ExGen Resources Completes Acquisition of MTB Metals

1 hour ago 2

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CHANGE OF EXGEN BOARD AND MANAGEMENT

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On completion of the Arrangement, Mark T. Brown, a director of MTB, has been appointed as a director of ExGen.

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EARLY WARNING REPORTING

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By virtue of its acquisition of all the issued and outstanding MTB Shares pursuant to the Arrangement, ExGen is required to file an early warning report pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. A copy of the early warning report will be filed by ExGen against MTB on SEDAR+ at www.sedarplus.ca.

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ABOUT EXGEN RESOURCES INC.

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ExGen is a project accelerator that seeks to fund exploration and development of our projects through joint ventures and partnership agreements. This approach significantly reduces the technical and financial risks for ExGen, while maintaining the upside exposure to new discoveries and potential cash flow. ExGen intends to build a diverse portfolio of projects across exploration stages and various commodity groups. ExGen currently has 7 projects in Canada and the US.

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On behalf of the Board of Directors of ExGen:
Jason Riley
President & CEO
Tel: 604-688-2641
For further information on ExGen:
Jason Tong
Chief Financial Officer
Email: [email protected]
Cell: 604-889-7827

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ABOUT MTB METALS CORP.

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MTB is advancing two copper-gold projects in the prolific Golden Triangle of northern British Columbia.

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Telegraph: 350 square kilometre property located in the vicinity of 4 notable porphyry deposits all being explored or mined by major mining companies. Field work by MTB, together with earlier results, provides compelling evidence for the presence of one or more porphyries similar to the others in the area.

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Southmore: 50 square kilometer property hosts several significant copper and gold occurrences. Surface samples include a sample with 12.7% copper and another with 29.4 g/t gold.

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MTB also holds royalties on four projects in the Golden Triangle, including two past producing mines.

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On behalf of the Board of Directors of MTB:
Lawrence Roulston
President & CEO
For further information on MTB:
Caroline Klukowski, Investor Relations
[email protected]

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Neither the TSX Venture Exchange nor its Regulation
Services
Provider
(as
that
term
is
defined
in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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Forward-Looking
Information: This news release contains certain forward-looking information. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. In particular, this news release contains forward-looking information in relation to: the expected timing by which the MTB Shares will be delisted from the TSXV (the “Delisting”), the potential securities regulators’ approval to have MTB cease to be a reporting issuer (the “Cease Reporting”) and conversion of MTB’s securities post-Arrangement. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. In the forward looking information contained in this news release, ExGen and MTB have made numerous assumptions, based upon practices and methodologies which are consistent with the mineral industry. In addition, ExGen and MTB have assumed: the satisfaction of any conditions post Arrangement, including, without limitation, the receipt of TSXV’s acceptance of the Delisting, securities regulators’ acceptance of the Cease Reporting and all required board approvals and regulatory acceptance in connection with post Arrangement matters and filings. While ExGen and MTB consider these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies. Additionally, there are known and unknown risk factors which could cause ExGen’s and MTB’s observations, actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: general business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; volatility of commodity prices; competition; accidents and other risks inherent in the mining industry; delay or failure to receive board of directors, third party or regulatory approvals; competition; changes in legislation, including environmental legislation, affecting ExGen or MTB; the early stage development of ExGen and MTB and their projects; the timing and availability of external financing on acceptable terms; conclusions of economic evaluations and appraisals; the possibility that the analytical results from future core sampling does not return significant grades of mineralization; uncertainties relating to interpretation of drill results and the geology; continuity and grade of mineralization; there is no certainty that any work programs will result in significant or successful exploration of ExGen’s and MTB’s projects or development of such projects into a producing mine; uncertainty as to the actual results of exploration and development or operational activities; uncertainty as to the availability and terms of future financing; uncertainty as to timely availability of permits and other governmental approvals; ExGen and MTB may not be able to comply with their ongoing obligations regarding their properties and projects; lack of insurance; currency fluctuations; changes in project parameters as plans continue to be refined; and lack of qualified, skilled labour or loss of key individuals. A description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in ExGen’s and MTB’s disclosure documents on the SEDAR+ website at www.sedarplus.ca. Although ExGen and MTB have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. ExGen and MTB do not undertake to update any forward-looking information except in accordance with applicable securities laws.

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