PGE.V · 2020-05-29 12:00:00

Group Ten Reports High-Grade Gold, Palladium, and Platinum Results from the Pine and HGR Targets at the Stillwater West Project in Montana, USA

Corporate Updates

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Group Ten Reports High-Grade Gold, Palladium, and Platinum Results from the Pine and HGR

Targets at the Stillwater West Project in Montana, USA

May 29, 2020 – Vancouver, BC - Group Ten Metals Inc. (TSX.V: PGE; OTC: PGEZF; FSE: 5D32) (the “Company”

or “Group Ten”) is pleased to announce results of geological sampling and mapping programs, together with

assay results completed on past drill core, from the Company’s flagship Stillwater West platinum group

element, nickel, copper, cobalt (”PGE-Ni-Cu-Co”) project in Montana, USA.

This is the fifth in a series of planned news releases to report results of exploration programs that focused on

the advancement of drill-defined mineralized zones at five multi-kilometer-scale priority target areas.

Subsequent news releases will report results from ongoing modelling work and rhodium assays from drill and

field samples prior to our 2020 field exploration programs.

Highlights include:

• The Pine target shows very high-grade gold, palladium and platinum mineralization in drilling, soils and rock

sampling that is now being further assessed by the Company.

• Drilling at the Pine target returned values including 16.94 g/t 3E (16.19 g/t Au, 0.24 g/t Pt, 0.50 g/t Pd)

over 7.98 meters and 31.02 g/t 3E (28.7 g/t Au, 1.06 g/t Pt, 1.27 g/t Pd) over 2.6 meters hosted within the

chromite-rich ultramafic stratigraphy.

• High-grade gold, palladium, and platinum values ranging to 16.18 g/t 3E (13.80 g/t Au, 1.10 g/t Pd, and

1.28 g/t Pt) were returned in rock samples taken by Group Ten in 2019 at the Pine target, with a total of 13

samples returning from 2 to 30 g/t platinum equivalent grade mineralization to date by the Company.

• At the HGR target, nine kilometers east of the Pine target, high-grade gold, palladium, and platinum values

ranging to 19.06 g/t 3E (14.30 g/t Au, 3.10 g/t Pd, and 1.66 g/t Pt) were returned in assays conducted by

the US Geological Survey (“USGS”) on select samples of historic drill core from the HGR target area at Iron

Mountain that had not previously been assayed for precious metals.

• Results have identified a “gold suite” of pathfinder elements that co-occur in high-grade samples.

Michael Rowley, President and CEO, commented, "Our systematic approach in consolidating and exploring the

famously metal -rich yet underexplored Stillwater district continues to proffer exciting and unexpected

revelations. Our collaboration with the US Geological Survey has revealed that core drilled in 1977 at the HGR

target contains high -grade gold, palladium, and platinum that were not previously recognized, and that are

comparable to grades seen at the Pine target on the western side of the district. In addition, we have identified

geological similarities , including a suite of pathfinder elements that occur together in both locations, that

provide a guide for targeting gold-rich mineralization across the 25-kilometer-wide property. These high-grade

gold zones are now being recognized to be much more broadly distributed and to occur within some of the

same horizons that host the bulk-tonnage “Platreef-style” deposits of palladium, platinum, gold, rhodium,

nickel, copper, and cobalt in the lower Stillwater complex. We look forward to providing further news including

additional exploration results, updates on modelling work at the most advanced target areas, a head of field

exploration in 2020.”

Gold Suite Program and Results

A total of 40 samples were assayed from the HGR and Pine targets, which are two of the five most advanced

target areas at Stillwater West (see Figure 1). Samples from the Pine target consisted of rock chip samples

gathered by Group Ten in 2019, while the HGR samples consisted of select intervals of chromite-sulphide

bearing bronzite cumulate core retained by the USGS from hole 355-71, originally drilled by AMAX in 1977 but

only partially assayed at that time. Results from HGR core assays by the USGS demonstrate high-grade gold

values in addition to platinum, palladium, nickel, arsenic, bismuth, and antimony (see Table 1).

