Vancouver - Multi-Metal Development Ltd (TSXV: MLY) (OTC Pink: MLYCF) (formerly American Cumo Mining Corporation) is pleased to announce that it has completed the stage 2 ore-sorting analysis of the drill core at its CuMo project.

The work completed involved the detailed visual analysis of all holes (37) drilled by the Company into the mineralized zone and is in addition to the stage 1 Ore-Sorting analysis reported in news release date June 2, 2017.

The Cumo Deposit is a vein stockwork deposit with the vast majority of the contained metals (Mo, Cu, Ag, Re and W) occurring within very thin veins and veinlets, irregularly spread throughout the deposit. This means that the largest part of potentially mined material will be waste, and a smaller portion will be mill feed. The Company intends to utilize and optimize industry-proven ore-sorting technology, which is designed to remove a large percentage of the waste before it enters a mill for further processing. Since a large part of the waste is being removed, ore sorting also substantially improves the grade of the material being fed to a mill. Importantly, the elimination and removal of significant percentages of waste material prior to processing provides the ability to utilize a smaller mill or concentrator than would be needed without ore sorting, which further translates into potentially material savings in capital and operating expenditures. Stage 1 ore sorting tests successfully established that X-ray fluorescence (XRF) can be used to identify the grade of mined material and thereby eliminate and divert away from the mill significant portions of waste material.

The current work completed involves the detail visual analysis to determine the percentage of the material in the drill holes that contains the actual metals, expanding on the stage 1 testing. A total of 62,319 feet of core in 37 drill holes were separated into one of three geologic zones previously identified and examined based on the 50-foot bench composites used to calculate the current resources. Each 50-foot composite was broken down into 3-inch sections (75 mm). Visually, it was determined, if the individual piece contained any metal bearing veins/veinlets, the number and thus the total length of metal bearing material was determined. The results of the analysis show that overall, approximately 16% of the identified resource contains the largest part of the metals in the deposit.

About Multi-Metal Development Ltd ('MultiMet')

MultiMet is focused on advancing the CuMo Project owned by its subsidiary International CuMo Mining Corp. towards feasibility and working on its Bleiberg project in Austria. Management is continuing to build an even stronger foundation from which to move the Company and its projects forward.

Contact:

Shaun Dykes

Tel: (604) 689-7902

Email: info@multimetdev.com

Cautionary statement regarding forward looking information

This news release contains 'forward-looking information' within the meaning of applicable Canadian securities legislation including, but not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, such the Company's ability to move its CuMo Project to feasibility and production, and to become one of the largest and lowest-cost molybdenum producers in the world as well as a significant producer of copper and silver. Forward-looking information is based on a number of material factors and assumptions, including the result of exploration activities, the ability of the Company to raise the financing for a feasibility study and to put the CuMo project into production, that no labour shortages or delays are experienced, that plant and equipment function as specified that the Court will not intervene with the Company's proposed exploration activities at the CuMo Project, and the ability of the Company to obtain all requisite permits and licenses to advance the CuMo Project and eventually bring it into production. Forward-looking information involves known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future prediction, projection or forecast expressed or implied by the forward-looking information. Such factors include, among others, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of molybdenum, silver and copper; possible variations in grade or recovery rates; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing, as well as those factors disclosed in the Company's publicly filed documents, including the Company's Management's Discussion and Analysis for the period ended March 31, 2022. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

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