New Age Metals Publishes Inaugural Sustainability Report for 2021-2022

Mr. Harry Barr, CEO and Chairman of NAM, commented:

"On behalf of the management and directors, I am pleased to update you on the key milestones completed to date in 2022 and the goals and objectives for New Age Metals (NAM) for the balance of the year.

From NAM's inception to this date, our primary focus before delving into any project has been to identify all key stakeholders, especially ones involved with the environmental and social prospects in the regions that our projects are located in. To this effect, we have not only spent a substantial amount in that direction but have and are directly engaged with the First Nations, custodians, and communities around all our properties. Our team at NAM have a firm belief that where the success of a project is deduced from its financial statements and economic prospects, the sustainability of that success lies solely in strong consideration of environmental, social, and governance (ESG) metrics of that said project, which further gives us the motivation, encouragement, and the "Social License to Operate".

The Company aims to ensure that we are actively communicating with investors and other stakeholders to the best of our abilities, and we want you to know that we are available to answer any questions or concerns."

NAM's ESG/Sustainability Report is now available under the ESG tab on our corporate website: https://newagemetals.com/esg-and-sustainability/.

Following are some summarized points:

• The report is based on frameworks outlined by both TCFD (Taskforce for Climate-related Financial Disclosures) and SASB (Sustainability Accounting Standards Board). This was done to make sure that the report aligns with important and industry-wide prevalent institutions' layout.

• NAM's Manitoba Lithium Project had 33.552 tonnes and River Valley PGM Project had 805.512 tonnes of CO2 emissions, for a total of 839.064 tonnes.

• NAM's Manitoba Lithium Project used 15,000 gallons and River Valley PGM Project used 720,357 gallons of fresh water, all of which was sourced from nearby sources.

• Since both the projects are in early exploration stage, there were no emissions (besides CO2) to report, as well as no waste and hazardous materials such as tailings.

• Community relations aspect of the report further highlights the existing and growing relationship with Temagami, Nipissing, and Sagkeeng First Nations, including the MoUs, archaeological, land use, and other surveys.

NAM knows well, the importance of these ESG reports and the visibility, transparency, and affirmation they provide to environmental, social, and governance issues arising from its operations, which is imperative across the industry. Following this inaugural report, NAM will include disbursement of such reports as an annual target and will make sure to involve all stakeholders and communities within them.

About NAM:

New Age Metals Inc. is a well financed mineral exploration and development company focused on the discovery, exploration, and development of green metal projects in North America. The Company has two divisions: a Platinum Group Metals division and a Lithium/Rare Element division. The Company is developing its 100% owned flagship multi-million-ounce River Valley (RV) Palladium Project near Sudbury, ON, one of the largest undeveloped primary palladium projects in North America. NAM operates primarily out of its field office located at 59 Burtch's Lane, Rockport, Ontario. The current market capital of NAM is C$14.44 million (as of 12th October 2022). https://newagemetals.com/

Forward Looking Statements

Certain information included in this discussion may constitute forward-looking statements. Forward-looking statements are based on current expectations and entail various risks and uncertainties. These risks and uncertainties could cause or contribute to actual results that are materially different than those expressed or implied. The Company disclaims any obligation or intention to update or revise any forward-looking statement, whether because of new information, future events, or otherwise.

Investors are invited to visit the New Age Metals website at www.newagemetals.com where they can review the company and its corporate activities. Any questions or comments can be directed to info@newagemetals.com or Harry Barr at Hbarr@newagemetals.com or Farid Mammadov at faridm@newagemetals.com or call 613 659 2773.

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On behalf of the Board of Directors

"Harry Barr"

Harry G. Barr

Chairman and CEO

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: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results and are based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. In addition, forward-looking statements include statements in which the Company uses words such as "continue", "efforts", "expect", "believe", "anticipate", "confident", "intend", "strategy", "plan", "will", "estimate", "project", "goal", "target", "prospects", "optimistic" or similar expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company's ability and continuation of efforts to timely and completely make available adequate current public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company does not undertake any obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forward-looking statements.