BWR Exploration Inc. — M&A Activity 2025

Nov 25, 2025

D M C L

dmcl.ca

DALE MATHESON CARR-HILTON LABONTE LLP

CHARTERED PROFESSIONAL ACCOUNTANTS

November 21, 2025

TSX Venture Exchange Inc.

Dear Sirs/Mesdames:

Re: BWR Exploration Inc.

We refer to the Information Circular of BWR Exploration Inc. (the "Company") dated November 21, 2025 relating to the proposed amalgamation between the Company and Electro Metals and Mining Inc.

We consent to being named and to the use, through incorporation by reference in the above-mentioned Information Circular, of our report dated March 31, 2025 to the shareholders of the Company on the following consolidated financial statements:

• Consolidated statements of financial position as at November 30, 2024 and 2023;
• Consolidated statements of loss and comprehensive loss, cash flows and changes in shareholders' deficiency for each of the years ended November 30, 2024 and 2023 and the material accounting policy information and other explanatory information.

We report that we have read the Information Circular and all information therein and have no reason to believe that there are any misrepresentations in the information contained therein that are derived from the financial statements upon which we have reported or that are within our knowledge as a result of our audit of such financial statements. We have complied with Canadian generally accepted standards for an auditor's consent to the use of a report of the auditor included in an offering document, which does not constitute an audit or review of the prospectus as these terms are described in the CPA Canada Handbook – Assurance.

This letter is provided solely for the purpose of assisting the stock exchange to which it is addressed in discharging its responsibilities and should not be used for any other purpose.

Yours very truly,

Dmcl.

DALE MATHESON CARR-HILTON LABONTE LLP

CHARTERED PROFESSIONAL ACCOUNTANTS

Vancouver	Surrey	Tri-Cities	Victoria
1500 – 1140 West Pender St.
Vancouver, BC V6E 4G1
604.687.4747	200 – 1688 152 St.
Surrey, BC V4A 4N2
604.531.1154	700 – 2755 Lougheed Hwy
Port Coquitlam, BC V3B 5Y9
604.941.8266	320 – 730 View St.
Victoria, BC V8W 3Y7
250.800.4694