Mr. Michael Rowley reports

GROUP TEN REPORTS 8 METERS OF 3.65 G/T PLATINUM, PALLADIUM, AND GOLD, AND 26.8M OF 0.98% NICKEL AND 0.45% COPPER, IN DRILL RESULTS FROM THE IRON MOUNTAIN TARGET AREA OF THE STILLWATER WEST PROJECT IN MONTANA, USA

Group Ten Metals Inc. has released results from the Iron Mountain target area on the east side of the Stillwater West platinum-group-element-nickel-copper project, adjacent to Sibanye-Stillwater's high-grade platinum group element mines in Montana. This is the fourth in a series of planned news releases to report results of 2018 exploration programs as well as continuing data synthesis and modelling work at the company's flagship project. Highlights include:

• Past shallow drilling at the HGR target includes eight metres of 3.65 grams per tonne platinum, palladium and gold, plus 0.16 per cent combined nickel and copper as well as 0.013 per cent cobalt for 4.46 grams per tonne total platinum equivalent (TotPtEq), or 1.08 per cent total nickel equivalent (TotNiEq), starting at surface. Mineralization in this interval is directly comparable with the observed grades on Platreef deposits in the Bushveld complex of South Africa at Anglo American's Mogalakwena mine and Ivanhoe's Platreef mine, which are located in a similar geological setting.
• Deeper drilling in the 1970s at the HGR target returned long intervals of nickel-copper sulphide mineralization -- which were not sampled at the time for other metals, including PGEs -- intercepting 259.1 metres grading 0.25 per cent nickel and 0.20 per cent copper (0.35 per cent TotNiEq or 1.44 grams per tonne TotPtEq), starting at 15.2 metres of depth and ending in mineralization, including 26.8 metres at 0.98 per cent nickel and 0.45 per cent copper (1.21 per cent TotNiEq or 4.96 grams per tonne TotPtEq) in hole 355-64.
• Resampling of core from 1970s drill holes at the HGR target reports palladium values from intercepts of significant nickel-copper sulphide mineralization ranging up to 2.7 grams per tonne in hole 355-64. Additional drilling is required to better define the content of PGEs and other target commodities at the HGR target.
• Two thousand eighteen and historic rock samples returned high-grade results, with 17 samples over two grams per tonne PGE plus gold, ranging up to 95.8 grams per tonne platinum, palladium and rhodium (27.8 grams per tonne platinum, 62.2 grams per tonne palladium and 5.78 grams per tonne rhodium) at the HGR target.
• Past drilling at the HGR target defines an approximately 750-metre-by-400-metre area within a larger area defined by coincident geophysical (conductive high) and geochemical soil anomalies that appears to connect with similar anomalies at the Iron Mountain Central target located about one kilometre to the west. The HGR target is open for expansion in all directions, including to the east, in the direction of an adjacent kilometre-scale geophysical conductive high anomaly that remains untested, and to the west, along the layered stratigraphy of the Stillwater complex toward the Iron Mountain Central target.
• Results confirm that the geophysical conductive highs are targeting high-sulphide mineralization and that the scale of the conductive anomalies is comparable with deposits at Platreef. The Iron Mountain target area is a priority for follow-up work in 2019, based on the potential to rapidly expand known mineralized zones.

Michael Rowley, president and chief executive officer, commented: "The Iron Mountain target includes some of the most compelling examples to date of the potential we see across the 25-kilometre-long Stillwater West project, with multiple long intervals of nickel and copper sulphide mineralization, including thick intercepts enriched in platinum, palladium, cobalt, gold and rhodium. Drill data compiled and modelled by Group Ten report 33 intervals with over 50 gram-metre TotPtEq grade thickness and 13 intervals with over 100 gram-metre TotPtEq in the Iron Mountain target area, with many holes beginning and ending in mineralization.

"Shallow, more recent drill holes show grades comparable to deposits at Platreef over significant widths, including multigram-per-tonne platinum, palladium and gold, along with nickel, copper and cobalt values, starting at surface. Deeper drilling from the 1970s demonstrates wide intervals of nickel and copper sulphide mineralization with associated PGEs that were previously only selectively sampled. Taken together, the drilling and surface sampling at the Iron Mountain target area demonstrate the presence of Platreef-style grade with potential bulk-tonnage scale at Stillwater West. Drill-defined mineralization at the HGR and Central targets is open for expansion in all directions, including to the east, towards a geophysical conductor that has never been drill tested, and to the west, following the magmatic layers of the Stillwater complex.

"The Iron Mountain target area, along with the Chrome Mountain and Camp zone target areas, is a top priority for work in 2019, as we see the potential to rapidly expand known mineralization and quickly advance targets to resource delineation stage. We look forward to reporting further updates in the very near future."

