Kiplin Metals Comments on Fission 3.0 Activities Near Cluff Lake Road Uranium Project, Saskatchewan

See: https://www.cp24.com/news/trudeau-government-invests-almost-1-billion-in-new-ontario-nuclear-reactor-1.6124001

According to the IAEA (International Atomic Energy Agency), there are about 50 SMR designs and concepts in the world. Most of them are in various stages of development and some are considered to be operational in the short term. Earlier this year, four provincial governments (Saskatchewan, Ontario, New Brunswick and Alberta) advanced a plan to develop nuclear power in Canada. Don Morgan, the minister responsible for SaskPower in Saskatchewan, and his provincial counterparts said the small reactors are a good solution for delivering clean power to remote communities and Alberta’s oil sands.

Key highlights in the federal government’s recent statement include:

• The financing, offered as soft debt from the Canada Infrastructure Bank (CIB) pool and earmarked for clean energy investments, would be used for preparatory work required prior to nuclear construction, including project design and site preparation.

• In Tuesday’s announcement, Ontario Power Generation (OPG) CEO Ehren Cory said the company will invest the funds to allow the SMR reactor to be built and fully operational at Darlington Nuclear Power Plant by 2029. Cory was supported by Ontario Secretary of Energy, Tod Smith.

• Acknowledgment that nuclear power is critical to achieving Canada’s climate goals. Wilkinson said at the Darlington Energy Complex in Clarington, Ontario, “Canada, like the rest of the G7, is targeting net-zero emissions by 2050. The government has an interim target of reducing emissions by 40% to 45% below 2005 levels by 2030. Nuclear energy is a source that can help meet our climate goals while meeting growing future demand.”

• Once the SMR is fully built, OPG says it will avoid about 740,000 tons of greenhouse gas emissions per year – roughly the equivalent of the gaseous emissions of 160,000 gas-powered cars.

The Athabasca Basin in Saskatchewan is Canada’s leading uranium producer, 90 percent of which is exported and fuels the remaining 10 percent for nuclear reactors in Canada. Saskatchewan’s uranium powers approximately 1 in 20 homes in the United States

. According to the 2021 Fraser Institute of Mining Companies annual survey, Saskatchewan has retained its first place as the best place in Canada and is the second best jurisdiction in the world for mining investment attractiveness. Kiplin is well positioned in the Athabasca District and has the right to earn a 100% interest in the Cluff Lake Road Uranium Project (“CLR”). The CLR project covers approximately 531 hectares in the southwest Athabasca Basin and is located five kilometers east of the Cluff Lake Road (Hwy 955) which leads to historic Cluff Lake

Mine that historically produced approximately 62 million pounds of yellowcake uranium. The CLR project is also wholly owned by Fission 3.0 Corp.’s high profile Paterson Lake North (PLN) project. surround.

Results from a recently completed exploration program (see news release dated October 5, 2022) on the CLR project will be announced once assay results are received.

“The company welcomes the federal government’s support for the development and advancement of the small modular reactor (SMR) sector. SMR could play a significant role in reducing Canada’s future emissions and could enable energy self-sufficiency for smaller northern communities and encourage the development of remote resource projects. Growth and resurgence in the nuclear sector will require additional uranium deposits and Kiplin is focused on exploration in the uranium-rich Athabasca District,” states Director Dr. Peter Born. *( https://www.saskatchewan.ca/business/investment-and-economic-development/key-economicsectors/energy#:~

: text=Saskatchewan%20is%20s%20%20%20%20%27s%20leading%20%20%20%20%20%20supplier%20%20uranium,1%20in%2020%20homes%20in%20the%20United%20States.) dr Peter Born, P.Geo., is the designated Qualified Person as defined by National Instrument 43-101

and is responsible for and has approved the technical information contained in this press release.

About Kiplin Metals Inc. Kiplin Metals Inc.

is a mineral exploration company. We create value for our shareholders by identifying and developing highly prospective mineral exploration opportunities. Our strategy is to advance our projects from discovery to production. This vertically integrated strategy enables Kiplin Metals to deliver exceptional shareholder value throughout the lifecycle of the mining process. Cluff Lake Road Uranium Project. Kiplin Metals has the right to earn

a 100% interest in the Cluff Lake Road Uranium Project (the “CLR Project”). The CLR project covers approximately 531 hectares in the southwestern Athabasca Basin of northern Saskatchewan where several new discoveries have been made, including the Arrow and Tripe R uranium deposits. The CLR project is located 5 km east of Cluff Lake Road (Hwy 955), leading to the historic Cluff Lake Mine which historically produced approximately 62,000,000 pounds of yellowcake uranium. Exxeter Gold Project

covers 715 hectares in Val d’Or Quebec, one of the premier gold deposits in the world which produced over 113.4 million oz Au by the end of 2019. The project includes 3.8km of the Cadillac Tectonic Zone, the main zone of geological structure responsible for cold mineralization in the Val d’Or. For more information, contact the company at [email protected] or visit the company’s website at www.kiplinmetals.com

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On behalf of the Board of Directors,

Kiplin Metals Inc.

For more information, contact the company at 604-622-1199.

On behalf of the Board of Directors,

“Peter Born”

director

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. This press release may contain forward-looking statements that involve risks and uncertainties. All statements contained herein, other than statements of historical fact, are forward-looking. Although the Company believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. No assurance can be given that such statements do so

may prove to be correct and therefore readers are advised to rely on their own assessment of such uncertainties. We assume no obligation to update any forward-looking statement, except as required by applicable law.