Metallum and Pays Plat First Nation ("PPFN") have signed a Negotiation Agreement (the "Agreement") to advance the development of the Superior Lake Zinc Project

This Agreement outlines the negotiating terms for the Impact Benefit Agreement ("IBA") which is the final agreement required before mine development commences

The Company and PPFN aim to finalize the IBA during 2H2022

Vancouver, BC – TheNewswire – June 14, 2022 - Metallum Resources Inc. (TSXV:MZN) ("Metallum" or the "Company") and Pays Plat First Nation ("PPFN") are proud to announce the signing of a Negotiation Agreement (the "Agreement") for the Superior Lake Zinc Project ("Project") in Ontario, Canada .

PPFN is the primary First Nation Group where the Project is located. The signing of this Agreement with PPFN is a major milestone, as it progresses regulatory approval for early-stage development works, and more importantly, outlines the timeline and key terms for the Impact Benefit Agreement ("IBA").  Both the Company and PPFN aim to have an IBA agreed and signed later this year. The IBA is a formal, written agreement that helps to manage the predicted impacts associated with an industrial development occurring on traditional lands and to secure economic benefits for neighbouring aboriginal communities affected by that development.

In addition, both the Company and PPNF jointly met with The Honourable Patty Hadju, Minister of Indigenous Services of Canada and Member of the Parliament for Thunder Bay North (the Project's jurisdiction), to discuss the Project development, indigenous involvement, and current Permitting Process.  The Company will continue to keep the market updated as these discussions progress.

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Image 1:  The Honourable Patty Hadju, PPFN Chief Mushquash and Metallum's CEO Kerem Usenmez

President and CEO, Kerem Usenmez commented , " Metallum has built a strong relationship with the PPFN and the local communities over the past year, and signing this Agreement solidifies the support and our collaboration to move our exciting Project forward.

We very much value the support of PPFN for the development of the Superior Lake Project. We are proud to be partners with the PPFN and look forward to ongoing collaboration as we move development in the future."

Pays Plat First Nation Chief Mushquash commented , " This Negotiation Agreement sets a strong foundation for us to work collectively with Metallum on a number of economic opportunities. We look forward to the advancement of this Agreement into an IBA stage as the Project develops."

Metallum also continues to work closely with the town of Schreiber, which is located 29 kilometers from the Project.  The Company met with the Mayor, Kevin Mullins, as well as Municipality Staff to discuss the Project status.

Schreiber Mayor Kevin Mullins commented, " We have the skilled labour, railway station and most of the supporting infrastructure very close to the Project. We are very excited about the future development of the Superior Lake Project and will support Metallum to advance this Project into production."

President and CEO, Kerem Usenmez commented , "Having local support is crucial for any development Project. The local support has been very strong and encouraging for us. We look forward to working together with all the local communities and advancing quickly."

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Image 2: Metallum CEO Kerem Usenmez with Schreiber Mayor Kevin Mullins and Nathan Dias, from City of Schreiber Mayor's office

ON BEHALF OF THE BOARD

Kerem Usenmez, President & CEO

Tel: 604-688-5288;  Fax: 604-682-1514

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-looking statements and include, without limitation, statements about the Feasibility Study, the updated economics for the Project, and the Company's development plans for the Project. Often, but not always, these forward looking statements can be identified by the use of words such as "estimate", "estimates", "estimated", "potential", "open", "future", "assumed", "projected", "used", "detailed", "has been", "gain", "upgraded", "offset", "limited", "contained", "reflecting", "containing", "remaining", "to be", "periodically", or statements that events, "could" or "should" occur or be achieved and similar expressions, including negative variations.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, the uncertainties inherent in the Feasibility Study and the updated economics of the Project; whether exploration and development of the Company's properties will proceed as planned; changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; risks associated with COVID-19 including adverse impacts on the world economy, exploration and development efforts and the availability of personnel; and such other risks detailed from time to time in the Company's quarterly and annual filings with securities regulators and available under the Company's profile on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.

Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: the accuracy of the Feasibility Study and the updated economics of the Project; that the Company's stated goals and planned exploration and development activities will be achieved; that there will be no material adverse change affecting the Company or its properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.

Metallum Resources (MZN.TSXV) owns 100% of the Superior Lake Zinc and Copper Project in Ontario, Canada.  The Project ranks as the highest grade zinc project in North America with a resource of 2.35 Mt at 17.9% Zn, 0.9% Cu, 0.4 g/t Au and 34 g/t Ag.

The Company completed a positive Feasibility Study that highlights the Project will rank in the lowest quartile of operating costs (C1 costs – C$0.44 / lb; AISC C$0.51 / lb).  These low costs driven by the high grade of the Project drive robust economic returns. The majority of permits and licenses are in place allowing for a quick re-development following a Final investment Decision.

For further details about the Company and the Superior Project, please visit the Company's website at metallumzinc.com .

Copyright (c) 2022 TheNewswire - All rights reserved.

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Market experts believe that global zinc demand is set to outpace production growth in 2021. The zinc market could see upwards of 2.9 percent to 14 million tonnes in production increases as producers worldwide continue to ramp up output in the face of surging demands.

Global zinc production continues to struggle to meet increasing demand. In 2019, 12.8 million tons of zinc was mined, with 33.7 percent of that coming from China. Companies operating advanced, high-quality zinc production assets in the West present investors with an opportunity to satisfy growing global demand without the same level of exposure to geopolitical risk.

One such company is Metallum Resources (TSXV:MZN), which acquired the Superior Lake zinc project from Superior Lake Resources (ASX:SUP). Superior Lake has a prospective JORC-compliant bankable feasibility study. Highlights from the report include an IRR of 31 percent (pre-tax), 9-year mine life with current reserve/resources.

The Superior Lake zinc project consists of two high-grade resource targets: Winston Lake and Pick Lake. Winston Lake produced historic average recoveries at 93.7 percent zinc and 78.3 percent copper, 37 percent Ag and 38 percent Au with approximately 900 Mlbs Zn, 53.7 Mlbs Cu, 1,172 koz Ag, 51.17 koz Au. Likewise, Pick Lake hosts highlighted drilling results of zinc grades up to 40.6 percent over 0.51m and 30.47 percent over 13.4m.

With most major permitting in place, the company plans to commence an extensive drilling campaign and further its established exploration programs to identify additional targets across the Superior Lake property. Existing infrastructure and historic revitalization of the project present the company with fast-tracked and lower-cost development conditions.

Metallum Resources has advantageous positioning in the space of zinc developer valuation. Compared to other players in the market, Metallum Resources presents an excellent CAD$21 million market cap with a robust post-transaction share distribution portfolio. The company has no material debt.

