Signature Resources

White Metal Resources Reports 45 Metres Grading 2.02% Cu and 33 g/t Ag from Second Set of RC Drill Hole Results, Taranis Copper-Silver Project, Namibia

Thunder Bay, Ontario--(Newsfile Corp. - April 8, 2021) - White Metal Resources Corp. (TSXV: WHM) ("White Metal" or the "Company") is pleased report that it has received the second batch of assay results from an additional 7 reverse circulation ("RC") drill holes from its January-February 2021 drilling program (28 drill holes totalling 3,226 m) (Table 1). The Company previously announced results from the first batch of 6 RC drill hole results and the re-sampling of core from four historical diamond drill holes (see Company news release dated March 23, 2021). All drill holes from the current program targeted the historical Okohongo Cu-Ag Deposit ("Okohongo"). The 95% owned Taranis Copper-Silver Project (the "Project" or "Property"), which includes the historical Okohongo Copper-Silver Deposit, is located in northwestern Namibia and is defined by Exclusive Prospecting Licence ("EPL") 7071, covering about 19,850 hectares.

Michael Stares, President & CEO of the Company stated, "The results from the RC drilling program has again confirmed that the historical RC drill holes do contain significant copper grades and gives us further confidence that the Okohongo Cu-Ag Deposit is a great asset to have in the Company's portfolio. With these latest assay results, we will continue to look for the right partner to advance this project. With the demand for copper and silver rising I think this will bring even further value to the Taranis Property. In the meantime, the Company will remain focused on its flagship property, the Tower Stock Gold Property, located in northwestern Ontario, Canada."

Table 1. RC chip sample assays from the second set of drill holes, Okohongo Cu-Ag Deposit, Namibia.

Type/
Historical Hole
Drill Hole From (m) To (m) Int. (m) Cu (%) Ag (g/t) Pb (ppm) Zn (ppm)
New RC Drilling/
INVR-035
OK20-P07 175.00 183.00 8.00 0.77 14 260 183
  incl. 178.00 182.00 4.00 1.22 20 263 168
  incl. 180.00 181.00 1.00 2.39 34 546 183
New RC Drilling/
INVR-007
OK20-P06 72.00 75.00 3.00 0.32 9 19 53
  and 80.00 85.00 5.00 0.60 12 13 60
  incl. 82.00 83.00 1.00 1.98 47 10 79
New RC Drilling/
INVR-072
OK20-P08 no significant assays
New RC Drilling/
INVR-006
OK20-P05 21.00 66.00 45.00 2.02 33 511 91
  incl. 23.00 35.00 12.00 2.20 18 1202 71
  incl. 26.00 35.00 9.00 2.46 23 1409 62
  incl. 30.00 33.00 3.00 3.64 46 329 41
  incl. 36.00 40.00 4.00 2.38 43 322 76
  incl. 41.00 44.00 3.00 3.60 91 291 92
  incl. 42.00 44.00 2.00 4.25 114 236 75
  incl. 45.00 52.00 7.00 2.27 44 313 93
  incl. 54.00 65.00 11.00 2.20 39 137 112
New RC Drilling/
INVR-037
OK20-P012 12.00 51.00 39.00 0.58 5 315 50
  incl. 37.00 49.00 12.00 1.68 14 748 114
  and 78.00 87.00 9.00 0.60 10 21 111
  incl. 84.00 85.00 1.00 1.43 29 7 124
New RC Drilling/
INVR-009
OK20-P011 54.00 58.00 4.00 0.33 5 140 183
New RC Drilling/
INVR-017
OK20-P023 42.00 57.00 15.00 0.71 8 50 86
  incl. 44.00 45.00 1.00 2.35 15 186 57
  incl. 51.00 56.00 5.00 1.41 17 18 113

The recently completed RC drilling program (OK20-P series holes) on the Property was aimed at twinning, as close as possible and as reflected in Table 1, many of the RC drill holes that were used to calculate the 2011 historical mineral resource estimate (Table 2).

Once the Company receives all the results from the recently completed drilling program it will begin the process of updating the historical mineral resources from the Okohongo Cu-Ag Deposit to a current National Instrument 43-101 ("NI 43-101") mineral resource estimate and technical report.

The Taranis Copper-Silver Project, located in a very prospective area of northwestern Namibia. Although the primary target is the historical Okohongo Copper-Silver Deposit, the Company will be conducting reconnaissance work over the entire EPL, including follow up on a number of historical copper showings.

