Metal Energy Announces Additional Strategic Investor: Teck Acquires 9.9% Equity Interest To Fund Exploration On The NIV Property In BC

(MENAFN- Newsfile Corp) Toronto, Ontario--(Newsfile Corp. - December 12, 2025) - Metal Energy Corp. (TSXV: MERG) (OTCQB: MEEEF) (the "Company" or "Metal Energy") is pleased to announce that Teck Resources Limited ("Teck") will make a strategic investment in Metal Energy and becomes a 9.9% shareholder, joining Centerra Gold Inc. ("Centerra"), who will also hold a 9.9% strategic interest.

"We are pleased to welcome Teck as our second strategic investor in Metal Energy. Having one major mining company already on our register provides meaningful validation, adding a second reinforces that confidence. We look forward to having Centerra and Teck form a joint technical advisory committee and believe Teck's long track record in base metals in British Columbia is an excellent complement to Centerra's focus on gold operations in the region. It's worth underscoring how rare it is to have two major mining companies invest in an undrilled asset. Their participation reflects both the quality of the targets and the exceptional work of Charlie Greig and Alex Walcott in advancing this opportunity.

"With this financing fully subscribed and two major mining companies now aligned with us, we hope the broader mining investment community will take notice of Metal Energy and NIV as our team moves toward its next objective of delivering another discovery in the region," said Stephen Stewart, Chairman of Metal Energy.

Strategic Investments by Teck and Centerra

Teck and Centerra are each expected to subscribe for 4,442,000 shares of the total (i) 8,880,000 common shares to be issued on a premium flow-through basis (each, an "FT Share") at a price of C$0.73 per FT Share; and (ii) 6,200,000 common shares (each, a "Share") at a price of C$0.45 per Share. Following completion of the Offering, each of Teck and Centerra are expected to own approximately 9.9% of Metal Energy's issued and outstanding common shares. In connection with the closing of the Offering, the Company will enter into an investor rights agreement with Teck, substantially on par with the investor rights agreement which will be entered into with Centerra, which will include certain top-up and information rights, and will require that funds from Teck be allocated to fund exploration on the Company's NIV property.

Closing of the Offering announced on November 27 (news release here ) is expected to occur on or about December 16, 2025, subject to the satisfaction of customary closing conditions, including receipt of all necessary regulatory approvals and acceptance of the TSX Venture Exchange. All securities issued in connection with the Offering will be subject to a hold period of four months plus one day in accordance with applicable securities laws.

About Metal Energy

Metal Energy Corp. (TSXV: MERG) (OTCQB: MEEEF) is a critical metals exploration company focused on copper and gold assets in Canada. The Company controls NIV, a fully permitted and drill-ready copper-gold-molybdenum project located in British Columbia's prolific Toodoggone District, a region known for significant porphyry deposits.

With the addition of NIV, Metal Energy's portfolio now includes three high-potential projects:

• NIV Project (Cu-Au-Mo, 100% controlled) - Toodoggone District, British Columbia
• Highland Valley Project (Cu-Mo-Ag-Au-Re, 100% owned) - British Columbia
• Manibridge Project (Ni-Cu-Co-PGE, 85% owned) - Manitoba

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