Tectonic Metals Announces Drilling on the Flat Gold Project and Provides Corporate Update

Oriented Diamond Drilling Underway to Test Mineralization Along Strike and Depth While Obtaining Critical Structural Data at Chicken Mountain

VANCOUVER, BC / ACCESSWIRE / September 20, 2023 / Tectonic Metals Inc. (TSXV:TECT)(OTCQB:TETOF)(FSE:T15B) ("Tectonic" or the "Company"), a mineral exploration company employing a rigorous up-front approach to addressing project risk, economics, community benefits, and the sustainability of exploration projects in the pursuit of genuine mine opportunities, today confirmed that drilling commenced at the Flat Gold Project.

"Although initially hampered by weather delays, we are thrilled to announce that diamond drilling is well underway with drill core in hand. I would like to applaud our team for doing an exceptional job in working through challenging conditions to mobilize our people, equipment, fuel, and the diamond drill to site safely," stated Tony Reda, President and Chief Executive Officer of Tectonic. "With the diamond drill producing core, we have embarked on arguably the most important aspect of our 2023 drill program. Oriented diamond drilling to 400 metres of depth will help us define the structural characteristics of gold mineralization and determine if mineralization intensifies further down into the reduced intrusion-related gold system at Chicken Mountain."

Corporate Update: AGM Resolution on Share Consolidation

As required by the TSX Venture exchange, Tectonic confirms that as part of the upcoming special and annual general meeting (the "AGM") on September 21, 2023, the Company has included a resolution in the AGM Management Information Circular to enable, but not require, the Company to enact a share consolidation of up to twenty pre-consolidation common shares for every one post-consolidation common share. The Company has no current plans to enact a share consolidation. The resolution's intent is simply to maintain optionality in the event a consolidation is in the best interest of shareholders.

About the Flat Gold Project
Tectonic is currently assessing the Flat Gold Project in partnership with Doyon Limited ("Doyon"), one of Alaska's largest native regional corporations and a significant Tectonic investor. Between 1908 and 1966 approximately 1.4 million ounces of Placer Gold was produced in and around the Flat Gold project¹. Chicken Mountain is credited as the primary source of this historic placer gold¹. You can find Chicken Mountain on Google Earth here.