Enduro Metals Provides Update on Share Consolidation

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KELOWNA, BC, Dec. 18, 2023 /CNW/ - Enduro Metals Corporation (TSXV: ENDR) (OTC: SIOCF) (FSE: SOG-FF) ("Enduro" or the "Company") is pleased to provide an update on the previously announced consolidation of its Common Shares (the "Consolidation"). 

Subject to regulatory approval, including the approval of the TSX Venture Exchange, effective on or about December 22, 2023, Enduro will complete a consolidation of its Common Shares on the basis of one (1) post-Consolidation Common Share for each ten (10) pre-Consolidation Common Shares. Where the exchange results in a fractional share, the number of Common Shares will be ‎rounded up to the next greater whole number of Common Shares if the fractional entitlement is equal to or greater than 0.5 and shall, without any additional compensation, be rounded down to the next lesser whole number of Common Shares if the fractional entitlement is less than 0.5 and, in calculating such fractional interests, all Common Shares registered in the name of and held by such shareholder shall be aggregated. A new CUSIP number of 29279W300 replaces the old CUSIP number of 29279W201 to distinguish between the pre- and post- Consolidated Common Shares. The Company's name and trading symbol will remain unchanged.

Commencing at the opening of trading on or about December 22, 2023 the Common Shares will trade on a post-Consolidation basis on the TSX Venture Exchange. Following the Consolidation, there are expected to be 24,099,494 post-Consolidation shares outstanding.

About Enduro Metals

Enduro Metals is an exploration company focused on it's flagship Newmont Lake Project; a total 688km2 property located between Eskay Creek, Snip, and Galore Creek within the heart of northwestern British Columbia's Golden Triangle. Building on prior results, the Company's geological team have outlined 4 deposit environments of interest across the Newmont Lake Project including high-grade epithermal/skarn gold along the McLymont Fault, copper-gold alkalic porphyry mineralization at Burgundy & 72 Zones, encouraging porphyry-style alteration typical of alkalic copper-gold porphyry systems at North Toe, and a large 9km x 4km geochemical anomaly hosting various gold, silver, copper, zinc, nickel, cobalt, and lead mineralization along the newly discovered Chachi Corridor.

On Behalf of the Board of Directors,

ENDURO METALS CORPORATION

"Cole Evans"

Chief Executive Officer

As a continued effort to keep investors, interested parties and stakeholders updated, we have several communication initiatives. If you have any questions online (Twitter, Facebook, LinkedIn, or Instagram) feel free to send direct messages or a post and include the hashtag #askENDR.

Forward-Looking Statements

This news release contains statements that constitute "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause Enduro's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.

Although Enduro believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE Enduro Metals Corporation

Ali Wasiliew - Manager of Communications, Tel: + [phone], Email: [email protected], Email: [email protected] https://www.endurometals.com