Metallum Resources Inc. announced a major step forward in the future development of the Superior Lake Zinc Project (Superior Lake or the Project), as the Ontario Ministry of Mines has issued Mining Leases over the Pick Lake Claim area. The Mining Lease claims are valid for a period of 21 years. The conversion of these claim from exploration claims to mining lease are an essential and major step forward regarding the future development of the Project.

Without the conversion of these claims into mining leases future production cannot occur. and 5,300 tpa of copper concentrate (9-year mine life) of production, at an All In Sustaining Operating cost of just CAD 0.51 /lb, ranking the Project in lowest quartile operating costs for zinc Projects globally.