Canadian Metals cancels Option agreement with FeTiV and 2 directors resign

Canadian Metals Inc. CSE: CME

Canadian Metals cancels option agreement with FeTiV Minerals Inc.

and announces resignation of two directors

November 1 5, 2019 - Montréal, Québec. - Canadian Metals Inc. (“CME” or the

“Company”) (CSE: CME) announces the termination of the previously announced option

agreement (the “ Option Agreement ”) with FeTiV Minerals Inc. (“ FMI”), a private

exploration company which owns an 80% undivided interest in the Mouchalagane, Silicate

Lake, Seignelay, Lac Robot and Baie-Trinité iron projects (the “Iron Projects”), located in

the Province of Québec, with CME owning the remaining 20% undiv ided interest. (see

news release dated July 8, 2019 for more information on the initial announcement and short

description of the Iron Projects – see news release dated October 16, 2019 for more information

on the amended agreement).

Rational Behind the Decision to Cancel the Option Agreement

In July 2019, the Company approved the Option Agreement based on continuing the

initiated technical due diligence on the Mouchalagane and Silicate Lake properties. In

addition, during the summer of 2019 the iron or e markets were experiencing a supply

shortage which had a favourable impact on iron prices. In October 2019, an amendment

to the Option Agreement was negotiated regarding the payment terms of the initial

agreement in an effort to relieve financing pressur e and deadlines. CME expected to

benefit from the favourable market window, unfortunately markets have since

softened and no longer support the values of the Option Agreement. As a result, the

Company has advised FMI that it has elected to terminate the Option Agreement, as

amended, effective immediately.

The Company also announce s the resignation, effective immediately, of Mr. Stephane

Leblanc as a Director of the Company. Mr. Leblanc is continuing his involvement with the

Company as Vice-President Development.

The Company also announces the resignation effective immediately, of Mr. Louis Dionne

as a Director of the Company.

About Canadian Metals Inc.

Canadian Metals is a diversified resource company focused on creating shareholder value

through the development of large-scale mineral deposits in specific commodities and safe

jurisdictions.

For more information, please contact:

Gérald Panneton

Chairman & CEO

Email: [email protected]

Patsie Ducharme

Chief Financial Officer

Email: : [email protected]

Website: www.canadianmetalsinc.com

Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of

this release.