The historical Okohongo Cu-Ag Deposit has been outlined by historical drilling which shows that it extends for 600+ metres in strike length, 400 metres down-dip, and is open in all directions (see INV Metals news release dated August 3, 2011). The Okohongo, situated within the Kaoko Belt of northwest Namibia about 700 km northwest of Windhoek, is hosted by metasedimentary stratigraphy and is considered to be analogous with the stratiform sediment-hosted Central African Copperbelt deposits of Zambia and the Democratic Republic of the Congo. This deposit contains historical Inferred Mineral Resources of 10.2 million tonnes grading 1.12% Cu and 17.75 g/t Ag, using a 0.3% Cu cut-off (Table 2; INV Metals Inc. NI 43-101 Technical Report, Effective Date March 31, 2011).

Table 2. Historical Mineral Resources for the Okohongo Copper-Silver Project, Namibia.

Cut-off Specific Gravity Tonnes Cu (%) Ag (g/t) Cu (tonnes) Ag (ounces) Category
0.0 2.45 11,691,539 1.01 15.85 117,645 5,957,874 Inferred
0.1 2.45 11,682,796 1.01 15.86 117,640 5,957,640 Inferred
0.2 2.45 11,453,414 1.02 16.13 117,219 5,940,047 Inferred
0.3 2.45 10,196,456 1.12 17.75 114,046 5,818,534 Inferred
0.4 2.45 9,535,538 1.17 18.66 111,731 5,719,226 Inferred
0.5 2.45 8,705,239 1.24 19.73 107,993 5,522,454 Inferred
0.6 2.45 8,142,684 1.29 20.50 104,877 5,366,572 Inferred
0.7 2.45 7,366,110 1.35 21.61 99,810 5,116,714 Inferred
0.8 2.45 6,379,793 1.45 23.16 92,402 4,750,190 Inferred

Source: NI 43-101 Technical Report on the Okohongo Copper-Silver Property in Northwest Namibia, INV Metals Inc.; Prepared By: Caracle Creek International Consulting (Pty) Ltd., South Africa, Effective March 31, 2011.

The Company is treating the tonnages and grades reported in Table 2 as historical mineral resources. The Inferred Mineral Resource estimate reported in Table 2 for the Okohongo Copper-Silver Deposit was prepared by qualified authors in 2011, conforming to CIM Definition Standards on Mineral Resources and Mineral Reserves as outlined in National Instrument 43-101, Standards of Disclosure for Mineral Projects. A Qualified Person has not done sufficient work to classify the historical estimates as current mineral resources and the Company is not treating the historical estimates as current mineral resources. Investors are cautioned that the historical estimates do not mean or imply that economic deposits exist on the properties. The Company has not undertaken any independent investigation of the historical estimates or other information contained in this news release nor has it independently analyzed the results of the previous exploration work in order to verify the accuracy of the information. The Company believes that these historical estimates and other information contained in this news release are relevant to continuing exploration on the Property.

Sample Analysis

Drill core and RC chip samples were sent to the Activation Laboratories Ltd. ("Actlabs") preparation lab in Windhoek, Namibia and once prepared were sent to Actlabs in Ancaster, Ontario, Canada for analyses. The samples were first analysed with 4-Acid "Near Total" Digestion (1F2) with ICP-OES finish for Ag, Cu and a suite of 33 other elements. Subsequently, samples with Ag greater than 100 ppm (above Ag upper detection limit) were analysed with Fire Assay Gravimetric (8-Ag) and Cu greater than 10,000 ppm (above Cu upper detection limit) were analysed with sodium peroxide fusion with ICP-OES finish (8-Peroxide ICP). A Quality Control/Quality Assurance ("QA/QC") program consisting of the regular insertion of Certified Reference Material copper standards and blanks into the sample stream by the Company was in place as was the industry standard internal QA/QC practices used by Actlabs.

Qualified Person

Technical information in this news release has been reviewed and approved by Dr. Scott Jobin-Bevans (P.Geo.), Vice President Exploration and a Director of White Metal, who is a Qualified Person under the definitions established by the NI 43-101.

About White Metal Resources Corp (TSX-V: WHM):

White Metal Resources Corp is a junior exploration company exploring in Canada and southern Africa. For more information about the Company please visit 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

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."

Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections

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White Metal Resources

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