Mr. Michael Stares reports

WHITE METAL PARTNER NORONEX CONTINUES DRILLING AT DORWIT COPPER-SILVER PROJECT, NAMIBIA WITH TWO RIGS AT WITVLEI PROPERTY AND INITIAL RESULTS CONFIRMING SOIL ANOMALIES

White Metal Resources Corp. has provided an exploration update from its Australian joint venture partner Noronex Ltd. on the DorWit copper-silver project, located in the Kalahari copperbelt of central Namibia (see Noronex's news release dated Nov. 16, 2021). The Namibian project comprises three exclusive prospecting licences (EPLs) that cover 72,000 hectares, referred to as the Witvlei (EPL 7028 and EPL 7029) and Dordabis (EPL 7030) properties. The project is prospective for sedimentary-hosted copper-silver mineralization within the prolific Kalahari copperbelt that spans Namibia and Botswana. The focus of the current exploration efforts will be on the Witvlei property, which comprises EPL 7028 and EPL 7029.

Highlights:

• Initial assays received for first 10 holes (approximately 1,900 metres) of an approximately 60-hole (approximately 12,000 metres) reverse circulation (RC) drilling program at the Witvlei property;
• Maiden drilling at the greenfield Otjiwaru property intersected anomalous copper, confirming the soil geochemistry is reflecting underlying bedrock anomalies with one drilling intercept of 7.0 m grading 0.5 per cent copper; further results are pending;
• Two rigs are currently finalizing the drilling program at the Gemboksvlei property (21 holes for 4,200 metres) and next move to the Okasewa South property to test high-priority copper geochemical soil and geophysical IP (induced polarization) chargeability targets; Okasewa South is located directly south of the known Okasewa copper deposit, which has an existing JORC (Joint Ore Reserves Committee) (2012) mineral resource of 4.4 million tonnes at 1.2 per cent copper (see Noronex's news release dated March 8, 2021);
• Over 7,000 metres of the 12,000-metre planned drilling program have now been completed at the Otjiwaru, Christiadore and Gemboksvlei properties;
• Drilling is planned to continue in coming weeks at Okasewa South and then move to the high-priority targets at the Dalheim property.

Michael Stares, president and chief executive officer of White Metal, stated: "We are very pleased with the progress that the Noronex technical team has made in the early stages of exploration and drilling programs on the DorWit copper-silver project in the Kalahari copper belt of Namibia. In a very short time, we have seen Noronex establish a significant presence in country, build a high-quality team, explore aggressively and rapidly grow our copper project portfolio. The recent addition of a second rig has accelerated drilling at Witvlei and we are looking forward to providing further updates on the Witvlei exploration program as Noronex continues to explore the project."

Background

The Namibian projects, comprise three exclusive prospecting licences (EPLs 7028, 7029 and 7030) covering 72,000 hectares that are prospective for sedimentary copper-silver mineralization along the prolific Kalahari copperbelt that spans Namibia and Botswana. The Namibian project contains a current JORC (2012) inferred mineral resource of 10 million tonnes grading 1.3 per cent copper (see Noronex's news release dated March 8, 2021). The focus of the current exploration efforts is the five targets on the Witvlei copper-silver project (EPLs 7028 and 7029).

Otjiwaru drilling

First assay batches have been returned from drilling at Otjiwaru, with results received. A program of 10 holes drilled for 1,927 metres was completed at Otjiwaru (see attached table). The zone targeted has subcropping sediments with malachite stains and a significant geochemical target. The holes intersected the Eskadron sequence containing brown siltstone and interbedded sandstones with debris flow. Minor malachite staining was intercepted down to approximately 25 metres with fine pyrite and chalcopyrite developed in the siltstone horizons below. The northernmost holes, 21OTRC001 and 21OTRC010, were drilled north across a major structure into the older metamorphosed phyllites of Damara and the Duruchaus formation and across a major regional shear that was unmineralized.

Reverse circulation chip samples were collected at 1.0-metre intervals in mineralized intersections and composited to 3.0 metres where mineralization was not visually noted. Samples were prepared in the ALS sample preparation facility in Namibia and assayed at its laboratory in South Africa. Anomalous copper concentrations were intersected in the preliminary investigatory drilling confirming the soil geochemistry, reflecting underlying bedrock anomalies. The best RC drill hole intercept was 7.0 metres grading 0.5 per cent copper from 121.0 metres in siltstone with fine chalcopyrite and pyrite noted in the logging.

Current drilling

First-pass drilling is nearing completion at Gemboksvlei with 21 holes being completed for 4,200 metres. Highly ranked priority targets and follow-up are being finalized for the remaining program and will be at:

• A 2.5-kilometre-by-1.2-kilometre copper-in-soil anomaly in an altered structural zone south of Okasewa;
• Subcropping copper at Dalheim with a two-kilometre strike extent.

Okasewa South

Directly south of the Okasewa inferred mineral resource of 4.36 million tonnes grading 1.15 per cent (see Australian Securities Exchange news release dated March 8, 2021), a large copper geochemical anomaly has been defined over an area of 2.5 kilometres by 1.2 kilometres. The anomaly lies on an altered electromagnetic conductor in a major mineralized cross-structure and is highly prospective for a large-scale sedimentary-hosted copper deposit.

A trial IP survey was completed over the known mineralized resource and a chargeability anomaly was defined at the eastern end of the deposit. Drilling will commence shortly to test the geochemical anomaly and geophysical targets, with 21 one holes planned for 4,000 metres.

Diamond drilling is expected to follow up on these regional RC drill hole fences to define the style and character of the geology and mineralization next year.

Qualified person

Technical information in this news release has been reviewed and approved by Dr. Scott Jobin-Bevans, PGeo, vice-president, exploration and a director of White Metal, who is a qualified person under the definitions established by National Instrument 43-101. Information and data in this news release have been largely extracted from Noronex's news release dated Nov. 16, 2021.

About White Metal Resources Corp.

White Metal Resources is a junior exploration company exploring in Canada and southern Africa. The company's two key properties are the flagship Tower Mountain gold project in Thunder Bay, Ont., Canada, and the Okohongo copper-silver project in Namibia, Africa.

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