Metallum Resources’ management team has a proven track record of bringing shareholder value. The company is part of the Gold Group, a winning team of results-driven leaders with world-class expertise in mine building, resource expansion and established stakeholder value.

The Superior Lake zinc project sits approximately 200 kilometers east of Thunder Bay, Ontario. The project covers 175 kilometers squared and consists of two deposits – Winston Lake and Pick Lake. The property leverages excellent existing infrastructure, including all-weather access roads, transmission lines, tailings dam and over 180,000 meters of surface and undergrounding drilling.

Both highly prospective VMS deposits host very rich zinc and other metals mineralization, which presents Metallum with exceptional exploration and yield possibilities. The project boasts a good 43-101 indicated resource of 2.07 million tonnes at 17.9 percent zinc, 0.8 percent copper, 0.4g/t gold and 33.6 g/t silver and inferred resources at 0.27 million tonnes at 16.2 percent zinc, 1.0 percent copper, 0.3 g/t gold and 37.2 g/t silver. Pick Lake recoveries stand at 97 percent zinc and 54 percent concentrate returned from a test stope conducted before acquisition by Metallum.

Past work on the project includes successful exploratory testing, soil sampling and monitor surveying to measure dilution processing. In 2019, the project saw downhole EM surveying and the completion of three significant drill holes by Superior Lake Resources. This drill campaign adds to the 1,812 surface and underground drill holes in the asset’s database.

Over the next 12 months, the company plans to increase the zinc resources across the asset, dewater the mine and leverage its developmental momentum in advancing potential production. Metallum remains excited for the future of the Superior Lake zinc project and the economic growth that it’s projected to experience.

Superior Lake Resources released a JORC-compliant (but not NI 43-101 compliant) Bankable Feasibility Study for the Superior Lake Zinc Project in 2019. Highlights from the report include an IRR of 31 percent (pre-tax), 9-year mine life with current reserve/resources. Metallum Resource intends to upgrade this study in 2021.

Kerem Usenmez is a geological engineer and a mining entrepreneur with over 20 years of global experience. He has worked in various technical and leadership roles with Inco, Vale and Amec. Usenmez has been involved in mineral discovery exploration and various VMS deposits and discoveries in Canada, such as Duck Pond NFLD, Bathurst in New Brunswick and Northern Manitoba, working mainly in base metals, such as Zinc. Usenmez co-owns Atom Bits, a rapidly growing diamond drilling bit manufacturer in Canada. He is a member of the board of directors of the PDAC and is the co-chair of the Public Affairs Committee.

Kevin Bales has over 20 years of financial reporting experience in the mining and information technology industries. He currently serves as CFO for several public junior exploration companies with operations in Canada, the U.S, Latin America, and Europe. Bales holds a Bachelor of Management degree with a major in accounting.

Robert Middleton is an exploration geoscientist with over 50 years of experience in the mining and exploration industry in more than 40 countries through Canada, United States, Central America, Europe and Africa. He was involved in VMS deposit discoveries and expanding significant deposits such as Hemlo, Flin Flon, and Bell Creek. He worked as an exploration manager with junior and major companies such as Newmont. He holds a mining diploma from the Provincial Institute of Mining in Haileybury, a B.Sc. and M.Sc. in Applied Geophysics from Michigan Technological University. Middleton was named The Prospector of the year in 2008 by the Ontario Prospectors Association and MNDM, won the “Discovery of the year” awards in 2004 and 2001 and holds Lifetime Achievement Award from NWOPA.

Grant Davey is an experienced entrepreneur with 30 years of senior management and operational experience in the development, construction and operation of precious metals, base metals, uranium and bulk commodities around the world. More recently, he has been involved in venture capital investments in several exploration and mining projects and has been instrumental in the acquisition and development of the Honeymoon uranium mine in South Australia, the Panda Hill niobium project in Tanzania, the Superior Lake zinc project in Ontario, the Cape Ray gold project in Newfoundland and the acquisition of the Kaylekera Uranium mine in Malawi from Paladin. He is currently a Director of Cradle Resources Limited (ASX:CXX), Lotus Resources Limited (ASX:LOT), and Frontier Energy (ASX:FTE), and is a member of the Australian Institute of Company Directors (AICD).

Metallum Resources Inc. (TSXV: MZN) (OTCQB: MTLLF is developing a high-grade zinccopper project in Ontario. BTV chats with President & CEO, Kerem Usenmez to learn more.

Metallum Resources Inc.(TSXV: MZN) (OTCQB: MTLLF)

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Discussions with multiple global metal traders and smelters have commenced regarding future offtake for the zinc and copper concentrates to be produced at the Superior Lake Project

Forecasted annual production of 69,819t of Zn and 5,308t of Cu concentrate per annum.

Both the zinc and copper concentrates are of a high quality with favorable grades and minimal deleterious elements (Table 1 and Table 2)

The Project has established transportation routes to North American and international smelters, giving the Project its unique location 30km from an operating rail terminal (Image 1)

The market outlook for zinc is strong, due to declining production from existing primary zinc mines, and increased forecasts on long-term demand driven by decarbonization

May 31, 2022 – TheNewswire - Metallum Resources Inc. (TSXV:MZN) ( "Metallum" or the "Company") is pleased to announce the commencement of discussions with multiple global metal traders regarding future offtake from the Company's Superior Lake Zinc and Copper Project ("Project") in Ontario, Canada.

Preliminary discussions with a number of these groups have indicated a willingness to have offtake linked to additional funding solutions. An offtake related financing is typically in the form of mezzanine debt or concentrate pre-payments.

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Image 1: Location of Zinc smelter in north America and transportation routes

The concentrate produced at Superior Lake can access smelters using existing rail and road infrastructure to North American smelters as well as smelters in Asia, using the Vancouver port. The Thunder Bay port, which is located 214km from the mine gate, will provide access to smelters in Europe. The Project's unique location and access to the Canadian rail and highway network will provide access to Canadian port systems, both East and West coasts, allowing easy access to major smelters around the globe.

Both the Zinc and Copper concentrates are well understood given the Project successfully operated for a decade before closing in 1998 due to sustained low zinc prices. This historical production as well as additional metallurgical test work carried out by SGS Lakefield in Canada (Superior Zinc and Copper Project Feasibility Study N.I. 43-101 compatible, DRA – October 2021), provides detailed information and certainty to these groups. Detailed information regarding the concentrate grades and quality can be found in Table 1 below.

Table 1: Historical Winston Lake Detailed Zinc Concentrate Specifications

Table 1: Historical Winston Lake Detailed Copper Concentrate Specifications

The news release has been reviewed and approved by Andrew Tims, P.Geo., Exploration Manager of the Company, and a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects .

