Mr. Michael Rowley reports

GROUP TEN ANNOUNCES ACQUISITION OF THE STILLWATER EAST PGE-NI-CU-CO + AU PROJECT IN MONTANA, USA; REPORTS 0.89% NICKEL, 0.66% COPPER AND 0.405 G/T 3E IN INITIAL ROCK SAMPLES

Group Ten Metals Inc. has significantly expanded its prime land position in the famously productive and metal-rich Stillwater district in Montana, through the acquisition of the Stillwater East property, located eight kilometres east along strike from the company's flagship Stillwater West project.

Group Ten has also released high-grade nickel and copper results from a preliminary rock sampling program on the new project, and provided a corporate update including upcoming investor events and its outlook for 2021.

Stillwater East -- highlights:

• Stillwater East extends the company's coverage of lower Stillwater complex magmatic stratigraphy by an additional seven km of strike at the eastern end of the Stillwater district, bringing Group Ten's regional holdings to a total of approximately 61 square km and over 32 km of strike. The company has more than tripled its holdings since the initial acquisition of Stillwater West in June, 2017, cementing its position as the second-largest landholder in the district, alongside Sibanye-Stillwater.
• The Stillwater igneous complex is recognized as one of the top regions in the world for platinum group elements, nickel and copper mineralization, alongside the Bushveld igneous complex and Great Dyke in southern Africa, which are similar layered magmatic intrusions.
• The Stillwater district is known for the J-M Reef deposit, which has produced over 14 million ounces of palladium and platinum to date, along with other commodities including nickel and copper, from three producing mines and a smelter/refinery complex owned by Sibanye-Stillwater (1). The J-M Reef deposit is the highest-grade PGE deposit in the world, and the largest outside of Africa and Russia (2).
• Stillwater East was acquired in collaboration with the vendor of Stillwater West, and is subject to the same 2 per cent net smelter return royalty, which includes a buy-down provision.

Target mineralization:

• Group Ten continues to successfully apply geologic models from South Africa's Bushveld igneous complex to similar geologic settings in the famously metal-rich Stillwater district, including Platreef-style bulk tonnage PGE-Ni-Cu-Co-Au and higher-grade Reef-type PGE-Ni-Cu deposits.
• The company has identified two compelling target types at the Stillwater East property that are similar to more-advanced targets at Stillwater West, situated eight km west along the same broad magmatic horizons.
• Platreef-style bulk tonnage PGE-Ni-Cu-Co plus Au targets:
  • Stillwater East covers the lower Stillwater complex stratigraphy on the eastern end of the district and demonstrates geophysical signatures similar to those found at Stillwater West in areas that have been shown to host Platreef-style mineralization. These thick horizons of nickel and copper sulphides are enriched in palladium, platinum, rhodium and gold -- similar to the giant mines of the Platreef, on the northern limb of the Bushveld complex in South Africa. The mines of the Platreef are among the largest and most profitable in the world. Led by the development of Anglo American's Mogalakwena mines in 1993, the district has grown to include Ivanhoe's Platreef mine and Platinum Group Metals' Waterberg project.
  • The massive deposits of the Platreef are attractive because their scale and grade allow the application of mechanized bulk mining methods with resulting economies of scale and low operating costs. These deposits also contain significant quantities of both battery-grade nickel and platinum group metals in a combination that is globally very rare.
  • Surface grab samples confirm the potential for Platreef-style mineralization at Stillwater East with results ranging to 0.886 per cent nickel, 0.662 per cent copper and 0.405 g/t 3E (Pt, Pd, Au) in rock samples taken near the historic Fishtail adit at Stillwater East in 2020.
• Reef-type PGE-Ni-Cu targets:
  • Stillwater East also shows potential to host narrower but higher-grade Reef-type deposits. Historically, the majority of the world's PGE supply has been sourced from mines of this type, and Stillwater East's proximity to the J-M Reef deposit including Sibanye-Stillwater's Blitz mine makes it highly prospective for high-grade PGE-Ni-Cu reef deposits.

Outlook for 2021

Group Ten's key objectives for 2021 include:

• Delivery of maiden National Instrument 43-101 compliant resources at the three most advanced target areas at Stillwater West -- Chrome Mountain (Discovery), Camp and Iron Mountain (HGR), based on 2019 and 2020 drill campaigns and a substantial drill database.
• Advancement of 3-D block models of drill-defined mineralization at two additional advanced target areas, including high-grade gold at the Pine target and Platreef-style mineralization at the Crescent target area.
• Extension of drill-defined mineralization at all five advanced target areas into untested adjacent anomalies, including targets from 2020's large 77 line km induced polarization geophysical survey.
• Value realization of the company's other district-scale assets including the high-grade Black Lake-Drayton gold project adjacent to Treasury Metals' development-stage Goliath-Goldlund project in Northwest Ontario, and the Kluane PGE-Ni-Cu-Co project on trend with Nickel Creek Platinum's Wellgreen deposit in Canada's Yukon. Both projects are owned 100 per cent by the company.

