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Metallum Announces Proposed ASX Listing

Press Release

Metallum Resources Inc. (TSXV:MZN; OTCQB:MTLLF) (“Metallum” or the “Company”) announces its intention to seek listing on the Australian Securities Exchange (“ASX”) in Q4 2022.

“Our decision to seek a dual listing on the ASX is a result of significant support from Australian investors into our Superior Lake Zinc and Copper Project,” stated Tony Wonnacott, Chairman of Metallum. “We believe that a dual listing will improve access to capital and liquidity, enhance our corporate profile and allow Metallum to unlock its full value for shareholders.”

To help facilitate the proposed ASX listing, the Company, subject to the approval of the TSX Venture Exchange, will be proceeding with a consolidation (the “Consolidation”) of its common shares (the “Shares”) on the basis of one (1) new Share for every ten (10) old Shares held resulting in the Company having approximately 28,347,941 Shares issued and outstanding.

Registered shareholders of the Company who hold their Shares in certificate form will receive a letter of transmittal from the Company’s transfer agent, Computershare Investor Services Inc., with instructions for exchanging their pre-Consolidation Shares. Shareholders who hold their Shares through a broker or other intermediary will not need to complete a letter of transmittal. Shareholders who hold their Shares in DRS format will automatically receive an exchanged DRS advice and will not need to complete a letter of transmittal.

No fractional Shares will be issued as a result of the Consolidation. Shares will be rounded down to the nearest whole Share.

About Metallum

Metallum Resources (TSXV:MZN) is developing its Superior Lake Zinc and Copper Project located in Ontario, Canada which has been advanced to the feasibility stage. For more information on the project please visit metallumzinc.com.

For further details about the Company and the Superior Project, please visit the Company’s website at metallumzinc.com.

ON BEHALF OF THE BOARD

Kerem Usenmez,

President & Chief Executive Officer

Metallum Resources Inc.

Symbol: TSXV-MZN

For further information, contact:

Kerem Usenmez, President & CEO

Tel: 604-688-5288; Fax: 604-682-1514

Email: [email protected]

Website: metallumzinc.com

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