Cruz Announces Record Date of October 29th for Spin-Out of Hector Silver-Cobalt Project

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Vancouver, British Columbia--(Newsfile Corp. - October 25, 2024) - Cruz Battery Metals Corp. (CSE: CRUZ) (OTC Pink: BKTPF) (FSE: A3CWU7) ("Cruz" or the "Company") wishes to announce that, further to its news release dated August 1, 2024 and September 6, 2024 (the "Arrangement Agreement") it has entered into an arrangement agreement with its wholly-owned subsidiary, Makenita Resources Inc. ("Makenita"), pursuant to which the Company intends to: (i) transfer all of its rights, title and interest in and to its Hector Silver-Cobalt Project (the "Hector Property"), consisting of 126 contiguous unpatented mineral claims totaling 2,243 hectares (5,542-acres), located within the Coleman and Gillies Limit Townships, Larder Lake Mining Division, Timiskaming District, Ontario, Canada, and (ii) spin-out all of the securities of Makenita received in consideration for the Hector Property (the "Makenita Spinout Share") to Cruz's securityholders on a pro rata basis, all pursuant to a statutory plan of arrangement (the "Arrangement") to be effected under Part 9, Division 5 of the Business Corporations Act (British Columbia) (the "BCBCA").

The record date will be October 29, 2024. The mailing date will be November 5, 2024 and the Meeting date will be December 11, 2024. The meeting is being held by Notice and Access and we recommend and encourage everyone to vote in person or by proxy in support of the Arrangement.

James Nelson, President of Cruz states, "You must be a shareholder of record on October 29, 2024 to receive the free shares of Makenita. Not only will you gain free exposure to Makenita, you will still maintain 100 percent of your Cruz shares as well. This is a very nice bonus for shareholders of record to receive free shares without any additional cost to them. Cruz has well over a million dollars in the treasury currently allowing Cruz the ability to be nimble and opportunistic to maximize the shareholders' value in the short and medium term going forward. Management is optimistic about both Cruz shares going forward and the new company Makenita, as it will start off with clean share structure at a time when the junior markets are showing strong signs of recovery."

The Arrangement will result in Makenita becoming a separate "reporting issuer" in each of Alberta, British Columbia and Ontario, and will allow it to focus on the development of the Hector Property. The Hector Property will be Makenita's material property for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects. The Company will focus on the development of its Solar Lithium Project and Clayton Valley Lithium Project in Nevada, and its Idaho Cobalt Belt Project in Idaho (collectively, the "US Properties") and intends to seek to acquire more advanced assets of business opportunities of merit.