Analyst Report Highlights Boab Metals’ Potential with Offtake Agreement,

SAN DIMAS DRILLING HIGHLIGHTS:

Select highlights from the Company’s 2024 exploration program includes the following high-grade silver and gold intercepts:

Perez Vein Highlights (true width):

• PE24_397: 10.03 g/t Au and 1,996 g/t Ag over 3.65 metres (“m”);

• PE24_343: 6.28 g/t Au and 1,001 g/t Ag over 2.30 m;

• PE23_328: 3.66 g/t Au and 485 g/t Ag over 3.14 m;

• PE24_346: 2.00 g/t Au and 309 g/t Ag over 5.06 m.

Sinaloa-Elia Vein System Highlights (true width):

• SIN24_120: 23.33 g/t Au and 1,045 g/t Ag over 1.31 m;

• SIN24_106: 6.61 g/t Au and 501 g/t Ag over 2.97 m;

• SIN24_109: 10.91 g/t Au and 796 g/t Ag over 1.69 m;

• SIN24_103: 8.31 g/t Au and 507 g/t Ag over 1.64 m.

Santa Teresa Vein Highlights (true width):

• ST24_067: 10.02 g/t Au and 359 g/t Ag over 3.41 m;

• ST24_051: 3.11 g/t Au and 166 g/t Ag over 5.86 m;

• ST24_065: 13.53 g/t Au and 211 g/t Ag over 1.69 m.

Jessica East Vein Highlights (true width):

SAN DIMAS EXPLORATION RESULTS

Exploration drilling at San Dimas intersected significant silver and gold mineralization in multiple veins. Results from four of the veins are highlighted here: Perez, Sinaloa-Elia, Santa Teresa and Jessica East (Figure 1).

Figure 1: San Dimas District Vein Occurrence Map and Highlighted Target Areas

To view an enhanced version of this graphic, please visit:
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Exploration drilling of the Perez vein extended silver and gold mineralization up-dip in the west-central portion of the vein and converted Inferred to Indicated resources refining vein width and grades. This process derisked mineralization that will be mined during 2025 and 2026. The Perez vein potential remains open to the east and to the west (Figure 2). Select drill hole assay grades and true width intervals of the Perez vein intersections are highlighted below:

• PE24_397: 10.03 g/t Au and 1,996 g/t Ag over 3.65 m;

• PE24_343: 6.28 g/t Au and 1,001 g/t Ag over 2.30 m;

• PE23_328: 3.66 g/t Au and 485 g/t Ag over 3.14 m;

• PE24_346: 2.00 g/t Au and 309 g/t Ag over 5.06 m.

At the historic Sinaloa-Elia vein system located in the western portion of the property, drilling intersected several intervals of silver and gold mineralization. Resource conversion drilling confirmed and further delineated mineralization below the Sinaloa vein with several intersections returning better than expected values. Results also reveal that the mineralization is open to the west for potential Mineral Resource expansion. Follow-up expansionary drilling below historic mine excavations at Elia confirmed the presence of down-dip extension potential with some results initially reported in June 2024 (Figure 3). Select drill hole assay grades and true width intervals of the Sinaloa-Elia vein system intersections are highlighted below:

• SIN24_120: 23.33 g/t Au and 1,045 g/t Ag over 1.31 m;

• SIN24_106: 6.61 g/t Au and 501 g/t Ag over 2.97 m;

• SIN24_109: 10.91 g/t Au and 796 g/t Ag over 1.69 m;

• SIN24_103: 8.31 g/t Au and 507 g/t Ag over 1.64 m;

• EL24_280: 2.52 g/t…