Vancouver, British Columbia--(Newsfile Corp. - December 27, 2024) - NINE MILE METALS LTD. (CSE: NINE) (OTC Pink: VMSXF) (FSE: KQ9) (the "Company" or "Nine Mile") is pleased to announce that it completed a non-brokered private placement (the "FT Private Placement") for proceeds of $160,000 from the issuance of 4,571,429 units of flow-through (each, an "FT Unit") at a price of $0.035 per FT Unit.

Each FT Unit consists of one flow-through common share of the Company and one common share purchase warrant (each, an "FT Warrant"), with each FT Warrant entitling the holder thereof to purchase one common share at a price of $0.05 for a period of 5 years.

In consideration for their services in introducing subscribers to the Company under the FT Private Placement, finders and brokers received 320,000 common share purchase warrants, exercisable to purchase one common share at a price of $0.035 for a period of 5 years, and cash of $11,200.

The Company intends to use the net proceeds of the FT private placement to carry out the current and intended work programs on its Wedge and California Lake properties. This work will be eligible as "Canadian Exploration Expenses" that qualify as "flow-through mining expenditures" as both terms are defined in the Income Tax Act (Canada).

No Related Parties participated in and no new control persons were created by the Private Placement.

All securities issued in the Private Placement are subject to a four month and a day hold period.

About Nine Mile Metals Ltd.:

Nine Mile Metals Ltd. is a Canadian public mineral exploration Company focused on VMS (Cu, Pb, Zn, Ag and Au) exploration in the renowned Bathurst Mining Camp (BMC), located in New Brunswick, Canada. The Company's primary business objective is to explore its four VMS Projects: Nine Mile Brook VMS Project, California Lake VMS Project, the Canoe Landing Lake (East - West) VMS Project, and the Wedge VMS Project. The Company is focused on critical minerals exploration, positioning itself for the boom in EV and green technologies requiring copper, silver, lead, and zinc with a hedge on gold.

Forward-Looking Information:

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Nine Mile. Forward-looking information is based on certain key expectations and assumptions made by the management of Nine Mile. In some cases, you can identify forward-looking statements by the use of words such as "will," "may," "would," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "could" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward looking statements in this release include that (a) the Company intends to use the net proceeds of the FT private placement to carry out the described work programs on its properties and (b) the work done will be eligible as "Canadian Exploration Expenses" that qualify as "flow-through mining expenditures" as both terms are defined in the Income Tax Act (Canada). Although Nine Mile believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Nine Mile can give no assurance that they will prove to be correct.

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.