Voyager Metals Announces Filing of Initial Project Description for the Mont Sorcier Project to Commence Federal Permitting Process

TORONTO, May 29, 2023 - Voyager Metals Inc. (TSXV:VONE), "Voyager" or the "Company") is pleased to announce that it has filed the initial project description for the Mont Sorcier Mine Project (the Project) with the Impact Assessment Agency of Canada (IAAC).

At the federal level, the filing of the initial project description marks the beginning of the 180-day "planning phase" during which IAAC will invite members of the public and Indigenous peoples to share their comments and contribute to the planning of the Project. The result will be a set of guidelines for Voyager to follow when preparing its Environmental Impact Assessment report for the Project.

In addition, the Project, located mainly in the Cree territory of Eeyou Istchee James Bay about twenty kilometers east of Chibougamau, will eventually be the subject of a review under Title II of Quebec's Environment Quality Act (EQA) under the James Bay and Northern Quebec Agreement (JBNQA). Consequently, the Project is already designed in accordance with the framework prescribed by Chapter 22 of the JBNQA and its guiding principles; and is also in line with the mining policy of the Cree Nation government.^[1]

Cliff Hale-Sanders, President and CEO, said: " We are very pleased to take this important step to move the Mont Sorcier project forward, which is part of Canada's rigorous regulatory framework as we work to develop the potential of the Mont Sorcier project. We look forward to continuing our collaboration with regional stakeholders and government agencies throughout the Project evaluation process.

The future exploitation of the Mont Sorcier deposit represents part of a global shift for the global steel industry for increased supply of high-grade iron concentrates due to the numerous benefits of this material in the steel making industry. "The Mont Sorcier project is being designed to produce high-grade magnetite-type iron concentrate for steelmakers," concludes Hubert Vallée, Vice-President, Project Development at Voyager. "When used in blast furnaces to produce steel, high-grade iron concentrates help reduce greenhouse gas (GHG) emissions by reducing the amount of coal and energy required for the steel production processes whose production currently generates nearly 7% of global GHG emissions according to estimates by the International Energy Agency (IEA)".

About Voyager Metals Inc.

Voyager Metals Inc. is a mineral exploration company headquartered in Toronto, Canada. The Company is focused on advancing its Mont Sorcier, Vanadium-rich, Magnetite Iron Ore Project, located just outside of Chibougamau, Quebec.

Documentation on the Mont Sorcier project is available at the following address: www.montsorcierproject.com

¹ https://www.cngov.ca/wp-content/uploads/2018/03/politique_miniere_de_la_nation_crie.pdf

ON BEHALF OF THE BOARD OF DIRECTORS OF Voyager Metals Inc.

Cliff Hale-Sanders, President and CEO Tel: +1-416-819-8558		Nicholas Campbell, CFA Director, Corporate Development Tel: +1-905-630-0148
csanders@voyagermetals.com		ncampbell@voyagermetals.com

For information:
info@voyagermetals.com
www.voyagermetals.com

Cautionary Note Regarding Forward-Looking Statements:

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.

This news release contains "forward looking statements" or "forward-looking information" (collectively "Forward-Looking Statements") that involve a number of risks and uncertainties. Forward Looking Statements are statements that are not historical facts and are generally, but not always, identified by the use of forward looking terminology such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "guidance", "outlook", "intends", "anticipates", "believes", or variations of such words and phrases or that state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms or similar expressions. The Forward-Looking Statements in this press release relate to, among other things the anticipated award of permits and decision to move to construction and ultimate production. Forward Looking Statements are based on certain key assumptions and the opinions and estimates of management and Qualified Persons (in the case of technical and scientific information), as of the date such statements are made, and they involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any other future results, performance or achievements expressed or implied by the Forward Looking Statements. In addition to factors already discussed in this news release, such factors include, among others: there being no assurance that the Company will upgrade a significant portion of the North Zone to the Measured and Indicated categories to support the pending feasibility study; as well as those risk factors discussed or referred to in the Company's MD&A under the heading "Risk Factors" and under the heading "Forward-looking statements and use of estimates" which include further details on material assumptions used to develop such Forward Looking Statements and material risk factors that could cause actual results to differ materially from Forward Looking Statements, and other documents filed from time to time with the securities regulatory authorities in all provinces and territories of Canada and available on SEDAR at www.sedar.com.

The reader has been cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in Forward Looking Statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that Forward Looking Statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company's Forward Looking Statements reflect current expectations regarding future events and speak only as of the date hereof. Other than as it may be required by law, the Company undertakes no obligation to update Forward Looking Statements if circumstances or management's estimates or opinions should change. Accordingly, readers are cautioned not to place undue reliance on Forward Looking Statements.

SOURCE: Voyager Metals Inc.