Metallum Resources Provides Update on Shareholder Meeting Plans

HALIFAX, Sept. 29, 2016 - Metallum Resources Inc. (TSXV: MRV) ("Metallum" or "Company") provides the following Annual General and Special Meeting ("AGSM"),  update:


Change of AGSM Date

The previously announced AGSM, originally scheduled for  September 30, 2016, has been postponed to allow the TSX Venture Exchange to complete its final review of the meeting materials. The Company expects a rescheduled date to be announced within the next few weeks, allowing for the appropriate required shareholder notice and mailing of corporate materials.


Change of Business

Metallum is proceeding with an application to the TSX Venture Exchange for a change of business from a Mining Issuer to an Investment Issuer. On a going forward basis, and subject to necessary regulatory and shareholder approvals, Metallum will focus on strategic investments in private and public company securities. Trading in the Company's securities will remain halted until all necessary approvals have been obtained.


About Metallum

Metallum is incorporated under the Business Corporations Act (Ontario) with its registered and head office currently being relocated to Halifax, Nova Scotia. Metallum has 70,945,009 common shares outstanding and approximately $6.5 million in cash, a 12% promissory note of $270,000, a $150,000 receivable and 1,562,500 common shares of OneUp Canada, and no debt.


CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:

This press release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. 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 disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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.



Contact

Metallum Resources Inc.
Rob Randall, Chief Financial Officer
(902) 405-4600