T2 Metals Reports First Two of Nine Holes from Second Drill Program at the Sherridon VMS Project, Manitoba

Includes High Grade Polymetallic Intersection of 3.56 m grading 2.5% Cu, 5.3% Zn, 1.0 g/t Au, 21.8 g/t Ag

Vancouver, December 18, 2024 - T2 Metals Corp. (TSXV: TWO) (OTCQB: TWOSF) (WKN: A2DR6E) ("T2" or the "Company") is pleased to announce the first set of assay results from the Q4 2024 drill program at the Sherridon Volcanogenic Massive Sulphide ("VMS") Project (the "Project") in Manitoba. Sherridon is a well-known VMS camp in the Flin Flon - Snow Lake Greenstone Belt, having both a significant mining history and five near surface copper-rich historical mineral resources (see Table 3, 4 and 5 and Press Release dated November 1 2024). The second hole of the 9 hole program (SHN24014) intersected high grade copper over a significant interval to the southeast of the Lost Lake prospect.

Planning is now underway for the Q1 2025 drilling program, which shall begin when winter conditions allow, and for which the Company is fully funded.

Drilling Highlights Include:

Lost Lake

SHN24014
6.49 m grading 1.82% Cu, 3.34% Zn, 0.74 g/t Au, 16.0 g/t Ag from 97.15 m, including
3.56 m grading 2.50% Cu, 5.31% Zn, 1.00 g/t Au, 21.8 g/t Ag from 97.15 m;

SHN24013
Hole did not intersect target horizon;

Both SHN24013 and SNH24014 were drilled southeast of the Lost Lake Historical Mineral Resource where 2023 drilling encountered high grade gold and copper as reported in a Press Release dated March 1 2024). SHN24014 was drilled approximately 60m down plunge from SHN23005 while SHN24013 targeted an interpreted fold hinge zone which was not intersected.

This 2024 drill program is the second completed by T2 Metals at Sherridon, designed to test and extend known mineralization and/or VTEM anomalies in geologically/lithogeochemically prospective locations. Holes were targeted to intersect mineralization along strike from the Lost Lake, Cold Lake, and Bob Historical Mineral Resources (see Table 3, 4 and 5).

This first batch of 2024 results are from SHN24013 with a total depth of 314m; and SHN24014 with a total depth of 266m, locations for which are provided in Table 1 and on Figure 1. The most significant sulphide-mineralized drill intersections of copper ("Cu"), zinc ("Zn"), gold ("Au"), and silver ("Ag") are provided in Table 2. True thickness of the SHN24013 intersection is unknown but is interpreted to exceed 80% of drilled thickness. Cross sections and long sections of mineralized bodies will be shared when additional drilling data is available.

Mark Saxon, CEO of T2 Metals Corp. said "First results from the 2024 Sherridon drill program are showing high grade copper at shallow depths. In these early holes, we targeted down plunge mineralization well away from historical mineral resources, and are now confident in a shallow plunging structural model. Historic mining at Sherridon was known for its high copper grades, and we are excited to be testing multiple new discovery opportunities. We will see additional 2024 results in early 2025, as we progress toward a Q1 2025 drilling program."

Figure 1: 2024 Drill Program Locations and Historical Mineral Resource Locations, Sherridon Project.

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Six holes, plus one re-entry for a total of 1,584 m were completed at Cold Lake and Lost Lake in the Q4 2024 program, testing a total strike length exceeding 1.4km northwest and southeast of the Cold Lake and Lost Lake prospects, respectively. These two historical mineral resources lie along a VMS horizon that is both parallel to and typically less than 850m from the VMS horizon that hosts the historic Sherritt Gordon East and West Mines, where 7.74 million tonnes were mined at an average grade of 2.46% Cu, 2.84% Zn, 0.6 g/t Au and 33 g/t Ag (Goetz & Froese, 1981) between 1931 and 1951.

The Lost Lake and Cold Lake zones comprise a continuously mineralized horizon over a known strike length of approximately 1.8km. The Lost and Cold prospects were the subject of investment by Hudbay Minerals Inc. from 2009 - 2012 that included metallurgical drilling with a view to open pit mining and subsequent processing in Flin Flon.

