EARLY WARNING REPORT FILED PURSUANT TO NATIONAL INSTRUMENT 62-103

MONTREAL, Dec. 20, 2023 /CNW/ - Victor Cantore announces that, directly and indirectly, he has disposed (the "Disposition") an aggregate of 13,623,351 common shares (each, a "Share") of Canadian Metals Inc. ("CME").

Prior to the Disposition, Mr. Cantore, a 10% insider of the Corporation, held directly and indirectly, held 13,677,837 Shares of CME. Following the Disposition, he now has control and direction over an aggregate of 54,486 Shares, representing 0.03% of the issued and outstanding Shares.

All securities of CME controlled by Mr. Cantore are held for investment purposes. In the future, he (directly or indirectly), may acquire and/or dispose of securities of CME through the market, privately or otherwise, as circumstances or market conditions may warrant.

This press release is issued pursuant to the early warning requirements of National Instrument 62-104 – Take-Over Bids and Issuer Bids and National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. A copy of the early warning report to be filed by Mr. Cantore in connection with the Disposition will be available on the Issuer's SEDAR profile once it has been filed in accordance with applicable securities laws.

SOURCE Victor Cantore