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The HGR target was tested by Group Ten in 2019 with three drill holes, with hole IM2019-2 testing the area

near historical AMAX hole 355-71 (see December 18, 2019 news release). Sulphide-bearing bronzite cumulate

intercepted in IM2019-2 over a 14-meter interval from 114 to 128 meters depth, broadly corresponding to the

355-71 interval tested by the USGS, returned highly anomalous concentrations of the same distinct metal suite

seen in 355-71, including gold, platinum, palladium, arsenic and bismuth.

TABLE 1 - High-Au samples from AMAX drill hole 355-71, HGR Target (Bow et al., 2020)1

The Pine target, situated approximately nine kilometers to the west of Iron Mountain, has been recognized as

an occurrence of high-grade gold-PGE mineralization associated with sheared, chromite-bearing ultramafic

rocks. It is one of five advanced target areas where the Company sees the potential to quickly establish

preliminary mineral resource estimates, with seven drill holes from 1983 and 2004 that define a precious

metals-rich mineralized zone that is 150 meters strike with an average width of 15 meters that has been tested

to a depth of 90 meters (see Table 2 and Figure 7 below, and news releases from June 4, 2019, January 25,

2019, and May 13, 2020).

TABLE 2 – Pine Target Drill Results

Rock chip samples taken from rubble crop near historical drill holes has confirmed the presence of high-grade

gold values. As shown in Table 3, assay results returned elevated values of arsenic and bismuth, suggesting a

geochemical affinity with the HGR drill holes and confirming the presence of unusual concentrations of arsenic

and bismuth associated with gold-rich samples from widely spaced targets within the Stillwater West property.

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TABLE 3 - High-Grade Gold Results from 2019 Rock Samples, Pine Target

Dr. Craig Bow, Chief Geologist, commented, “This additional geochemical data for gold-rich samples gives us a

clearer sense of the distinctive geochemistry of these rocks. In addition to arsenic and bismuth, we also see

elevated values of antimony and tellurium, which are extremely unusual in bulk rock assays from elsewhere in

the Stillwater Igneous Complex. The fact that we now have two examples from widely spaced locations in the

Peridotite Zone suggests that a bona fide, previously unrecognized gold-enriched style of mineralization can

occur along with bulk tonnage PGE-Ni-Cu-Co targets.”

As announced May 13, 2020 and summarized in Figures 2, 3, and 4, work in 2019 significantly expanded the

area of highly anomalous gold, palladium, and platinum in soils and advanced the developing block model by

re-logging and re-assaying drill core from 2004.

Mineralization at the Pine and HGR targets remains open to expansion in all directions.

FIGURE 1 – Main Target Areas Including Location of the Pine and HGR Targets

Across the 25-Kilometer Width of the Stillwater West Project

About Stillwater West

The Stillwater West PGE-Ni-Cu project positions Group Ten as the second-largest landholder in the Stillwater

Complex, adjoining and adjacent to Sibanye-Stillwater’s Stillwater, East Boulder, and Blitz platinum group

elements (“PGE”) mines in south-central Montana, USA1. The Stillwater Complex is recognized as one of the top

regions in the world for PGE-Ni-Cu mineralization, alongside the Bushveld Complex and Great Dyke in southern

Africa, which are similar layered intrusions. The J-M Reef, and other PGE-enriched sulphide horizons in the

Stillwater Complex, share many similarities with the highly prolific Merensky and UG2 Reefs in the Bushveld

Complex. At the same time, the lower part of the Stillwater Complex also shows the potential for much larger

scale disseminated and high-sulphide PGE-Ni-Cu deposits, similar to Platreef in the Bushveld Complex2. Group

Ten’s Stillwater West property covers the lower part of the Stillwater Complex along with the Picket Pin PGE

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Reef-type deposit in the upper portion, and includes extensive historic data, including soil and rock

geochemistry, geophysical surveys, geologic mapping, and historic drilling.

About Group Ten Metals Inc.