Michael Rowley, president and chief executive officer, commented: "We are extremely pleased to have been able to add this highly prospective land package to our holdings in the Stillwater district, where our systematic approach to exploration continues to demonstrate the presence of multiple Platreef-style horizons with bulk-tonnage mineralization along with higher-grade Reef-type zones. Like our flagship Stillwater West property, Stillwater East shows potential to host significant deposits of key battery metals and platinum group metals, at a time when the U.S. government has listed five of our target commodities -- nickel, cobalt, platinum, palladium and rhodium -- as critical minerals with the intention of increasing domestic production. In addition, we see increasingly supportive markets for the underlying commodities in the unique blend of metals that Platreef-style deposits offer, with decisive upward movement in the prices of nickel, platinum and copper, and continued upward movement in palladium and rhodium prices, which were already elevated prices due to persistent supply deficits.

"Final assay results are pending from our 2020 drill program and we look forward to reporting those in the near term along with modelling results from the 2020 IP survey. In addition, we look forward to presenting drill core from the 2020 program in upcoming trade shows as well as via other channels."

Upcoming events

Group Ten president and CEO Mr. Rowley will be presenting at the following upcoming events to discuss the company's recent progress and plans for 2021:

• Metals Investor Forum on Friday, Jan. 15, 2021, at 9:50 a.m. Pacific Time, hosted by Brien Lundin;
• PDAC 2021 -- the company will be presenting at the Prospectors & Developers Association of Canada International Convention, an on-line event from March 8 to 11, 2021. Further announcements will be made as final details become available.

Incentive option grant

The company has granted, effective today, an aggregate of 925,000 stock options to certain directors and officers of the company in accordance with the company's long-term performance incentive plan stock option plan. Each option is exercisable into one common share in the capital of the company at a price of 40 cents per share, being greater than the closing price of the shares on the TSX Venture Exchange on Jan. 11, 2021, for a period of five years from the date of grant. The options are subject to certain vesting requirements in accordance with the company's option plan.

About Stillwater West and East

The Stillwater West and East PGE-Ni-Cu-Co plus Au projects position Group Ten as the second-largest landholder in the Stillwater complex, adjoining and adjacent to Sibanye-Stillwater's Stillwater, East Boulder and Blitz PGE mines in south-central Montana (2). The Stillwater complex is recognized as one of the top regions in the world for PGE-Ni-Cu-Co mineralization, alongside the Bushveld complex and Great Dyke in southern Africa, which are similar layered intrusions. The J-M Reef, and other PGE-enriched sulphide horizons in the Stillwater complex, share many similarities with the highly prolific Merensky and UG2 reefs in the Bushveld complex. At the same time, the lower part of the Stillwater complex also shows the potential for much larger-scale disseminated and high-sulphide PGE-Ni-Cu-Co deposits, similar to Platreef in the Bushveld complex (3). Group Ten's Stillwater projects cover the lower part of the Stillwater complex along with the Picket Pin PGE Reef-type deposit in the upper portion and includes extensive historic data, including soil and rock geochemistry, geophysical surveys, geologic mapping, and historic drilling.

Notes:

1. Sum of public production records from 1986 to present.
2. References to adjoining properties are for illustrative purposes only and are not necessarily indicative of the exploration potential, extent or nature of mineralization, or potential future results of the company's projects.
3. "Magmatic Ore Deposits in Layered Intrusions-Descriptive Model for Reef-Type PGE and Contact-Type Cu-Ni-PGE Deposits," Michael Zientek, United States Geological Survey open-file report 2012-1010.

Quality control and quality assurance

Rock chip samples were analyzed by ACT Labs in Vancouver, B.C. Sample preparation: crush (less than seven kilograms) up to 80 per cent passing two millimetres, riffle split (250 grams) and pulverize (mild steel) to 95 per cent passing 105 micrometres included cleaner sand. Gold, platinum and palladium were analyzed by fire assay (1C-OES) with ICP finish. Selected major and trace elements were analyzed by peroxide fusion with eight-peroxide ICP-OES finish to ensure complete dissolution of resistate minerals.

Mike Ostenson, PGeo, is the qualified person for the purposes of National Instrument 43-101, and he has reviewed and approved the technical disclosure contained in this news release.

About Group Ten Metals Inc.

Group Ten Metals Inc. is a Canadian mineral exploration company focused on the development of high-quality platinum, palladium, nickel, copper, cobalt and gold exploration assets in top North American mining jurisdictions. The company's core asset is the Stillwater West PGE-Ni-Cu-Co plus Au project adjacent to Sibanye-Stillwater's high-grade PGE mines in Montana. Group Ten also holds the high-grade Black Lake-Drayton gold project adjacent to Treasury Metals' development-stage Goliath-Goldlund project in Northwest Ontario, and the Kluane PGE-Ni-Cu-Co project on trend with Nickel Creek Platinum's Wellgreen deposit in Canada's Yukon.

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