Bolt Metals and 1261799 Mutually Agree to Terminate Letter of Intent

VANCOUVER, Oct. 13, 2020 - Bolt Metals Corp. (CSE: BOLT) (FRANKFURT: NXFE) (OTCQB: PCRCF) announces that it has mutually agreed with 1261799 BC Ltd. to terminate the letter of intent announced September 17, 2020.

About Bolt Metals

Bolt Metals is a Canadian‐based exploration company focused on the acquisition and development of production grade nickel and cobalt deposits, key raw material inputs for the growing lithium‐ion battery industry. Visit https://boltmetals.com/ to find out more.

Bolt Metals Corp.

Ranjeet Sundher – President and CEO
(604) 922-8272
rsundher@boltmetals.com

Steve Vanry – CFO & Director
(604) 922-8272
steve@vanrycap.com

Sean Bromley – Director & Investor Contact
(778) 985-8934
sean@theparmargroup.com

Reader Advisory

Statements in this press release which are not historical facts are “forward looking statements” that involve risks and uncertainties, such as the completion of the Proposed Transaction and Consolidation. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties such as the risk that the closing may not occur for any reason. Actual results in each case could differ materially from those currently anticipated in forward-looking statements due to factors such as: (i) the decision to not close the Proposed Transaction or Consolidation for any reason, including adverse due diligence results and regulatory refusal of the Proposed Transaction; (ii) adverse market conditions; and/or (iii) the need for additional financing. Except as required by law, the Company does not intend to update any changes to such statements.

Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.