Full Metal Minerals Announces Closing of First Tranche of Private Placement in Trust

March 9, 2021

(FMM 2021 NR #2)

Full Metal Minerals Announces Closing of First Tranche of

Private Placement in Trust

Vancouver, BC – March 9, 2021 – Full Metal Minerals Ltd. (FMM -TSX:V) (“Full Metal ” or the

“Company”) announces that, further to its press releases disseminated on April 20, 2018, October 8, 2020

and December 24, 2020, the Company has closed the first tranche of its non-brokered private placement in

trust, pending final approval from the TSX Venture Exchange , for gross proceeds of $1,600,000 (the

“Private Placement”). The Company issued 20,000,000 common shares in the capital of the Company

(each a "Share") priced at $0.08 per Share under the Private Placement.

All securities issued under the Private Placement are subject to a four month and one day hold period. The

proceeds of the Private Placement will be held in trust pending final approval of the TSX Venture Exchange

for the Private Placement.

The Company intends to use t he proceeds of the Private Placement primarily for exploration expenses,

project evaluation and due diligence related to the Property, along with general and administrative expenses

and working capital. No finder's fees were paid under the first tranche of the Private Placement.

ON BEHALF OF THE BOARD OF DIRECTORS

“Peter Voulgaris”

Peter Voulgaris

President/CEO and Director

For more information please contact:

Peter Voulgaris

604-484-7855

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

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

Email [email protected]

www.fullmetalminerals.com

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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies o f the TSX

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

Cautionary Note Regarding Forward -Looking Statements: This press 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, including, without limitation, statements regarding, t he Private

Placement, the Transaction, the Property o ption and other future plans and objectives of the Company are forward -

looking statements. There can be no assurance that such statements will prove to be accurate and actual results and

future events may vary from those anticipated in such statements. Important risk factors that could cause actual results

to differ materially from the Company's plans or expectations include failure to close the Private Placement, a failure

to obtain TSXV approval of the Transaction and failure to raise sufficient funds on the proposed terms or at all and

failure to exercise the Property option. The forward-looking statements in this press release were developed based on

the assumptions and expectations of management, including that TSXV acceptance for the Private Placement and the

Transaction will be obtained, the required fundraising will be completed, the Property option will be exercised and the

other assumptions disclosed in this press release and that the risks described above will not materialize. There can be

no assurance that the Private Placement, the Transaction or the exercise of the Property option will complete. The

Company expressly disclaims any intention or obliga tion 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.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale

of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration

or qualification under the securities laws of such jurisdiction, including the United States. The securities referenced

in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended

(the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to,

or for the account or benefit of, a “U.S. person,” as such term is defined in Regulation S under the U.S. Securities Act,

unless an exemption from such registration requirements is available.