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White Metal Resources Corp
Symbol WHM
Shares Issued 122,104,750
Close 2021-03-23 C$ 0.13
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White Metal drills 39 m of 1.14% Cu at Taranis

2021-03-23 08:43 ET - News Release

Mr. Michael Stares reports

WHITE METAL REPORTS 1.54% CU AND 36 G/T AG OVER 31 METRES FROM THE TARANIS COPPER-SILVER PROJECT, NAMIBIA

White Metal Resources Corp. has received the first batch of assay results from six of 28 reverse circulation (RC) drill holes (total 3,226 metres) from its January to February, 2021, drilling program and results from the resampling of core from four historical diamond drill holes, all targeting the historical Okohongo Cu-Ag (copper-silver) deposit (see "Assays from resampled historical drill core and RC chip samples from recent drilling program" table). The 95-per-cent-owned Taranis copper-silver project, which includes the historical Okohongo copper-silver deposit, is located in northwestern Namibia and is defined by exclusive prospecting licence (EPL) 7071, covering about 19,850 hectares.

Michael Stares, interim president and chief executive officer of the company, stated: "I am pleased to see these very positive results from the resampling of historical drill core and initial results from the recently completed RC drilling program which has confirmed high-grade copper and substantial silver grades from the historical Okohongo Cu-Ag deposit. With the recent rise in copper and silver prices, we see this project adding important value to the company and making the project even more attractive to a potential partner interested in advancing it while the company focuses on its flagship property, the Tower Stock gold project, located in Northwestern Ontario, Canada."

           ASSAYS FROM RESAMPLED HISTORICAL DRILL CORE AND RC CHIP SAMPLES FROM RECENT DRILLING PROGRAM

Type/              Drill hole     From (m)      To (m)    Int. (m)      Cu (%)    Ag (g/t)    Pb (ppm)    Zn (ppm)
historical hole

Resampled core       INVD-017      208.00      216.00        8.00        0.61          46          55          93
                        incl.      214.00      216.00        2.00        1.24         118          79         124
Resampled core       INVD-018      188.00      192.00        4.00        0.19          10         558         127
                        incl.      190.00      192.00        2.00        0.30          19         891         116
Resampled core        TCD-013      101.00      130.00       29.00        0.63          13         205          89
                        incl.      104.00      105.00        1.00        1.14          57         598          79
                        incl.      110.00      111.00        1.00        1.14          21          51         133
                        incl.      116.00      118.00        2.00        1.57          12          97         124
                        incl.      123.00      124.00        1.00        1.91          13         157          99
Resampled core        TCD-016       33.00       64.00       31.00        1.54          36         173          97
                        incl.       35.90       50.00       14.10        2.45          58         118          99
                        incl.       39.00       40.00        1.00        5.10         123         106          71
New RC drilling/     OK20-P01       22.00       53.00       31.00        1.40        27.3         482         104
INVR-004                incl.       25.00       42.00       17.00        1.73          31         684         103
                        incl.       26.00       27.00        1.00        3.89        28.5         265          74
                        incl.       34.00       42.00        8.00        2.01        41.7         778         114
New RC drilling/     OK20-P02       71.00      110.00       39.00        1.14        12.9          46          83
INVR-005                incl.       73.00       79.00        6.00        3.12        23.2         111          76
                        incl.       73.00       74.00        1.00        4.71        12.8         199          76
New RC drilling/     OK20-P03      144.00      148.00        4.00        0.24         2.1          78         126
INVR-020                  and      187.00      196.00        9.00        0.59        13.5          68          89
                        incl.      195.00      196.00        1.00        1.70        32.6         153          96
New RC drilling/     OK20-P14                             No significant results
INVR-010
New RC drilling/     OK20-P18       25.00       29.00        4.00        1.96         1.4       1,229          31
INVR-036                incl.       26.00       27.00        1.00        7.55         3.5       2,080          22
                          and      126.00      135.00        9.00        0.50         7.9         788          82
                        incl.      130.00      132.00        2.00        1.23        13.1       2,880          77
                          and      148.00      167.00       19.00        0.96        14.8          18          80
                        incl.      159.00      164.00        5.00        2.18        27.3          28         121
                        incl.      162.00      163.00        1.00        5.97        70.2          25         141
New RC drilling/     OK20-P22      130.00      136.00        6.00        0.11         1.7          18          91
INVR-067                  and      157.00      168.00       11.00        0.30         9.5          48          72
                        incl.      166.00      167.00        1.00        0.94        32.8          29          92


The recently completed RC drilling (OK20-P series holes) on the property was aimed at twinning many of the RC drill holes that were used to calculate the 2011 historical mineral resource estimate (see the "Historical mineral resources for the Okohongo copper-silver project, Namibia" table) as reflected in the "Assays from resampled historical drill core and RC chip samples from recent drilling program" table.

