TORONTO, March 21, 2023 (GLOBE NEWSWIRE) -- Collective Metals Inc. (CSE: COMT) (the "Company" or "Collective Metals") is pleased to announce the appointment of Navin Sandhu as Chief Financial Officer ("CFO") of the Company effective immediately. Mr. Sandhu replaces Michael Hudson, who has resigned from his roles as CFO and director of the Company. Christopher Huggins, the current Chief Executive Officer, has also been appointed to the board of directors of the Company and replaces Robert Davies who has resigned from his role as director of the Company.

Mr. Sandhu, CPA, has years of accounting, auditing and advisory experience through servicing a wide variety of clients. Mr. Sandhu is President and founder of Nava Financial Inc., a public practice accounting firm that specializes in providing CFO and controller services to Canadian publicly listed companies. Previously, Mr. Sandhu was an Audit Manager at DMCL LLP, a Vancouver based public practice firm, where we worked with numerous public and private companies in the junior mining, cannabis, technology, and life science space.

The Company wishes to thank Mr. Hudson and Mr. Davies for their support and contribution to the Company and wish them the best on their future endeavours.

About the Company

Collective Metals Inc. is a resource exploration company specialized in precious metals exploration in the Northwest Territories. Collective Metals is currently advancing the Uptown Gold Project (the "Property") 4 km outside of Yellowknife adjacent to high grade past producing mines. The Property is a high grade Archean lode gold prospect adjoining the Giant Mine in Yellowknife, Northwest Territories. The Property consists of 4 claims covering over 2,000 hectares and borders the west side of the Giant Mine leases. The Property centre is approximately 6km north from downtown Yellowknife, and adjoins TerraX Minerals' Yellowknife City Gold Property. The Property is road accessible year-round via the Ingraham Trail (Territorial Highway 4) which runs through the eastern portion of the claims. Gold was discovered on the Property in 1960 and two targets were explored intensively from 1963 to 1966.

For further information please contact:

Christopher Huggins, CEO
Ph: 604-968-4844
Email: chris@greenwood.capital

FORWARD LOOKING INFORMATION

Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, and dependence on key personnel. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.