Boreal Completes Gumsberg Magnetic Survey and Identifies Multiple Prospective Zones IN Sweden

NEWS RELEASE

September 19, 2018

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BOREAL COMPLETES GUMSBERG MAGNETIC SURVEY AND IDENTIFIES MULTIPLE

PROSPECTIVE ZONES IN SWEDEN

Vancouver, B.C., September 19, 2018. Boreal Metals Corporation (“Boreal” or the “Company”)

(TSXV:BMX) is pleased to announce results from the recently completed 61-line kilometer ground

magnetic geophysical survey at the Gumsberg Project (“Gumsberg” or the “Project”) in southern

Sweden. Linear magnetic trends are associated with previously defined high-grade surface and

subsurface mineralization and are interpreted to reflect several highly prospective stacked

mineralized horizons.

“The results of the ground magnetic survey at Gumsberg greatly increase the base and precious

metal prospectivity of our high-grade Gumsberg Project,” stated Karl Antonius, President and

CEO. “The geophysical indications for multiple high-grade ore horizons vastly increases the

potential for Boreal to build tons in the prolific Bergslage n Mining District where Boliden and

Lundin are actively mining large precious metal enriched base metal deposits.”

Figure 1. Location of Gumsberg Project . The 2018 Vallberget-Loberget Ground Magnetic Survey

and Key Diamond Drill Hole Intercepts from the 2017 -2018 Drill Program.

NEWS RELEASE

September 19, 2018

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Vallberget-Loberget Ground Magnetic Survey

Ground magnetic data collected over the recently drilled Vallberget -Loberget prospect area

further confirms the potential for layered/stacked or structurally repeated mineralized zones

which represent attractive exploration drilling targets (Figure 1). These new targets significantly

expand the Project’s capacity to build tonnage over what now exceeds three kilometers of

prospective geology.

High-grade precious metal enriched base metal mineralizati on (silver-zinc-lead-copper) is

traceable at surface and by diamond drilling at depth and can contain magnetic minerals such as

pyrrhotite (Figure 1). Ground magnetic survey data provides a means of tracing mineralized

zones in the subsurface based on their magnetic properties. Prospective areas highlighted by the

magnetic surveys will be evaluated in the context of the Project’s geology to eliminate targets

that contain magnetic rocks unrelated to mineralization (e.g. magnetite bearing iron formations),

leading to new drill targets.

Not all mineralized zones contain sufficient magnetic minerals to show up in magnetic surveys.

Consequently, there may be additional non-magnetic mineralized horizons on the Gumsberg

Project that will require additional exploration methods (e.g. advanced geological interpretation,

electrical techniques) to define.

The strategically situated Gumsberg Project includes six exploration licenses located in the

Bergslagen Mining District of southern Sweden, totaling over 18,300 hectares, where multiple

zones and styles of VMS-style mineralization have been identified. Mineral exploration is ongoing

at Gumsberg and focused on testing additional zones of mineralization at several prospects which

contain surface mineralization and/or subsurface mineralization in drill holes and historical

workings.

Ground Magnetic Survey Parameters

A G859 Cesium Vapor Magnetometer, non-magnetic backpack and Tallysman WAAS/EGNOS

ready GPS paired with a G-856AX proton Procession magnetometer base station was used to

collect the Gumsberg survey data. Data was collected continuously over 13 days along staked

lines and corrected for diurnal magnetic variations. A total of 61-line kilometers of data were

collected with an average line spacing of 50 meters.

About Boreal Metals Corporation

Boreal is a mineral exploration company focused on the discovery of Zinc, Copper, Silver, Gold,

Cobalt and Nickel deposits in exceptional, historical mining project areas spanning Sweden and

NEWS RELEASE

September 19, 2018

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Norway. The Company aims to discover new economic mineral deposi ts in known mining

districts that have seen little or no modern exploration. The Company is led by an experienced

management team and technical team, with successful track records in mineral discovery, mining

development and financing.

Qualified Person

Daniel MacNeil, P.Geo, a Qualified Person as defined by National Instrument 43-101, has read

and approved all technical and scientific information related to the Gumsberg Project contained

in this news release. Mr. MacNeil is Vice President Exploration for Boreal Metals Corporation.

On behalf of Boreal Metals Corporation

Karl Antonius, President

For more information on Boreal, please visit the Company website at www.borealmetals.com or

contact Alexandra Woodyer Sherron at +1.604.922.8810 or [email protected].

Neither 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.

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 “e xpects”, “plans”, “anticipates”, “believes”, “intends”,

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

Although Boreal 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’s ability to raise sufficient capital

to fund its obligations under its property option agreements, to maintain its mineral tenures and concessions in good standin g, 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 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’s plans and business objectives for the projects; the general ability of Boreal 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’s management on the date the statements are made. Except

as required by law, Boreal undertakes no obligation to update these forward-looking statements in the event that management’s beliefs,

estimates or opinions, or other factors, should change.