Metal Energy Planning 2026 Drilling on Its NIV Project, Toodoggone District, North-Central British Columbia

Rhea-AI Summary

Metal Energy (OTCQB: MEEEF) plans an initial drilling program at its fully permitted NIV copper-gold-molybdenum project in the Toodoggone District, BC, targeting multiple deposit-scale areas along a 5 km anomalous trend.

The June 2026 program is planned for 4,000–8,000 metres of drilling. The company reports approximately $10 million cash and notes Centerra and Teck each hold 9.9% of shares.

Positive

• Funded: approximately $10 million cash for 2026
• Major backing: Centerra and Teck each own 9.9% of shares
• Drill program: planned 4,000–8,000 metres beginning June 2026
• Project scale: 12,500 hectares with a 5 km coincident anomaly trend

Negative

• No prior drilling: NIV and West NIV have not been drill-tested previously
• Prospectivity unproven: target potential based on geochemical/geophysical anomalies only

Highlights:

• NIV's initial drill program scheduled to begin in June.
• First phase between 4,000 and 8,000 metres of drilling.
• Multiple deposit-scale target areas outlined.
• Fully funded for 2026 with approximately $10 million cash.
• Centerra Gold and Teck Resources each own 9.9% of Metal Energy.

Toronto, Ontario--(Newsfile Corp. - February 26, 2026) - Metal Energy Corp. (TSXV: MERG) (OTCQB: MEEEF) (the "Company" or "Metal Energy") is pleased to provide the following update on its 2026 exploration program at its fully permitted NIV copper-gold-molybdenum project ("NIV" or the "Project") located in the Toodoggone District, British Columbia.

NIV Background

NIV covers 12,500 hectares of highly prospective ground, across two claim blocks, NIV and West NIV, within the prolific Toodoggone District of north-central British Columbia, approximately 32km south of Centerra Gold's Kemess mine complex. The Project is largely underlain by the same Triassic-Jurassic geology that hosts nearby copper-gold porphyry deposits, including those held by Centerra, by Amarc Resources, and by TDG Gold. The NIV property displays strongly anomalous soil geochemistry (>100 ppm copper, >75 ppb gold, >4 ppm molybdenum) over broad areas along a five kilometre long trend that are coincident with similarly strongly anomalous geophysical responses (IP (Induced Polarization) chargeability and resistivity, airborne MT (Magnetotellurics) which stretch to depths of several hundreds of metres or more. Such coincident anomalies are suggestive of the potential for a large scale porphyry copper-gold system at depth, with scale to accommodate multiple porphyry centers. Neither the NIV nor West NIV property has been drill-tested previously.

Initial Drill Program Set for June

The initial drill program in planning for the NIV property will be designed to test multiple porphyry Cu-Au-Mo targets along the length of the NIV property's 5 km long trend of coincident geochemical and geophysical anomalies. Each target will be tested by multiple drill holes. The initial drilling will likely consist of a total of between 4,000 and 8,000 metres.

CLICK HERE to View NIV Target Areas

Final drill site selection will be informed by ongoing compilation and interpretation of all geological, geochemical and geophysical data. Geological ground-truthing and possible additional geophysics (ground AMT surveys; completion of the West NIV airborne geophysical survey) may be conducted to further refine drill sites concurrent with initiation of the drill program.

Metal Energy intends to mobilize drill crews in June 2026, with contractors engaged and logistical planning well underway.

Fully Capitalized and Backed by Majors

The Company enters 2026 fully capitalized, with approximately $10 million in cash, and with the backing of two major mining companies, Centerra Gold ("Centerra") and Teck Resources ("Teck") (refer to December 17, 2025 news release). Centerra and Teck each hold 9.9% of Metal Energy's issued and outstanding common shares, and represent the technical and commercial validation of NIV's prospectivity--these investments were made without a single drill hole having been cored at NIV.

About Metal Energy

Metal Energy Corp. (TSXV: MERG) (OTCQB: MEEEF) is a critical metals exploration company focused on copper and gold assets in Canada.

CLICK HERE to Watch Technical Webinar on NIV

CLICK HERE to View NIV Technical Presentation

Metal Energy's portfolio now includes three high-potential projects:

• NIV Project (Cu-Au-Mo) - Toodoggone District, British Columbia
• Highland Valley Project (Cu-Mo-Ag-Au-Re) - British Columbia
• Manibridge Project (Ni-Cu-Co-PGE) - Manitoba
• CLICK HERE to Visit Projects Page

QP Statement

The technical information in this release has been reviewed and approved by Roy Greig, Ph.D., P.Geo., an independent Qualified Person as defined by National Instrument 43-101.

For further information, please contact us via email or through our website (see below), or visit us in Toronto at the Metals Investor Forum prior to PDAC:

Metal Energy Corp.
MERG on the TSXV
info@oregroup.ca 
www.metalenergy.ca

Reader Advisory

Certain information set forth in this news release contains forward-looking statements or information ("forward-looking statements"), including details about the business of Metal Energy. All statements in this news release, other than statements of historical fact, that address events or developments that Metal Energy expects to occur are forward-looking statements, including, but not limited to, final TSXV approval, the use of proceeds from the Offering, and future exploration plans and timelines. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Metal Energy's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, operational risks, competition from other industry participants, and stock market volatility. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, such statements are based on factors and assumptions concerning future events which may prove to be inaccurate.

Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. Risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in Metal Energy's public disclosure documents available at www.sedarplus.ca. Furthermore, the forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Metal Energy does not undertake any obligation to publicly update or revise any of the forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.

Neither the TSX Venture Exchange Inc. 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/285436

FAQ

When will Metal Energy (MEEEF) start drilling at the NIV project and how much will be drilled?

Drilling is planned to begin in June 2026 with between 4,000 and 8,000 metres targeted. According to the company, multiple targets along a 5 km anomalous trend will be tested with several holes per target.

How is Metal Energy (MEEEF) funding the 2026 NIV drill program?

The company says it is fully funded for 2026 with approximately $10 million cash. According to the company, this cash position supports mobilization, contractors, and initial drilling logistics.

Who are the strategic backers of Metal Energy (MEEEF) and what are their stakes?

Centerra and Teck each hold 9.9% of Metal Energy's common shares. According to the company, these investments provide technical and commercial validation of NIV's prospectivity.

What makes the NIV project prospective for porphyry copper-gold-molybdenum systems?

NIV shows broad soil anomalies (>100 ppm Cu, >75 ppb Au, >4 ppm Mo) coincident with IP and airborne MT geophysics. According to the company, these coincident responses suggest potential for large porphyry systems at depth.

Has the NIV property been drill-tested before Metal Energy (MEEEF) plans drilling?

No, neither the NIV nor West NIV properties have been previously drill-tested. According to the company, initial drilling will provide the first direct subsurface test of the targets.