November 3, 2017

Vancouver, BC: Metallis Resources Inc. (TSX-V: MTS) (the “Company” or “Metallis Resources”) is pleased to announce that it has retained Lightfoot Geoscience Inc., owned and operated by Dr. Peter C. Lightfoot, PhD., P.Geo.  Dr. Lightfoot will be conducting a comprehensive review and interpretation of geochemical, geophysical and geological data collected by Metallis to evaluate the potential for a magmatic nickel-copper sulphide system at Thunder North, contiguous to the southern and eastern borders of Nickel Mountain.   

Dr. Lightfoot (LightfootGeoscience.ca) brings over 30 years of experience with nickel sulphide deposits including Voisey’s Bay and last year published the first comprehensive textbook on Sudbury ore deposits.  He has also played a key role in Garibaldi Resources’ Nickel Mountain discovery, the first of its kind in the Eskay Camp and the broader Golden Triangle. 

Fiore Aliperti, Metallis President and CEO, commented:  “We’re delighted to retain the services of Dr. Lightfoot to take Thunder North to a new stage of exploration following a very promising and exciting initial investigation this summer.  The nickel potential of this Camp is much greater than originally understood.”  

Thunder North

Based on a similar geological setting as Nickel Mountain, combined with strong magnetic and VTEM anomalies along with significant glacial retreat at Thunder North, Metallis extended its 2017 regional exploration program at higher altitudes and discovered a cluster of mafic to ultra-mafic intrusive rocks favorable for magmatic nickel-copper sulphide mineralization (see map).  Rock chip sampling and a single drill hole (KH17-09) tested a structurally controlled sulphide-rich zone dominated by silica-pyrite altered diorite and mafic volcanics along the margin of an olivine gabbro intrusive body.

Drill core samples from hole KH17-09 have been submitted for analysis and assay results will be released when they are received and interpreted.

Metallis anticipates having a greatly expanded 2018 exploration program at Thunder North which will include further surface sampling, geophysical analysis, petrographic studies as well as additional drilling. 

About the Kirkham Property

Metallis’ 100%-owned, 100 sq. km Kirkham Property rests in the heart of the Eskay Camp and is prospective for gold-copper porphyry, high-grade gold and base metal mineralization.  The northern border of Kirkham is contiguous to Garibaldi Resources’ E&L Nickel Mountain Project, approximately 12 km southwest of the Eskay Creek mine.  The eastern border of Kirkham is within 15 to 20 km of Seabridge Gold’s KSM deposit and Pretium Resources’ Brucejack mine which is now in commercial production. 

About Metallis

Metallis Resources Inc. is a Vancouver-based company focused on the exploration of precious metals and base metals at its 100%-owned Kirkham Property in northwest British Columbia’s Golden Triangle. Metallis trades under the symbol MTS on the TSX Venture Exchange and currently has 29,565,709 shares issued and outstanding.

On behalf of the Board of Directors:

/s/ “Fiore Aliperti”
Chief Executive Officer, President and Director

For further information:
Tel: 604-688-5077
Email: info@metallisresources.com
Web: www.metallisresources.com

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This Press Release may contain statements which constitute ‘forward-looking’ statements, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including quarterly and annual Management’s Discussion and Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements.

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 TSX-V Stock Exchange has neither approved nor disapproved the contents of this news release.