Boreal announces Private Placement Karl Antonius reports:

Boreal Metals Corp.

Boreal announces Private Placement

Karl Antonius reports:

Vancouver, B.C., April 12, 2017. Boreal Metals Corp. (“BMC” or the “Corporation”) is pleased

to announce that it has arranged a private placement of up to 10,000,000 units at $0.20 per unit

for total gross proceeds of up to $2,000,000. Each unit will consist of one common share and

one-half of one transferable share purchase warrant, with each whole warrant exercisable into

one additional common share at a price of $0.40 per share for a period of two years from the

date of closing. The warrants are subject to an acceleration provision, whereby any time after

four months from the date of i ssuance and before the expiry date, if t he closing price of t he

common shares of the Corporation is $0.75 or above for 10 consecutive trading days, the

Corporation may provide notice to the holder (the “Acceleration Notice”) that the Warrants will

expire on the date which is 30 days from the date of the Acceleration Notice.

All securities issued under the placement will be subject to statutory hold periods expiring four

months and one day from issue date. Finder’s fees may be paid in accordance with applicable

securities laws. The proceeds of the private placement will be used for general working capital

and exploration of its projects. The Corporation intends to close the private placement in

different tranches, with an expected $1 million being placed to North American investors and an

expected $1 million being placed to European investors.

The Corporation also corrects the closing number of u nits from its recent private placement

noted in its March 31, 2017 news release. The Corporation sold 12,270,000 units for gross

proceeds of $613,500.

About Boreal Metals Corp.

Boreal Metals Corp. is a Canadian reporting issuer company founded in 2013. T he

Corporation’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 through 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:

Karl Antonius: [email protected]

Patricio Varas: [email protected]

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.