Electric Metals (USA) Limited Closes $4 Million Non-Brokered Private Placement Led by Eric Sprott and Crescat Capital

Vancouver, BriEsh Columbia, October 24, 2025: Electric Metals (USA) Limited ("EML" or the "Company") (TSXV: EML) (OTCQB: EMUSF) is pleased to announce the closing of its previously announced nonbrokered private placement, raising gross proceeds of approximately C$4 million. The financing, led by Eric SproJ and Crescat Capital, will advance the Company’s North Star Manganese Project in Minnesota, supporPng a criPcal U.S. domesPc supply of high-purity manganese products, including high-purity manganese sulfate monohydrate (HPMSM), for the U.S. electric vehicle baJery and energy sector.

Under the Offering, the Company issued 13,330,000 units (the “Units”) at a price of C$0.30 per Unit. Each Unit consists of one common share of the Company (a “Share”) and one-half of one non-transferable common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to acquire one additional Share at an exercise price of C$0.45 for a period of 18 months. The Shares and any Shares issued upon exercise of the Warrants are subject to applicable hold periods in accordance with securities laws and exchange policies.

Eric SproJ and Crescat Capital, who also led the Company’s previous financing, again parPcipated as cornerstone investors, demonstraPng their conPnued support for the Company’s long-term strategy and reinforcing the strength of its shareholder base. Certain Company Directors and other exisPng shareholders also parPcipated, reflecPng broad confidence in the Company’s growth prospects.

As a result of his parPcipaPon in the Offering, Eric SproJ is now considered an insider of the Company, holding approximately 11.4% on a parPally-diluted basis assuming the exercise of converPble securiPes.

Kevin Smith, CFA, Founder and CEO of Crescat Capital, commented: “The posiPve PEA confirms the strong economics and strategic importance of the North Star Manganese Project as a potenPal domesPc source of high-purity manganese. With 96% of HPMSM sPll produced in China, Electric Metals is well-posiPoned to advance this criPcal U.S. supply chain opportunity, and we’re pleased to conPnue our support as cornerstone investors.”

Brian Savage, CEO, Electric Metals, commented: "ComplePon of the posiPve PEA marks a major milestone for Electric Metals, confirming the strong potenPal of the North Star Manganese Project. This financing strengthens our ability to advance key technical, environmental, and permieng iniPaPves as we move the project toward development. We greatly appreciate the conPnued support of Eric SproJ, Crescat Capital, and other insPtuPonal and accredited investors who share our vision of building a secure, U.S. supply of high-purity manganese products."

Net proceeds will be used to advance key initiatives, including addiPonal ore characterizaPon, metallurgical and process test work, an HPMSM scoping study, environmental baseline studies, iniPaPon of permieng for the Emily Mine, community outreach, other criPcal research at the North Star Manganese Project, and general corporate purposes.

This financing aligns with recent U.S. policy initiatives aimed at strengthening domestic critical mineral supply chains. The Emily Manganese Project is uniquely positioned to support these national objectives by reducing reliance on foreign sources of manganese and reinforcing U.S. economic and energy security.

Under the Offering, directors of the CorporaPon have subscribed for a total of 426,666 Units for a total consideraPon of C$127,999.80, which consPtutes a "related party transac/on" within the meaning of Regula/on 61-101 respec/ng Protec/on of Minority Security Holders in Special Transac/ons ("RegulaEon 61-101") and TSXV Policy 5.9 – Protec/on of Minority Security Holders in Special Transac/ons. However, the directors of the CorporaPon who voted in favor of the Offering have determined that the exempPons from formal valuaPon and minority approval requirements provided for respecPvely under subsecPons 5.5(a) and 5.7(1)(a) of RegulaPon 61-101 can be relied on as neither the fair market value of the Shares issued to this insider, nor the fair market value of the consideraPon paid exceeded 25% of the CorporaPon’s market capitalizaPon. None of the CorporaPon’s directors have expressed any contrary views or disagreements with respect to the foregoing. A material change report in respect of this related party transacPon will be filed by the CorporaPon but could not be filed earlier than 21 days prior to the closing of the Offering, due to the fact that the terms of the parPcipaPon of each of the non-related parPes and the related parPes of the Offering were not confirmed.

About Electric Metals (USA) Limited

Electric Metals (USA) Limited (TSXV: EML; OTCQB: EMUSF) is a U.S.-based critical minerals company advancing manganese and silver projects that support the electrification of everything. The Company’s principal asset is the Emily manganese deposit in Minnesota, the highest-grade manganese deposit in North America. The North Star Manganese Project, a 100% domestic U.S. project comprised of a manganese mine in Emily, Minnesota, and a high-purity manganese sulfate monohydrate (HPMSM) chemical plant in the U.S., has been the subject of extensive technical work, including a Preliminary Economic Assessment prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects.

Electric Metals’ mission is to establish a fully domestic U.S. supply of high-purity manganese chemical and metal products for the North American electric vehicle battery, energy storage, technology, and industrial markets. With manganese playing an increasingly important role in lithium-ion battery formulations, and with no current domestic production in North America, the development of the North Star Manganese Project represents a strategic opportunity for the United States, the State of Minnesota, and for the Company’s shareholders.

For further informaEon, please contact:

Electric Metals (USA) Limited Brian Savage CEO & Director (303) 656-9197 [email protected]

Forward-Looking InformaEon

This news release contains “forward-looking informaPon” and “forward-looking statements” (collecPvely, “forward-looking informaPon”) within the meaning of applicable securiPes laws. Forward-looking informaPon is generally idenPfiable by words such as “believes,” “may,” “plans,” “will,” “anPcipates,”

“intends,” “could,” “esPmates,” “expects,” “forecasts,” “projects,” and similar expressions, and the negaPve of such expressions.

Forward-looking informaPon in this news release includes, but is not limited to: statements regarding the expected use of proceeds from the Offering; the advancement of technical, environmental, and economic studies related to the Emily Manganese Project; the Company’s plans to develop a U.S. supply of highpurity manganese chemical and metal products; and other statements regarding the Company’s strategy, objecPves, and potenPal future developments. Forward-looking informaPon may also include statements concerning the role of manganese in lithium-ion baJery formulaPons, the importance of developing domesPc supply chains, and the anPcipated contribuPon of the Emily Manganese Project to U.S. criPcal mineral independence.

Forward-looking informaPon is based on the reasonable assumpPons, esPmates, analyses, and opinions of management at the Pme such statements are made, including, among other things, assumpPons regarding general business and economic condiPons; the availability of financing; the Pming and results of technical and environmental studies; future demand for high-purity manganese products; and regulatory and permieng processes. Forward-looking informaPon is subject to known and unknown risks, uncertainPes, and other factors that may cause actual results to differ materially from those anPcipated or implied, including but not limited to: changes in market condiPons; volaPlity in capital markets; the results of exploraPon, metallurgical, and engineering work; permieng delays; cost overruns; and other risks described in the Company’s public filings available under its profile on SEDAR+ (www.sedarplus.ca). Readers are cauPoned that forward-looking informaPon is not a guarantee of future performance and that actual results may differ materially from those expressed or implied. Except as required by law, the Company undertakes no obligaPon to update or revise any forward-looking informaPon as a result of new informaPon, future events, or otherwise.

Neither the TSX Venture Exchange nor its RegulaPon 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.