October 27, 2017
Vancouver, BC: Metallis Resources Inc. (TSX-V: MTS) (the “Company” or “Metallis Resources”) announces that further to its August 23, 2017 news release, it has issued a total of 454,345 shares consisting of 357,421 shares at $0.3375 per share and 96,924 shares at $0.59 per share to settle outstanding debt for $177,815 for diamond drilling services provided for part of the 2017 Drilling Program at the Kirkham Property, in the Golden Triangle’s prolific Eskay Camp in Northern British Columbia.
The Company received TSX-V Exchange approval on October 24, 2017 for this transaction. The common shares issued pursuant to the Shares for Debt Transaction will be subject to a four-month hold period.
About the Kirkham Property
The 10,600 hectare Kirkham Property, prospective for gold-copper porphyry, high-grade gold and base metal mineralization, is located about 65 km north of Stewart, British Columbia within the prolific Golden Triangle region. 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.
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 29,296,809 shares issued and outstanding, including this transaction.
On behalf of the Board of Directors:
/s/ “Fiore Aliperti”
Chief Executive Officer, President and Director
For further information:
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.
METALLIS ISSUES SHARES FOR DEBT
October 27, 2017