CoTec Holdings Corp. Provides Operational Update - Seite 2

Lac Jeannine PEA

The Company has completed sampling at the Lac Jeannine property and metallurgy testing and process flow development with its technical consultant and Corem. Corem has produced circa 30 kg of high-grade Fe concentrate to date.

CoTec has awarded contracts for the National Instrument 43-101 ("NI43-101") PEA for the Lac Jeannine Project to an interdisciplinary team of consultants, engineers and scientists co-led by Addison Mining Services Ltd. and Soutex Inc. The PEA is anticipated to be completed and published by H1 2024. The PEA will incorporate the Company's 2023 drill-program and metallurgy testing results at Corem, providing a maiden Mineral Resource Estimate for the Lac Jeannine Project.

The Study's techno-economic analysis will present a scenario with concentrate from Lac Jeannine providing feedstock for a low carbon pelletizing technology.

Senior representatives of the Company have commenced a process to engage and meet with the numerous potential stakeholders, including the Government of Québec.

NCIB

Since its approval on January 23, 2024, the Company acquired 625,000 shares under the NCIB at prices ranging between $0.60 and $0.69.

About CoTec

CoTec is a publicly traded investment issuer listed on the TSX Venture Exchange ("TSX- V") and the OTCQB and trades under the symbol CTH and CTHCF respectively. The Company is an environment, social, and governance ("ESG")-focused company investing in innovative technologies. These technologies have the potential to fundamentally change the way metals and minerals can be extracted and processed for the purpose of applying those technologies to undervalued operating assets and recycling opportunities, as the Company transitions into a mid-tier mineral resource producer.

CoTec is committed to supporting the transition to a lower carbon future for the extraction industry, a sector on the cusp of a green revolution as it embraces technology and innovation. The Company has made four investments to date and is actively pursuing operating opportunities where current technology investments could be deployed.

For further information, please contact:

Braam Jonker - [phone]

Forward-Looking Information Cautionary Statement

Statements in this press release regarding the Company and its investments which are not historical facts are "forward-looking statements" which involve risks and uncertainties, including statements relating to the Feasibility Study, PEA, the NCIB as well as management's expectations with respect to other current and potential future investments and the benefits to the Company which may be implied from such statements. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements, due to known and unknown risks and uncertainties affecting the Company, including but not limited to resource and reserve risks; environmental risks and costs; labor costs and shortages; uncertain supply and price fluctuations in materials; increases in energy costs; labor disputes and work stoppages; leasing costs and the availability of equipment; heavy equipment demand and availability; contractor and subcontractor performance issues; worksite safety issues; project delays and cost overruns; extreme weather conditions; and social disruptions. For further details regarding risks and uncertainties facing the Company please refer to "Risk Factors" in the Company's filing statement dated April 6, 2022, a copy of which may be found under the Company's SEDAR profile at www.sedar.com. The Company assumes no responsibility to update forward-looking statements in this press release except as required by law. Readers should not place undue reliance on the forward-looking statements and information contained in this news release and are encouraged to read the Company's continuous disclosure documents which are available on SEDAR at www.sedar.com.