EV Minerals Engages IOS Services Geoscientifiques for 2023 Exploration at EV Nickel Project in Saguenay- Lac- Saint-Jean Region, Quebec

Toronto, Ontario--(Newsfile Corp. - November 13, 2023) -  EV Minerals Corporation  (CSE: EVM) (FSE: RLC) (the "Company" or "EV Minerals") is pleased to announce that the Company has engaged IOS Services Geoscientifiques Inc. ("IOS") as its technical team in Quebec while executing the previously announced 2023 exploration program.

IOS has deep experience in the Saguenay-Lac-Saint-Jean Region and has previously worked on the EV Nickel-Copper-Cobalt Project ("EV Nickel Project") in Quebec.

Led by EV Minerals' Qualified Person, Rejean Girard, P. Geo., IOS will oversee the contracted drilling company and execute the outlined program which includes:

• Comprehensive desktop program - analysis focused on known historical drill data and regional geology to produce detailed near-term and long-term exploration plans and targets
• Confirmatory drilling on the historically drilled non-43-101 compliant resource of 5.855 Mt grading 0.21% Nickel ("Ni"), 0.11% Copper ("Cu"), 0.03% Cobalt ("Co")*
• Exploratory drilling program focused on the Eastern airborne time domain electromagnetic (TDEM) anomaly, on which the sole historic hole returned the best historic intercept
• Metallurgical testing

About IOS and Rejean Girard

IOS Services Géoscientifiques Inc, from Sagnenay, is a nationally reputed, broadly experienced and fully independent geological consulting firm with more than 30 years of experience in mineral exploration management. The firm is specialized in conducting turn-key exploration programs for mineral explorers and has been involved in more than 1800 projects so far. Réjean Girard, president of the firm, acting as independent qualified person on behalf of EV Minerals Corporation, brings more than 40 years of experience to the team, and has been involved in dozens of nickel exploration projects located in a similar setting as the current EV Nickel Project.

Additionally, IOS has engaged Forage Première Nation Inc, a First Nation's drilling company from Matshieuiatsh (Pointe-Bleue) Innu community, to complete the drilling program which has commenced at the EV Nickel Project.

About EV Nickel-Copper-Cobalt Project

The 1,792-hectare EV Nickel-Copper-Cobalt Project has been a source of ongoing enthusiasm for the EV Minerals technical team. The Project is located north of Saguenay Quebec and is easily accessible by numerous forest service roads. The EV Nickel Project has an undeveloped resource of 5.585 million tonnes with grades of 0.21% Ni, 0.11% Cu and 0.03% Co (NI 43-101 non-compliant resource)*. The EV Nickel Project (formerly the McNickel or Poisson Blanc deposit) was discovered in 1987 with a major drilling campaign completed in 1989 by a junior explorer.

The claims host a magmatic sulphide deposit consisting of disseminated, stringer and massive nickel, copper, and cobalt mineralization in a gabbro - leucogabbro host rock. It is likely a sill which has intruded anorthositic rocks of the expansive Lac-St-Jean anorthosite Complex. The property lies on the far western edge of the Complex which is a major Proterozoic age formation intruding high-grade gneisses and granitic complexes. In 1998 the Quebec Government produced a detailed report on the property in the publication: "Etude Du Gite De Cu-Ni-Co De McNickel, Suite Anorthositique De Lac Saint-Jean." Thomas Clark, Claude Hebert. ET 98-02.

Qualified Person

Rejean Girard, an independent Qualified Person ("QP") as such term is defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the geological information reported in this news release.

About EV Minerals Corporation

EV Minerals Corporation is a Canadian exploration company focused on mineral exploration and development. The current focus is the EV Nickel Project, host of the nickel-copper-cobalt McNickel deposit. The Project is comprised of 32 mineral claims covering approximately 1,792 hectares located in the Saguenay area, the Province of Quebec. This deposit is reputed containing a historical resource of 5.585 million tonnes with grades of 0.21% Ni, 0.11% Cu and 0.03% Co (NI 43-101 non-compliant resource), which is to be re-evaluated with the consideration of using either bioleaching or acid leaching and electrowinning for nickel, cobalt and copper recovery.

* The foregoing historical resource estimates presented above were completed in 1985, prior to the implementation of the requirements of National Instrument 43-101 - Standards of Disclosure for Mineral Projects. The Company is not treating the historic resources as current. However, given the abundance and quality of the historic drill work completed, the Company is confident that a mineral resource could be generated on the deposit through sufficient confirmation drilling.

For more information, please contact:

Nicholas KonkinPresident and CEO, Director[email protected]416-642-1807 Ext 305

This news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

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