DMCU.V · 2017-03-31 12:00:00

Boreal announces Closing of Over-Subscribed Private Placement

Financings

Boreal Metals Corp.

Vancouver, B.C., March 31, 2017. Boreal Metals Corp. (“BMC” or the “Company”) is pleased

to announce that it has closed a non-brokered private placement, previously announced on

February 10, 2017, which was oversubscribed by 4,067,580 units. The Company has issued

12,067,580 Units at a price of $0.05 per Unit, for gross proceeds of $603,379. Each Unit is

comprised of one common share and one-half transferable share purchase warrant exercisable

at the price of $0.10, for a period of one year after closing of the financing. The shares and

warrants will be subject to the usual securities law four month hold period, as well as a

contractual restriction on trading for 12 months. The proceeds of the financing will be used for

general working capital.

About Boreal Metals Corp.

Boreal Metals Corp. is a Canadian reporting issuer company founded in 2013. The Company’s

experienced finance and technical management team is focused on opportunity recognition and

committed to creating shareholder value through exploration project acquisition and

advancement. Boreal holds interests in the Gumsberg and Adak exploration assets in Sweden

and the Tynset and Burfjord assets in Norway t hrough its wholly-owned subsidiaries EMX

Exploration Scandanavia AB and Iekelvare Minerals AB.

Karl Antonius

President and CEO, Boreal Metals Corp.

For further information regarding Boreal Metals Corp., please contact:

Cautionary Note Regarding Forward-Looking Statements

This news release contains certain statements that may be deemed “forward-looking statements”.

Forward-looking statements are statements that are not historical facts and are generally, but not always,

identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”,

“potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should”

occur. Although Boreal Metals Corp. believes the expectations expressed in such forward-looking

statements are based on reasonable assumptions, such statements are not guarantees of future

performance, are subject to risks and uncertainties, and actual results or realities may differ materially

from those in the forward-looking statements. Such material risks and uncertainties include, but are not

limited to, Boreal Metals Corp.’s ability to raise sufficient capital to fund its obligations under its property

option agreements, to maintain its mineral tenures and concessions in good standing, to explore and

develop its projects, to repay its debt and for general working capital purposes; changes in economic

conditions or financial markets; the ability of Boreal Metals Corp. to obtain the necessary permits and

consents required to explore, drill and develop the projects and if obtained, to obtain such permits and

consents in a timely fashion relative to Boreal Metals Corp.’s p lans and business objectives for the

projects; the general ability of Boreal Metals Corp. to drill test its projects and find mineral resources; if

any mineral resources are discovered or acquired, the Company’s ability to monetize any such mineral

resources; and changes in environmental and other laws or regulations that could have an impact on the

Company’s operations. Forward-looking statements are based on the reasonable beliefs, estimates and

opinions of Boreal Metals Corp.’s management on the date the statements are made. Except as required

by law, Boreal Metals Corp. undertakes no obligation to update these forward-looking statements in the

event that management’s beliefs, estimates or opinions, or other factors, should change.