Nine Mile Metals Announces XRF Results up to 18.38% Combined (Pb-Zn) on Holes CL22-08 & CL22-11 on Initial California Lake VMS Drill Program

VANCOUVER, British Columbia, Dec. 06, 2022 (GLOBE NEWSWIRE) -- NINE MILE METALS LTD. (CSE: NINE, OTCQB: VMSXF, FSE: KQ9) (the "Company" or "Nine Mile") is pleased to announce the XRF results for VMS target Holes CL2208 and CL2211 at its initial Phase 1 drill program at its California Lake VMS Project in the world-famous Bathurst Mining Camp, New Brunswick ("BMC").

Highlights:

• VMS Target Hole CL2211 was a step out hole collared approximately 20 meters north of discovery hole CL2206 and drilled to a depth of 80 meters intersecting (4) zones of massive VMS mineralization between 51.10 and 62.00 meters (10.90m.)
  

• VMS Target Hole CL2208 was collared near hole CL2206 and drilled at an azimuth of 312 degrees to a depth of 89 meters intersecting visible massive VMS mineralization between 67.33 and 70.50 meters (3.17m).
  

• VMS mineralization in both drill holes was again dominated by Zn mineralization, with individual sample sections up to 15.12 % Zn.
• Pb mineralization was much more discreet.
• Both drill holes demonstrate that the mineralized zone is open in both directions along strike and depth.
• Samples of the VMS mineralization and adjacent rock have been shipped to the ALS Global Labs ("ALS") for Certification.
• Note: Due to time constraints between the California Lake drill program and the initiation of the Nine Mile Brook VMS drill program, XRF analysis was only conducted on the zones of visible VMS mineralization. The complete mineralized zone has been sent to ALS for analysis and we will announce those complete results once received. All holes have been logged, photographed, measured, and cut. Holes 8-9-10-11-12-13 are currently in the XRF process and we look forward to reporting additional results, including summarized full widths.
  

It is important to note that the Ag and Au values will be reported upon receipt of the assay results from ALS since XRF analysis for these elements is unreliable. The California Lake Group has historically been a prolific zone for Silver and is typically associated with Pb - Zn sulfides.

Patrick J Cruickshank, MBA, CEO & Director stated, "We are pleased to report these good VMS intersections of mineralization at our initial California Lake VMS Drill Program. A much thicker width is very encouraging as it lays the foundation to our stage 2 program analysis for 2023 along the entire 1.5 kms anomaly. With such high combined Pb ? Zn results, I am very anxious to see the Certified Results including the Ag & Au returns. With such high grades for Pb-Zn we should see a positive reflection in the certified (Ag) Silver assays. Once we receive the assays of the sediments between the VMS finger zones in these, we will be able to report the full widths of these holes. We look forward to reporting our next set of results shortly."

Drill Holes 8 and 11 continue to build on the visible Cu, Pb, Zn +/- Ag, Au mineralization intersected in discovery hole CL2206. The target zone is structural, well foliated, and where well mineralized, is approximately 10 meters in width and includes multiple sections of VMS mineralization. The host rocks are primarily sediments with local bands of volcanics. Mineralization is typical of the BMC with sections consisting of 95%+ sulphides including pyrite, sphalerite (Zn) and galena (Pb), the latter two visible in drill core as disseminations and bands respectively.

"Drill Holes CL2208 and CL2211 demonstrate the potential along the 1.5-kilometer geophysical trend defined by EarthEx Geophysical Solutions Inc. from the reprocessed regional MegaTEM data. The intersections to date are robust and typical of the Bathurst Mining Camp. The team is looking forward to receiving the certified results from ALS Global Labs including the Au and Ag assays," stated Gary Lohman, B.Sc., P. Geo., Director.

The Pb, Zn mineralization suggests that initial deposition occurred along the flanks of a VMS system where Pb / Zn is typically dominant. Subsequent shearing and structural activity have dislocated the mineralization however the dense sulphides remain intact having generally hard contacts with the surrounding sediments. Individual mineralized widths within the 10-meter section can be greater than 3 meters. Pyrite mineralization is also present within the sediments.

The disclosure of technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 ? Standards of Disclosure for Mineral Projects ("NI 43-101") and reviewed and approved by Gary Lohman, B.Sc., P. Geo., Director who acts as the Company's Qualified Person, and is not independent of the Company.

About Nine Mile Metals Ltd.:

Nine Mile Metals Ltd. is a Canadian public mineral exploration company focused on VMS (Cu, Pb, Zn, Ag and Au) exploration in the world-famous Bathurst Mining Camp, New Brunswick, Canada. The Company's primary business objective is to explore its three VMS Projects: Nine Mile Brook VMS Project; California Lake VMS Project; and the Canoe Landing Lake (East ? West) VMS Project. The Company is focused on exploration of Minerals for Technology (MFT), positioning for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge with Gold.

ON BEHALF OF NINE MILE METALS LTD.

"Patrick J. Cruickshank, MBA"
CEO and Director
T: 506-804-6117
E: [email protected]

Forward-Looking Information:

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Nine Mile. Forward-looking information is based on certain key expectations and assumptions made by the management of Nine Mile. In some cases, you can identify forward-looking statements by the use of words such as "will," "may," "would," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "could" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. . Forward-looking statements in this press release include that (a) the Ag and Au values will be reported upon receipt of the assay results from ALS, (b) Drill Holes CL2208 and CL2211 demonstrate the potential along the 1.5-kilometer geophysical trend, (c) Drill Holes 8 and 11 continue to build on the visible Cu, Pb, Zn +/- Ag, Au mineralization intersected in discovery hole CL2206, (d) we look forward to reporting additional results, including summarized full widths, and (e) with such high grades for Pb-Zn we should see a positive reflection in the certified (Ag) Silver assays. Although Nine Mile believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Nine Mile can give no assurance that they will prove to be correct.

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9359dc06-9e81-4d33-88ea-bf1508011c95