Group Ten Metals Inc. is a TSX-V-listed Canadian mineral exploration company focused on the development of

high-quality platinum, palladium, nickel, copper, cobalt, and gold exploration assets in top North American

mining jurisdictions. The Company’s core asset is the Stillwater West PGE-Ni-Cu project adjacent to Sibanye-

Stillwater’s high-grade PGE mines in Montana, USA2. Group Ten also holds the high-grade Black Lake-Drayton

Gold project in the Rainy River district of northwest Ontario and the Kluane PGE-Ni-Cu project on trend with

Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory.

About the Metallic Group of Companies

The Metallic Group is a collaboration of leading precious and base metals exploration companies, with a

portfolio of large, brownfield assets in established mining districts adjacent to some of the industry’s highest-

grade producers of silver and gold, platinum and palladium, and copper. Member companies include Metallic

Minerals in the Yukon’s high-grade Keno Hill silver district and La Plata silver-gold-copper district of Colorado,

Group Ten Metals in the Stillwater PGM-nickel-copper district of Montana, and Granite Creek Copper in the

Yukon’s Minto copper district. The founders and team members of the Metallic Group include highly successful

explorationists formerly with some of the industry’s leading explorers/developers and major producers. With

this expertise, the companies are undertaking a systematic approach to exploration using new models and

technologies to facilitate discoveries in these proven, but under-explored, mining districts. The Metallic Group

is headquartered in Vancouver, BC, Canada, and its member companies are listed on the Toronto Venture, US

OTC, and Frankfurt stock exchanges.

Note 1: Bow, C.S., Ostenson, M., Modroo, J.J. and Andersen, A., 2020. Precious and Base Metal Mineralization Within the Lower

Stratigraphy of the Stillwater Complex: New Targets Defined and Old Targets Revisited. Geological Society of Nevada

Symposium Proceedings, in prep.

Note 2: References to adjoining properties are for illustrative purposes only and are not necessarily indicative of the exploration potential,

extent or nature of mineralization or potential future results of the Company’s projects.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Michael Rowley, President, CEO & Director

Email: [email protected] Phone: (604) 357 4790

Web: http://grouptenmetals.com Toll Free: (888) 432 0075

Quality Control and Quality Assurance

2019 field samples were analyzed by ACT Labs in Vancouver, B.C. Sample preparation: crush (< 7 kg) up to 80% passing 2

mm, riffle split (250 g) and pulverize (mild steel) to 95% passing 105 µm included cleaner sand. Gold, platinum, and

palladium were analyzed by fire assay (1C-OES) with ICP finish. Selected major and trace elements were analyzed by

peroxide fusion with 8-Peroxide ICP-OES finish to insure complete dissolution of resistate minerals.

Mr. Mike Ostenson, P.Geo., is the qualified person for the purposes of National Instrument 43-101, and he has reviewed

and approved the technical disclosure contained in this news release.

Forward-Looking Statements

Forward Looking Statements: This news release includes certain statements that may be deemed "forward-looking statements". All statements in this

release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production,

estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the

timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency

exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and

objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Group Ten 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 the forward-looking statements. Forward-looking statements are based on a number

of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure

to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource

estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated

with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns,

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uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other

exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned

that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an

inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more

information on Group Ten and the risks and challenges of their businesses, investors should review their annual filings that are available at

www.sedar.com.

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

responsibility for the adequacy or accuracy of this release.

Total Platinum Equivalent ( TotPtEq g/t) and Total Nickel Equivalent ( TotNiEq %) calculations reflect total gross metal content using metals prices as follows (all USD): $6.00/ lb nickel (Ni), $3.00/lb copper (Cu), $20.00/lb cobalt (Co), $900/oz

platinum (Pt), $1,400/oz palladium (Pd), and $1,400/oz gold (Au). Values have not been adjusted to reflect metallurgical reco veries. Total metal equivalent values include both base and precious metals. In terms of dollar value, 0.25% nickel

equates to a copper value of 0.5%, or a platinum value of 1.15 g/t, using the above metal values. 2004 drilling was conducted by Group Ten’s QP while working for Premium Exploration. 1983 drill results are considered histor ic and have not

been independently verified by Group Ten. Intervals are reported as drilled widths, and are believed to be representative of true widths.

