Metal Energy Video Update on Wide Nickel Mineralization at Manibridge Project

Toronto, January 30, 2023 - Metal Energy Corp. (TSXV: MERG) (OTCQB: MEEEF) (the "Company" or "Metal Energy") is pleased to provide a video on the wide nickel and copper-cobalt mineralization at the Manibridge Project (the "Project" or "Manibridge") in the Thompson Nickel Belt, Manitoba. Recent results include:

• 85.3 composite metres of 0.67% NiEq (57.3 GT) starting at 156 m vertical depth;
• 79.5 composite metres of 0.65% NiEq (51.5 GT) starting at 215 m vertical depth;
• 48.5 composite metres of 0.83% NiEq (40.4 GT) starting at 273 m vertical depth.

These wide nickel intersections outline a mineralized zone that is up to 80 m thick, continuous for 180 m down dip, and open in both dip directions. Metal Energy has assay results from 9 drill holes pending.

In the video linked below, CEO James Sykes details the recent drill results, expectations for the pending assays, and his vision for Manibridge.

Video on "A Robust Nickel System is Growing at Manibridge"

Manibridge Phase 2 Drill Program Results
A total of 10,091 metres were completed over 36 diamond drill holes, including 6 abandoned drill holes, with all completed drill holes intersecting visible nickel sulphides. The drill holes targeted the shallower parts of the Manibridge nickel sulphide system at depths between 100 and 400 metres from surface. The drill hole collar locations were all within 150 to 600 metres of the old mine workings.

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About the Manibridge Project
Manibridge encompasses 4,368 hectares within the world-class Thompson Nickel Belt. The Project is 20 kilometers southwest of Wabowden, which has significant infrastructure and capacity that has supported previous exploration programs and mine development, including year-round highway access via Highway 6.

About Metal Energy Corp.
Metal Energy is a nickel and battery metal exploration company with two projects, Manibridge and Strange, in the politically stable jurisdictions of Manitoba and Ontario, Canada, respectively. The Manibridge Project is 85% owned by Metal Energy and 15% owned by Mistango River Resources Inc. The Strange Project is subject to earn-in agreements where the Company can acquire 100% exploration rights to approximately 12,000 hectares.

QP Statement
The technical information contained in this news release has been reviewed and approved by Mike Sweeny, P.Geo., Vice-President, Exploration & Development for Metal Energy, and a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."

For further information, please contact:

Metal Energy Corp.
MERG on the TSXV
James Sykes, CEO
jsykes@oregroup.ca
306-221-8717
www.metalenergy.ca

Reader Advisory
Certain information set forth in this news release contains forward-looking statements or information ("forward-looking ‎statements"), including details about the business of the Company. By their nature, forward-looking statements are subject to numerous risks ‎and uncertainties, some of which are beyond the Company's control, including the impact of general economic conditions, ‎industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, operational risks, competition from ‎other industry participants, stock market volatility. Although the ‎Company believes that the expectations in its forward-looking statements are reasonable, its forward-looking statements have ‎been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and ‎assumptions are based upon currently available information. Such statements are subject to known and unknown risks, ‎uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially ‎from those stated, anticipated or implied in the forward-looking statements. Accordingly, readers are cautioned not to place undue ‎reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. ‎Risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in our public disclosure ‎documents available at www.sedar.com including the Filing Statement dated November 15, 2021. Furthermore, the forward-looking statements contained in this document are made as of ‎the date of this document and, except as required by applicable law, the Company does not undertake any obligation to publicly ‎update or to revise any of the included forward-looking statements, whether as a result of new information, future events or ‎otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.‎

Neither the TSX Venture Exchange Inc. 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/152861