EV Minerals Corporation announced plans for the 2023 exploration activities at the EV Nickel-Copper-Cobalt (EV Nickel Project) Project in the Saguenay-Lac-Saint-Jean Region, Quebec. Exploration activities for 2023 are expected to commence during the first week of November and will include both confirmatory and exploratory drilling across the 1,792-hectare property which hosts a historically drilled non-43-101 compliant resource of 5.855 Mt grading 0.21% Nickel ("Ni"), 0.11% Copper ("Cu"), 0.03% Cobalt ("Co"). 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.

Desktop work also includes re-interpretation of historical metallurgical testing and analysis of flight line data from the AirTem Mag and EM survey flown in late 2022 which was interpreted by Condor Consulting, Denver, Colorado and MB Geosolutions, Quebec. Confirmatory drilling - commence upgrading historical resource numbers to NI 43-101 standard. Exploratory drilling - fence drilling program focused on the previously identified Eastern airborne time domain electromagnetic (TDEM) anomaly that included a sole drill hole, DH-158, returning 0.80% Ni, 0.33% Cu, 0.06% Co over 6.52 metres including 1.3% Ni, 0.29% Cu, 0.08% Co over 2.50 metres from 27.92 metres depth.

Metallurgical testing - focused on a follow-up program including drafting of preliminary process design flow charts, which will be based on historical test work and assessing best processes for Ni recovery for the current deposit. The 1,792-hectare EV Nickel-Copper-Cobalt Project has been a source of ongoing enthusiasm for the EV Minerals technical team. This Project is 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 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-Saint-Jean anorthosite complex which covers most of southern Quebec. The property lies on the far western edge of the complex which is a major Proterozoic age formation consisting of high-grade gneisses and granitic intrusives. 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.