Figure 2 – WILD WEST TARGET AREA

2019 ROCK SAMPLE RESULTS OVER SOIL GEOCHEMISTRY (Pt, Pd, Au)

WITH HIGHLIGHT DRILL DATA

STILLWATER WEST PGE-Ni-Cu PROJECT, Montana, USA

TARGET AREAS ROCK SAMPLE RESULTS

as Total Pt Equivalent g/t

and as Total Nickel Equivalent %

TotPtEq g/t TotNiEq %

0.5 to 1 g/t 0.12 to 0.24 %

1 to 5 g/t 0.24 to 1.22 %

> 5 g/t > 1.22 %

1 km

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• Modeling of drill results from 1983 and 2004, plus

re-logging and re-assaying of available core in 2019,

has defined a zone of high-grade gold

mineralization at the Pine target

• 2019 soil survey completed coverage at Pine and

identified strongly anomalous gold in soils of up to

475 ppb Au up to two kilometers west at Gold

Ridge and Pegmatoid Ridge

• 2019 rock sampling and geological mapping

returned high-grade gold, palladium, and platinum

in all three above areas, including:

BLAKELY

PEGMATOID RIDGE

GOLD RIDGE

GEOLOGIC BOUNDARIES:

BAN – Banded Series

BZ – Bronzitite Zone

PZ – Peridotite Zone

HF - Hornfels

PINE TARGET

(See Figure 7)

BOULDER

CHROME

MOUNTAIN

PINE TARGET – Drill-Defined High-Grade Gold

• 150m strike, average width 15m, tested to 90m depth, open for expansion

• 7 holes with high-grade intercepts including:

• 8.0m at 16g/t Au, 0.24g/t Pt, 0.50 g/t Pd in hole PC-5 (1983)

• 3.2m at 23g/t Au, 0.89g/t Pt, 1.04g/t Pd in hole PC-2 (1983)

Pine

HGR

2 2

24.55 g/t TotPtEq including 13.80 g/t Au,

1.10 g/t Pd, 1.28 g/t Pt

18.84 g/t TotPtEq including 10.50 g/t Au,

0.98 g/t Pd, 0.92 g/t Pt

7.39 g/t TotPtEq including 3.81 g/t Pd,

1.17 g/t Pt

5.82 g/t TotPtEq including 2.89 g/t Pd,

1.26 g/t Pt

4.30 g/t TotPtEq including 2.11 g/t Pd

WILD WEST

UNTESTED PGE

SOIL

ANOMALY

➢ 2019 work identified a suite of elements common to high-grade gold mineralization at both

the Pine and HGR targets, 9 km apart, providing Group Ten with the means to explore for

potential similar mineralization across the 25-kilometer span of the Stillwater West project

Figure 3 – WILD WEST TARGET AREA

2019 ROCK SAMPLE RESULTS OVER SOIL GEOCHEMISTRY (Au)

WITH HIGHLIGHT DRILL DATA

STILLWATER WEST PGE-Ni-Cu PROJECT, Montana, USA

TARGET AREAS

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ROCK SAMPLE RESULTS

as Total Pt Equivalent g/t

and as Total Nickel Equivalent %

TotPtEq g/t TotNiEq %

0.5 to 1 g/t 0.12 to 0.24 %

1 to 5 g/t 0.24 to 1.22 %

> 5 g/t > 1.22 %

1 km

PEGMATOID RIDGE

GOLD RIDGE

GEOLOGIC BOUNDARIES:

BAN – Banded Series

BZ – Bronzitite Zone

PZ – Peridotite Zone

HF - Hornfels

BOULDER

CHROME

MOUNTAIN

been independently verified by Group Ten. Intervals are reported as drilled widths, and are believed to be representative of true widths.