ON BEHALF OF THE BOARD

Kerem Usenmez, President & CEO

Tel: 604-688-5288;  Fax: 604-682-1514

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-looking statements and include, without limitation, statements about the estimated economics of the Project, potential offtake related financing, and the Company's development plans for the Project. Often, but not always, these forward looking statements can be identified by the use of words such as "estimate", "estimates", "estimated", "potential", "open", "future", "assumed", "projected", "used", "detailed", "has been", "gain", "upgraded", "offset", "limited", "contained", "reflecting", "containing", "remaining", "to be", "periodically", or statements that events, "could" or "should" occur or be achieved and similar expressions, including negative variations.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, the uncertainties inherent in the estimated economics of the Project, and whether the Company will arrange any offtake related financing; whether exploration and development of the Company's properties will proceed as planned; changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; risks associated with COVID-19 including adverse impacts on the world economy, exploration and development efforts and the availability of personnel; and such other risks detailed from time to time in the Company's quarterly and annual filings with securities regulators and available under the Company's profile on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.

Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: the accuracy of the estimated economics of the Project; that the Company will arrange offtake related financing; that the Company's stated goals and planned exploration and development activities will be achieved; that there will be no material adverse change affecting the Company or its properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.

Metallum Resources (MZN.TSXV ) owns 100% of the Superior Lake Zinc and Copper Project in Ontario, Canada.  The Project ranks as the highest-grade zinc project in North America with a resource of 2.35 Mt at 17.9% Zn, 0.9% Cu, 0.4 g/t Au and 34 g/t Ag.

The Company completed a positive Feasibility Study that highlights the Project will rank in the lowest quartile of operating costs (C1 costs – C$0.44 / lb; AISC C$0.51 / lb).  These low costs driven by the high grade of the Project drive robust economic returns. The majority of permits and licenses are in place allowing for a quick re-development following a Final investment Decision.

For further details about the Company and the Superior Project, please visit the Company's website at metallumzinc.com .

Click Image To View Full Size

Copyright (c) 2022 TheNewswire - All rights reserved.

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Updated assumptions from the NI 43-101 Feasibility Study have increased the Project's Pre-tax NPV to C$383.1m (previously - C$175.8m) and Post-tax NPV to C$287m (previously - $126.3m)

The average EBITDA over the mine life increased to C$102m per annum (previously $67.6m); peaking at C$168m during the fourth year of production

The Zinc price has increased substantially since the October 2021 Feasibility Study .  The fundamentals for sustained higher prices continue to strengthen due to multiple factors, including zinc's importance in the renewable energy industry

The Company is fully funded until a Final Investment Decision (FID) following the recent C$5.2m capital raising

May 17, 2022 – TheNewswire - Metallum Resources Inc. (TSXV:MZN) ( "Metallum" or the "Company") is pleased to announce updated economics for its Superior Lake Zinc and Copper Project ("Project") in Ontario, Canada.  Based on updated assumptions 1 , the Project's NPV 8 Pre-tax has increased to C$383m (previously - C$175.8m) whilst the average EBITDA 3 has increased to C$102m per annum (previously C$67.6m).  Image 1 illustrates the Project's Pre and Post tax NPV 8% returns based on a number of zinc price scenarios.

Image 1: NPV 8 under a range of different zinc price assumptions 1,2,4

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The significant improvement in prices for the suite of commodities produced at the Project (zinc, copper, silver and gold), has driven the Project's improved returns compared to the Feasibility Study (Table 1 below).  Whilst zinc, the major commodity produced at the Project, price has slightly fallen from its recent a 15-year high (US$2.05 / lb) achieved during April 2022, the fundamentals for the sector are extremely positive due to limited new supply, whilst a significant increase in demand, largely driven by the importance of zinc in multiple renewable energy industry (EV (electric vehicles), solar power generation and wind energy).

1 - Updated commodity prices: Zn: US$1.65/lb, Cu: US$4.22/lb, Au: US$ 1,845/oz, Ag: US$21.6/oz ; 2 -  8% discounted NPV pre-tax; 3 -  Life of mine average EBITDA. Total project EBITDA is $870m; 4 The Feasibility Study was conducted using a Zinc price of US$1.22/lb (US$2,700/t), Copper Price of US$3.31/lb (US$7,300/t), Silver Price of US$21.00/oz, and Gold price of US$1,635/oz.

Image 2: Forecasted zinc demand used on renewables industry 5

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5 - Source: CRU, IRENA, Teck

Given the strengthening market fundamentals for the Project, the Company is advancing the Project through a number of critical steps prior to making a Final Investment Decision (FID) in the future.  Updates on these initiatives will be released as work is advanced.

The Company is in an excellent financial position following the recent C$5.2m capital raising that sees the Company fully funded until an FID is made.  A summary of the key inputs and outputs in the Feasibility Study and updated returns are highlighted below.

Table 1: Updated Feasibility Assumptions and Outputs

1 - Updated commodity prices: Zn: US$1.65/lb, Cu: US$4.22/lb, Au: US$ 1,845/oz, Ag: US$21.6/oz ;

2 - The Feasibility Study was conducted using a Zinc price of US$1.22/lb (US$2,700/t), Copper Price of US$3.31/lb (US$7,300/t), Silver Price of US$21.00/oz, and Gold price of US$1,635/oz.

The Feasibility Study dated effective October 13, 2021 was prepared by DRA Global Limited, along with contributions from other prominent engineering companies. The detailed technical report is available on SEDAR under the Company's profile. The technical report is also available on Metallum's website at metallumzinc.com.

The news release has been reviewed and approved by Andrew Tims, P.Geo., Exploration Manager of the Company, and a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects .

ON BEHALF OF THE BOARD

Kerem Usenmez, President & CEO

Tel: 604-688-5288;  Fax: 604-682-1514

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-looking statements and include, without limitation, statements about the Feasibility Study, the updated economics of the Project, and the Company's development plans for the Project. Often, but not always, these forward looking statements can be identified by the use of words such as "estimate", "estimates", "estimated", "potential", "open", "future", "assumed", "projected", "used", "detailed", "has been", "gain", "upgraded", "offset", "limited", "contained", "reflecting", "containing", "remaining", "to be", "periodically", or statements that events, "could" or "should" occur or be achieved and similar expressions, including negative variations.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, the uncertainties inherent in the Feasibility Study and the updated economics of the Project; whether exploration and development of the Company's properties will proceed as planned; changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; risks associated with COVID-19 including adverse impacts on the world economy, exploration and development efforts and the availability of personnel; and such other risks detailed from time to time in the Company's quarterly and annual filings with securities regulators and available under the Company's profile on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.

Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: the accuracy of the Feasibility Study and the updated economics of the Project; that the Company's stated goals and planned exploration and development activities will be achieved; that there will be no material adverse change affecting the Company or its properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.

Metallum Resources (MZN.TSXV) owns 100% of the Superior Lake Zinc and Copper Project in Ontario, Canada.  The Project ranks as the highest grade zinc project in North America with a resource of 2.35 Mt at 17.9% Zn, 0.9% Cu, 0.4 g/t Au and 34 g/t Ag.

The Company completed a positive Feasibility Study that highlights the Project will rank in the lowest quartile of operating costs (C1 costs – C$0.44 / lb; AISC C$0.51 / lb).  These low costs driven by the high grade of the Project drive robust economic returns. The majority of permits and licenses are in place allowing for a quick re-development following a Final investment Decision.

For further details about the Company and the Superior Project, please visit the Company's website at metallumzinc.com .

Copyright (c) 2022 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

April 21, 2022 TheNewswire - Vancouver, British Columbia: Metallum Resources Inc. (TSXV:MZN) is pleased to report that it has closed its previously announced non-brokered private placement with the issuance of 87,371,674 units at $0.06 each, for gross proceeds of $5,242,300.  Each unit consists of one common share of the Company and one warrant which entitles the holder to purchase one additional common share at $0.14 for two years from closing.

In connection with the financing, the Company paid finder's fees totaling $245,400 cash and issued a total of 4,090,000 warrants which have the same terms as described above.  All common shares and warrants issued on closing are subject to a resale restriction until August 22, 2022.

As a result of participation in the placement by insiders of the Company, the placement is considered to be a "related party transaction" within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 ("MI 61-101"). The Company has relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(a) of MI 61-101.

Funds raised from the financing are intended to be used for general working capital, and to accelerate the development of the Company's Superior Lake Zinc and Copper Project.

Adam Kiley has been appointed a Director of the Company, in the place of David Cass who has stepped down from the Board.

Adam Kiley has over 18 years' experience in the mining sector with a depth of experience in providing corporate and financial advisory services.  Adam holds a Bachelor of Commerce from Curtin University in Western Australia. He is also currently a corporate development executive with Lotus Resources Limited (ASX:LOT) and Frontier Energy (ASX:FTE).

Kerem Usenmez, President and CEO, commented: "I am very pleased in closing this over-subscribed financing, as we continue to develop our high-grade Zinc and Copper project. This new capital will keep the development of our project on schedule. We are excited to be in a position to continue advancing the Superior Lake Project and committed to providing materials for the green future and a sustainable economy, in line with Ontario's recently announced Critical Minerals Strategy. This project has two of the critical minerals recognized by Canada and the United States, at a very high grade. We look forward to an incredibly promising future in Ontario as we continue to rapidly move into development. The project location and the existing infrastructure, along with access to clean energy, proximity to state of the art logistics, and a motivated and skilled workforce make this an exciting project, with the right timing, as we see commodities becoming more and more in demand. I also thank David for his invaluable contributions to the Company thus far, and welcome Adam to the Board as we move our company and the Project into this advanced stage."

Simon Ridgway, Chairman of the Board, commented: "We would like to thank both existing and new shareholders for the strong support they provided in the recent capital raising.  We are now in an exceptional strong position to advance our Superior Lake Zinc Project, one of the highest grade zinc projects globally, at a time when the zinc price is near all time record highs.

I would also like to acknowledge my appreciation for the many years of service David has provided to Metallum, including his contributions to the Board.  We wish him well .  We welcome Adam Kiley to the Metallum Board and look forward to benefitting from his extensive corporate development experience."

Metallum Resources (TSXV:MZN) is developing its Superior Lake Zinc and Copper Project located in Ontario, Canada which has been advanced to the feasibility stage. For more information on the project please visit metallumzinc.com .

Metallum is a member of the Gold Group of companies, led by Simon Ridgway.  For further details about the Company and the Superior Project, please visit the Company's website at metallumzinc.com .

ON BEHALF OF THE BOARD

President & Chief Executive Officer

Kerem Usenmez, President & CEO

Tel: 604-688-5288;  Fax: 604-682-1514

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-looking statements and include, without limitation, statements about the use of the financing proceeds. Often, but not always, these forward looking statements can be identified by the use of words such as "estimate", "estimates", "estimated", "potential", "open", "future", "assumed", "projected", "used", "detailed", "has been", "gain", "upgraded", "offset", "limited", "contained", "reflecting", "containing", "remaining", "to be", "periodically", or statements that events, "could" or "should" occur or be achieved and similar expressions, including negative variations.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, whether the financing proceeds will be spent as planned; whether exploration and development of the Company's properties will proceed as planned; changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; risks associated with COVID-19 including adverse impacts on the world economy, exploration efforts and the availability of personnel; and such other risks detailed from time to time in the Company's quarterly and annual filings with securities regulators and available under the Company's profile on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.

Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: that the financing proceeds will be spent as planned; that the Company's stated goals and planned exploration and development activities will be achieved; that there will be no material adverse change affecting the Company or its properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.

Copyright (c) 2022 TheNewswire - All rights reserved.

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April 8, 2022 TheNewswire - Vancouver, British Columbia - Metallum Resources Inc. (TSXV:MZN) is pleased to report that its previously announced non-brokered private placement has been oversubscribed and, subject to TSX Venture Exchange approval, has been increased to 87.37 million units at $0.06 each, to raise gross proceeds of up to $5.242 million. Each unit consists of one common share of the Company and one warrant which will entitle the holder to purchase one additional common share at $0.14 for two years from closing.

CPS Capital Group Pty Ltd is acting as a finder in the placement. Funds raised from the financing are intended to be used for general working capital, and to accelerate the development of the Company's Superior Lake Zinc and Copper Project, the highest grade zinc project in North America (see press release dated Oct 14, 2021 ).

This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States or in any other jurisdiction.  The securities referred to in this press release have not been and will not be registered under the U.S. Securities Act and may not be offered or sold without registration under the U.S. Securities Act and all applicable state securities laws or compliance with the requirements of an exemption from such registration.

Metallum Resources (TSXV:MZN) is developing its Superior Lake Zinc and Copper Project located in Ontario, Canada which has been advanced to the feasibility stage. For more information on the project please visit metallumzinc.com .

Metallum is a member of the Gold Group of companies, led by Simon Ridgway.  For further details about the Company and the Superior Project, please visit the Company's website at metallumzinc.com .