Iron Mountain overview

The 2018 exploration program, the company's first at Stillwater West, focused on exploration of the lower Stillwater complex, where Group Ten sees the potential for much larger mineralized systems than has been previously recognized in the district, based on work to date and known geological similarities between the Stillwater igneous complex and the Bushveld igneous complex in South Africa. The northern limb of the Bushveld complex, a region known as Platreef, has seen rapid development as a world leader in low-cost platinum and palladium supply since the 1990s with the discovery and development of Anglo American's Mogalakwena PGE-Ni-Cu mine and Ivanhoe's Platreef PGE-Ni-Cu mine that is now construction.

Group Ten is targeting a Platreef-style setting, in which bulk-tonnage sulphide mineralization in the Lower Stillwater complex may be associated with interaction between the layered magmatic system and the basement country rocks. Interaction and assimilation of basement country rocks is an important component of the Platreef deposits in the Bushveld complex, where the country rocks may be in place as the footwall or occur as large rafts within the layered magmatic stratigraphy. The potential for this setting at Iron Mountain is supported by deep conductive geophysical targets at the two most advanced targets, being the Iron Mountain Central and HGR targets. A series of deeper drill holes at the HGR target demonstrates further potential by drilling through iron formation, in what had been interpreted as basement country rocks before returning to mineralized layered ultramafic rocks below.

The approximately 2.9-kilometre-wide Iron Mountain target area is one of eight major target areas identified by Group Ten as having potential for large PGE-Ni-Cu Platreef-style deposits across the ultramafic and basal series of the Stillwater complex. These target areas are highlighted by strong, multikilometre electromagnetic conductive signatures that are characteristic of large bodies of interconnected to strongly disseminated sulphides. The presence of significant nickel and copper sulphide mineralization corresponding to, and associated with, the electromagnetic conductors within these target areas is confirmed in historic drill results compiled by the company. Assay data are less comprehensive for other elements, although thick intervals enriched in platinum, palladium, gold, cobalt and chromium are demonstrated in target areas where data exist. No systematic drill test of the conductive high geophysical anomalies has been conducted to date in the Iron Mountain target area.

The potential for significant PGE-Ni-Cu deposits is further strengthened by the correlation of the conductive geophysical targets with highly elevated levels of platinum, palladium, gold, nickel, copper and chromium in soil and rock sampling across much of the Stillwater West project.

The attached tables summarize data from 46 drill holes within the Iron Mountain target area that demonstrate strong mineralization, with 13 drill holes returning intercepts of greater than 100 gram-metre TotPtEq grade thickness (or 24 per-cent-metre TotNiEq). Grade-thickness values are based solely on nickel and copper data in six of those holes, including hole 355-64, which was drilled in 1976 at the HGR target and returned an exceptional 371.8 gram-metre TotPtEq (or 90.7 per-cent-metre TotNiEq). Grade-thickness values, determined as grade times thickness, of 25 gram-metre or more are considered economically significant, and values of 100 to 300 gram-metre are considered exceptional. Grade-thickness values at the adjacent J-M Reef mines average approximately 34 gram-metre palladium and platinum.

Rock sample results from the Iron Mountain target area confirm the presence of significant platinum, palladium, nickel, copper and cobalt mineralization, with 17 samples over two grams per tonne PGE plus gold -- and four over 10 grams per tonne PGE plus gold -- ranging up to 95.8 grams per tonne combined platinum, palladium and rhodium in one sample at the HGR target (see attached table). In addition, testwork indicates a consistent ratio of rhodium content relative to platinum values, with 13 samples returning rhodium results of 0.47 gram per tonne or higher. Rhodium values have not been included in the calculation of metal equivalents in the attached tables.

HGR target

The HGR target is the most advanced within the Iron Mountain target area, with 21 drill holes returning over 25 gram-metre TotPtEq grade thickness within an approximately 750-metre-by-400-metre area within a larger area defined by coincident geophysical (conductive high) and geochemical soil anomalies that is open in all directions and appears to connect with similar anomalies at the Iron Mountain Central target. Mineralized intervals range from 26.7 to 259.1 metres across these holes at grades ranging from 0.12 per cent to 1.43 per cent combined nickel and copper, with an average length of 94 metres at 0.26 per cent combined nickel and copper. Assay data for other commodities are limited, as the older, deeper holes were generally assayed only selectively for nickel and copper, although subsequent PGE assays were completed on select intervals. Shallower, more recent holes provide complete assay data.

