Canadian Metals Expands

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Canadian Metals Inc. CSE: CME

Canadian Metals Expands Goldstrike, NB,

Project and Announces Private Placement

Montréal, May 3, 2022 - Canadian Metals Inc. (CSE: CME) (“CME” or the “Corporation”)

is pleased to announce that it has acquired block 8874 adjoining the new LG discovery at its

Gold Strike P roject pursuant to an arm’s length property acquisition agreement (the

“Agreement”).

Pursuant to the Agreement, the Corporation paid $35,000 in cash and issued 500,000 common

shares (each a “Share”) of the Corporation. The s hares issued pursuant to the A greement will

be subject to a four -month hold period ending September 3, 2022 . The claims is subject to a

2% net smelter returns royalty of which the Co rporation has the right to repurchase 1% for

$1,000,000.

PRIVATE PLACEMENT

CME also announces that it is arranging a private placement of: (i) units (each, a " Unit") at a

price of $0.10 per Unit; and (ii) flow-through Shares (each, a "FT Share") within the meaning

of subsection 66(15) of the Income Tax Act (Canada) at a price of $0. 13 per FT Share , for

aggregate gross proceeds of up to $500,000 (the "Offering").

Each Unit shall be comprised of one Share and one-half (1/2) of a transferable Share purchase

warrant (each whole, a "Warrant"), entitling the holder thereof to acquire one additional Share

at a price of $0.20 for a period of two (2) years from their issuance closing date (the "Closing

Date") of the Offering.

The net p roceeds from the issuance of the Units will be used for general working capital

purposes. The gross proceeds from the issuance of the FT Shares will be used for Canadian

exploration expenses and will qualify as "flow -through mining expenditures", as defined in

subsection 127(9) of the Income Tax Act (Canada) and under section 359.1 of the Taxation

Act (Quebec) (the "Qualifying Expenditures"), which will be incurred on or before December

31, 2023 and renounced to the subscribers with an effective date no later than December 31,

2022 in an aggregate amount not less than the gross proceeds raised from the issue of the FT

Shares.

The Offering is anticipated to close on or about May 20, 2022, or such later date as the

Corporation may determine. The closing is subject to certain conditions including, but not

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limited to, the receipt of all necessary regulatory and other approvals, including the approval of

the Canadian Securities Exchange ("CSE"). All securities issued pursuant to the Offering will

be subject to a statutory hold period of four months from the date of issuance in accordance

with applicable securities legislation.

ABOUT CANADIAN METALS INC.

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

through the develop ment of large -scale mineral deposits in specific comm odities and safe

jurisdictions.

For more information, please contact:

Stéphane Leblanc President and CEO

Website: www.canadianmetalsinc.com

Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequa cy

or accuracy of this release.

Cautionary and Forward-Looking Statements

The statements in this news release that are not historical facts are "forward -looking

statements". Rea ders 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.