Sterling Metals Announces Results of Its Annual and Special Meeting and Approval of Omnibus Long-Term Incentive Plan

Toronto, August 15, 2022 - Sterling Metals Corp. (TSXV: SAG) (OTCQB: SAGGF) ("Sterling Metals" or the "Company") is pleased to report the voting results from its annual and special meeting held on August 2, 2022 (the "Meeting"). At the Meeting, shareholders approved the election of directors, the appointment of Baker Tilly WM LLP as auditor of the Company and the adoption of an omnibus long-term incentive plan.

The Company omnibus long-term incentive plan ("LTIP") is a rolling 10% plan, and it aligns with certain revisions made to TSX Venture Exchange Policy 4.4 - Security Based Compensation ("Policy 4.4"), which came into effect on November 24, 2021. The LTIP was conditionally approved by the TSX Venture Exchange on June 27, 2022. A copy of the LTIP was included as Appendix B to the management information circular dated June 28, 2022, which has been filed on the Company's profile on SEDAR at www.sedar.com. For more information on the changes to Policy 4.4, please see the TSXV Bulletin re Policy 4.4 - Security Based Compensation dated November 24, 2021.

For more information, please contact:

Sterling Metals Corp.
Mathew Wilson, President & CEO
Tel: (416) 643-7630
Email: info@sterlingmetals.ca
Website: www.sterlingmetals.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains certain "forward-looking information" within the meaning of applicable securities laws. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

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