Collective Metals Files NI 43-101 Technical Report for the Princeton Project

VANCOUVER, June 29, 2023 - Collective Metals Inc. (CSE: COMT | OTC: CLLMF | FSE: TO1) (the "Company" or "Collective"), is pleased to announce it has filed a report titled "NI 43-101 Technical Report on Princeton Project" (the "Report") prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects.

The Report represents a concise summary of all currently available data on the Princeton Project (the "Project"), which will be used to guide the Company's exploration and drilling programs. The Report can be found on the Company's website at collectivemetalsinc.com/princeton and on SEDAR at www.sedar.com, under the Company's Issuer Profile.

The Report offers valuable insights into the existing data from previous work to better guide future programs. Recommendations from the report include the following:

• Continued compilation of the data available for the Project, including, but not limited to: geology, geochemistry and geophysics,
• Further processing of the ground magnetic and 3D IP data to produce sub-surface 3D anomalies to assist in identifying future drill targets,
• Re-logging drill core archived from the 2014 drill program by the previous operator,
• Further mapping and sampling.

Additionally, Collective Metals anticipates the completion of its previously announced extensive soil sampling program on June 30, 2023. The Company will use the results from the soil and rock sampling program to influence further exploration activities during the 2023 field season.

Christopher Huggins, CEO of Collective Metals announced, "Collective continues to work and execute in an efficient manner and we believe completing this independent Report provides a strong base for the Company to build on during the upcoming months. We anticipate moving at a swift pace to implement additional work programs, which will allow us to execute on a drilling program in the near future."

Qualified Person

This news release has been reviewed and approved by Rick Walker, P. Geo., who is acting as the Company's Qualified Person for the Princeton Property project, in accordance with regulations under NI 43-101.

The information disclosed is not necessarily indicative of mineralization on the Princeton Project.

About Collective Metals:

Collective Metals Inc. (CSE: COMT | OTC: CLLMF | FSE: TO1) is a resource exploration company specialized in precious metals exploration in North America. The Company's flagship property is the Princeton Project, located in south-central British Columbia, Canada, approximately 10 km west of the currently producing Copper Mountain Mine. The Princeton Project consists of 29 mineral tenures totaling approximately 28,560 ha (70,570 acres) in a well documented and prolific copper-gold porphyry belt and is easily accessible by road, located immediately west of Highway 3.

The Company's Landings Lake Lithium Project, which is located in northwestern Ontario where numerous lithium deposits have been delineated to host significant reserves of Li₂O. The Landings Lake Lithium Project is located 53 km east of Ear Falls, Ontario and covers 3,146 hectares.

Collective Metals is also advancing the Uptown Gold Project 4 km outside of Yellowknife, adjacent to several high grade past producing mines. The Uptown Gold 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.

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ON BEHALF OF Collective Metals Inc.

Christopher Huggins
Chief Executive Officer
T: 604-968-4844
E: chris@collectivemetalsinc.com

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. Forward looking statements in this news release include, but are not limited to, statements respecting future work. 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.