ON BEHALF OF THE BOARD

President & Chief Executive Officer

Kerem Usenmez, President & CEO

Tel: 604-688-5288;  Fax: 604-682-1514

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-looking statements and include, without limitation, statements about the proposed financing. Often, but not always, these forward looking statements can be identified by the use of words such as "estimate", "estimates", "estimated", "potential", "open", "future", "assumed", "projected", "used", "detailed", "has been", "gain", "upgraded", "offset", "limited", "contained", "reflecting", "containing", "remaining", "to be", "periodically", or statements that events, "could" or "should" occur or be achieved and similar expressions, including negative variations.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, whether the financing will be completed as planned; whether exploration and development of the Company's properties will proceed as planned; changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; risks associated with COVID-19 including adverse impacts on the world economy, exploration efforts and the availability of personnel; and such other risks detailed from time to time in the Company's quarterly and annual filings with securities regulators and available under the Company's profile on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.

Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: that the financing will be completed as planned; that the Company's stated goals and planned exploration and development activities will be achieved; that there will be no material adverse change affecting the Company or its properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Copyright (c) 2022 TheNewswire - All rights reserved.

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Fabled Copper Corp. ("Fabled Copper" or the "Company") (CSE:FABL; FSE:XZ7) announces additional results of 2021 surface field work on its Muskwa Copper Project. See Figure 1 below

Figure 1 - General Property Location

The Project is comprised of the Neil Property, the Toro Property and the Bronson Property located in northern British Columbia. See Figure 2 below.

Peter Hawley, President, CEO reports; " The Bronson property comprises 4 mineral tenures covering approximately 2,524.6 hectares where the key objectives of the 2021 work program were to:

Figure 3 - Bronson Property, Book 6 Location

A total of 56 person days were spent on the property with 199 rock samples taken on 7 areas prospects which are the; Book 6, Book 9, B00k 10, 428 Central, 428 South, PJ105 and PJ100. See Figure 4 below.

Figure 4 - Bronson Property, Area of 2021 Prospecting

We previously reported on the Book 6 property where an unmanned Aerial Vehicle (UAV) photogrammetry survey was conducted over the Book 6 vein target resulting in

The data generated was used for in-field targeting of visual copper occurrences on the color orthophoto due to the 3 cm resolution which led to field examination of the mineralization and the sampling of the Book 6 vein where a total of 113 samples were collect as a first pass evaluation. Press link here to view Bronson Property Book 6 Vein drone flight mission.

The Book 6 veining is exposed striking southward along a relatively flat-lying valley at elevations of 1,988 to 1,912 meters. A total of 113 rock samples, 11 grab samples, (7 float samples and 95 chip samples), were collected along the exposed veining and in the surrounding areas. See Photo 1 below.

Photo 1 - Bronson Property, Book Vein as Seen by Helicopter

Two veins, labelled the Main & the West, were systematically chip sampled at various locations south along the veining. Each section was chained (measured) southward from sample D-723035 at the north end of the mineralized Main Vein. The section assays and averages are presented in Table 1 below.

The Main Vein was chip sampled along 68 meters, at widths of 0.50 to 1.60 m. (sections 0 to 68 meters South). The Main Vein strikes 177 to 181 degrees through sheared sediments and dips steeply to the west. At its southern end where it is intruded by a northwesttrending dyke, the vein slightly bends to the east-southeast. Chalcopyrite concentrations of up 10% were observed in the samples, but generally the chalcopyrite content is around 1%. See Figures 5, 6 below.

Figure 5 - Bronson Property, Book 6 - Northern Sample Locations and Copper Values

Figure 6 - Bronson Property, Book 6 - Southern Sample Locations and Copper Values

Twelve sections were chip sampled (D-723035-042 & 044-055) along 68 meters. Nine of the 12 sections averaged 0.13 to 0.47% Cu, across widths of 0.65 to 1.40 meters.

Three sections averaged 2.10 to 6.40% Cu:

Four individual chip samples contained a Cu content of over 1%:

Photo 2 - Bronson Property, Book 6 North Mineralized Vein

The mineralized West Vein is exposed at numerous locations along a length of approximately 400 meters. This vein strikes 175 to 183degrees and dips 85 degrees to the west, is 0.20 to 3.60 meters wide and contains up to 75% massive chalcopyrite & 2% bornite.Galena concentrations of

Photo 3 - Bronson Property, Book 6 North Mineralized Vein

Of the 34 sections sampled, 13 sections, collected across widths of 0.20 to 4.70 meters, contained > 1% Cu.

Table 1 - Bronson Property, Book 6 Copper Occurrence

Sections of interest with Cu % / widths include, See Photo 4 below:

Photo 4 - Bronson Property, Book 6 North Mineralized Vein Sections of Interest

Eighteen individual chip samples assayed higher than 1% Cu. Of the 56 chip samples taken, 7 (D-723062, 90,107,108,109,117 and 119)were collected from sheared sediments surrounding the vein. Samples D-723117 & 119, of sheared sediments, on sections 407S &409S, contained 0.43% Cu across 1.10 meter and 0.88% Cu across 0.50 meter, respectively.

Lead and Zinc amounts of over 1% and silver amounts over 10 ppm (g/t) were observed in samples:

Along strike, 30 to 90 meters north of the Main Vein and 30 to 150 meters south of the West Vein, non- mineralized exposures ofquartz-carbonate veining were prospected. In the north, 5 samples (D-723026-028 & 031-032) were collected and to the south 4 samples (D-723124-127) were taken. All these samples assayed

An exposure of irregular shaped, mineralized (up to 10% chalcopyrite), quartz-carbonate veining was discovered at elevations of 1,871-1,873 meters, 270 meters southeast of the south end of the West Vein. The veining appears to be up to 3.60 meters in width. See Photo 5 below

Photo 5 - Bronson Property, Book 6 West Mineralized Vein

Nine chip samples (D-723128-128 & 131-137) were collected at various orientations, across 3 sections of veining and sediments. Sample D-723131 of vein across 0.80 meters, contained the highest Cu content of 5.42%. The remaining samples assayed

North and northeast of the Main Vein, numerous, mainly northwest striking tension veins, were sampled. The veins are not mineralized and the 8 samples collected (D-723019-025 & 030 assayed low in Cu,

Mineralized (1% chalcopyrite) float sample (D-723035) collected in a creek, at the south end of the Main Vein assayed 2.45% Copper.

All samples taken were photographic and GPS location taken plus a metal sample tag left in place for future reference if required. All this data plus the assay results were geotagged and placed in a .kml /.kmz file for use such as google earth for easy reference. See Photo 6 below.

Photo 6 - Bronson Property, Book 6 Geotagged data

Additional releases on the geophysics and structural interpretation results of the Bronson Property, Book 6 copper occurrence will be forth coming in the following weeks.

