Metallum Resources Inc. Announces Results of Annual and Special Meeting

TORONTO, ONTARIO--(Marketwired - Aug. 28, 2013) - Metallum Resources Inc. (TSX VENTURE:MRV) (the "Company") announces the results from its 2013 annual and special meeting of shareholders held on August 27, 2013 (the "Meeting"). Items on the agenda at the Meeting included the election of the board of directors, the appointment of MNP LLP as auditors of the Company for the ensuing year, approving a resolution confirming and ratifying a new By-Law of the Company, and approving the Company's new rolling stock option plan.

At the Meeting, two new directors, Wade K. Dawe and James (Jim) Megann, were elected. Mr. Dawe and Mr. Megann join existing directors Kevin Bullock and Carl B. Hansen on the board of directors, who were re-elected at the Meeting. Donald Rowsell did not stand for re-election at the Meeting. On behalf of the shareholders, the Company would like to thank Mr. Rowsell for his service as a director for many years.

At the Meeting, in addition to appointing MNP LLP as auditors and confirming and ratifying the new By-Law of the Company (which By-Law also contains advance notice provisions for the election of directors in certain circumstances), shareholders approved the new 10% rolling stock option plan (the "Plan"), which replaces the Company's former fixed option plan. As at August 26, 2013, the Company had 70,945,009 common shares issued and outstanding, which means a total of 7,094,500 common shares are reserved for issuance under the Plan, being 10% of the issued and outstanding common shares of the Company. The Plan remains subject to the final approval of the TSX Venture Exchange.

About Metallum Resources Inc.

Metallum has an option to earn a 70% interest in the M-18 gold property in Argentina. It has 70,945,009 common shares outstanding and approximately $7,000,000 in cash, with no debt.

Further details may be obtained from the Company's website www.metallumresourcesinc.com.

Neither TSX Venture Exchange nor its Regulations 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.

Forward Looking Information Caution:

This press release presents "forward-looking statements" within the meaning of Canadian securities legislation that involve inherent risks and uncertainties. Forward-looking statements include, but are not limited to, statements with respect to the future price of gold and other minerals and metals, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the capital expenditures, costs and timing of the resources, the realization of mineral reserve estimates, the capital expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, currency exchange rate fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage.
Generally, these forward-looking statements can be identified by the use of forward looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Metallum to be materially different from those expressed or implied by such forward looking statements, including but not limited to: risks related to international operations, risks related to the integration of acquisitions; risks related to joint venture operations; actual results of current exploration activities; actual results of current or future reclamation activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of gold and other minerals and metals; possible variations in ore reserves, grade or recovery rates; failure of equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; and delays in obtaining governmental approvals or financing or in the completion of development or construction activities. Although the management and officers of Metallum believe that the expectations reflected in such forward-looking statements are based upon reasonable assumptions and have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. 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 Resources does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws