Mr. Tim Fernback reports

LICO ENERGY METALS - INTERSECTS 7.64 % COBALT OVER 0.26 M AT GLENCORE BUCKE PROPERTY

Lico Energy Metals Inc. has released assay results for diamond drill holes GB17-06 to GB17-07 from the recently completed drill program on the Glencore Bucke property located six kilometres northeast of Cobalt, Ont., and provides a drilling update.

"We are very pleased with the higher-grade cobalt mineralization that has been intersected at our Glencore Bucke property," said Tim Fernback, president and chief executive officer of Lico. "Not only have we intersected cobalt-style mineralization in every drill hole completed, we are happy to report that four of the seven holes assayed to date have higher than average grades of more than 1 per cent cobalt. We are also finding very good silver and copper results in our assays which is equally exciting. So far, we have drilled a combined 3,728 m with 30 drill holes on our Glencore and Teledyne Ontario properties as part of our 2017 flow-through work program."

A summary of the most significant results of the recent drill core assays are:

• GB17-07 -- 1.11 per cent cobalt, 16.6 parts per million silver over 2.0 metres, including 7.64 per cent Co, 9.1 ppm Ag over 0.26 m;
• GB17-06 -- 4.45 per cent Co, 34.2 ppm Ag over 0.30 m from 44.40 to 44.70 m;
• GB17-06 -- 0.25 per cent Co over 1.75 m, including 0.58 per cent Co, 28.9 ppm Ag over 0.5 m.

On the Glencore Bucke property, the company has completed a total of 21 diamond drill holes totalling 1,900 m, testing the main and northwest zones. The drilling has confirmed and extended the cobalt mineralization on the property and which are consistent with historical grades and widths in the overall Cobalt camp. Visual Cobalt-camp-style mineralization has been noted in every drill hole that the company has logged to date. The drill program has been completed as planned. The drill program was designed to provide the company with sufficient drill hole information to create a geological model and a National Instrument 43-101-complaint resource estimate.

The results for diamond drill holes GB17-06 and GB17-07 are summarized in the associated table.

                      SUMMARY OF DIAMOND DRILL RESULTS
  
DDH        From       To   Core Length       Co       Ag       Cu       Zn       Pb
            (m)      (m)           (m)      (%)    (ppm)    (ppm)    (ppm)    (ppm)

GB17-06    22.5    24.25          1.75     0.25       12      288      132        6
incl.     23.25    23.75           0.5     0.58     28.9      714       39        6
GB17-06      29     29.5           0.5     0.34      0.6       44       32        2
incl.     29.25     29.5          0.25     0.60        1       84       31        2
GB17-06    30.5    30.75          0.25     0.53      0.5        4       38        2
GB17-06    44.4     44.7           0.3     4.45     34.2      460    2,600      159
GB17-06   45.75     48.6          2.85     0.02     53.7    1,798      393      829
incl.     45.75       47          1.25     0.03    109.9    3,344      801    1,558
GB17-07    40.5     46.2           5.7     0.00      2.9    1,640       18       44
GB17-07   81.25     83.4          2.15     0.00     11.5    2,313      111      641
GB17-07    98.5    100.5             2     1.11     16.6      971       82      103
incl.     99.79   100.05          0.26     7.64      9.1      441       44       16

Note 
Intervals reported represent core lengths and not true widths.

On the company's adjoining Teledyne property, a total of 1,828 metres have been completed in nine diamond drill holes. Drilling has intersected Cobalt-camp-style mineralization in each drill hole that has been logged to date. Diamond drilling is expected to continue testing the planned targets throughout the remainder of November.

Qualified person

The Glencore Bucke and Teledyne properties are managed by Joerg Kleinboeck, PGeo, Lico's qualified person, and supervised by Dwayne Melrose, director and head of the technical advisory board of Lico.

The overall drilling program will be conducted as part of Lico's flow-through financing and work commitments for the Glencore Bucke and Teledyne properties.

About Lico Energy Metals Inc.

Lico Energy Metals is a Canadian-based exploration company whose primary listing is on the TSX Venture Exchange. The company's focus is directed toward exploration for high-value metals integral to the manufacture of lithium-ion batteries.

The company is planning an exploration programs on a number of its properties over the next several months. The technical content of this news release has been reviewed and approved Mr. Kleinboeck, an independent consulting geologist and a qualified person as defined in National Instrument 43-101.

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