White Metal Discovers Additional New Zone and Provides Update on Exploration at the Gunners Cove Gold Project

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Thunder Bay, Ontario--(Newsfile Corp. - July 11, 2018) - White Metal Resources Corp. (TSXV: WHM) ("White Metal" or the "Company") is pleased to announce that it has discovered a new sulphide-mineralized area (the "Totem Zone") on the Gunners Cove Gold Project (the "Project"), located in northern Newfoundland. The Company is awaiting results from 15 surface grab samples taken from the newly discovered Totem Zone, located about 18 kilometres south of the original Gunners Cove "East and West Gunners Pit" discovery zones (the "Gunners Pit Zone"). New samples are described as sheared black shale and polymictic breccia with up to 10% pyrite in the form of nodules, cubes and stringers. The samples were collected during a recent visit while Company personnel were evaluating the newly discovered Bazooka Zone (see White Metal news release dated July 3, 2018), where the Company reported highly anomalous gold values over an interpreted strike length of 1 kilometre.

Evidence to date suggests that the Gunners Cove Gold Project represents an extensive and new unexplored gold system which the Company has traced intermittently for approximately 18 kilometres along strike and is locally up to 1.3 kilometres wide. To date, fifteen (15) new areas of gold mineralization have been discovered, of which three (3) have now been identified as high-priority follow up targets. The three priority zones are, from north to south, the Gunners Pit Zone, the Stephens Zone and the Bazooka Zone.

Given the early success on the Project, the Company is planning an aggressive channel sampling program on the three above mentioned priority targets as well as the new Totem Zone, should assay results warrant. Technical personnel for the Company have determined that this surface program will be the best way to properly evaluate the gold tenure and continuity of the various gold zones, as well as assist in the delineation of targets for future diamond drilling. The channel sampling program will commence as soon as practicable and results will be released as they become available.

Since the initial gold discovery in September 2017, the Company has had excellent success not only in making new discoveries, but extending the area of gold mineralization substantially at the Gunners Cove Gold Project. The evaluation of the geological controls of the known gold mineralization can be summarized as follows:

  • Anomalous and moderate grade gold assays associated with 2% to 10% pyrite nodules, discontinuous stringers, fragments and cubic crystals.

  • Gold zones are hosted in a geological distinctive unit of chaotic, multi-lithic breccia with a predominantly graphitic and mudstone matrix. This unit is interpreted to be associated with regional thrust faulting and is referred to as a melange.

  • The higher pyrite content appears to be associated with a well-foliated (sheared) graphitic melange.

  • This melange can be mapped over horizontal widths of up to 1.3 km, however, the full extent of the melange is not understood at this time. The unit appears to be located at the base of a sedimentary-ultramafic package (thrust sheet) and has been extended as a discontinuous unit over an area measuring approximately 18 km by 3 km.

  • Anomalous silver, copper and molybdenum are also associated with the gold mineralization.

Jean-Pierre Colin, President and CEO of the Company, stated, "Since the initial gold discovery in September 2017, White Metal has had an enviable success of discovering several new mineralized gold zones surrounded by excellent infrastructure and located in one of the best mining jurisdictions in the world. We look forward with great enthusiasm to further explore this very prospective land package."

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 National Instrument 43-101.

For more information in regards to the Gunners Cove Property, you can visit the company's Web Page at www.whitemetalres.com.

About White Metal Resources Corp (TSXV: WHM):

White Metal Resources Corp is a junior exploration company exploring in Canada and currently has 39,855,240 common shares issued and outstanding.

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

"Michael Stares"
Michael Stares, Director

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 NEWS 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 projection

For further information contact:
Michael Stares
684 Squier Street
Thunder Bay, Ontario, Canada, P7B 4A8
Phone: (807) 628-7836
Fax (807) 475 7200

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