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Highlights: Second diamond drill rig now turning at the NIV copper-gold project in British Columbia's Toodoggone District, doubling drilling capacity for the remaining ~4 weeks of the 2026 season Six holes totalling ~4,200 metres already completed toward the planned 6,000 metres, with the program on schedule and the flexibility to drill more this season Added rig will accelerate follow-up drilling on the program's most promising holes and targets, and more fully test the 5-kilometre strike length of the NIV system A more complete drill test this season positions the Company for an expanded drill program at NIV in 2027; assay results to be released as received, reviewed, compiled and interpreted Toronto, Ontario--(Newsfile Corp. - September 3, 2026) - Metal Energy Corp. (TSXV: MERG) (OTCQB: MEEEF) ("Metal Energy" or the "Company") is pleased to announce that a second diamond drill rig has been mobilized to, and is now drilling at, its NIV copper-gold project in the Toodoggone District of British Columbia. Drilling is proceeding on schedule, and the Company now has an additional rig to maximize the metres it can complete during the drill season and to accelerate follow-up drilling on its most promising holes and targets.

Fox Tungsten Ltd (TSX-V:FOXT, OTC:HPYCF, FRA:1HC) has more than doubled its Metal Energy Corp (TSX-V:MERG, OTCQB:MEEEF). stake after receiving nearly 2.4 million shares as payment under a deferred consideration agreement tied to the Highland Valley Project in British Columbia.

Highlights Drill ready and permitted. In July 2026 the Company received a multi-year, area-based Mines Act drill permit authorizing up to 50 drill sites, 11.7 kilometres of new exploration trail and 80 line-kilometres of geophysical surveying.