Nine Mile Metals Announces Stock Option Grant

Vancouver, British Columbia--(Newsfile Corp. - August 15, 2022) - NINE MILE METALS LTD. (CSE: NINE) (the "Company" or "Nine Mile") announces that it has granted 500,000 stock options to a consultant of the Company. The options will vest 50% immediately and 50% in three months and may be exercised at an exercise price of CAD $0.25 per common share, for a period of 2 years from the date of issuance or earlier in accordance with the Company's incentive stock option plan.

Following the grant of stock options, the Company now has a total of 4,650,000 stock options representing 8.8% of the outstanding common shares of the Company.

About Nine Mile Metals Ltd.:

Nine Mile Metals Ltd. is a Canadian public mineral exploration company focused on VMS (Cu, Pb, Zn, Ag and Au) exploration in the world-famous Bathurst Mining Camp, New Brunswick, Canada. The Company's primary business objective is to explore its three VMS Projects: Nine Mile Brook VMS Project; California Lake VMS Project; and the Canoe Landing Lake (East - West) VMS Project. The Company is focused on exploration of Minerals for Technology (MFT), positioning for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge with Gold.

ON BEHALF OF NINE MILE METALS LTD.

"Charles MaLette"
President, Director & Secretary
T: 604-428-5171
E: [email protected]

Forward-Looking Information:
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Nine Mile. Forward-looking information is based on certain key expectations and assumptions made by the management of Nine Mile. In some cases, you can identify forward-looking statements by the use of words such as "will," "may," "would," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "could" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Although Nine Mile believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Nine Mile can give no assurance that they will prove to be correct.

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/133932