Kiplin Metals Updates Terms of Private Placement

LEGAL*50051149.1

KIPLIN METALS INC.

Suite 2200, 885 West Georgia Street

Vancouver, British Columbia

V6C 3E8

NEWS RELEASE

KIPLIN METALS UPDATES TERMS OF PRIVATE PLACEMENT

April 6, 2020 – Vancouver, British Columbia – Kiplin Metals Inc. (the “Company”) (TSXV: KIP)

announces that it has elected to revise the terms of its previously announced non-brokered

private placement in response to current market conditions. The Company will now offer up to

12,000,000 units (each, a “Unit”), at a price of $0.06 per Unit, for gross proceeds of up to

$720,000. Each “Unit” will consist of one common share and one common share purchase

warrant, each of which is exercisable to acquire an additional common share at a price of

$0.085 for a period of thirty-six months.

The Company may pay finders’ fees to eligible parties who have introduced subscribers to the

placement. A ll securities issued in connection with the placement will be subject to a four-

month-and-one-day statutory hold period in accordance with applicable securities laws.

Completion of t he placement remains subject to the final approval of t he TSX Venture

Exchange.

For further information, contact Richard Ko, Chief Financial Officer, at 604.622.1199.

On behalf of the Board,

Kiplin Metals Inc.

Richard Ko, Chief Financial Officer

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

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

This news release may include forward-looking statements that are subject to risks and uncertainties. All statements

within, other than statements of historical fact, are to be considered forward looking. Alt hough the Company believes

the expectations expressed in such forward-looking statements are based on reasonable assumptions, such

statements are not guarantees of future performance and actual results or developments may differ materially from

those in forward-looking statements. T here can be no assurances that such statements will prove accurate and,

therefore, readers are advised to rely on their own evaluation of such uncertainties. W e do not assume any

obligation to update any forward-looking statements except as required under the applicable laws.