MINTO METALS ANNOUNCES GRANT OF STOCK OPTIONS & RESTRICTED SHARE UNITS

WHITEHORSE, YT - Minto Metals Corp. ('Minto' or the 'Company') (TSXV: MNTO) announced that the Board of Directors have approved the grant of an aggregate of 1,656,380 stock options (the 'Options') and 266,153 restricted share units (the 'RSUs') to the senior leadership team and executive officers of the Company under the Company's Long-Term Incentive Program. The Options & RSU's were granted pursuant to the Company's Long Term Incentive Plan and are subject to the terms of the applicable award agreements and the requirements of the TSX Venture Exchange.

The Options are each exercisable to acquire one common share of the Company at a price of $2.34 per share for a period of five years from the date of grant. The RSUs will be issued at a deemed price of $2.34 per share. The Options and RSUs will vest in three annual installments on each of the first, second and third anniversaries of the grant date.

About Minto Metals Corp.

Minto owns and operates the producing Minto mine located in the Minto Copper Belt of the Yukon, Canada. The Minto mine has been in operation since 2007 with underground mining commencing in 2014. Since 2007, approximately 500Mlbs of copper have been produced from the Minto mine. Capstone Mining (previous owners) put the Minto mine into care & maintenance in 2018 and the mine operations were shut down. In mid-2019 Minto (formerly Minto Explorations Ltd.) purchased the Minto mine operation and restarted the mine. The current Minto mine includes underground mining operations, a processing plant that produces a high-grade copper, gold, and silver concentrate, and all supporting infrastructure associated with operating a remote mine located in Yukon. The Minto mine property is located on the Selkirk First Nation's Territory, sitting about 20 km WNW of Minto Landing on the west side of the Yukon River. Minto Landing is located on the east side of the Yukon River approximately 250 road-km north of the City of Whitehorse, the capital city of the Yukon.

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:

Investor

David Birch

CFO

T: [phone]

Chris Stewart

CEO & President

T: [phone]

Community

E: [e-mail]

Indigenous

E: [e-mail]

Business & Contract

E: [e-mail]

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