Assay results confirmed the visual identifications of semi and massive sulphide in core logging. The results delineate shallow-dipping and plunging massive sulphide lenses and extend drilling results by the previous explorers. Added information from this drill program, plus camp-scale compilation work further demonstrates the strong regional flat southeasterly plunge controls and robust footwall alteration vectoring features.

An additional two holes for a total of 597m were completed at Bob Lake. Laboratory results for these, and others from Lost and Cold Lake will be reported as data becomes available.

Numerous geophysical targets and key VMS-associated structural controls provide additional high-value targets for planned Q1 2025 drill programs. Preparation is underway for drilling at Sherridon as soon as winter conditions allow.

Table 1: T2 Metals Drill Coordinates, 2024 (Coordinates given in UTM Zone 14N, NAD83).

Table 2: T2 Metals Drill Assay Results, 2024.

Table 3: Aggregate Historical Mineral Resource Estimates for Jungle, Bob, Cold and Lost Prospects (Bloom et al., 2010)

Notes:

1. The Historical Resource Estimates are based upon Bloom, L., Healy, T., Giroux, G., Halo Resources Ltd. 2010, Sherridon VMS Property, Technical Report NI43-101 - November 22, 2010, which is available at www.sedarplus.ca.
2. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
3. Mineral resources are estimated at a net smelter return (NSR) cut-off of US$20 per tonne and US$45 per tonne for open pit and underground respectively.
4. Metal prices used are US$3.00/lb copper, US$1.05/lb zinc, US$1,000/oz gold and US$15.00/oz silver.
5. Metallurgical recovery factors assumed were 92% for copper, 83% for zinc, 65% for gold and 57% for silver.
6. The Mineral Resources are reported at a cut-off grade to reflect reasonable prospects for economic extraction, which were evaluated by designing a series of conceptual pit shells using the Lerchs-Grossman optimizing algorithm.
7. Common values for operating costs and smelter terms were assumed.
   
   

Table 4: Historical Mineral Resource Estimate for Park Prospect (Ostry et al., 1998)

Notes:

1. The Historical Resource Estimates are based upon Ostry, G., Athayde, P. and Trembath, G.D. (1998): Mineral deposits and occurrences in the Sherridon area, NTS 63N/3; Manitoba Energy and Mines, Mineral Deposit Series Report No. 17, 157 pp., which is available at www.manitoba.ca/.
2. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
3. Details of the resource estimation assumptions are not provided, with Ostry et al. (1998) referencing internal documentation supplied by Hudbay Minerals Inc. at the time of writing.
   
   

Table 5: Historical Mineral Resource Estimate for Lost Prospect (near surface portion) reported by Hudbay Minerals in 2011 (Halo, 2011).

Notes:

1. CIM definitions were followed for the estimation of mineral resources. Includes drilling up to the end of 2010.
2. Mineral resources are estimated at a ZnEq cut-off of 4% (ZnEq% equals Zn% + Cu% x 2.771 + Au g/t 1.028 + Ag g/t x 0.015) and a minimum two metre core length.
3. Long term $US metal prices of $900/oz gold, $15.00/oz silver, $2.50/lb copper and $1.00/lb zinc were used for the estimation
4. Specific gravity measurements were taken on a portion of the samples, where actual measurements were not available average SG values were used.

The Technical Report released on November 1st 2024 was prepared in accordance with the Canadian Securities Administrators' National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). The author and qualified person (as defined in NI 43-101) for the Technical Report is Mr. Darrell Turcotte, who reviewed the technical content of the news release and approved its dissemination.

The Company is not treating the historical estimates as current given that a Qualified Person has not completed sufficient work to classify the historical estimates as current. The reader is cautioned that the Historical Mineral Resources should not relied upon and are included for context and to demonstrate progression of the Sherridon Project through prior discovery and resource growth. The historical estimates are not meant to be interpreted as current mineral resource or mineral reserve estimates as described in sections 1.2 and 1.3 of NI 43-101. The author of the Technical Report and the Company have relied on the sources cited for information on these deposits and has been unable to verify the information independently. While this information is considered reliable, it does not comply with the standards of NI 43-101 and should not be relied upon.

