Canadian Metals Provides Corporate Update: Announces AGSM Date, Confirms Executive Chairman and Proposes Name Change

Canadian Metals Inc. CSE: CME

Canadian Metals Provides Corporate Update: Announces AGSM Date, Confirms Executive

Chairman and Proposes Name Change

April 24, 2023, Montréal, Québec. - Canadian Metals Inc. (“CME” or the “Corporation”) (CSE: CME)

is pleased to announce that it will hold an annual general and special meeting of shareholders (the

“Meeting”) on May 17, 2023. The record date for the shareholders entitled to vote at the Meeting has been

set as shareholders of record as at the close of business on April 12, 2023. At the Meeting, the shareholders

will be asked:

 to consider a special resolution to approve to continue the Corporation under the Canada Business

Corporations Act and to adopt a new by-laws (the “Continuance”);

 to consider a special resolution to approve a consolidation of the Corporation’s common shares on

the basis of one post-consolidated share for every five pre-consolidated shares, or such lesser ratio

as the board of directors of the Corporation may deem adequate (the “Consolidation”); and

 to consider a special resolution to approve the change of the name of the Co rporation to “Silver

Brook Resources Inc./Ressources Silver Brook Inc.” or such other name as the board of directors

of the Corporation may approve (the “Name Change”).

Details of the Continu ance, Consolidation and Name Change are contained in the Co rporation’s

management information circular dated April 17, 2023, which will be mailed to the shareholders and filed

on SEDAR at www.sedar.com.

The Corporation also confirms the appointment of Mr. Michel Gagnon as Executive Chairman of the

Corporation. In light of unforeseen management issues, in addition to his role as director of the Corporation,

Mr. Gagnon had to take on a management role on an interim basis.

Correction

The Corporation also provides a correction that under the first tranche of the private placement closed on

December 29, 2022, the Corporation issued i. 55,261,361 units each is consisted of one common share of

the Corporation (each, a “ Share”) on “flow-through” basis and one Share purchase warrant (each, a “ FT

Unit”), and ii. 18,324,000 units each is consisted of one Share and one Share purchase warrant (each, a

“NFT Unit”). Together with the second tranche closing, the Corporation issued an aggregate number of

55,261,361 FT Units and 23,852,556 NFT Units.

About Canadian Metals Inc.

Canadian Metals is a diversified resource company focused on creating shareholder value through the

development of large-scale mineral deposits in specific commodities and safe jurisdictions.

For more information, please contact:

Michel Gagnon

On behalf of the Board of Directors

Website: www.canadianmetalsinc.com

Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy

of this release.

The statements in this news release that are not historical facts are “forward -looking statements”. Readers are

cautioned that any such statements are not guarantees of future performance, and that actual developments or results

may vary materially from those described in such “forward-looking” statements.