MTB Metals Announces Securityholder and Court Approval for Plan of Arrangement with ExGen Resources

Vancouver, British Columbia--(Newsfile Corp. - December 16, 2025) - ExGen Resources Inc. (TSXV: EXG) (OTC Pink: BXXRF) ("ExGen", the "Company") and MTB Metals Corp. (TSXV: MTB) (OTCQB: MBYMF) (FSE: E8H) ("MTB"): ExGen and MTB are pleased to announce that at the special meeting of securityholders of MTB held on December 11, 2025 (the "Meeting"), MTB shareholders ("Shareholders") and optionholders (together with the Shareholders, the "Securityholders") voted overwhelmingly in favour of the previously announced plan of arrangement (the "Arrangement") between MTB and ExGen.

Additionally, today, MTB received a final order of the Supreme Court of British Columbia approving the Arrangement.

Under the Arrangement, ExGen will acquire all of the issued and outstanding securities of MTB. In consideration therefore, each one MTB share will be exchanged for 0.286 of one common share in the capital of ExGen.

At the Meeting, the special resolution approving the Arrangement was approved overwhelmingly by: (i) 94.31% of the votes cast by Shareholders present in person or represented by proxy at the Meeting, and (ii) 94.52% of the votes cast by Securityholders present in person or represented by proxy at the Meeting.

Completion of the Arrangement is subject to the satisfaction of customary closing conditions for a transaction of this nature, including receipt of approval of the TSX Venture Exchange (the "TSXV"). Subject to the satisfaction (or waiver) of the closing conditions, it is expected that the Arrangement will be completed on December 19, 2025. In connection with completion of the Arrangement, it is expected that MTB shares will be delisted from the TSXV.

ABOUT MTB METALS CORP. 

MTB is advancing two copper-gold projects in the prolific Golden Triangle of northern British Columbia.

Telegraph: 350 square kilometre property located in the vicinity of 4 notable porphyry deposits all being explored or mined by major mining companies. Field work by MTB, together with earlier results, provides compelling evidence for the presence of one or more porphyries similar to the others in the area.

Southmore: 50 square kilometer property hosts several significant copper and gold occurrences. Surface samples include a sample with 12.7% copper and another with 29.4 g/t gold.

MTB also holds royalties on four projects in the Golden Triangle, including two past producing mines.

On behalf of the Board of Directors of MTB:
Lawrence Roulston
President & CEO 

For further information on MTB:
Caroline Klukowski, Investor Relations