Mr. Sean Mager, President and Chief Executive Officer of Duro Metals Inc. (TSXV – "DURO.P") (the "Corporation"), announces the Corporation, a Capital Pool Company, has raised $300,000 by an initial public offering of

DURO METALS INC.

Press Release

FOR IMMEDIATE RELEASE

December 9, 2019

Edmonton, Alberta - Mr. Sean Mager, President and Chief Executive Officer of Duro Metals Inc. (TSXV – "DURO.P")

(the "Corporation"), announces the Corporation, a Capital Pool Company, has raised $300,000 by an initial public offering of

3,000,000 common shares in the provinces of Alberta, British Columbia and Ontario , which closed on December 9, 2019

(the "Offering"). The Corporation has submitted all required documentation to the TSX Venture Exchange (“TSXV”) for final

listing approval and anticipates that trading will commence on, or about, December 12, 2019, under the symbol "DURO.P".

Pursuant to the agency agreement dated September 11, 2019, Mackie Research Capital Corporation (the "Agent") acted as agent for

the Offering. As part of the compensation to the Agent for its services in connection with the Offering, the Corporation has paid a

cash fee of $27,000 which represents the Agent's commission of 9% of the aggregate gross proceeds of the Offering. The Agent also

received 270,000 agent's options entitling the Agent to acquire an aggregate of 270,000 common shares of the Corporation at an

exercise price of $0.10 per common share until December 12, 2021.

Following completion of the Offering, the Corporation has 6,300,000 common shares outstanding, of which 3,300,000 are subject to

escrow in accordance with TSXV policies.

The net proceeds of the Offering, together with the proceeds from prior sales of common shares of the Corporation, will be used by

the Corporation to identify and evaluate assets or businesses for acquisition with a view to completing a "Qualifying Transaction"

under the capital pool company program pursuant to Policy 2.4 of the TSXV. Under TSXV Policies, the Corporation has 24 months

to identify and close a Qualifying Transaction. Investors are cautioned that trading in the securities of a capital pool company should

be considered highly speculative.

Neither the TSX Venture Exc hange nor its Regulation Services Pr ovider (as that term is defined in the policies of the

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

For further information, please see the prospectus of the Corporation dated September 11, 2019, filed on SEDAR, or please contact:

DURO METALS INC.

10545 – 45 Avenue NW

250 Southridge, Suite 300

Edmonton, Alberta T6H 4M9

Phone: (780) 701-3215

Attention: Sean Mager, President, Chief Executive Officer & Director

THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO

SELL ANY OF THE SECURITIES IN THE UNITED STATES. THE SECURITIES HAVE NOT BEEN AND WILL NOT

BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "U.S.

SECURITIES ACT") OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED OR SOLD WITHIN THE

UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED UNDER THE U.S. SECURITIES ACT AND

APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE.