Metals One announced that the Company's SRH Råna Project (nickel, copper, cobalt) partner and operator, Kingsrose Mining Limited, has reported results from the first two holes drilled as part of the 5,000m diamond drilling programme. Results confirm the presence of high-grade semi-massive nickel-copper-cobalt sulphide mineralisation, and a broad zone of disseminated sulphide mineralisation at Bruvann, located within the Company's Arnes prospect, whilst demonstrating that mineralisation in the area is open along strike from existing mine infrastructure. Discussion of Results: Kingsrose has received analytical results for the first two holes (totalling 776 metres) of the planned 5,000m drill programme and significant results from these holes.

Results are discussed below, where both holes were designed to test along strike from known mineralisation whilst also providing stations to conduct downhole EM surveys. These holes were drilled prior to completion of the ground based geophysical surveys and were based on geological interpretation from existing mapping and historical drill data. The results will be used to further inform the geophysical data interpretations and generation of follow up drill targets.

Hole 23BRU001: Drillhole 23BRU001 was designed to test an area 20m southwest and along strike from a high-grade mineralised zone identified from a review of historical drill data, adjacent to underground mine infrastructure where there is no recorded historical mining activity. The hole intercepted disseminated pyrrhotite-chalcopyrite mineralisation hosted in norite from 162.4m, with a one-metre thick cross-cutting vein type massive sulphide zone within a raft of gneiss wall rock from 173.9m. Vein hosted massive sulphide mineralisation comprises pyrrhotite, pentlandite, chalcopyrite and a rare silver coloured, metallic mineral tentatively identified as skutterudite (nickel, cobalt and arsenic bearing sulphide).

The mineralised zone intercepted in 23BRU001 remains open to the east, west and down dip, and a downhole electromagnetic survey of the hole identified a strong off-hole conductor along strike to the west. Hole 23BRU003: Drillhole 23BRU003 was designed to test an area along strike and down plunge from mineralisation identified from a review of historical drill data at the western extent of the Bruvann Mine. The hole intercepted disseminated, blebby and net-textured pyrrhotite-chalcopyrite mineralisation from 470.6m.

This mineralisation is hosted within peridotite and is located where expected based on the geological interpretation and provides an important vector for future drill planning. The mineralised zone is cross-cut by rare, millimetre scale sulphide veinlets composed of pyrrhotite and pentlandite. A combination of ground-based EM and downhole EM data from this hole identified an off-hole, mid-time anomaly over 200m metres to the west and along strike from the mineralised zone intercepted in 23BRU003.