The Historical Mineral Resource provided in Table 3 for Lost (Halo, 2011) post-dates and supersedes that provided in Table 1 from Bloom et al. (2010). The Company is not aware of any more recent resource estimates or data that would supersede the Historical Mineral Resources, but it is recommended that the reader exercise caution and consult the original historical reports and related technical documentation for a more complete understanding of the prospect's geology, sampling, and estimation procedures. The Company will need to conduct further exploration, and there is no guarantee that the results obtained will reflect the historical estimates. In order to verify the Historical Mineral Resources to current mineral resource estimates, among other things, the Company will need to retain a qualified person to verify historical drilling and assaying methods and validate historical results, add any drilling and assaying or other pertinent geological information generated since the last estimation, and complete a resource estimate and a new technical report. Significant data compilation, drilling, sampling and data verification may be required by a qualified person before the Historical Mineral Resources can be classified as current resources. There can be no assurance that any of the historical mineral resources, in whole or in part, will ever become economically viable. In addition, mineral resources are not mineral reserves and do not have demonstrated economic viability. Even if classified as current mineral resources, there is no certainty as to whether further exploration will result in any inferred mineral resources being upgraded to an indicated or measured mineral resource category.

Bloom, L., Healy, T., Giroux, G., (2010): Sherridon VMS Property, NI43-101 Technical Report prepared for Halo Resources Ltd., November, 2010. 182p.

Ostry, G., Athayde, P. and Trembath, G.D. (1998): Mineral deposits and occurrences in the Sherridon area, NTS 63N/3; Manitoba Energy and Mines, Mineral Deposit Series Report No. 17, 157 pp.

Halo (2011): Halo Update For Sherridon VMS Property, Manitoba dated April 14, 2011 issued by Halo Resources Ltd, Toronto.

Sampling Procedures and Quality Assurance (QA) / Quality Control (QC)

The Company's QA/QC drill core sample protocol consists of collection of samples over a minimum 0.3 m interval to a maximum 1.5 m interval (depending on the lithology and style of mineralization) over the mineralized portions of the drillhole. The drill core sample is cut in half with a diamond saw, with half of the core placed in individual sealed polyurethane bags and the remaining half securely retained in the original core box for permanent storage. Drill core samples are shipped by transport truck in sealed woven plastic bags to Bureau Vertias Minerals Analytical Lab preparation and analytical facility in Vancouver, BC.

Gold was determined by Bureau Veritas method FA430, a lead fire-assay fusion of a 30 g pulverized sample with a atomic absorption spectroscopy (AAS) finish. Various metals including silver, gold, copper, lead and zinc were determined by inductively-coupled plasma atomic emission spectroscopy (ICP-AES) or inductively-coupled plasma mass spectroscopy (ICP-MS), following multi-acid digestion (Bureau Veritas method MA270). This method is considered an assay method with a precision of 5% for elements including copper, lead, zinc and silver.

The qualified person for the Company's projects, Mr. Mark Saxon, the Company's Chief Executive Officer, a Fellow of the Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists, has reviewed and approved the contents of this release.

About T2 Metals Corp (TSXV: TWO) (OTCQB: AGLAF) (WKN: A2DR6E)

T2 Metals Corp is an emerging copper and precious metal company enhancing shareholder value through exploration and discovery. T2 is focused on the Sherridon Project in Manitoba, the Lida and Copper Eagle Projects in Nevada, and the Cora Project in Arizona.

ON BEHALF OF THE BOARD,

Neither the 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.

Cautionary Note Regarding Forward-Looking Statements

Certain information set out in this news release constitutes forward-looking information. Forward looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe" and similar expressions. Forward-looking statements are based upon the opinions and expectations of management of the Company as at the effective date of such statements and, in certain cases, information provided or disseminated by third parties. Although the Company believes that the expectations reflected in forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. Readers are cautioned not to place undue reliance on forward-looking statements.

These forward-looking statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. Such risks include uncertainties relating to exploration activities. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, except as may be required by applicable securities laws.

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