Analytical results of sampling reported by Fabled Copper Corp represent rock samples submitted by Fabled Copper Corp staff directly to ALS Chemex, Vancouver, British Columbia Canada. Samples were crushed, split, and pulverized as per ALS Chemex method PREP-31, then analyzed for ME-ICP61 33 element package by four acid digestion with ICP-AES Finish. ME-GRA21 method for Au and Ag by fire assay and gravimetric finish, 30g nominal sample weight.

For samples triggering precious metal over-limit thresholds of 10 g/t Au or 100 g/t Ag, the following is being used:

Au-GRA21 Au by fire assay and gravimetric finish with 30 g sample.

Ag-GRA21 Ag by fire assay and gravimetric finish.

Fabled Copper Corp. monitors QA/QC using commercially sourced standards and locally sourced blank materials inserted within the sample sequence at regular intervals.

Fabled Copper is a junior mining exploration company. Its current focus is to creating value for stakeholders through the exploration and development of its existing copper properties located in northern British Columbia. The Muskwa Project comprises a total of 76 claims in two non-contiguous blocks and totals approximately 8,064.9 hectares, located in the Liard Mining Division in northern British Columbia.

Mr. Peter J. Hawley, President and C.E.O. Fabled Copper Corp. Phone: (819) 316-0919 peter@fabledcopper.org

For further information please contact:

The technical information contained in this news release has been approved by Peter J. Hawley, P.Geo. President and C.E.O. of Fabled, who is a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.

Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, that the Company's financial condition and development plans do not change as a result of unforeseen events and that the Company obtains any required regulatory approvals.

Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to: impacts from the coronavirus or other epidemics, general economic conditions in Canada, the United States and globally; industry conditions, including fluctuations in commodity prices; governmental regulation of the mining industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; competition for and/or inability to retain drilling rigs and other services; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; volatility in market prices for commodities; liabilities inherent in mining operations; changes in tax laws and incentive programs relating to the mining industry; as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at www.sedar.com. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.

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EV Nickel Inc. (TSXV:EVNI) ("EVNi" or the "Company") is pleased to announce a non-brokered private placement (the "Offering") for gross proceeds of up to C$2,000,000 from the sale of any combination of flow-through units of the Company (each, a "FT Unit") at a price of C$0.18 per FT Unit and FT Units to be sold to charitable purchasers (each, a "Charity FT Unit") at a price of C$0.24 per Charity FT Unit. The Proceeds of the Offering will be primarily used towards Phase 3 exploration on the Company's Langmuir Project

Each FT Unit and Charity FT Unit will consist of one common share of the Company to be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada) (each, a "FT Share") and one half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one common share of the Company (each, a "Warrant Share") at a price of C$0.25 for a period of 24 months following the closing date of the Offering.

The Company intends to use the net proceeds raised from the Offering for the exploration of the Company's Shaw Dome Project located south of Timmins in Ontario. Proceeds from the sale of FT Shares will be used to incur "Canadian exploration expenses" as defined in subsection 66.1(6) of the Income Tax Act and "flow through mining expenditures" as defined in subsection 127(9) of the Income Tax Act. Such proceeds will be renounced to the subscribers with an effective date not later than December 31, 2022, in the aggregate amount of not less than the total amount of gross proceeds raised from the issue of FT Shares.

The FT Shares and Warrant Shares will be subject to a hold period expiring four months and one day from their date of issuance. A finder's fee may be paid on a portion of the proceeds from the Offering. Closing of the Offering is anticipated to occur on or before June 29, 2022 and is subject to customary closing conditions including, but not limited to, the receipt of applicable regulatory approvals, including the approval of the listing of the FT Shares and Warrant Shares on the TSX Venture Exchange.

Finders' fees may be payable in connection with the Offering and those qualified persons involved as finders will receive a cash fee of up to 7% of the proceeds raised and such number of common share purchase warrants equal to up to 7% of the total number of FT Unitsor Charity FT Units sold, as applicable, in relation to subscribers introduced by any particular finder.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or any applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. persons," as such term is defined in Regulation S promulgated under the U.S. Securities Act, absent registration or an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

EV Nickel's mission is to accelerate the transition to clean energy. It is a Canadian nickel exploration company, focussed on the Shaw Dome area, south of Timmins, Ontario. In addition to extensive historic production, the Shaw Dome area is home to the Langmuir W4 Zone, the basis of a 2010 historical estimate of 677K tonnes @ 1.00% Ni, ~15M lbs of Class 1 Nickel. EV Nickel plans to grow and advance a Clean Nickel TM business, targeting the growing demand for Class 1 Nickel from the electric vehicle battery sector. EV Nickel has more than 30,000 hectares to explore and has identified more than 100km of favourable strike length.

This press release contains forward-looking information. Such forward-looking statements or information are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-looking information may be identified by words such as "proposed", "expects", "intends", "may", "will", and similar expressions. Forward-looking statements or information are based on a number of factors and assumptions which have been used to develop such statements and information, but which may prove to be incorrect. Although EV Nickel believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because the Company can give no assurance that such expectations will prove to be correct. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, changes in business plans and strategies, market conditions, share price, best use of available cash, the ability of the Company to raise sufficient capital to fund its obligations under various contractual arrangements, to maintain its mineral tenures and concessions in good standing, and to explore and develop its projects and for general working capital purposes, changes in economic conditions or financial markets, the inherent hazards associated with mineral exploration, future prices of metals and other commodities, environmental challenges and risks, the Company's ability to obtain the necessary permits and consents required to explore, drill and develop its projects and if obtained, to obtain such permits and consents in a timely fashion relative to the Company's plans and business objectives, changes in environmental and other laws or regulations that could have an impact on the Company's operations, compliance with such laws and regulations, the Company's ability to obtain required shareholder or regulatory approvals, dependence on key management personnel, natural disasters and global pandemics, including COVID-19 and general competition in the mining industry. These risks, as well as others, could cause actual results and events to vary significantly. The forward-looking information in this press release reflects the current expectations, assumptions and/or beliefs of EV Nickel based on information currently available to the Company. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or expressly qualified by this cautionary statement.

For further information, visit www.evnickel.com

Or contact: Sean Samson, Chief Executive Officer at samson@evnickel.com.

EV Nickel Inc. 200 - 150 King St. W, Toronto, ON M5H 1J9 www.evnickel.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release.

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Usha Resources Ltd. ("USHA" or the "Company") (TSXV: USHA) (OTCQB: USHAF) (FSE: JO0) is pleased to report that, further to its previous news releases (see news releases dated April 4, 2022 May 16, 2022 and May 18, 2022 ) and subject to the approval of the TSX Venture Exchange (the " Exchange "), it has closed its final tranche of its non-brokered private placement (the " Private Placement ") issuing an additional 4,512,007 units (each a " Unit ") at a price of $0.30 per Unit for total gross proceeds of $1,353,602 . In total, USHA has raised gross proceeds of $2,895,401 in all four tranches.

