Metalero Proposes Private Placement

Metalero Mining Corp.

10545 - 45 Avenue NW

250 Southridge, Suite 300

Edmonton, AB CANADA T6H 4M9

METALERO PROPOSES PRIVATE PLACEMENT

Edmonton, AB –August 30, 2024 – Metalero Mining Corp. (the “Company” or “Metalero”) (TSXV:

MLO; OTCPK: CRTTF) is pleased to announce its intention to complete a non-brokered private placement

financing (the “Offering”) of up to 7,690,000 shares (the “Shares”) at a price of $0. 15 per Share to raise

gross proceeds of up to $1,153,500, of which $953,500 has been previously raised. None of the proceeds

of the Offering will be used for payments to non-arm’s length parties of the Company, nor for any payments

to persons conducting investor relations activities.

The Shares will be subject to a hold period legend prohibiting resale for 4 months and a day from the date

of closing of the Offering. The terms of the Offering are subject to the applicable securities laws and the

acceptance of the TSX Venture Exchange (the “ TSXV”). The Company may pay finder’s fees in

connection with the Offering to qualifying arm’s length finders, in accordance with the policies of the

TSXV.

The net proceeds raised from the Offering has been used to fund ongoing exploration and development

expenditures at the Company’s projects located in Nevada, USA, and will be used for general working

capital.

All shares issued will be subject to resale restrictions for a period of 4 months and a day from their date of

issuance.

About Metalero Mining Corp.

Metalero Mining Corp. is a Canadian -based junior exploration company and part of the Metals Group of

companies with offices in Vancouver and Edmonton. Metalero is undergoing a restructuring which includes

a new project focus and management change making its drill-ready gold assets in Nevada available for sale

or option.

On behalf of the Board of Directors

“Rob L’Heureux”

Rob L’Heureux, Chief Executive Officer and President

Email: [email protected]

Telephone: +1.780.437.6624

www.metalsgroup.com

Metalero is part of the Metals Group of Companies, managed by exploration

professionals who stand for technical excellence, robust project selection and

strong corporate governance, with a proven ability to identify and capitalize

on investment opportunities and deliver shareholder returns.

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This news release may contain certain “forward looking statements”. Forward -looking statements involve known and unknown

risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company

to be materially different from any future results, performance or achievements expressed or implied by the forward -looking

statements. Any forward -looking statement speaks only as of the date of t his news release and, except as may be required by

applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a

result of new information, future events or results or otherwise.

NEITHER 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.