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METALQUEST ANNOUNCES UP-LISTING TO OTCQB

February 27, 2023, Vancouver, BC, Canada – MetalQuest Mining Inc. (formerly El Nino Ventures Inc.) (“MQM” or the “Company”) (TSXV: MQM; OTCQB: MQMIF; FSE: E7Q.F). is pleased to announce that after successful completion of the application process, the Company has been approved to upgrade its common stock from the Pink® Open Market to the OTCQB® Venture Market under the trading symbol “MQMIF”, effective February 28, 2023. The Company’s shares remain listed on the TSX Venture Exchange under the trade symbol MQM.

CEO Harry Barr: “We are pleased to have our company accepted for trading on the OTCQB Venture Markets. The United States is becoming a robust market for retail and institutional Investors who follow the mining and exploration industry. Our objective is to broaden our shareholder base, improve liquidity and increase the visibility of the Company.”

The OTCQB® Venture Market is a U.S. trading platform operated by the OTC Markets Group in New York. The platform is specifically tailored for growing entrepreneurial companies in the United States and abroad. All qualified OTCQB trading companies must meet certain minimum standards, such as providing current financial reporting documents, and undergo an annual verification and management certification process. The OTCQB is recognized by the United States Securities and Exchange Commission as an established public market providing public information for analysis and value of securities. Investors can find real-time quotes and other valuable information on the Company at www.otcmarkets.com/stock/MQMIF/overview

About MetalQuest Mining Inc.

METALQUEST MINING (TSXV:MQM OTCQB:MQMIF) is a strategic metals exploration and developmental company. MQM owns 100% of one of North Americas largest undeveloped Iron Ore Projects. NI 43-101 resource calculations and a Feasibility Study (2015) have been completed on the Project. The Lac Otelnuk Iron Ore Project is located approximately 165 km by air northwest of the village of Schefferville, and 1200 km northeast of Montreal by air. The Company is diversified and holds a ~29% stake in Murray Brook PEA Stage Polymetallic VMS Deposit, situated in the famous Bathurst Mining District, New Brunswick, Eastern Canada. Votorantim Metals Canada Inc. owns the other 71%. Presently the Company has 26.91 million shares outstanding. For further information on the Company and to join our distribution list please visit MetalQuestMining.com or call +1 613 659 2773 or +1 800 667 1870. We can be reached by email at [email protected].

On behalf of the Board of Directors

“Harry Barr”

Harry G. Barr Chairman and CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward Looking Statements: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results and are based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. In addition, forward-looking statements include statements in which the Company uses words such as “continue”, “efforts”, “expect”, “believe”, “anticipate”, “confident”, “intend”, “strategy”, “plan”, “will”, “estimate”, “project”, “goal”, “target”, “prospects”, “optimistic” or similar expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company’s ability and continuation of efforts to timely and completely make available adequate current public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company does not undertake any obligation to review or confirm analysts’ expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forwardlooking statements.