Metallis Resources Inc. Announces Private Placement

METALLIS RESOURCES INC. ANNOUNCES PRIVATE PLACEMENT

August 9, 2017

Vancouver, BC: Metallis Resources Inc. (TSX-V: MTS) (the “Company” or “Metallis Resources”)

announces a private placement for gross proceeds of up to $500,000 consisting of up to 2,000,000

Units at a price of $0. 25 cents per Unit. Each Unit consists of one (1) common share of the

Company (each, a “Share”) and one -half (1/2) of one non -transferable share purchase warrant

(each whole warrant, a “Warrant”) . Each Warrant is exercisable for the purchase of one (1)

additional Share at a price of $0.40 per Warrant for a period of two (2) years. However, within that

two year period and after the expiry of the 4 month hold period, the Company may accelerate the

expiry date to 30 days after the last of ten (10) consecutive days if and whereby the closing price of

the Company’s shares is greater than or equal to $0.50 per share.

Proceeds from the private placement will be used to drill test the King Target and the southern

extent of the Hawilson Monzonite body scheduled on August 16, 2017, further exploration on the

Kirkham Property and for general working capital. The private placement is subject to TSX -V

approval.

About the Kirkham Property

The 10,600 hectare Kirkham Property is located about 65 km north of Stewart within the prolific

Golden Triangle. The Property is within 30 kilometres of Pretium’s Brucejack deposit and

Seabridge’s KSM deposit and is in between 20 and 40 kilo metres of Barrick’s Eskay Creek and

Snip Mine.

About Metallis

Metallis Resources Inc is a Vancouver based company focused on the exploration of gold, copper

and silver on the 100% owned Kirkham Property situated in northern British Columbia. Metallis

Resources Inc. trades under the symbol MTS on the TSX Venture Exchange and currently has

20,826,617 shares issued and outstanding.

On behalf of the Board of Directors:

/s/ “Fiore Aliperti”

Chief Executive Officer, President and Director

For further information:

Tel: 604-688-5077

Email: [email protected]

Web: www.metallisresources.com

Neither 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. The TSX -V Stock

Exchange has neither approved nor disapproved the contents of this news release.