0.8% Ni, 0.1% Cu, 0.09% Co from 228.2m; Several priority areas of outcropping massive sulphide nickel mineralisation associated with conductive geophysical anomalies extending to depth remain to be to be drilled in 2024; Malmhaugen Prospect: Hole 23RAN006 intercepted a new zone of massive sulphide mineralisation named 'Malmhaugen', located 1.1km east-northeast of Rånbogen; o 23RAN006 was drilled to test a 750m long, east-west striking elongate Magnetotelluric conductor with a coincident Electromagnetic plate; Three zones of sulphide breccia were intercepted including 5.2m at 0.4% Ni, 0.2% Cu, 0.11% Co from 63.0m, and 11.5m at 0.3% Ni, 0.1% Cu, 0.07% Co from 126.8m; Further EM surveys and drilling are planned to test this large conductive and mineralised anomaly. Bruvann Prospect: Hole 23BRU005 extended mineralisation by 200mto the west along strike from the Bruvann mine with a blind, narrow high-grade nickel sulphide intercept; o 2.6m at 1.0% Ni, 0.1% Cu, 0.03% Cofrom 414.9m, including 0.6m at 3.2% Ni, 0.3% Cu, 0.07% Co from 416.9m; o The hole was collared in gneiss targeting an EM plate in a zone previously considered closed and unprospective.

2024 Exploration Plans: High-priority targets remain to be tested including shallow, strongly conductive anomalies at Rånbogen, down dip and along strike from holes 23RAN001 to 23RAN005, and strongly conductive EM plates and MT anomaly located at the contact between peridotite and graphitic gneiss at Arnesfjellet. Kingsrose intends to commence mapping and geophysical surveys in second quarter current year 2024 (as the weather conditions allow) to generate a pipeline of drill targets and plans to conduct additional core drilling in third quarter current year 2024.