Metallum Resources Announces Board and Management Changes

TORONTO, July 31, 2013 - Metallum Resources Inc. (TSX VENTURE:MRV) ("Metallum" or "Company") announces that Greg Lipton, its President and Chief Executive Officer ("CEO"), and also a Director, will be stepping down from these positions effective July 31, 2013. Mr. Lipton will be replaced by Robert Suttie, the Company's current Chief Financial Officer, as Interim CEO until a suitable replacement has been found.

The Board wishes to express its sincere appreciation for Mr. Lipton's efforts and accomplishments on behalf of the Company after almost 9 years as its President and CEO. We wish Greg the best with his future endeavours.


About Metallum Resources Inc.

Metallum has an option to earn a 70% interest in the M-18 gold property in Argentina. It has 70,945,009 common shares outstanding and approximately $7,500,000 in cash, with no debt.

Further details may be obtained from the Company's website: www.metallumresourcesinc.com.


Neither TSX Venture Exchange nor its Regulations 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.

Forward Looking Information Caution: This press release presents "forward-looking statements" within the meaning of Canadian securities legislation that involve inherent risks and uncertainties. Forward-looking statements include, but are not limited to, statements with respect to the future price of gold and other minerals and metals, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the capital expenditures, costs and timing of the resources, the realization of mineral reserve estimates, the capital expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, currency exchange rate fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. Generally, these forward-looking statements can be identified by the use of forward looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Metallum to be materially different from those expressed or implied by such forward looking statements, including but not limited to: risks related to international operations, risks related to the integration of acquisitions; risks related to joint venture operations; actual results of current exploration activities; actual results of current or future reclamation activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of gold and other minerals and metals; possible variations in ore reserves, grade or recovery rates; failure of equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; and delays in obtaining governmental approvals or financing or in the completion of development or construction activities. Although the management and officers of Metallum believe that the expectations reflected in such forward-looking statements are based upon reasonable assumptions and have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Metallum Resources does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.



Contact

Metallum Resources Inc.
Robert Suttie, Interim CEO
(416) 848-6865
rsuttie@mdcorp.ca
www.metallumresourcesinc.com