Ten Amax drill holes from the 1970s intersected significant intervals of nickel and copper sulphide mineralization near the basal contact of the Stillwater complex, including hole 355-59, which returned 33.5 metres of 0.77 per cent nickel and 0.65 per cent copper. Hole 355-64, drilled approximately 160 metres south of hole 355-59, returned 26.8 metres of 0.98 per cent nickel and 0.45 per cent copper within a broader interval of 259.1 metres of 0.25 per cent nickel and 0.20 per cent copper that starts at 15.2 metres of depth and ends in mineralization (see attached table). Although Amax did not systematically analyze for PGEs, subsequent work reported values ranging up to 2.7 grams per tonne palladium in hole 355-64. Based on the observed ratio of platinum to palladium in drill core with complete assay results in the HGR target area, total PGE values are projected to be approximately four grams per tonne for this sample.

Eighteen more recent holes provide valuable confirmation of the PGE potential of the HGR target by reporting complete assay data, including eight metres of 3.65 grams per tonne 3E, 0.14 per cent nickel, 0.03 per cent copper and 0.013 per cent cobalt, starting at surface in hole IM2002-07, an 84.5-metre hole drilled in 2002 that is located about 110 metres from hole 355-64. Hole IM2002-07 is also about 60 metres from hole 355-62, which returned 220.8 metres of 0.16 per cent nickel and 0.03 per cent copper.

The PGE potential of the HGR target area is further confirmed by hole IM2002-12, which returned 4.1 metres of 3.09 grams per tonne PGE plus gold, 0.14 per cent nickel, 0.02 per cent copper and 0.009 per cent cobalt.

The HGR target area is a priority for work in 2019, as it demonstrates the widest and highest-grade mineralization intercepted to date at Stillwater West, with grades that are directly comparable with Platreef. HGR shows excellent potential to advance quickly to the resource delineation stage with further drilling at known mineralized zones that are open at depth and along strike, where Group Ten is targeting areas to the east and west, outside of the core HGR target area, as defined by drilling to date. To the east, the company is targeting a kilometre-scale conductive high anomaly, which was identified in a subsequent geophysical survey, that remains untested.

The area to the west of the HGR target area also remains untested and is highly prospective, with rock sample results of up to 27.8 grams per tonne platinum, 62.2 grams per tonne palladium and 5.78 grams per tonne rhodium in one sample taken about 400 metres to the west of the HGR target, toward the Iron Mountain Central target. Geologic compilation and mapping by Group Ten demonstrate that the layered magmatic stratigraphy of the Stillwater complex runs laterally through both target areas, potentially connecting the high-grade results within specific layers at both targets and highlighting the potential of the area in between, which has not been drill tested.

Iron Mountain Central target

Work to date at the Iron Mountain Central target centres on three drill holes with over 100 gram-metre TotPtEq grade thickness in long intervals of platinum, palladium, gold and cobalt in nickel and copper sulphide mineralization: IM2007-01 returned 226.2 metres of 226.1 gram-metre TotPtEq; IM2007-02 returned 123.5 metres of 130.1 gram-metre TotPtEq; and IM2007-03 returned 124.4 metres of 127.0 gram-metre TotPtEq (see attached table). Consistent cobalt values of 0.013 per cent to 0.016 per cent are shown across these intervals, adding potentially significant co-product value.

The Iron Mountain Central target is open for expansion to the east, toward the HGR target, where an area approximately one kilometre by 640 metres returned highly elevated platinum, palladium and gold levels in soil that are coincident with a geophysical conductive high anomaly that remains untested. A much larger nickel-and-copper-in-soil anomaly is also shown across the area, following the broader Peridotite zone. In addition, geological mapping and modelling work by Group Ten has targeted specific layers of the stratigraphy within the complex for high-grade mineralization, based on known results at both the Iron Mountain Central target and the HGR target to the east, generating compelling targets on the intervening ground.

Intrusive dunite targets

Geologic mapping by the company in 2018 identified multiple intrusive dunites across the Stillwater West project, including the Iron Mountain target area. Intrusive dunites formed the first mines in South Africa's Bushveld igneous complex and were known for their spectacular PGE grades, along with other commodities. No systematic exploration has been completed for intrusive dunites at the Stillwater complex, although occurrences have been noted in past geophysical and geological sampling surveys. Follow-up of these targets is a priority for Group Ten, based on their potential for both grade and size.

