Canadian Metals Makes New High-Grade Gold Discovery Samples Grading up to 455.0 g/t Au at Goldstrike, NB, Canada

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Canadian Metals Inc. CSE: CME

Canadian Metals Makes New High-Grade

Gold Discovery Samples Grading up to 455.0

g/t Au at Goldstrike, NB, Canada*

Montréal, March 9, 2022 - Canadian Metals Inc. (CSE: CME) (“CME”) is pleased to report

final assays from its 2021 exploration campaign with the release of the highest gold grade

samples reported to date by the Company with selected grab samples* of 455.0 g/t Au, 85.6 g/t

Au 76.9 g/t Au, 63.6 g/t Au, 36.9 g/t Au, 15.4 g/t Au, 14.8 g/t Au at Goldstrike Property from

the new LG Discovery Zone.

OTHER HIGHLIGHTS:

 The LG Discovery Zone is open in all directions. The high-grade samples reported today

are part of 42 assay results received from the laboratory of which 30 samples reported

more than 1 g/t Au.

 The LG Discovery Zone is located between the Clarinda and Arleau Zone (see Figure

1) and are all contained within the Goldstrike Gold Trend (GGT).

 The Goldstrike property includes two other historic zones: Clarinda and Arleau Zones

with gold results. Clarinda with 15.8 g/t Au from outcrop, (Slam 1997, from 250 rocks

samples collected, approximately 75% of them returned gold values ranging between

0.25 g/t Au and 5.11 g/t Au) and Arleau (historic sample prospection gave assays up to

27 g/t Au, 19 g/t Au, 10.46 g/t Au and trench give assays up to 2.40 g/t Au from outcrop

from silicified quartz stockwork in rhyolite) (See Figure 1)

Stephane Leblanc, President and CEO of Canadian Metals comments: " It is amazing to see that

every trench excavated along the Goldstrike Gold Trend (GGT) has discovered significant gold

mineralization. The discoveries of these high -grade samples at surface is indicative of a large

epithermal gold system.”

“The recent trenching program in 2021 highlighted many prospective areas remaining untested

along the main fertile contact between the altered rhyolite and the sediment units. We are

thrilled to continue the stripping operations on the Goldstrike Gold Trend (GGT)” adds

Stephane Leblanc.

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THE LG DISCOVERY ZONE

The LG Discovery Zone is located 800 meters NE of the Clarinda Zone and 2450

meters SW of the Arleau Zone where high-grade gold samples were collected and assayed

during the 2020 exploration and trenching program . Historic b edrock samples grading up

to 2.40 g/t Au at Clarinda have been observed in brecciated quartz veins at the contact between

the sediments and the altered rhyolite. The contact sediment/rhyolite is hosting most of the

high-grade gold samples collected along the Goldstrike Gold Trend (GGT) so far. Also, Silver-

Antimony and bismuth mineralization were encountered in the trench es. When added to the

geological model, they will be used as high-grade gold pathfinders.

Figure 1. Goldstrike Property and LG Discovery Zone

Table 1 : High-Grade selected grab samples (>5.0 g/t Au are high- lighted) at LG

Discovery Zone*

Sample Id Easting Northing Au g/t

2952095 713010 5282391 8,45

2952096 713010 5282393 2,65

2952097 713011 5282395 1,71

2952098 713010 5282397 5,35

2952099 713009 5282399 14,8

2952100 713011 5282401 0,92

2952101 713010 5282405 2,02

2952102 713011 5282403 455

2952103 713011 5282405 63,6

3

2952104 713010 5282407 7,1

2952105 713010 5282408 36,9

2952106 713011 5282409 76,9

2952107 713010 5282411 85,6

2952108 712980 5282394 6,1

2952109 712981 5282394 8

2952110 712980 5282395 15,4

2952111 712980 5282396 7,5

2952112 712979 5282398 3,75

2952113 712981 5282399 7,8

2952114 712980 5282398 0,061

2952115 712982 5282401 0,268

2952116 712981 5282402 0,493

2952117 712981 5282403 0,72

2952118 712980 5282404 2,1

2952119 712981 5282406 2,28

2952120 712979 5282407 0,029

2952121 712980 5282409 0,17

2952122 712999 5282402 1,03

2952123 712997 5282411 1,96

2952124 712995 5282411 0,781

2952125 712995 5282409 0,13

2952126 712993 5282409 0,065

2952127 712993 5282411 4,92

2952128 712991 5282411 2,17

2952129 712989 5282411 7

2952130 712987 5282411 1,87

2952131 712985 5282413 1,27

2952132 712981 5282412 4,6

2952133 712982 5282413 1,66

2952134 712981 5282415 0,056

2952135 712980 5282416 1,79

2952136 712981 5282418 0,073

* Selected rock grab samples are selective by nature and may not represent the true grade or

style of mineralization across the property

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CURRENT ACTIVITIES 2022 AND PROGRAM

These impressive new results together with data and interpretation from initial ground IP and

aerial MAG-TDEM survey (close to completion) will lead to the drilling target definition for

the first ever 2022/2023 drilling program along the Goldstrike Gold Trend (GGT). The first

step is to proceed with a major stripping area on the GGT where the main objective will be to

better define and locate the fertile contact between the sediments and rhyolite along the GGT.

Also, the district -scale Airborne MAG-TDEM survey (1,352l -km) of the Goldstrike Gold

Project is almost finalized and will help define the geophysical signature of gold-bearing

rhyolite.

Stephane Leblanc, President and CEO of Canadian Metals said: "Less than one year ago, CME

consolidated the Goldstrike property as an emerging gold district . By far, 2021 was our most

ambitious and successful year in terms of exploration and discoveries. Building on this

program, I believe 2022 will be an equally fruitful year.”

GOLDSTRIKE GOLD TREND (GGT)

The GGT is represented as a altered and brecciated rhyolite unit hosting significant gold

showings and occurrences followed by trenching over a strike length of about 3.0 km. The

favourable unit (rhyolite) is similar and parallel to the structures hosting the Clarinda and Arleau

Zones.

The gold bearing quartz veins are mostly perpendicular to the major trend and contain the

gold mineralization. The LG Discovery Zone and the surrounding area have never been drilled

before.

GOLDSTRIKE PROPERTY

The Goldstrike property which includes three (3) zones named Clarinda, Arleau and LG

Discovery, is covering more than 6580 hectares. The project is located about 40 km NW of

Bathurst with full road access and existing road crosscuttings the property. CME is currently

focusing its field work on the LG Discovery Zone.

The new discovery on the Goldstrike property is named LG Discovery Zone, to honour Tim

Lavoie and Pier-Luc Guitar for their initial discovery prior to the land consolidation by CME.

Quality Assurance

Grab sample positions were recorded with a GPS. Quality assurance procedures have been

implemented to ensure best practices in sampling and analysis of the grab samples. The samples

were delivered in secure tagged bags to the AGAT laboratory in Mississauga, Ontario for

analysis.

George Yordanov, P.Geo., MSc., Vice President Exploration of CME, Qualified Persons as

defined by NI 43- 101 standards of disclosure for mineral projects, has supervised the sampling

campaign, prepared, and approved the technical content of this release.