Mr. Tim Fernback reports

LICO ENERGY CLOSES PRIVATE PLACEMENT

Lico Energy Metals Inc., further to its news release dated Oct. 24, 2017, has closed its non-brokered private placement offering, raising gross proceeds of $960,000. The company issued eight million flow-through (FT) units and four million non-flow-through units, both at a price of eight cents per FT unit and eight cents per unit, subject to TSX Venture Exchange approval.

Each FT unit/unit comprises one common share of the company and one share purchase warrant. Each share purchase warrant will entitle the holder thereof to purchase one additional common share of the company at an exercise price of 10 cents per share, for a period of two years from closing, subject to TSX Venture Exchange approval.

Finders' fees totalling $37,520 payable in cash, 1,256,000 finders' shares and 488,000 finders' warrants were paid in connection with the financing. All finders' warrants are on the same terms as the purchaser warrants. The finders' fees paid in connection with the private placement are subject to exchange approval.

The proceeds from the FT units will be used to advance the company's Teledyne and Glencore Bucke properties in Cobalt, Ont. The proceeds from the units will be used for advancement and development of the company's other mineral exploration projects and for general working capital purposes.

All securities issued in connection with the private placement are subject to a four-month-and-a-day hold period expiring on April 2, 2018, in accordance with applicable securities laws.

About Lico Energy Metals Inc.

Lico Energy is a Canadian-based exploration company, the primary listing of which 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.

We seek Safe Harbor.