EV Minerals Corporation announced that the Company has signed a binding Letter of Intent ("LOI") to acquire 100% of the Baldwin and Lunge Projects (the "Sudbury Projects") from Graycliff Exploration Ltd. (the "Vendor"). The Sudbury Projects, covering 2,192 hectares, are located in the prolific Sudbury mining camp, in an area with many past producers and current exploration projects, including the historic Shakespeare Nickel Mine (Ni-Cu-PGM) currently owned by Magna Mining. The technical team is extremely enthusiastic about the striking similarities and parallel geological structures present in the area.

EV Minerals is mobilizing a technical team to the Sudbury Projects for an immediate sampling program as part of its due diligence for the LOI. The Baldwin Project, comprised of the Main Baldwin Block and the Northeast Baldwin Block, spans 1,605 hectares, with the adjacent 587-hectare Lunge Project, located 6 km to the northeast, showcasing gold and critical minerals potential. Historic airborne geophysics on both projects revealed multiple new target areas for gold, copper, nickel, and platinum group elements (PGE), with highly prospective anomalies present along major structures.

Baldwin, underlain by rocks of the Huronian Supergroup, exposes a major splay off the Murray Fault. The Elliot Lake Group dominates, comprising mafic, intermediate, and felsic metavolcanic rocks overlying or intercalated with McKim and Matinenda sedimentary formations. The region displays east-to-northeast folding, notably southeast, featuring folded Nipissing sills along the Murray Fault.

Limited surface sampling and drilling on Baldwin encountered sheared metagabbro and intermediate metavolcanics containing sulphide mineralization, indicating opportunities for copper, nickel, and PGE deposits. The Lunge Property, situated 6 km along the Elliot Lake Group strike, hosts folded Nipissing sills and dykes, also indicating potential for copper, nickel, and PGE deposits. Figure 2 illustrates the geology of the area, which outlines the similar NE strike of the Baldwin and Lunge Projects, as well as parallel folding and faulting in the surrounding areas to the north.

Per the terms of the LOI, EV Minerals will purchase a 100% interest in two packages of claims known as the Baldwin and Lunge Projects. The Company will issue the Vendor an aggregate of 2,000,000 common shares in the capital of the Company upon signing the Purchase Share Agreement ('PSA") and has made a one-time cash payment in the amount of twenty-five thousand dollars ($25,000) upon signing of the LOI. EV Minerals acknowledges that there is an existing 2% net smelter return ("NSR") royalty on the Sudbury Projects.

EV Minerals has the right to buy back 1% of the NSR royalty for $1 million.