Vancouver, British Columbia--(Newsfile Corp. - November 18, 2022) - New Energy Metals Corp. (TSXV: ENRG) (OTC Pink: NEMCF) (the "Company") is pleased to announce the appointment of Rishi Kwatra as the Chief Executive Officer and a Director of the Company, effective immediately.

Mr. Kwatra has over 15 years of proven financial expertise and business acumen which the Company believes will help create a strong business plan and path forward for realizing shareholder and market value.

Mr. Kwatra's many roles include corporate finance, investor relations and mergers and acquisitions for several industry leaders. He has extensive experience in undertaking project generation and business development along with evaluating early to advanced stage M&A opportunities in the mining sector. His extensive network of international contacts in the institutional and capital markets brings strong financial relationships. He has been involved with and led significant financings for various public and private issuers. Mr. Kwatra is also a serial entrepreneur and a seasoned investor in Real Estate. He has studied International Trade and Business Administration in Finance at BCIT. Mr. Kwatra is well-travelled, and fluent in several languages.

Mr. Kwatra comments, "This will be an exciting next phase for ENRG as we continue to evaluate energy metals assets to provide catalysts for shareholders. The Company would like to be well positioned in order to satisfy the surging demand of energy metals worldwide through the acquisition of quality projects and their development."

Marc Enright-Morin, a Director of the Company, says, "Having Mr. Kwatra on board at this pivotal time to progress the mandate of energy metals will be a benefit to all shareholders. We are moving in a direction where the landscape for these commodities will drive value for years to come."

The board and management of the Company express their gratitude to Stuart Ross for all his efforts and contributions as the CEO of the Company. Mr. Ross will continue to serve as a director of the Company.

The Company also announces that it has granted incentive stock options (the "Options") to certain directors, officers and consultants of the Company to acquire an aggregate of 2,299,000 common shares in the capital of the Company at an exercise price of $0.10 per share in accordance with the Company's stock option plan. The Options are exercisable for a five-year term expiring on November 18, 2027.

None of the securities referenced in this news release have been or will be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the foregoing securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About the Company

New Energy Metals is headed up by a progressive team of professionals who are focused on the exploration and development of energy metals throughout the Americas.

On behalf of New Energy Metals Corp.

Marc Enright-Morin
T: 604-669-9788

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein, including the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as "believes", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "potential", "scheduled", or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others: requirements for additional capital; future prices of precious metals, copper and lithium; changes in general economic conditions; changes in the financial markets and in the demand and market price for commodities; other risks of the mining industry; the inability to obtain any necessary governmental and regulatory approvals; changes in laws, regulations and policies affecting mining operations; hedging practices; currency fluctuations; as well as those factors discussed under the heading "Risks and Uncertainties" in the Company's most recent management's discussion and analysis and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company's profile on the SEDAR website at .

Readers are cautioned not to place undue reliance on forward-looking statements. Except as otherwise required by law, the Company undertakes no obligation to update any of the forward-looking statements in this news release or incorporated by reference herein.

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