Vancouver, British Columbia--(Newsfile Corp. - March 26, 2024) - NINE MILE METALS LTD. (CSE: NINE) (OTCQB: VMSXF) (FSE: KQ9) (the "Company" or "Nine Mile") is pleased to announce it has received certified assays for drill hole WD-24-02 at the Wedge Mine situated in the renowned Bathurst Mining Camp, New Brunswick (BMC).

WD-24-02 HIGHLIGHTS:

• Drill hole WD-24-02 confirms the presence of a new, larger mineralized system at the Wedge VMS Project, intersecting three mineralized zones spanning from 36.74m to 173.05m. This 136.31m width assays 0.44% Cu, 0.07% Pb, 0.54% Zn, 0.06 g/t Au and 3.52 g/t Ag.

• Three zones of visual mineralization were identified: (1) 36.74m-49.90m, (2) 88.90m-110.00m, and (3) 134.00m-174.00m, with the sulphide mineralogy primarily consisting of pyrite and lesser chalcopyrite, sphalerite, and galena.

• The Main Copper Zone occurs between 134.00m and 174.00m, spanning 40.00m and assaying 1.32% Cu, 0.21% Pb, 1.54% Zn, 8.8g/t Ag, and 0.164 g/t Au (refer to Table 1).

• Included in the above main copper zone, 157.65m - 173.05m (15.40m) assayed 2.03% Cu, 0.52% Pb, 3.73% Zn, 0.34 g/t Au, and 20.35 g/t Ag (refer to Table 2).

• The hole was collared on the northeast flank of the historic Wedge Deposit and drilled at an azimuth of 160 degrees and a dip of -50 degrees to a depth of 219.5m.

• Zinc mineralization coincides with copper, with a distinct higher-grade zone intersected at the base of the main copper zone.

• Recent acquisition of Cominco Data confirms that the subsurface was not previously mined.

• The closest Cominco holes in this area of the Wedge are approximately 70m east.

Table 1: Certified Assays (134.00m - 174.00m)

Table 2: Certified Assays (157.65m - 173.05m)

Figure 1: VMS Mineralization - Locally Massive Chalcopyrite Hole WD-24-02 The Wedge

Patrick J. Cruickshank, MBA, CEO & Director, expressed, "We are thrilled to release the certified assays for our successful Wedge drill hole WD-24-02 in the Target 1 extension zone of the Historic Wedge Mine, confirming unmined mineralization. The 136.31m mineralization represents a highly positive development, delineating three specific zones and indicating the presence of a larger mineralized system, displaying a larger system exists. Our ongoing mandate to define an expanded footprint and increased tonnage at this Copper Rich Deposit is well underway. The newly acquired Cominco historic drill hole data sets (surface & underground) is currently being modelled for 3D analysis. We will incorporate this summary of the drill program information, including the results, and we are confident it will paint a very compelling picture of the site. The Wedge Project is increasingly becoming a significant asset for Nine Mile Metals, and we look forward to being able to explore our other high priority targets within the Wedge Project area, including the West Wedge, Tribag and Target #6 (Wedge Target North), which was recently acquired and is potentially linked to the same system encountered in our successful California Lake East VMS Drill Program in 2022. The target spans both the California East & Wedge Project Land packages."

Figure 2: Base of Massive VMS Mineralization in contact with black sediments, Drill Hole WD-24-02

"Drill Hole WD-24-02 demonstrates that significant copper mineralization over substantial widths remain at the historic Wedge mine site to the east and southeast of the previous workings. Subsequent to the start of the 2024 drill program, the Cominco drill data was acquired and is presently being digitized to facilitate 3D modeling. We look forward to merging the 2024 drill data when assaying is complete with the historical information in order to best plan a stage 2 program at the Wedge," commented Gary Lohman, PGO, VP Exploration & Director.

Figure 3: Plan View, Drill Hole Locations

The disclosure of technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and reviewed and approved by Gary Lohman, B.Sc., PGO., VP Exploration and Director who acts as the Company's Qualified Person, and is not independent of the Company.

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.

ON BEHALF OF NINE MILE METALS LTD.

"Patrick J. Cruickshank, MBA"
CEO and Director
T: 506-804-6117
E: patrick@ninemilemetals.com

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 press release include that (a) the Company will incorporate the Cominco historic drill hole data sets with the summary of the drill program information, including the results, and we are confident it will paint a very compelling picture of the site, (b) we look forward to being able to explore our other high priority targets within the Wedge Project area, including the West Wedge, Tribag and Target #6 (Wedge Target North), which was recently acquired and is potentially linked to the same system encountered in our successful California Lake East VMS Drill Program in 2022, and (c) we look forward to merging the 2024 drill data when assaying is complete with the historical information in order to best plan a stage 2 program at the Wedge. 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.