Once the company receives all the results from the recently completed drilling program, it will begin the process of updating the historical mineral resources from the Okohongo Cu-Ag deposit to a current National Instrument 43-101 mineral resource estimate and technical report.

The Taranis copper-silver project is located in a very prospective area of northwestern Namibia. Although the primary target is the historical Okohongo copper-silver deposit, the company will be conducting reconnaissance work over the entire EPL (exclusive prospecting licence), including follow-up on a number of historical copper showings.

The historical Okohongo Cu-Ag deposit has been outlined by historical drilling which shows that it extends for over 600 metres in strike length and 400 metres down dip and is open in all directions (see INV Metals news release dated Aug. 3, 2011). Okohongo, situated within the Kaoko belt of northwest Namibia about 700 kilometres northwest of Windhoek, is hosted by metasedimentary stratigraphy and is considered to be analogous with the stratiform sediment-hosted Central African copper belt deposits of Zambia and the Democratic Republic of the Congo. This deposit contains historical inferred mineral resources of 10.2 million tonnes grading 1.12 per cent Cu and 17.75 grams per tonne Ag, using a 0.3-per-cent Cu cut-off (see "Historical mineral resources for the Okohongo copper-silver project, Namibia" table; INV Metals National Instrument 43-101 technical report, effective date March 31, 2011).

                HISTORICAL MINERAL RESOURCES FOR THE OKOHONGO COPPER-SILVER PROJECT, NAMIBIA

             Specific
Cut-off       gravity          Tonnes        Cu (%)        Ag (g/t)    Cu (tonnes)    Ag (ounces)    Category

0.0              2.45      11,691,539         1.01           15.85        117,645      5,957,874     Inferred
0.1              2.45      11,682,796         1.01           15.86        117,640      5,957,640     Inferred
0.2              2.45      11,453,414         1.02           16.13        117,219      5,940,047     Inferred
0.3              2.45      10,196,456         1.12           17.75        114,046      5,818,534     Inferred
0.4              2.45       9,535,538         1.17           18.66        111,731      5,719,226     Inferred
0.5              2.45       8,705,239         1.24           19.73        107,993      5,522,454     Inferred
0.6              2.45       8,142,684         1.29           20.50        104,877      5,366,572     Inferred
0.7              2.45       7,366,110         1.35           21.61         99,810      5,116,714     Inferred
0.8              2.45       6,379,793         1.45           23.16         92,402      4,750,190     Inferred

Source: NI 43-101 technical report on the Okohongo copper-silver property in northwest Namibia, INV Metals; 
        prepared by Caracle Creek International Consulting Pty. Ltd., South Africa, effective March 31, 2011.

The company is treating the tonnages and grades reported in the "Historical mineral resources for the Okohongo copper-silver project, Namibia" table as historical mineral resources. The inferred mineral resource estimate reported in the "Historical mineral resources for the Okohongo copper-silver project, Namibia" table for the Okohongo copper-silver deposit was prepared by qualified authors in 2011, conforming to CIM Definition Standards on Mineral Resources and Mineral Reserves as outlined in National Instrument 43-101, Standards of Disclosure for Mineral Projects. A qualified person has not done sufficient work to classify the historical estimates as current mineral resources and the company is not treating the historical estimates as current mineral resources. Investors are cautioned that the historical estimates do not mean or imply that economic deposits exist on the properties. The company has not undertaken any independent investigation of the historical estimates or other information contained in this news release, nor has it independently analyzed the results of the previous exploration work in order to verify the accuracy of the information. The company believes that these historical estimates and other information contained in this news release are relevant to continuing exploration on the property.

Sample analysis

Drill core and RC chip samples were sent to the Activation Laboratories Ltd. preparation lab in Windhoek, Namibia, and once prepared were sent to Actlabs in Ancaster, Ont., Canada, for analyses. The samples were first analyzed with four-acid near total digestion (1F2) with ICP-OES finish for Ag, Cu and a suite of 33 other elements. Subsequently, samples with Ag greater than 100 parts per million (above Ag upper detection limit) were analyzed with fire assay gravimetric (eight Ag) and Cu greater than 10,000 ppm (above Cu upper detection limit) were analyzed with sodium peroxide fusion with ICP-OES finish (eight-peroxide ICP). A quality control/quality assurance (QA/QC) program consisting of the regular insertion of certified reference material copper standards and blanks into the sample stream by the company was in place, as was the industry standard internal QA/QC practice used by Actlabs.

Qualified person

Technical information in this news release has been reviewed and approved by Dr. Scott Jobin-Bevans (PGeo), vice-president of exploration and a director of White Metal, who is a qualified person under the definitions established by the NI 43-101.

About White Metal Resources Corp.

White Metal Resources is a junior exploration company exploring in Canada and Southern Africa.

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