Horseshoe Metals Limited (ASX: HOR) (Horseshoe or the Company) provides the following update on the status of the Horseshoe West Farm in and Joint Venture (JV) between Horseshoe's wholly owned subsidiary Murchison Copper Mines Pty Ltd (MCM) and ENRG Elements Limited (ASX:EEL) (ENRG) surrounding the Company's Horseshoe Lights Copper Gold Project in Western Australia.

The Company advises that MCM has been provided notice by ENRG stating its intention to withdraw from the Farm in and Joint Venture Agreement at Horseshoe West to focus on its African Copper and Uranium projects. In accordance with the terms of the Farm in and Joint Venture Agreement entered into on 25 January 2021, ENRG was required to provide 30 days advance notice of withdrawal, resulting in an effective withdrawal date of 30 November 2022. Horseshoe looks forward to receiving and reviewing the data on exploration completed to date by ENRG prior to advancing this prospective area surrounding the Horseshoe Lights Copper Deposit.

Commenting on the Horseshoe West tenements, Director & CFO Kate Stoney said: 'We would like to thank ENRG for their exploration efforts to date at Horseshoe West and we look forward to receiving the exploration data for full review and analysis. We are very pleased to be retaining a 100% interest in this asset and our technical team is very confident that the Horseshoe West area contains multiple high quality gold and copper targetslocated only 1,500m west of the existing Horseshoe Lights copper deposit. We look forward to providing a comprehensive update on our exploration plans for Horseshoe West following the completion of our data review over the coming weeks.' The Board of Directors of HOR has authorised this announcement to be given to the ASX

Contact:

Kate Stoney

Director & CFO

T: +61 (0) 408 909 588

Investor

Sam Burns

Six Degrees

T: +61 (0) 400 164 067

E: info@horseshoemetals.com.au

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