Deepak Varshney , CEO of Usha Resources stated: "Given the current market conditions, completion of this oversubscribed placement speaks to the strong demand and growing confidence in our team, our Lithium, Gold-Copper and Nickel projects and future vision for where we intend to take this Company. We are very pleased to welcome many new subscribers in this financing, including our latest institutional investor, and thank our existing shareholders who participated for their on-going support. With a well-funded treasury, USHA is positioned to execute at each of our projects and we look forward to a busy and productive field season."

Each Unit issued consists of one common share (a " Share ") in the capital of the Company and one-half of one transferable Share purchase warrant (each whole warrant, a " Warrant ") with each whole Warrant exercisable at $0.45 per Share for a period of 2 years from the date of closing (the " Expiry Date ").

In connection with the final tranche of the Private Placement, the Company paid finders' fees of $7,920 cash and 26,400 non-transferable finder warrants (the " Finder Warrants ") to PI Financial Corp., $1,800 cash and 6,000 Finder's Warrants to Leede Jones Gable Inc., and $4,208.02 cash and 14,027 Finder's Warrants to Research Capital Corporation. The Finder's Warrants are exercisable on the same terms as the Warrants issued in the Private Placement and were issued in accordance with applicable securities laws and Exchange Policy.

All securities issued in the fourth tranche of the Private Placement are subject to the Exchange hold period, plus a hold period of four months and one day following the closing dates of the Private Placement expiring on October 15, 2022 .

The proceeds raised under the Private Placement will be used for working capital and general corporate purposes including:

Usha Resources Ltd. is a North American mineral acquisition and exploration company focused on the development of quality battery and precious metal properties that are drill-ready with high-upside and expansion potential. Based in Vancouver, BC , Usha's portfolio of strategic properties provides target-rich diversification and consist of Jackpot Lake, a lithium project in Nevada ; Nicobat, a nickel‑copper‑cobalt project in Ontario ; and Lost Basin, a gold-copper project in Arizona . Usha trades on the TSX Venture Exchange under the symbol USHA, the OTCQB Exchange under the symbol USHAF and the Frankfurt Stock Exchange under the symbol JO0.

"Deepak Varshney" CEO and Director

For further information: please call Tyler Muir , Investor Relations, at 1-888-772-2452, email tmuir@usharesources.com , or visit www.usharesources.com .

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements.

This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

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Azarga Metals Corp. ("Azarga Metals" or the "Company") (TSXV:AZR) is pleased to announce that it has closed the agreement (the "Agreement") with Baker Steel Resources Trust Limited ("BSRT") announced on April 19, 2022. Pursuant to the Agreement, Azarga Metals has granted BSRT the option to acquire Azarga Metal's Unkur project (the "Unkur Option") until December 31, 2023 (the "Unkur Option Period"), after which the Unkur Option will automatically expire

Upon closing the Agreement, BSRT exercised its right to convert the US$3.5 million loan (the "Loan") made under the secured convertible loan facility (the "Loan Agreement") between Azarga Metals and BSRT. The Loan was converted at a fixed Canadian dollar equivalent value of C$4.7 million, with a conversion price of C$0.10 per share for a total issue of 46,925,500 common shares of the Company (the "Shares").

The Unkur Option is exercisable at an exercise price of US$1.00 from the date of termination of the Loan Agreement, being June 14,, 2022 until December 31, 2023, after which, if not previously exercised by BSRT, the Unkur Option will automatically expire.

The Company will use its best efforts (while recognizing that sanctions and other force majeure circumstances may prevent these efforts), to maintain the corporate existence of its subsidiaries and its licences, including the Unkur project, located in the Zabaikalskiy Region of eastern Russia, on a care and maintenance basis during the Option Period.

If the Unkur Option is exercised by BSRT and Unkur is subsequently sold to an arms length third party within 2 years of the date of the exercise of the Unkur Option by BSRT, proceeds from the sale of the Unkur project will be shared between the Company and BSRT based on an agreed upon formula. The proceeds from a sale will be paid to the Company and BSRT as follows: (1) the Company will be reimbursed the cost of care and maintenance until the Unkur Option is exercised, (2) BSRT will be reimbursed the cost of care and maintenance incurred from the date of the Unkur Option exercise to the date of the sale to a third party, (3) BSRT will be paid US$3.5 million and (4) BSRT and the Company will share any residual consideration on an 80%/20% basis respectively.

Pursuant to the Agreement, the Company has granted BSRT a ROFR (right of first refusal) to match any third party offer received by the Company for the Unkur project. The parties agree to use reasonable efforts to work together during the Option Period to find potential buyers for the Unkur project. Gordon Tainton, President and CEO of the Company commented "the co-operation from BSRT to convert the Loan into common shares removes US$3.5 million of debt and improves the financial position of the Company. This debt reduction provides the Company with the ability to further focus its attention on advancing exploration at its 100% owned copper-rich VMS Marg project located near Keno City, Yukon. We look forward to commencing our planned exploration program at Marg this summer."

The Company owns 100% of the high-grade copper-rich VMS Marg project within the Keno Hill Silver District of the Yukon Territory. As previously announced, the Company is reviewing and re-interpreting the historic VTEM database of the airborne geophysical program to be used to refine the drill targets for the Company's planned 2022 exploration program. Geological groundwork is expected to focus on the Marg deposit extensions and the highly prospective Jane mineral occurrence area, which has the potential for another Marg-style deposit. Mineralization at the Marg project remains open along strike, down-dip and down plunge and the geological program should assist the drilling campaign to define a goal of 14 to 15 million tonnes of mineralized material.

Planning for the 2022 exploration program has commenced, with the aim of beginning a geological program in July. An experienced geologist in VMS deposits and a full-service contractor have been engaged to execute and oversee this plan, all subject to funding.

James Pickell, P.Geo., a consultant to Azarga Metals and a Qualified Person as defined by NI 43-101, verified the data disclosed and has reviewed and approved the disclosure contained in this Press Release.

As a result of BSRT exercising its conversion option under the Loan Agreement, BSRT owns in aggregate 58,527,286 Shares, representing an increase of 24.1% from the 8.9% ownership interest that BSRT had prior to the conversion. Following conversion, BSRT owns 33% of the issued and outstanding common shares of the Company.

BSRT also owns 20,440,914 warrants of the Company, each exercisable at C$0.10 per warrant until December 31, 2022. Assuming exercise of these warrants, BSRT would own, in aggregate, 78,968,200 Shares, representing an aggregate ownership interest of 39.9% of the issued and outstanding shares of Azarga (and an increase of 6.9% from its percentage ownership interest following the conversion).

