Mistango River Resources Inc. announced that it has entered into an amendment agreement with Metal Energy Corp. wherein Mistango and Metal Energy agreed to amend a mining property call option agreement dated October 28, 2022 (the Call Option Agreement). The Call Option Agreement grants Metal Energy the option to re-acquire a 15% interest (except the NSRs, as defined below) (the "Interest") in 19 mining claims in the Province of Manitoba (the "Manibridge Project").

Pursuant to the Amending Agreement, the outside date in which Metal Energy may exercise the call option to acquire the Interest from Mistango shall be extended from April 30, 2024 to April 30, 2026. As consideration for the extension, Metal Energy shall grant Mistango a total of 1,000,000 common shares in the capital of Metal Energy ("Common Shares"), at a deemed price of $0.02 per Common Share, for gross total consideration value of $20,000. Pursuant to the amended Call Option Agreement, Metal Energy shall, subject to prior approval of the TSX Venture Exchange (the "Exchange"), have the right to re-acquire the Interest from Mistango at any time prior to April 30, 2026 (the "Call Option").

The purchase price payable by Metal Energy to Mistango for the Interest on the Closing Date is $2,250,000, which may be paid, at the sole option of Metal Energy, in cash or in common shares of Metal Energy ("Metal Energy Shares"). The Amending Agreement, the issuance of the Common Shares to Mistango thereto, the exercise of the Call Option and the completion of the transfer of Interest from Mistango to Metal Energy shall be subject to the prior approval of the Exchange. There is no assurance that Exchange approval will be obtained.

The Interest in the Manibridge Project is subject to (i) a 2% net smelter royalty held by Glencore Canada Corporation and (ii) a 1% net smelter royalty on claims P1271F and P1262F and a 2% net smelter royalty on the other 17 claims of the Manibridge Project held by CanAlaska Uranium Limited (the "NSRs").