Early Warning Report - Shares of Canex Metals Inc.

CALGARY, December 30, 2025 - This press release is being disseminated as required by National Instrument 62-103 - The Early Warning System and Take over Bid and Insider Reporting Issues regarding the disposition and acquisition of securities of CANEX Metals Inc. ("Canex").

On December 23, 2025, Eric Fier ("Mr. Fier"), purchased pursuant to a private placement, a total of 7,387,000 Common Shares or 4.42% of the issued and outstanding shares on an undiluted basis of Canex for cash consideration of $1,108,050 or $0.15 per Common Share. Following the share purchase Mr. Fier will beneficially own, control or have direction over, directly or indirectly, an aggregate of 16,695,800 Common Shares representing 10% of the issued and outstanding Common Shares. Mr. Fier's acquisition represents an approximately 4.42% increase in his ownership and or control over Common Shares of Canex, assuming no further common shares of Canex have been issued. The Common Shares are being acquired for investment purposes and in the future, he may further decrease or increase his beneficial ownership of the securities of Canex.

A copy of the early warning report will be available on Canex's Sedar profile at www.sedarplus.ca.

For Further Information Contact:
Shane Ebert at 1.250.964.2699
Web: http://www.canexmetals.ca

SOURCE: CANEX Metals Inc.