Early Warning Report Issued Pursuant to NI 62-103 - Transaction Involving Common Shares of PowerStone Metals Corp.

Early Warning Report Issued Pursuant to NI 62-

103 - Transaction Involving Common Shares of

PowerStone Metals Corp.

Vancouver, British Columbia--(Newsfile Corp. - November 8, 2023) - This press release is being

disseminated as required by National Instrument 62-103 -

The Early Warning System and Related

Take Over Bids and Insider Reporting Issues

("NI 62-103") in connection with the filing of an early

warning report by Raymond Harari in connection with a certain transaction involving the common shares

("Common Shares") of PowerStone Metals Corp. (CSE: PS) (OTCQB: PWMCF) (FSE: W0R) (the

"Issuer"), with its head office located at 1900 - 1040 West Georgia Street, Vancouver, British Columbia

V6E 4H3.

On November 8, 2023 (the "Transaction Date"), an entity controlled by Mr. Harari acquired an aggregate

of 130,000 Common Shares through the facilities of the Canadian Securities Exchange (the "CSE") at

an average price of $0.06 per share for aggregate consideration of $7,800 (the "Transaction"). This

Transaction resulted in Mr. Harari exercising control or direction over more than ten percent (10%) of the

Issuer on a partially diluted basis.

Set out below is certain disclosure required to be made in connection with the completion of the

Transactions pursuant to Part 3 of NI 62-103.

All percentages set out in this press release are based on 28,650,833 Common Shares being

outstanding as of the date hereof.

Prior to the Transaction, Mr. Harari owned and controlled 2,625,000 Common Shares and 250,000

stock options (the "Options"), representing approximately 9.16% of the issued and outstanding Common

Shares on a non-diluted basis and approximately 9.95% on a partially diluted basis.

Following the completion of the Transaction, Mr. Harari owns and controls 2,755,000 Common Shares

and 250,000 Options, representing approximately 9.62% of the issued and outstanding Common

Shares on a non-diluted basis and 10.40% on a partially diluted basis.

All securities of the Issuer owned or controlled by Mr. Harari are held for investment purposes and Mr.

Harari has no present intention to dispose of or acquire further Common Shares. In the future, Mr. Harari

may, from time to time, increase or decrease its ownership, control or direction over securities of the

Issuer held by it through market transactions, private agreements or otherwise, depending on market

conditions, the business and prospects of the Issuer, and other relevant factors.

A copy of the early warning report filed by Mr. Harari in connection with the completion of the Transaction

may be obtained from Mr. Harari by contacting the Issuer (telephone #: 647-987-5083; Attention:

Zachary Goldenberg, Chief Executive Officer) and will be available under Issuer's profile on SEDAR+ at

www.sedarplus.ca

.

The head office of Mr. Harari is located at PH Credicorp Bank, Piso 24, Calle 50, Panama City,

Panama.

To view the source version of this press release, please visit

https://www.newsfilecorp.com/release/186760