Metallis Resources Inc. Increases Private Placement

METALLIS RESOURCES INC. INCREASES PRIVATE PLACEMENT

August 10, 2017

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

has increased its private placement previously announced on August 9, 2017 for up to 2,000,000

Units to 2,400,000 Units for gross proceeds of up to $600,000 . As previously disclosed, 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 who le 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 kilomet res of Pretium’s Brucejack deposit and

Seabridge’s KSM deposit and is in between 20 and 40 kilometres 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 accura cy of this release. The TSX -V Stock

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