Full Metal Announces Option to Earn 60% Interest IN Olivine Mountain Project

FOR IMMEDIATE RELEASE February 26, 2020

(FMM 2020 NR #1)

FULL METAL ANNOUNCES OPTION TO EARN 60% INTEREST IN OLIVINE

MOUNTAIN PROJECT

Vancouver, BC – February 26, 2020 – Full Metal Minerals Ltd. (FMM -TSX:V) ("Full Metal"

or the "Company") and GSP Resource Corp. (GSPR -TSX:V) ( "GSPR") have e ntered into a n

agreement (the "Agreement") pursuant to which Full Metal has the option (the "Option") to

earn a 60% interest in GSPR’s Olivine Mountain property in the Similkameen Mining

Division, British Columbia.

The Option may be exercised by (i) incurring exploration expenditures of $500,000 including

a minimum $75,000 within 12 months following the date (the "Acceptance Date ") upon

which the Agreement is accepted by the TSX Venture Exchange ; (ii) making cash payments

totaling $500,000 ($75,000 within 12 months of the Acceptance Date) ; and (iii) issuing

250,000 common shares of Full Metal (70,000 within 12 months of the Acceptance Date) ,

over the four-year Option term.

GSPR will be the operator for exploration programs determined by Full Metal. The 10 %

operator fee will count towards the required exploration expenditures. Following the

exercise of the Option, Full Metal and GSPR will continue under a joint venture with Full

Metal holding a 60% interest and GSPR holding a 40% interest.

The Agreement is subject to acceptance by the TSX Venture Exchange.

About Olivine Mountain

The 3,021.87-hectare Olivine Mountain Property (the “Property”) is located approximately

25km northwest of Princeton, British Columbia. The Property is underlain by rocks of the

Tulameen Mafic/Ultramafic Complex which hosts two adjacent magnetite deposits,

Lodestone Mountain and Tanglewoo d Hill, both less than a kilometre outside of the

Property boundary , and hosted within same geological formation s found within the

Property. Potential target metals include but aren’t limited to copper, nickel, platinum -

group metals, cobalt, and gold.

In 2019 GSPR completed roughly 1200 metres of reconnaissance exploration drilling

consisting of seven (7) drill holes. Five (5) of the seven (7) holes e ncountered multiple

intersections of copper -mineralization, the results of this drill progra m can be found in a

GSPR news release dated January 15 th, 2020. To date this is the only exploration drilling

known to have been completed within the Property Boundary.

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In 2018 GSPR completed an airborne magnetic and TEM survey, a nine square kilometre (9

km2) soil geochemical sampling program consisting of approximately 1750 soil samples, and

a historical data compilation program. The work performed by GSPR in 2018 was used to

identify the 2019 drill targets.

Several surface showings and targets with in the Property remain untested and warrant

future exploration work.

Qualified Person

The scientific and technical information contained in this news release as it relate s to the

Olivine Mountain Project has been reviewed and approved by Raymond E. Wlad ichuk,

P.Geo., a “Qualified Person” as defined in National Instrument 43 -101 – Standards of

Disclosure for Mineral Projects.

Full Metal is currently evaluating several preci ous metal opportunities and following due

diligence will be looking at pursuing another acquisition.

ON BEHALF OF THE BOARD OF DIRECTORS

“Michael Williams”

Michael Williams

CEO & President

Suite 1500, 409 Granville Street, Vancouver, BC V6C 1T2

Telephone: 604-484-7855 Fax: 604-484-7155

Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the

TSXV) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements:

This news release includes certain forward -looking statements and forward -looking

information (together, “forward-looking statements”). All statements other than statements

of historical fact included in this release, includi ng, without limitation, statements regarding

the acceptance of the Agreement by the TSX Venture Exchange, the exercise of the Option

and the entering into a joint venture by Full Metal and GSPR are forward -looking

statements. There can be no assurance tha t such statements will prove to be accurate and

actual results and future events may vary from those anticipated in such statements.

Full Metal cautions that all forward -looking statements are inherently uncertain and that actual

performance may be affect ed by a number of material factors, many of which are beyond Full

Metal’s control. Important risk factors that could cause a ctual results to differ materially

from Full Metal’s plans or expectations include failure to obtain the acceptance of the

Agreement by the TSX Venture Exchange, the inability of Full Metal to exercise of the

Option, the inability of Full Metal and GSPR to enter into a joint venture and risks associated

with mineral exploration and the other risks disclosed in this news release.

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The forward-looking statements in this news release were developed based on the

assumptions and expectations of management, inclu ding that there will be other

opportunities available, the other assumptions disclosed in this news release and that the

risks desc ribed above will not materialize. Accordingly, actual and future events, conditions

and results may differ materially from th e estimates, beliefs, intentions and expectations

expressed or implied in the forward -looking information. Full Metal expressly dis claims any

intention or obligation to update or revise any forward -looking statements whether as a

result of new information, future events or otherwise, except as otherwise required by

applicable securities legislation