Metalite Enters into Letter of Intent to Acquire the Launay Gold Property and Establish a Landmark Position in the Abitibi Gold District

Toronto, Ontario--(Newsfile Corp. - March 23, 2026) - Metalite Resources Inc. (CSE: METL) (OTC Pink: JNCCF) (FSE: D680) ("Metalite" or the "Company") is pleased to announce that it has entered into a non-binding letter of intent with Cachee Gold Mines Corp. ("Cachee") dated March 23, 2026, (the "LOI") to acquire all of the issued and outstanding shares (the "Proposed Transaction") of Cachee's wholly-owned subsidiary, Launay Gold Corp. ("Launay"), which owns a 100% interest in a large Abitibi-based gold property (the "Launay Gold Property"). About Launay Gold Property: Launay Gold Property is comprised of 352 claims covering approximately 17,000 hectares, located in the townships of Launay, Privat, Manneville, and Poulaires, Québec.