Nine Mile Metals Announces (7) New High Priority TDEM VMS Drill Targets at the West Wedge and Tribag Zones

Vancouver, January 6, 2025 - Nine Mile Metals Ltd. (CSE: NINE) (OTC Pink: VMSXF) (FSE: KQ9) (the "Company" or "Nine Mile") is pleased to provide an update on its Wedge Time Domain Electromagnetic Survey conducted by EarthEx Geophysical Solutions Inc. (EEX) over the Tribag and West Wedge VMS Zone Areas. Previously in 2022, EEX had reprocessed the legacy MegaTEM and Aerodat airborne data, the late time conductance defining a total of (11) Priority VMS Trends in the company's Western Portfolio. Priority target 1 overlies the Wedge Mine and while priority target 2 is an extension of 1. Approximately 3.0 kilometers northwest of the Wedge Mine are priority Targets 3 and 4 which directly correspond to the Tribag (Pb / Zn) and West Wedge (Cu - Pb - Zn) VMS mineral occurrences while target 7 is approximately 6 kilometers northwest of the Wedge along the same (Wedge VMS Trend). The overall extent of the Wedge VMS Trend is approximately 6.5 kilometers. Two lines were also surveyed over Target 6 north of the Wedge and near the southern terminus of the California Lake East VMS Trend (Target 8) drilled in 2022 (Figure 1) where 8 drill holes confirmed VMS mineralization with drill intersections up to 19m in width.

Figure 1: BMC Western Portfolio Projects

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Gary Lohman, Director, P.Geo., VP Exploration, stated, "The size, extent and location of the target plates is very encouraging especially since mineralization is already present above these target plates at Tribag in both drill hole and at surface. With only a third of the extensive Wedge VMS trend surveyed, the team looks forward to not only drilling these priority targets, but also working along the trend to infill the gap between the Wedge mine area, Tribag and further north towards Target 7 in 2025."

Figure 2: Wedge TDEM Survey Grid over Remanent Magnetic Intensity (RMI), covering Targets areas (3-4-6-7)

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A total of 17.4-line kilometers of Time Domain Electromagnetics (TDEM) were surveyed by EEX, the "Maxwell Plate" modeled results of the strong conductors defining an outstanding cluster of 7 individual targets associated with the Tribag and West Wedge VMS mineral occurrences. The modeled plates are along the same magnetic trend as the historic Wedge Mine.

At the Tribag, (Figure 1: Target 4) mineralization occurs both, in previous shallow drill holes and at surface, a grab sample from trench LF17-11 returning 12.6% Zn, 7.22% Pb and 0.53% Cu. At the West Wedge, (Figure 1: Target 3) drilling conducted in the 1980's report assays up to 0.78% Cu, 5.35% Pb, 12.9% Zn, 70.62 g/tonne Ag and 1.37 g/tonne Au over 3.75 m (12.3 ft) drill width.

A total of 7 individual target plates were modeled from the TDEM data with 6 (B1, C1, C2, C3, C4 and D1) shown on Figure 3. Plate A1 is large and at depth, its size suggests a regional, stratigraphic, or structural feature (Figure 4). That has yet to be determined.

As shown on Figures 3 and 4, there are 7 modeled target plates clustered adjacent to the Tribag - West Wedge VMS occurrences, and except for A1, all are at modest depths (300-450m) . Another striking feature is their size relative to the mineralized plates defined at the Wedge. These correlate positively with the entire Late Time Conductor Axis Analysis, including the Wedge Mine itself.

Figure 3: Plan View, Mineral Occurrences, Survey Grid and Modeled Target Plates over the RMI.

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Figure 4: Looking West, Target Plates (A1, B1, C1, C2, C3, C4 and D1.)

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Patrick J Cruickshank, CEO & Director, stated, "we are very excited with the analytical deliverables from EarthEX on the important Wedge Trend in our western portfolio. The fact that the previously identified strong late-time conductor axis correlates perfectly with the TDEM Survey results and has identified 7 Maxwell Plate targets is outstanding. Many of the VMS deposits identified in the BMC occur in clusters. A perfect example mentioned previously are the HalfMile, Stratmat & Heath Steele deposits. The fact that there is VMS mineralization in previous work above these deeper targets is also very encouraging. These targets will be a Spring 2025 priority drill program as soon as access is possible. Included in that designed program will be additional drill holes in the western Wedge Mine area, testing the deeper, unmined portions of the known deposit and additional new untested western extension areas identified. This project is still a highly valued priority for Nine Mile especially on the heels of our highly successful eastern extension confirmation where drill hole WD-24-02 intersected three mineralized zones spanning from 36.74m to 173.05m. This 136.31m width assayed 0.44% Cu, 0.07% Pb, 0.54% Zn, 0.06 g/t Au and 3.52 g/t Ag. We look forward to updating our recently completed California Lake South Drill Hole with its BHEM Survey and our Nine Mile Brook Project Bulk Sample update."

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 Critical Minerals 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 press release include that (a) these targets will be a Spring 2025 priority drill program as soon as access is possible. Included in that designed program will be additional drill holes in the western Wedge Mine area, testing the deeper, unmined portions of the known deposit and additional new untested western extension areas identified, (b) with only a third of the extensive Wedge VMS trend surveyed, the team looks forward to not only drilling these priority targets, but also working along the trend to infill the gap between the Wedge mine area, Tribag and further north towards Target 7 in 2025, and (c) we look forward to updating our recently completed California Lake South Drill Hole with its BHEM Survey and our Nine Mile Brook Project Bulk Sample update. 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.

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