Vancouver, British Columbia--(Newsfile Corp. - December 12, 2022) - CAVU Energy Metals Corp. (CSE: CAVU) (OTCQB: CAVVF) (FSE: 5EO) ("CAVU" or the "Company") provides an update on its upcoming special meeting of shareholders (the "Meeting"), being held on December 13, 2022 at 11:30 a.m. (Vancouver Time) at 6^th Floor - 905 West Pender Street, Vancouver, BC V6C 1L6.

At the Meeting, CAVU's shareholders (each, a "CAVU Shareholder") will be asked to vote on the proposed acquisition of CAVU by Alpha Copper Corp. ("ALCU") by way of a plan of arrangement (the "Transaction") based on an arrangement agreement between the Company and ALCU dated September 30, 2022, as amended on November 8, 2022 (the "Arrangement Agreement"). If the Arrangement becomes effective, CAVU Shareholders will receive 0.7 of a common share in the capital of ALCU for each common share held in the capital of CAVU (the "Consideration"). For more information regarding the Arrangement, please see the Company's management information circular dated November 14, 2022, in respect of the Meeting (the "Circular"), which is available on the Company's SEDAR profile at .

If the Arrangement is approved at the Meeting, CAVU anticipates applying to the Supreme Court of British Columbia (the "Court") for the final order to approve the Transaction (the "Final Order") on December 15, 2022 at 9:45 a.m. (Vancouver time) at the Supreme Court of British Columbia, 800 Smithe Street, Vancouver, British Columbia. CAVU Shareholders may file a response to the petition for the Final Order (the "Petition") by filing and serving such response by 4:00 pm (Vancouver time) on December 13, 2022 as per the directions set out in the Notice of Hearing of Petition for Final Order (the "Notice of Hearing") attached as Appendix C to the Circular.

For further information regarding the Court hearing for the application for the Final Order and the rights of CAVU Shareholders in connection therewith, see the filed Notice of Hearing attached as Appendix C to the Circular, available under CAVU's profile at , as well as the filed Petition to the Court, available at the Company's website at and upon request in writing to Whitelaw Twining, 2400 - 200 Granville Street, Vancouver, BC V6C 1S4, Attention: Nicole Chang and Lauren Gnanasihamany.

About CAVU Energy Metals Corp.

CAVU Energy Metals Corp. is a mining company engaged in the acquisition, exploration and development of mineral projects containing metals used in green technologies and the renewable energy sector. The Company is currently focused on the exploration of its Hopper Copper-Gold Project in Yukon and recently acquired Star Copper-Gold Porphyry Project in BC.

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On Behalf of the Board of Directors of CAVU,
Dr. Jaap Verbaas, P. Geo.
CEO and Director
CAVU Energy Metals Corp.
jverbaas@cavumining.com
604-493-2997

Forward-Looking Statements

Cautionary Note Regarding Forward-Looking Information: Certain statements contained in this news release constitute forward-looking information under applicable Canadian, United States and other applicable securities laws, rules and regulations, including, without limitation, statements with respect to the consummation and timing of the Transaction; the satisfaction of the conditions precedent to the Transaction; and timing, receipt and anticipated effects of court, regulatory and other consents and approvals. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on CAVU's current beliefs or assumptions as to the outcome and timing of such future events. There can be no assurance that such statements will prove to be accurate, as CAVU's actual results and future events could differ material from those anticipated in these forward-looking statements. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to CAVU. The forward-looking information contained in this news release is made as of the date hereof and CAVU undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

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