Neotech Metals Announces Closing of its Flow-Through Financing

Vancouver, British Columbia--(Newsfile Corp. - April 10, 2024) - Neotech Metals Corp. (CSE: NTMC) (OTC Pink: NTMFF) (FSE: V690) ("Neotech" or the "Company"), is pleased to announce, further to its news release of March 21, 2024, that it has closed its non-brokered flow through financing (the "Offering").

Under the Offering, the Company issued 1,142,858 flow-through units of the Company ("FT Units"), at a price of $0.70 per FT Unit, for gross proceeds of $800,000, with each FT Unit comprised of one common share that qualifies as a "flow-through share" as defined in the Income Tax Act (Canada) and one-half of one flow-through share purchase warrant entitling the holder to purchase one (non-flow-through) common share at a price of $0.80 for a period of three years.

The Company paid finder's fees of $56,000 in cash to certain finders in connection with the sale of FT Units.

The Warrants will be subject to an acceleration provision whereby, if for any 15 consecutive trading day period, the closing price of the Company's common shares (the "Shares") exceeds $1.00 per Share on the Exchange, the Company may announce by way of news release that the expiry date of the warrants will be accelerated to 30 days thereafter.

The FT Units, including all underlying securities, are subject to a hold period of four months and one day from the date of issue of the FT Units. The net proceeds from the sale of the FT Units will be used for qualified expenditures in respect of the Company's Canadian mineral properties.

For more Information please contact:
Reagan Glazier, Chief Executive Officer
E-mail: [e-mail]
Telephone:[phone]

About Neotech Metals Corp.

Neotech Metals Corp. is a mineral exploration company dedicated to discovering and developing valuable mineral resources in promising regions around the world. With a strong commitment to environmental stewardship and sustainable practices, Neotech is positioned to make a positive impact while maximizing the potential of its exploration properties.

The Company is a mineral exploration company based in Vancouver, B.C., and owns 100% of its TREO Rare Earth Element Property, located 90km northeast of Prince George, British Columbia, and 100% of its Foothills Rare Earth Element Property located in Central British Columbia. The Company also holds options on the EBB nickel-cobalt property in British Columbia, Canada.

Forward-Looking Statements

Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will", "will be" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are from those expressed or implied by such forward-looking statements or forward-looking information subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward- looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

The CSE has not reviewed, approved, or disapproved the contents of this press release.

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