HGR

WILD WEST

UNTESTED GOLD

SOIL ANOMALY

PINE TARGET – Drill-Defined High-Grade Gold

• 150m strike, average width 15m, tested to 90m depth, open for expansion

• 7 holes with high-grade intercepts including:

• 8.0m at 16g/t Au, 0.24g/t Pt, 0.50 g/t Pd in hole PC-5 (1983)

• 3.2m at 23g/t Au, 0.89g/t Pt, 1.04g/t Pd in hole PC-2 (1983)

UNTESTED GOLD

SOIL ANOMALY

PINE TARGET

(See Figure 7)

Pine

• Modeling of drill results from 1983 and 2004, plus

re-logging and re-assaying of available core in 2019,

has defined a zone of high-grade gold

mineralization at the Pine target

• 2019 soil survey completed coverage at Pine and

identified strongly anomalous gold in soils of up to

475 ppb Au up to two kilometers west at Gold

Ridge and Pegmatoid Ridge

• 2019 rock sampling and geological mapping

returned high-grade gold, palladium, and platinum

in all three above areas, including:

24.55 g/t TotPtEq including 13.80 g/t Au,

1.10 g/t Pd, 1.28 g/t Pt

18.84 g/t TotPtEq including 10.50 g/t Au,

0.98 g/t Pd, 0.92 g/t Pt

7.39 g/t TotPtEq including 3.81 g/t Pd,

1.17 g/t Pt

5.82 g/t TotPtEq including 2.89 g/t Pd,

1.26 g/t Pt

4.30 g/t TotPtEq including 2.11 g/t Pd

➢ 2019 work identified a suite of elements common to high-grade gold mineralization at both

the Pine and HGR targets, 9 km apart, providing Group Ten with the means to explore for

potential similar mineralization across the 25-kilometer span of the Stillwater West project

Figure 4 – WILD WEST TARGET AREA

2019 ROCK SAMPLE RESULTS OVER SOIL GEOCHEMISTRY (Ni, Cu) WITH

HIGHLIGHT DRILL DATA

STILLWATER WEST PGE-Ni-Cu PROJECT, Montana, USA

TARGET AREAS

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been independently verified by Group Ten. Intervals are reported as drilled widths, and are believed to be representative of true widths.

ROCK SAMPLE RESULTS

as Total Pt Equivalent g/t

and as Total Nickel Equivalent %

TotPtEq g/t TotNiEq %

0.5 to 1 g/t 0.12 to 0.24 %

1 to 5 g/t 0.24 to 1.22 %

> 5 g/t > 1.22 %

1 km

BLAKELY

PEGMATOID RIDGE

GOLD RIDGE

BOULDER

CHROME

MOUNTAIN

GEOLOGIC BOUNDARIES:

BAN – Banded Series

BZ – Bronzitite Zone

PZ – Peridotite Zone

HF - Hornfels

HGR

WILD WEST

UNTESTED NICKEL

COPPER SOIL ANOMALY

PINE TARGET – Drill-Defined High-Grade Gold

• 150m strike, average width 15m, tested to 90m depth, open for expansion

• 7 holes with high-grade intercepts including:

• 8.0m at 16g/t Au, 0.24g/t Pt, 0.50 g/t Pd in hole PC-5 (1983)

• 3.2m at 23g/t Au, 0.89g/t Pt, 1.04g/t Pd in hole PC-2 (1983)

PINE TARGET

(See Figure 7)

Pine

• Modeling of drill results from 1983 and 2004, plus

re-logging and re-assaying of available core in 2019,

has defined a zone of high-grade gold

mineralization at the Pine target

• 2019 soil survey completed coverage at Pine and

identified strongly anomalous gold in soils of up to

475 ppb Au up to two kilometers west at Gold

Ridge and Pegmatoid Ridge

• 2019 rock sampling and geological mapping

returned high-grade gold, palladium, and platinum

in all three above areas, including:

24.55 g/t TotPtEq including 13.80 g/t Au,

1.10 g/t Pd, 1.28 g/t Pt

18.84 g/t TotPtEq including 10.50 g/t Au,

0.98 g/t Pd, 0.92 g/t Pt

7.39 g/t TotPtEq including 3.81 g/t Pd,

1.17 g/t Pt

5.82 g/t TotPtEq including 2.89 g/t Pd,

1.26 g/t Pt

4.30 g/t TotPtEq including 2.11 g/t Pd

➢ 2019 work identified a suite of elements common to high-grade gold mineralization at both

the Pine and HGR targets, 9 km apart, providing Group Ten with the means to explore for

potential similar mineralization across the 25-kilometer span of the Stillwater West project

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