Ms. Caitlin Jeffs reports

RED METAL RESOURCES ANNOUNCES UPSIZED FINANCING

Red Metal Resources Ltd., due to overwhelming positive response from investors, has increased the size of its previously announced non-brokered private placement from $750,000 to up to $1-million. The company now intends to issue up to 16,666,667 units at a price of six cents per unit for total gross proceeds of up to $1-million.

Each unit will consist of one common share in the capital of the company and one common share purchase warrant. Each warrant will be exercisable to acquire one additional common share at the following exercise prices: nine cents per share for the first 12 months from the date of issuance; 12 cents per share for the period from 12 to 24 months after issuance; and 15 cents per share for the period from 24 to 36 months after issuance.

In connection with the offering, the company may pay finders' fees subject to regulatory and exchange approval.

The company intends to use the proceeds of the offering to finance general working capital requirements and advance exploration on Carrizal, its flagship Chilean copper project.

Cheif executive officer Caitlin Jeffs stated: "We are very encouraged by the strong support shown for this financing. With a pro-business and mining-focused government in Chile and copper reaching record prices, we believe it is the ideal time to accelerate work on our Chilean copper portfolio. The increased financing will allow us to advance exploration at Carrizal and support ongoing corporate initiatives."

All securities to be issued under the offering will be subject to a four-month hold period in accordance with applicable Canadian securities laws.

About Red Metal Resources Ltd.

Red Metal Resources is a mineral exploration company focused on growth through acquiring, exploring and developing clean energy and strategic minerals projects. The company's current portfolio include the 100-per-cent-owned Ville Marie claims in Quebec, Canada, as well as company's Chilean projects, which are located in the prolific Candelaria iron oxide copper-gold (IOCG) belt of Chile's coastal Cordillera. Red Metal is quoted on the Canadian Securities Exchange under the symbol RMES, on OTC Link alternative trading system on the OTC Pink marketplace under the symbol RMESF and on the Frankfurt Stock Exchange under the symbol I660.

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