Starr Peak Expands Newmétal Property by Acquiring 100% Interest of Past-Producing Normétal Mine and Two Additional High-Grade Properties

The newly expanded land position in the center of Newmétal includes 10 claims covering 391.53 hectares, growing the property to a total of 74 mineral claims covering 2,279.53 hectares and now including the past-producing Normétal Mine, from which ~10.1M tonnes of 2.15% Cu, 5.12% Zn, 0.549 g/t Au, and 45.25 g/t Ag and the Normetmar showing, historic resource of 306,000 t grading 11% Zn was reported by Kerr Addison of which 48,200 t have been mined in 1990. Several gold intersections are reported including 2.19 g/t Au and 236 g/t Ag over 2.56 m including 3.47 g/t Au and 366 g/t Ag over 1.55 m (Source: Globex drilling 2007-2008, hole GN07-09).The newly acquired claims solidifies the land position of NewMétal property and add two additional gold prospective claim bloc eastward.

The Rousseau gold Property consists in a bloc of 12 claims covering 470.17 hectares and the Rollmac gold zone of 31,298 tonnes grading 11.99 g/t Au (historical non-compliant NI43-101, Northern Miner, July 13, 1992). Rollmac gold zone is described by historical work as a multiples gold bearing quartz veins system hosted in the Val-St-Gilles granodiorite. Historical work was focused on two principal veins, the Main Vein and the Mercier Vein, located 183 metres northeast of the main vein. Historical works and diamond drill hole made in 2008 confirm the present of several other gold bearing quartz vein without follow-up.

The Turgeon Lake gold Property, east of the Rousseau gold property consist of 2 claims covering 112.91 hectares. Grab samples at the water line are reported to have assayed up to 168.3 g/t Au, 30.2 g/t Au and 23.7 g/t Au (GM 52490). Drill hole LT-96-02 assayed 18.7 g/t Au over 3.09 m, including 68.9 g/t Au and 10.48 g/t Ag over 0.4 m (GM 54287).

Johnathan More, Chairman and CEO of Starr Peak commented,

"We are thrilled to add the past producer Normetal Mine and the Normetmar showing to our Newmetal Property. We now are strategically situated on trend and on strike between (and including) a past producing gold mine and Amex Exploration's world class discovery. Additionally, the addition of the Rousseau and Turgeon Lake Properties now defines Starr Peak as a major player in this district. The historical work is extremely impressive with very high grade gold being found and we will target these results to try to find a larger gold system. The successful techniques and new theories that have been instrumental in leading to the major discovery for our neighbor Amex Exploration will no doubt be applied to all of our properties."

Starr Peak, in association with Laurentia Exploration, has recently launched an initial program of compilation, prospecting, and geological mapping, and plans to complete an airborne EM survey and high-resolution MAG drone geophysics in the fall of 2020 in order to prepare for an inaugural drilling campaign in winter of 2021.

In exchange of the properties, Globex will receive $150,000 in cash payments ($50,000 on signing, $50,000 at 6 months and $50,000 at one year), 1.2 million Starr Peak shares (currently $1.64/share) and a 2.5% Gross Metal Royalty, 1% of which may be purchased by Starr Peak prior to commercial production for $1.5 million. Starr Peak will acquire 100% interest in the properties subject to the royalty (GMR).

The NewMétal Property is located in the Abitibi Greenstone Belt of Quebec, along the Chicobi Deformation Zone. The Property is directly adjacent to Amex Exploration Inc.'s Perron property, from which recently announced drill results include 44.22 g/t Au over 9.10 metres and 30.98 g/t Au over 8.50 metres.

The NewMétal Property is cross-cut by the Normetal Fault Horizon associated with gold and base metal mineralization along strike. The property is also located in the eastern extension of the Perron fault known to be a prolific gold bearing structure. Geology underlaying the Property consists of favourable rhyolite and mafic volcanic rocks, as well as diabase dikes and granitic intrusions. Two known mineral showings occur on the Property. The Rang I-Lots 44-57 showing was identified in diamond drilling in 1966, with samples reaching up to 0.02% Cu and 2.38% Zn over 0.15 metres in historical drillhole Sondage 1-66, and up to 1.02 g/t Au occurring over unknown widths in drillhole Sondage 93-05. The Perron-Desmeloizes-Nord showing is a surface showing identified in 1952 with select samples reaching up to 14.5 g/t Au.

Qualified Person
Alexis Paulin Bissonnette, Ing. (OIQ 5037621), an independent Qualified Person as defined by Canadian NI 43-101 standards, has reviewed and approved the geological information reported in this news release. The Qualified Person has not completed sufficient work to verify the historic information on the Property, particularly in regards to historical drill results. However, the Qualified Person believes that drilling and analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.

References
Perron-Desmeloizes-Nord:
http://sigeom.mines.gouv.qc.ca/signet/classes/I1103_index?format=COMPLET&type_reqt=U&mode=NOUVELLE&l=A&entt=GM&numr_utls=2755180&alias_table_crit=F4E02&mnen_crit=NUMR_INTER&oper_crit=EGAL&valr_crit=4018

Rang I-Lots 44-57:
http://sigeom.mines.gouv.qc.ca/signet/classes/I1103_index?format=COMPLET&type_reqt=U&mode=NOUVELLE&l=A&entt=GM&numr_utls=2755180&alias_table_crit=F4E02&mnen_crit=NUMR_INTER&oper_crit=EGAL&valr_crit=4019

Amex Exploration Perron Project:
Amex Exploration Inc. Press Releases dated July 16, 2020 and May 21, 2019

Normetal Mine:
Summary Report, Normetmar Project, January 1988 by L. Boivin

On Behalf of the Board of Directors of Starr Peak Exploration Ltd.,

"Johnathan More"

Johnathan More
Chairman and Chief Executive Officer

About Starr Peak Exploration Ltd.

Starr Peak Exploration Ltd. is a Canadian based mineral exploration company focused on the acquisition and exploration of precious and base metal mineral deposits. The primary objective of the Company is to acquire, explore and develop high potential and quality gold deposits and projects in the Americas. The Company is committed to create long term shareholder value through mineral discoveries.

Neither the 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 the content of this news release.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered 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 in the United States, or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.

Cautionary Note Regarding Forward-Looking Information:

This press release contains forward-looking information based on current expectations, including the use of funds raised under the Offering. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, Power Metals assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.

Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to several factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com.

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The TSXV has neither reviewed nor approved the contents of this press release.

SOURCE Starr Peak Exploration Ltd.



Contact
Johnathan More, Chairman & CEO, Tel: 646-661-0409, https://www.starrpeakexploration.com/