(MENAFN- Newsfile Corp) Toronto, Ontario--(Newsfile Corp. - October 17, 2025) - Metal Energy Corp. (MERG: TSXV) (MEEEF: OTCQB) (the " Company " or " Metal Energy ") is pleased to announce an update on its Projects, as well as a corporate update.

New Opportunities

Metal Energy continues to evaluate additional acquisition opportunities to build on its portfolio of high-quality assets in prolific mining jurisdictions, such as the Highland Valley District and the Thompson Nickel Belt.

Corporate Update

The Company is pleased to announce a consolidation of its outstanding Common Shares on the basis of one (1) new Common Share for every five (5) currently outstanding Common Shares.

Immediately prior to the consolidation there are expected to be 141,346,980‎ Common Shares issued and outstanding, and it is expected that there will be ‎28,269,396 Common Shares following the consolidation, subject to rounding for any fractional shares.

The Company's ‎name and trading symbol will remain unchanged.‎ A new CUSIP number of 591088208 (ISIN: CA5910882086) replaces the old CUSIP ‎number.

The consolidation is expected to take effect on October 20, 2025 and is subject to TSX Venture Exchange approval.

The consolidation is being conducted on a "push-out" basis. Registered shareholders holding share certificates will be mailed a replacement certificate or a direct registration advice representing their post-consolidation shares. Until surrendered for exchange, following the effective date of the consolidation, is expected to be October 20, 2025, each share certificate formerly representing pre-consolidation shares will be deemed to represent the number of whole post-consolidation shares to which the holder is entitled as a result of the consolidation.

Holders of shares of the Company who hold uncertificated shares (that is shares held in book-entry form and not represented by a physical share certificate), either as registered holders or beneficial owners, will have their existing book-entry account(s) electronically adjusted by the Company's transfer agent or, for beneficial shareholders, by their brokerage firms, banks, trusts or other nominees that hold in street name for their benefit. Such holders do not need to take any additional actions to exchange their pre-consolidation shares for post-consolidation shares. If you hold your shares with such a bank, broker or other nominee, and if you have questions in this regard, you are encouraged to contact your nominee.

The exercise or conversion price and the number of Common Shares issuable under any of the Company's ‎outstanding warrants, stock options and other securities exercisable for or ‎convertible into Common Shares will be proportionately adjusted to reflect the consolidation in accordance ‎with the respective terms thereof.‎

No fractional shares will be issued as a result of the share consolidation. The number of post consolidation shares to be received by a shareholder will be rounded up, in the case of a fractional interest that is 0.5 or greater, or rounded down, in the case of a fractional interest that is less than 0.5, to the nearest whole number of shares that such holder would otherwise be entitled to receive upon the implementation of the share consolidation.

About Metal Energy

Metal Energy is a critical metals exploration company with two high-potential projects in politically stable, Canadian jurisdictions: Manibridge (Ni-Cu-Co-PGE) (85%-owned) in Manitoba and its recently acquired Highland Valley Project (Cu-Mo-Ag-Au-Re) (100%-owned) in British Columbia.

MENAFN17102025004218003983ID1110210439