Metallis Drills Into Mineralized Monzonite, Ramps Up Exploration Program

VANCOUVER, British Columbia, Sept. 01, 2017 (GLOBE NEWSWIRE) -- Metallis Resources Inc. (TSX-V:MTS) (“Metallis” or the “Company”) is pleased to provide the following progress update on its 2017 exploration and drilling program at its 100% owned Kirkham Property in the Golden Triangle’s Eskay Camp.

Highlights are as follows:

• The first two drill holes have been completed at the Cliff gold-rich copper porphyry target, reaching a depth of 418 meters in KH-17-02, and a third drill hole has started from a lower elevation further to the south;
• Drill core in KH-17-01 and KH-17-02 intersected mineralized and altered monzonite throughout and supports the theory that mineralization improves with depth as the alteration becomes more potassic. Assays will be reported as soon as they are received and confirmed;
• Crews continue to prepare for drilling at the King high-grade gold target to the north, adjacent to the 6-km-long Hawilson monzonite;
• New surface exploration program is launched.

King East Target Area

Following a fresh interpretation of local and regional geophysical surveys, Metallis is launching an immediate geological mapping and surface sampling program in the King East area, approximately 1 km from the King gold target, where a cluster of airborne magnetic anomalies are aligned parallel to the regional Eskay Rift. The flanks of the Hawilson porphyry are considered very prospective for high-grade gold-bearing shear/vein deposits.

Technical Team Addition

Metallis is pleased to announce that Dr. Abdul Razique, a specialist in northwest British Columbia mineral systems who has been very active in the Eskay Camp, has joined the on-site team and is making a valuable contribution. Dr. Razique has over 20 years’ experience in mineral exploration and the mining industry with various companies, including BHP Minerals, Antofagasta Minerals, Garibaldi Resources and Evrim Resources. He was a key member of the exploration team that discovered one of the world's largest porphyry Cu-Au (Mo) deposits at Reko Diq in western Pakistan.

Qualified Person

Technical aspects of this news release have been reviewed and approved by David Dupre, P.Geo., designated as a qualified person under National Instrument 43-101.

About the Kirkham Property

The 10,600 hectare Kirkham Property is located about 65 km north of Stewart within the prolific Golden Triangle. The northeast corner of Kirkham is within 12 km of the Eskay Creek mine while the eastern border is within 15 to 20 km of Seabridge Gold’s KSM deposit and Pretium Resources’ Brucejack mine which is now in production.

About Metallis

Metallis Resources Inc. is a Vancouver-based company focused on the exploration of gold, copper and silver at its 100% owned Kirkham Property situated in northwest British Columbia’s Golden Triangle. Metallis trades under the symbol MTS on the TSX Venture Exchange and currently has 23,398,617 shares issued and outstanding.

On behalf of the Board of Directors:

/s/ “Fiore Aliperti”
Chief Executive Officer, President and Director

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This Press Release may contain statements which constitute ‘forward-looking’ statements, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including quarterly and annual Management’s Discussion and Analysis, which may be viewed on SEDAR at www.sedar.com Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX-V Stock Exchange has neither approved nor disapproved the contents of this news release.

For further information:
Tel: 604-688-5077
Email: info@metallisresources.com
Web: www.metallisresources.com