Depending on market conditions and other factors, BSRT may from time to time acquire and/or dispose of securities or Azarga Metals or continue to hold its current position.

A copy of the early warning report required to be filed with the applicable Canadian securities commissions in connection with the conversion will be available under the Company's profile on SEDAR at www.sedar.com and can be obtained by contacting Tino Isnardi at +44 (0) 20 7389 0009.

Baker Steel Resources Trust Arnold House Guernsey GY1 1WA

Azarga Metals Corp. Unit 1 - 15782 Marine Drive White Rock, BC V4B 1E6 Canada

Gordon Tainton, President and CEO

For further information please contact: Doris Meyer, at +1 604 536-2711 ext. 3 or visit www.azargametals.com. The address of the head office of Azarga Metals is Unit 1 - 15782 Marine Drive, White Rock, BC V4B 1E6, British Columbia, Canada.

Neither the TSX Venture Exchange nor its Regulation 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.

This news release contains forward looking statements within the meaning of applicable securities laws. The use of any of the words "ambition", "estimate", "concluded", "offers", "objective", "may", "will", "should", "potential" and similar expressions are intended to identify forward looking statements. In particular, this news release contains forward looking statements concerning the planned 2022 exploration program for the Marg project and the aim of defining 14 to 15 million tonnes of mineralized material. Although the Company believes that the expectations and assumptions on which the forward looking statements are based are reasonable, undue reliance should not be placed on the forward looking statements because the Company cannot give any assurance that they will prove correct. Since forward looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with the state of equity financing markets and the Company's ability to obtain financing to complete the 2022 exploration program and results of future exploration activities by the Company, including the planned 2022 exploration program at the Marg project. Management has provided the above summary of risks and assumptions related to forward looking statements in this news release in order to provide readers with a more comprehensive perspective on the Company's future operations. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward looking statements are made as of the date of this news release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward looking statements, whether as a result of new information, future events or results or otherwise.

News Provided by ACCESSWIRE via QuoteMedia

Midnight Sun Mining Corp. (TSXV: MMA) (OTCQB: MDNGF) (the "Company" or "Midnight Sun") is pleased to report that Zambian-Congo Copperbelt expert, Dr. Simon Dorling, has agreed to accept and maintain an engagement with the Company. Simon has reviewed the data and results obtained by Rio Tinto Mining and Exploration ("Rio Tinto") on Midnight Sun's Solwezi Licences in Zambia and integrated this information with the data created by Midnight Sun and previous operators as well as incorporating recent research in the region to build a comprehensive database and inclusive interpretation of the structural-geological settings for mineralisation for future targeting.

Dr. Dorling's work has generated several new targets and justification to revisit existing prospects on the licences, including the proposal of structural corridors controlling mineralization around both the Mitu discovery area as well as hole MDD-17-15 on the Mitu Trend which measured 4.23% CuEq over 11.6 metres (see the Company's news release dated July 4, 2017). These corridors suggest a fault-control on mineralisation through re-mobilisation into late northeast-trending faults which leave these mineralized areas open along strike.

"I am very pleased that Dr. Dorling has agreed to work with us. He already has a high degree of familiarity with the Solwezi Licences and is an expert in this region," commented Al Fabbro, President & CEO. "Dr. Dorling's integration of the newly collected information, particularly the geochemical and geophysical surveys, into our existing exploration data has formed the basis of a very compelling exploration campaign for Midnight Sun to undertake once we formally receive control of the licences from Rio Tinto. We are well funded and well situated to capitalize on this opportunity, as well as others that may arise from our work in the region."

Rio Tinto's exploration drilling was interrupted by the COVID-19 pandemic and, ultimately, did not achieve the amount of work expected. Rio Tinto generated highly valuable data sets for the project and its future exploration, but, in the Company's view, did not capitalise on the newly collected information. Rio Tinto's drilling completed on the 22 Zone, Dumbwa, and the Mitu Trend have been incorporated into the Company's database and evaluation study ahead of the 2022 work program and drill targets are refined in preparation of Midnight Sun's return to the field, which is anticipated to be in August 2022 and include 4,000-5,000 metres of drilling.

Newly Identified Target - "Crunch Zone"

One of Dr. Dorling's immediate findings, based on a structural interpretation of new high-quality airborne magnetic data, is the identification of a previously undocumented "high strain" structural zone running between the edges of the Kazhiba Dome in the northwest and the Solwezi Dome in the southeast where the Roan strata have heavily been compressed and faulted and abruptly terminate along faults against the basement domes. This wedged fan of tight geological folds and faults links to the orientations and structures documented in the dome underlying First Quantum's Kansanshi Mine (~10 kilometres away) through a succession of sedimentary host rocks. The hypothesis is that the highly folded and possibly faulted strata could provide pathways and traps for concentrating copper-bearing fluids running between these three domes.

Qualified Person: Richard Mazur, P.Geo., a Director of the Company anda Qualified Person under NI 43-101, has reviewed and approved the technical data and contents of this release.

ON BEHALF OF THE BOARD OF Midnight Sun Mining Corp.

Al Fabbro President & CEO

For Further Information Contact: Al Fabbro President & CEO Tel: +1 604 351 8850

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEW RELEASE.

This news release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include, changes in market conditions, unsuccessful exploration results, changes in commodity prices, unanticipated changes in key management personnel and general economic conditions. Mining exploration and development is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/127512

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Aranjin Resources Ltd (TSXV: ARJN) invites you to visit them at Booth #2739 at The Prospectors & Developers Association of Canada Convention (PDAC) at the Metro Toronto Convention Centre (MTCC) on Monday June 13 to Wednesday June 15, 2022.

Aranjin Resources is well on its way to developing a strong copper exploration portfolio in Mongolia, a land of immense mineral wealth, neighbouring the world's largest electric vehicle consumer, primary battery manufacturer, and leader in copper smelting. Aranjin's assets include the highly prospective Sharga Copper Project in the Gobi Altai region of Mongolia, located strategically near the Chinese border.

The World's Premier Mineral Exploration & Mining Convention is the leading convention for people, governments, companies and organizations connected to mineral exploration. In addition to meeting more than 1,100 exhibitors, 2,500 investors and 23,000 attendees in person in 2020, participants could also attend programming, courses and networking events.

The annual convention is held in Toronto, Canada. It has grown in size, stature and influence since it began in 1932 and today is the event of choice for the world's mineral industry. From 2021 it is also offered as an online event.

For more information and/or to register for the conference please visit: https://www.pdac.ca/convention/registration.

We look forward to seeing you there.

Aranjin Resources Ltd Siloni Waraich 4164324920 contact@aranjinresources.com https://aranjinresources.com/

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