Bolt Metals Builds on Copper Project Holdings with Advanced U.S. based Asset

Property Highlights

• Historic drill intercept; 11.7m of 1.2% copper, 0.20g/t gold and 0.04% cobalt

• 5,000m of preserved historic drill core never assayed for copper

• 20km gossanous zone trend of mineralization

• Comparable target is Teck's long-lived Sullivan Mine

• Road accessible via interstate highway, 1 hour from major airport

"The acquisition of the Soap Gulch property provides the Bolt with another advanced and highly prospective copper asset in a tier-one mining jurisdiction," remarked Branden Haynes, Bolt's President and CEO. Soap Gulch like our recently acquired Silver Switchback copper project is a drill-ready, easily accessible, low cost to explore property that we anticipate should provide additional near-term re-rating opportunities for the Company."

Soap Gulch Details

The road accessible Soap Gulch property lies within Silver Bow and Madison Counties, 32 kilometres south of Butte, Montana, the location of the world-renowned Butte copper mine. It is comprised of 216 Federal Unpatented Lode Claims and totals 4,320 acres.

More specifically, the Soap Gulch Property:

a) is underlain by the important Proterozoic meta-sedimentary rocks. These rocks are of significance such that they are age equivalent to the important past producing Sullivan Mine in British Columbia which over its lifetime, from 1909-2001, produced 26 million tonnes of lead, zinc and silver concentrates. By the time the Sullivan Mine closed in 2001, it had become one of the largest underground mines in Canada with almost 500 kilometres of tunnels1;

b) has significant historic drill and trench results including up to; 4.7% copper, 19% zinc, 2.3 g/t gold, and 0.3% cobalt;

c) has ease of access to the properties;

d) is within a mining friendly jurisdiction;

e) was previously held by major mining companies for long periods of time, and whom continue to express interest today; and

f) has a number of significant geophysical anomalies identified in a 2018, 327-line kilometre, high resolution airborne geophysical survey.

Information in this press release is based on the January 3, 2019, NI 43-101 Technical report for the Soap Gulch Property, Silver Bow County & Madison County, Montana, USA authored by Dean Besserer B.Sc., P. Geol.

Until the original historic data has been recovered and/or archived drill core can be re-logged, photographed and sampled, the historic intercepts should not be relied upon. The company has not completed any quality assurance program or applied quality control measures to the historical data.

1 https://www.teck.com/operations/canada/legacy/sullivan-mine/sullivan-mine-legacy

Qualified Person

Mr. Garry Clark, P. Geo., a member of the Company's Board of Directors, a "Qualified Person" under NI 43-101, has reviewed the technical contents of this news release and has approved the disclosure of the technical information contained herein.

Bolt Metals Corp.

Branden Haynes - Director and CEO
(604) 817-1595
info@boltmetals.com

Reader Advisory

This news release may contain statements which constitute "forward?looking information". The words "may", "potential", "should", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect", and similar expressions, are intended to identify such forward?looking statements. Investors are cautioned that any such forward?looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward?looking statements. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.

The Canadian Securities Exchange has not approved or disapproved this news release.

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