White Metal Announces Increase to Private Placement Financing

White Metal Announces Increase to Private

Placement Financing

Thunder Bay, Ontario--(Newsfile Corp. - February 5, 2021) -

White Metal Resources Corp. (TSXV:

WHM)

("White Metal" or the "Company") Further to its January 18, 2021 news release the Company

announces that it has increased its private placement financing from $2 million to up to $2,213,000.

On receipt of all regulatory approvals, the Company intends to issue up to 4,715,385 flow-through units at

a price of $0.13 per flow-through unit, each consisting of 1 flow-through common share of the Company

and one common share purchase warrant, with each warrant entitling the holder to acquire an additional

common share of the Company at $0.20 for a period of 24 months from the date of issue, and up to

17,777,778 non-flow-through units at a price of $0.09 per unit each consisting of 1 common share of the

Company and 1 common share purchase warrant, with each warrant entitling the holder to acquire an

additional common share of the Company at $0.20 for 24 months from the date of issue, for aggregate

gross proceeds of $2,213,000.

The flow-through shares will entitle the holder to receive the tax benefits

applicable to flow-through shares, in accordance with provisions of the Income Tax Act (Canada).

Finders Fees may apply to this private placement and all securities issued will be subject to a four-month

hold period.

Proceeds of the financing will be used to advance the Company's Tower Stock Gold Property and for

working capital purposes.

About White Metal Resources Corp (TSXV: WHM):

White Metal Resources Corp is a junior exploration company exploring

in Canada.

For more information in regards to White Metal Resources Corp. you can visit the company's Web Page

at

www.whitemetalres.com

.

On behalf of the Board of Directors of White Metal Resources Corp.

"Michael Stares"

President & CEO, Director

For further information contact:

Michael Stares

President & CEO, Director

684 Squier Street

Thunder Bay, Ontario, Canada, P7B 4A8

Phone: (807) 358-2420

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.

To view the source version of this press release, please visit

https://www.newsfilecorp.com/release/73772