Intercepts with grade-thickness values over 25 gram-metre TotPtEq are presented above. Total platinum equivalent and total nickel equivalent calculations reflect total gross metal content using metal prices as follows (all in U.S. dollars): $6 per pound nickel, $3 per pound copper, $20 per pound cobalt, $1,000 per ounce platinum, $1,000 per ounce palladium and $1,250 per ounce gold. Values have not been adjusted to reflect metallurgical recoveries. Total metal equivalent values include both base and precious metals, where available. Results labelled "n/a" were not assayed for that metal. Total platinum equivalent grade thickness was determined by multiplying the thickness (in metres) by the total platinum equivalent grade (in grams per tonne) to provide gram-metre values, as shown. Total nickel equivalent grade thickness was determined by multiplying the thickness (in metres) by the total nickel equivalent grade (in per cent) to provide per-cent-metre values, as shown. IM series drill holes were conducted by Group Ten's qualified person and are not considered historic. Three hundred fifty-five series drill holes are considered historic and have not been independently verified by Group Ten.

Cliff target

Reconnaissance geological sampling and mapping by Group Ten in 2018 identified a zone of distinctive mineralization located near the upper contact of the ultramafic series, which comprises pegmatoidal magmatic rocks with visible sulphides. This stratigraphic package has been traced on the surface across at least 300 metres of strike length and remains open. Limited sampling from the Cliff target returned consistently anomalous PGE, nickel, copper and cobalt mineralization in 2018 fieldwork. Follow-up prospecting and mapping work are planned for 2019, with particular focus on highly elevated levels of metals shown in soil anomalies immediately to the east.

Reef-type targets

The company is also targeting higher-grade, reef-type PGE mineralization, which has been documented in the Iron Mountain target area. The layered magmatic stratigraphy of the Stillwater West project allows Group Ten to target both reef-type PGE-Ni-Cu mineralization in the upper layers and sulphide-hosted, bulk-tonnage mineralization in the lower layers, based on the model developed to date.

Next steps

Group Ten has completed the initial phase of data synthesis and modelling work on the priority Chrome Mountain, Camp zone and Iron Mountain target areas, where the company sees the potential to expand known drill-defined mineralization in terms of both scale and grade. Planning is under way for the next phase of drill testing, with the objective of offsetting higher-grade mineralized intercepts that may be rapidly advanced to a resource delineation stage. Additional synthesis and modelling work is under way on less advanced areas at Stillwater West. News flow will continue to report on this effort, in addition to announcing exploration plans.

About Stillwater West

The Stillwater West PGE-Ni-Cu project positions Group Ten Metals as the second-largest landholder in the Stillwater complex, adjoining and adjacent to Sibanye-Stillwater's world-leading Stillwater, East Boulder and Blitz platinum group elements mines in south-central Montana. With more than 40 million ounces of past production as well as current measured and indicated resources, plus another 49 million ounces of inferred resources, the Stillwater complex is recognized as one of the top regions in the world for PGE-Ni-Cu mineralization, alongside the Bushveld complex and Great dike in southern Africa, which are similarly layered intrusions. The J-M reef, as well as other PGE-enriched sulphide horizons in the Stillwater complex, share many similarities with the highly prolific Merensky and UG2 reefs in the Bushveld complex, while the lower part of the Stillwater complex also shows the potential for much larger-scale disseminated and high-sulphide PGE-Ni-Cu-type deposits, possibly similar to Platreef in the Bushveld complex. Group Ten Metals' Stillwater West property covers the lower part of the Stillwater complex, along with the Picket Pin PGE reef-type deposit in the upper portion, and includes extensive historic data, including soil and rock geochemistry, geophysical surveys, geologic mapping and historic drilling.

About Group Ten Metals Inc.

Group Ten Metals is a TSX Venture Exchange-listed Canadian mineral exploration company that is focused on the development of high-quality platinum, palladium, nickel, copper, cobalt and gold exploration assets in top North American mining jurisdictions. The company's core asset is the Stillwater West PGE-Ni-Cu project, which is adjacent to Sibanye-Stillwater's high-grade PGE mines in Montana, United States.

Quality control and quality assurance

Two thousand eighteen rock chip samples were analyzed by Bureau Veritas Mineral Laboratories in Vancouver, B.C. Samples were crushed and split, and a 250-gram split pulverized with 85 per cent passing 200 mesh. Gold, platinum and palladium were analyzed by fire assay (FA350) with ICP finish. Selected major and trace elements were analyzed by peroxide fusion with ICP-EB finish to insure complete dissolution of resistate minerals. Following industry quality control and quality assurance standards, blanks, duplicate samples and certified standards were also assayed.

Two thousand two to 2008 drilling was conducted by Group Ten's qualified person while working for Beartooth Platinum. Before 2001, drill results are considered historic and have not been independently verified by Group Ten. Mike Ostenson, PGeo, is the qualified person for the purposes of National Instrument 43-101. He has reviewed and approved the technical disclosure contained in this news release.

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