Academy Metals Announces Private Placement

#313 -515 West Pender Street, Vancouver, BC, Canada, V6B 6H5

http s://acadmetals. com

NEWS RELEASE

ACADEMY METALS ANNOUNCES PRIVATE PLACEMENT

Vancouver, Canada – June 27, 2022 – Academy Metals Inc. (the “Company”) (TSXV: AM) announces that

it will offer up to 8,333,334 units (each, a “Unit”) by way of non-brokered private placement at a price of

$0.12 per Unit for gross proceeds of up to $1,000,000. Each Unit will consist of one common share and

one common share purchase warrant exercisable to acquire an additional common share at a price of

$0.16 for a period of sixty months.

The Company intends to utilize the proceeds from the placement for general working capital purposes,

and to complete planned field work at its wholly owned Margurete Gold Project, located at Phillips Arm

in southwestern British Columbia.

In connection with the placement, the Company may pay finders’ fees to eligible third parties that have

assisted in introducing subscribers to the Company. All securities to be issued in connection with the

placement will be subject to a four -month-and-one-day statutory hold period in accordance with

applicable securities laws. Completion of the placement remains subject to the approval of the TSX

Venture Exchange.

On behalf of the Board,

Academy Metals Inc.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX

Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private

Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release,

the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “s chedule” and similar

words or expressions identify forward -looking statements or information. These forward -looking statements or

information may relate to the completion of the contemplated private placement, the intended use of the proceeds

from such placement and the ongoing development of the Margurete Gold Project and other factors or information.

Such statements represent the Company’s current views with respect to future events and are necessarily based upon

a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to

significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors,

both known and unknown, could cause results, performance, or achievements to be materially different from the

results, performance or achievements that are or may be expressed or implied by such forward -looking statements.

The Company does not intend, and does not assume any obligation, to update these forward -looking statements or

information to reflect changes in assumptions or changes in circumstances or any other events affecting such

statements and information other than as required by applicable laws, rules and regulations.