CULICO METALS INC. ANNOUNCES APPOINTMENT OF SCOTT HAND AS LEAD DIRECTOR AND PROVIDES CORPORATE UPDATE

About this update from Culico Metals Inc.

CULICO METALS INC. ANNOUNCES APPOINTMENT OF SCOTT HAND AS LEAD DIRECTOR AND PROVIDES CORPORATE UPDATE /* Style Definitions */ span.prnews_span { font-size:8pt; font-family:"Arial"; color:black; } a.prnews_a { color:blue; } li.prnews_li { font-size:8pt; font-family:"Arial"; color:black; } p.prnews_p { font-size:0.62em; font-family:"Arial"; color:black; margin:0in; } .prntac{ TEXT-ALIGN: CENTER } Canada NewsWire /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES / TORONTO , Oct. 7, 2024 /CNW/ - Culico Metals Inc. (TSXV: CLCO) (" Culico ", or the " Corporation "), a TSXV Sandbox Listing, is pleased to announce the appointment of Mr. Scott Hand as Lead Director of the Corporation. Mr. Hand is a seasoned mining executive with over 47 years of experience in the mining industry. He previously served as Chairman and CEO of Inco Ltd. before its acquisition by Vale for US$19 billion in 2007. Mr. Hand has held directorships with several resource companies, including serving as Lead Director of Karora Resources Inc. until its acquisition by Westgold Resources Limited for C$1.1 billion in August 2024 . He was also a director of Fronteer Gold Inc., which was sold to Newmont Mining Corporation in 2011 for US$2.3 billion , and of China state-owned Chinalco Mining Corporation International, which operates the Toromocho Copper Mine in Peru . "We are thrilled to announce Scott has agreed to serve as the inaugural Lead Director," said Paul Huet , Chairman of Culico Metals Inc. "Scott's extensive experience and proven leadership in the mining sector over several decades will be invaluable to Culico. Karora shareholders will remember Scott well given his excellent stewardship as Lead Director of Karora Resources leading to its eventual merger with Westgold Resources earlier this year. We are looking forward to continued input from Scott as we advance our corporate strategy." Grant of Stock Options The Corporation also announces that it has granted a total of 5,025,000 stock options to directors and officers of the Company. The options are exercisable at a price of C$0.105 per share and will expire three years from the date of issuance. Pursuant to the enhanced vesting requirements of TSXV Sandbox, the options may not be exercised until the date on which the TSX Venture Exchange has accepted Culico's exit ...

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